Home Loans
Buying a home is a big decision. We help you understand your options, compare suitable loans and choose one that fits the way you live.
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A home loan that suits you, not just the bank
There is no single best home loan. The right one depends on your income, your deposit, how long you expect to stay in the property and how much flexibility you want along the way. Two borrowers buying similar homes can end up better served by quite different loans.
That is where a broker is useful. We start by understanding your situation and what matters to you, then compare suitable loans from the lenders available to us and explain the differences in plain English: the type of interest rate, the fees, features such as offset and redraw, and what each choice could mean for your repayments.
Who we help
We work with people buying a home to live in at every stage: upgrading to fit a growing family, downsizing, relocating, or buying again after some time out of the market. If you are self-employed, changing jobs or relying on more than one source of income, we can explain how lenders are likely to view your application before you apply, which often saves time and disappointment later.
Looking at the whole cost
The interest rate matters, but it is only part of the picture. We walk you through the costs that sit alongside the loan itself, such as stamp duty, lenders mortgage insurance where the deposit is smaller, and legal or conveyancing fees. Knowing these early helps you set a realistic budget and avoid surprises on the way to settlement.
If you are still working out your price range, our borrowing power calculator gives a general guide, and a conversation with a broker will give you a clearer one.
How a MAXLEND broker helps
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Options side by side
We set out suitable home loans next to each other, including fees and features, so the differences are easy to see.
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Help before you apply
We explain how lenders are likely to assess your income, expenses and deposit, so you know where you stand first.
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Less paperwork for you
We prepare and lodge the application and deal with the lender on your behalf through to settlement.
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Your interests first
Mortgage brokers are bound by a Best Interests Duty, so our recommendation has to put your interests first.
How the home loan process works
A clear process from first conversation to settlement, with a MAXLEND broker beside you at each step.
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An initial conversation
We talk about your goals, your budget and where you are in the buying process.
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Reviewing your finances
We look at your income, savings, existing debts and living expenses to understand what you may be able to borrow.
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Comparing your options
We present suitable loans and explain the reasons behind our recommendation.
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Pre-approval
Where it suits your plans, we help you apply for pre-approval so you can look for a property with more confidence.
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Application and approval
We prepare the application, lodge it with the lender and keep you updated until a decision is made.
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Settlement and beyond
We work with your conveyancer and the lender through to settlement, and stay in touch afterwards.
Things to consider before you apply
Lenders look at your income, living expenses, existing debts, savings history and credit record, as well as the property itself. Each lender weighs these differently, which is why the same application can be viewed differently from one lender to the next.
Remember to budget for the costs that sit alongside the loan, such as stamp duty, legal or conveyancing fees, building and pest inspections and, where the deposit is smaller, lenders mortgage insurance.
Documents you may be asked for
- Photo identification
- Recent payslips, or tax returns and financial statements if you are self-employed
- Bank statements showing your savings and spending
- Statements for existing loans and credit cards
- The contract of sale, once you have found a property
General information only. A broker can explain how it applies to your circumstances.
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Home Loans: common questions
See all questionsWhat is the difference between an offset account and redraw?
An offset account is a transaction account linked to your loan: the balance is offset against the loan when interest is calculated. Redraw lets you take back extra repayments you have made on the loan itself. Both can reduce interest, but they work differently and not every loan offers both.
Can I get a home loan if I am self-employed?
Yes, many lenders offer loans to self-employed borrowers. They usually want to see tax returns and financial statements, and some have options for borrowers with less traditional income records. A broker can explain which documents each lender is likely to need.
Should I get pre-approval before I look at properties?
Pre-approval gives you an indication of how much a lender may be willing to lend, subject to conditions, so you can search within a realistic price range. It is not a guarantee of final approval and it usually expires after a set period.
How much deposit do I need?
It depends on the lender, the property and your circumstances. Many lenders prefer a deposit of 20 per cent of the purchase price, but loans with a smaller deposit are available and usually involve lenders mortgage insurance. We can talk you through what may suit your situation.
Related questions
What is lenders mortgage insurance (LMI)?
LMI is insurance that protects the lender, not the borrower, if a loan is not repaid. It is usually charged when the deposit is less than 20 per cent, and the cost can often be added to the loan.
How long does a home loan application take?
Timeframes vary between lenders and depend on how complex your application is and how quickly documents can be provided. We will give you a realistic expectation for your situation and keep you updated at each stage.
What documents will I need?
Lenders generally ask for identification, proof of income such as payslips or tax returns, bank statements, and details of your assets, debts and living expenses. We will give you a checklist tailored to your application.
What is pre-approval?
Pre-approval is an indication from a lender of how much it may be willing to lend you, subject to conditions. It is not a guarantee of final approval, but it helps you understand your price range before you make an offer.
Should I choose a fixed or variable rate?
A fixed rate gives you certainty over repayments for a set period but usually less flexibility. A variable rate can move up or down and often comes with features such as offset accounts and extra repayments. Some borrowers split their loan between the two. The right choice depends on your priorities.
Good to know before we talk
A little preparation makes the first conversation more useful. These are the points borrowers most often ask us to explain.
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Know your full budget
The purchase price is only part of the cost. Allow for stamp duty, legal fees, inspections and moving, so the loan amount you ask about is realistic.
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Have your documents ready
Recent payslips or tax returns, bank statements and details of existing debts let a broker give you a clearer picture sooner.
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Compare more than the rate
Fees, features such as offset or redraw, and how flexible the loan is can matter as much as the headline interest rate.
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Think past settlement
Your circumstances change. It is worth asking how the loan can be reviewed, restructured or repaid faster later on.
Ready to talk about home loans?
Book a time with a MAXLEND broker. There is no obligation.