FAQ
Welcome to our FAQ  page! Here, we've compiled answers to the most common questions our customers have. If you don't find what you're looking for, don't hesitate to reach out to us — we're happy to help!

It’s possible, but it may be more difficult. Some lenders are designed for borrowers with lower credit scores. However, you might face higher interest rates or require a larger down payment.

LMI is required when the deposit is less than 20%. It protects the lender if you default on the loan. If you need to pay LMI, the cost will vary depending on the loan amount, but it is usually added to your loan balance.

The main types of home loans in Australia include:

• Variable rate loans: Interest rates can fluctuate with market changes.

• Fixed-rate loans: The interest rate stays the same for a set period, usually 1 to 5 years.

• Split-rate loans: A combination of fixed and variable rates.

• Interest-only loans: For a set period, you only pay interest, not principal.

• Low-doc loans: For self-employed individuals or those with limited documentation.

• First Home Owner Grants (FHOG): Available for first-time buyers to assist with purchasing a home, varying by state or territory.

The costs involved can include:

• Stamp duty: A state government tax on property transactions, which varies by state/territory and property value.

• Conveyancing fees: The cost of legal assistance for property transfers.

• Valuation fees: A fee for the lender to assess the property’s value.

• Building and pest inspections: Recommended but optional checks for the property’s condition.

• Application fees and settlement fees: Charges by lenders for processing your application and completing the loan settlement.