Mortgage Questions, Answered
Quick, honest answers to the questions Australian borrowers actually ask — no jargon, no upsell, no padding.
How Much Does a Mortgage Broker Cost in Australia?
For the vast majority of standard home loans in Australia, a mortgage broker costs the borrower nothing. Brokers are paid a commission by the lender once your loan settles, not by you.
Read full answer →Is a Mortgage Broker Better Than Going Direct to a Bank?
For most Australian borrowers, a broker offers better choice, comparable or better rates, and a legal duty to act in your best interests. Going direct to a bank only wins if you already know that bank suits you.
Read full answer →How Long Does Home Loan Approval Take in Australia?
Conditional (pre-approval) for a clean PAYG application is typically 1 to 5 business days. Unconditional approval after a property is found usually takes another 5 to 15 business days, then settlement is 30 to 42 days from contract.
Read full answer →What Credit Score Do You Need for a Home Loan in Australia?
There is no fixed minimum credit score, but most major Australian banks prefer scores above 650 (Equifax) for standard home loans. Specialist lenders can work with scores down to 500, often at higher rates.
Read full answer →Can You Get a Home Loan If You're Self-Employed?
Yes. Self-employed borrowers can get standard home loans with two years of tax returns (full-doc), or a low-doc loan with as little as one BAS or accountant's letter where major-bank policy is too strict.
Read full answer →How Much Is Stamp Duty in Queensland?
Queensland transfer duty (stamp duty) starts at 1% and scales up. First home buyers pay $0 on established homes up to $700,000 (tapering to $800,000), and $0 on all new homes and vacant first-home land — with no value cap — under contracts dated 1 May 2025 or later.
Read full answer →How Much Income Do You Need to Buy a $700,000 Home?
As a rough guide, a single buyer needs around $130,000 to $150,000 gross income to comfortably buy a $700,000 home in 2026, assuming a 20% deposit and no other significant debts. Couples need less between them.
Read full answer →Can You Buy a House With No Deposit in Australia?
True no-deposit home loans almost don't exist in 2026, but you can effectively buy with no savings using a family guarantor, or with as little as 2% to 5% deposit using First Home Guarantee or LMI-funded options.
Read full answer →Should You Fix Your Home Loan Rate in 2026?
Fixing makes sense if rate certainty matters more to you than flexibility, or if fixed rates are clearly below variable. For most borrowers, a split loan (part fixed, part variable) is a sensible middle ground.
Read full answer →What Is the First Home Guarantee Scheme and How Do You Qualify?
The First Home Guarantee lets eligible first home buyers purchase a home with a 5% deposit and no Lenders Mortgage Insurance. The federal government guarantees the gap to 20%, saving you tens of thousands in upfront costs.
Read full answer →Got a Question Specific to You?
General answers only go so far. Book a free chat with a broker who can look at your full financial picture and give you a real answer.
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Our long-form guides cover deposits, borrowing capacity, LMI, refinancing, and first home buyer schemes — all written for Australian borrowers.
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