FAQ’s on home loans

We offer finance up to 95% of the purchase price, meaning you can start to look at buying a house once you’ve saved at least 5% of the purchase price plus costs (stamp duty, Mortgage insurance and application fees)

Yes if it’s a credit default, bankruptcy, or debt agreement, we still might be able to help with a bad credit home loan.

One of our funders has no limit to the number of debts you can consolidate as long as the outcome of the consolidation puts you in a better financial position and no more than 90% LVR.

An application with a Loan-to-Value Ratio (LVR) of 80% or more (meaning you have a deposit of less than 20%) may result in you having to pay Lender’s Mortgage Insurance (LMI). LMI is a third-party insurance premium payable by you as the borrower, to protect the lender against the potential loss that may be incurred if you’re unable to repay your home loan.

Only Australian citizens and permanent residents who hold a valid VISA to stay in Australia indefinitely, will be eligible for our home loans.

Our Lenders don’t accept guarantors on any of our home loan products.

Loan to Value Ratio, also known as LVR, is the loan size in relation to the property’s value. The size of the deposit plays a key role in determining the LVR, as the larger your deposit, the lower your LVR will be. Your LVR can impact interest rates and products that will be available to you. The value of the property will usually be confirmed by a valuation.

To calculate your LVR, divide the amount you need to borrow (e.g. $400,000) by the value of the property (e.g. $500,000) and multiply this by 100 to give you a percentage.

$400,000/$500,000 x 100 = 80% LVR. This would mean you have a 20% deposit of $100,000 towards your $500,000 property.