Your home loan questions, answered honestly

Nothing — our service is free to you. We are paid a commission by the lender when your loan settles. Under Australian law, we are required to disclose this commission to you, and we are legally required to act in your best interests, not the lender's.

A bank can only offer you their own products. A mortgage broker like Wiseman Financial Solutions can compare products from 40+ lenders — including major banks, credit unions, and specialist lenders — to find the most suitable option for your situation.

Absolutely. While many clients prefer phone or video consultations for convenience, we're based in Sydney and happy to meet in person. Contact us to arrange a time.

We review your income, deposit and goals, calculate your borrowing capacity across multiple lenders, explain any schemes you qualify for, and give you a clear plan — all free, with no obligation and no impact on your credit score. Call 0451 316 767 or book online.

From initial consultation to settlement typically takes 6–10 weeks. Pre-approval can be issued within a few days once your documents are submitted. Unconditional approval usually follows within 3–5 business days of finding a property. Settlement is usually 4–6 weeks after exchange of contracts.

Typically: 2 recent payslips, last 2 years' tax returns (if self-employed), 3–6 months of bank statements, ID documents (passport or driver's licence), details of any existing loans or credit cards, and information about the property you're purchasing. We'll guide you through exactly what's needed for your specific application.

Pre-approval (or conditional approval) means the lender has assessed your financial situation and is prepared to lend you up to a certain amount, subject to finding an acceptable property. It's strongly recommended before searching for a property — it gives you a clear budget and puts you in a stronger position at auction or negotiation.

Yes. Self-employed borrowers can access all standard loan products. Lenders typically require 2 years of tax returns and business financial statements. If you've recently started a business, some specialist 'low-doc' lenders offer products based on alternative income verification. We have strong experience with self-employed applicants.

Lenders Mortgage Insurance protects the lender — not you — in the event of default. It's required when your deposit is less than 20% of the purchase price. LMI can be added to the loan, but it does increase the total cost of borrowing. Some government schemes allow eligible buyers to avoid LMI with a smaller deposit.

LVR (Loan to Value Ratio) is your loan amount as a percentage of the property value. Below 80% you avoid LMI and unlock the sharpest rates; 80–95% usually means LMI. Many lenders price interest rates in LVR tiers, so even a small deposit boost can cut your rate.

The comparison rate combines the interest rate with most fees and charges to show a loan's truer cost, calculated on a standardised $150,000 over 25 years. It's most useful for comparing loans of a similar size and type — for large loans the gap between advertised and comparison rate matters even more.

It depends on your need for certainty versus flexibility. Fixing protects you if rates rise but usually loses offset flexibility and carries break costs. Many clients split their loan — part fixed, part variable — to hedge both ways. We model both scenarios for you before you decide.

If your property has increased in value or you've reduced your loan balance, you may be able to access equity through a refinance or line of credit. This equity can be used for renovations, investment property deposits, or other purposes. We assess your equity position as part of a free loan review.

We recommend reviewing your home loan every 12–18 months, or any time there's a significant change in your circumstances — income change, property value change, fixed rate expiry, or a major life event. The lending market changes constantly, and loyalty to your lender rarely pays.

Every 12–24 months, or at any major life change. Lender loyalty is routinely punished with higher back-book rates — a 15-minute review can identify whether a reprice with your current lender or a refinance elsewhere will save you thousands.

Only if you let it. You can refinance to a term matching your remaining years — for example, 24 years instead of restarting at 30. Keeping repayments the same on a lower rate pays your loan off faster instead of stretching it out.

Some lenders offer $2,000–$4,000 cashback for refinancing to them. It can be genuinely valuable, but only when the underlying rate is also competitive — chasing cashback onto a higher rate usually costs more within 18 months. We calculate the true net benefit for you.

There's no formal legal minimum, but most SMSF lenders require a 20–30% deposit on the property, plus the fund must retain sufficient liquidity after purchase. In practice, most SMSF property investors need a fund balance of at least $200,000–$300,000 before a borrowing strategy is practical. We assess this on a case-by-case basis.

Yes. We assist with commercial property purchases, refinances, and business lending through our panel of commercial lenders. Commercial finance is assessed differently from residential, and we have specific expertise in this area.

Yes. ABN holders — sole traders, contractors and company directors — get home loans every day. Most lenders want your ABN active for 12–24 months and either two years of tax returns (full-doc) or alternatives like BAS statements or an accountant's declaration (alt-doc/low-doc). Different lenders treat ABN income very differently, which is exactly where a broker adds value.

Often, yes. While many banks want two full years of financials, several lenders accept one year of tax returns, and alt-doc lenders can use 6–12 months of BAS or business bank statements instead. Rates may be slightly higher until you can refinance to a full-doc loan later.

Absolutely. There is no legal maximum age for a home loan in Australia. Lenders simply need a reasonable 'exit strategy' showing how the loan will be repaid — such as ongoing income, superannuation, downsizing plans or investments. We regularly arrange loans for borrowers in their 40s, 50s and beyond.

Yes, many lenders will still write a 30-year term at 50 — they'll just ask for an exit strategy (super balance, downsizing, or investment income in retirement). Some lenders are far more flexible on this than others, so lender choice matters more with age.

Many temporary residents (e.g. 482, 485, partner visas) can borrow with selected lenders, usually at 80–90% LVR, and may need FIRB approval to purchase. Permanent residents are treated like citizens by most lenders. Policies vary widely — lender selection is critical.

Yes. Most lenders accept casual income once you've been in the role 6–12 months (some accept 3 months in the same industry). Overtime, penalty rates and allowances can often be included too, typically assessed at 80–100% depending on the lender.

Some payments — like Family Tax Benefit A and B for dependants under a certain age, and carer or disability support payments — are accepted by selected lenders as part of your income. Acceptance varies significantly by lender, which is where broker knowledge helps.

Many lenders accept borrowers still in probation, especially in the same industry or profession. Some want 3–6 months in the role. If you've just changed jobs, tell us — we'll target lenders with the most flexible new-employment policies.

Yes. Many lenders lend up to 95% with Lenders Mortgage Insurance. Even better, eligible first home buyers can use the federal First Home Guarantee to buy with 5% and pay no LMI at all — since October 2025 places are uncapped and income caps have been removed.

Two very different paths exist. First home buyers can use the First Home Super Saver Scheme (FHSSS) to withdraw eligible voluntary super contributions — up to $50,000 — for a deposit. Separately, a Self-Managed Super Fund (SMSF) can buy investment property inside super with an LRBA loan. You generally cannot use regular super to buy a home to live in outside these schemes.

A family member (usually a parent) uses equity in their own property as extra security for your loan. This can eliminate the need for a cash deposit and avoid LMI entirely. The guarantee can usually be released once your loan drops below 80% of the property value.

Often, yes. Specialist and non-conforming lenders exist precisely for borrowers with paid defaults, past Part IX agreements or discharged bankruptcy. Rates are higher initially, but a common strategy is to take a specialist loan now and refinance to a mainstream lender after 1–2 years of clean repayments.

Multiple formal applications in a short window can lower your score, because each application is a hard enquiry. A broker avoids this by assessing your file first and submitting one application to the lender most likely to approve.