All FAQs (Helpie FAQ)

First Home Guarantee (FHBG) supports eligible first home buyers to buy their first home sooner, with a deposit as little as 5%. Family Home Guarantee (FHG) supports eligible single parents with at least one dependent child to buy a home, with a deposit as little as 2%. Regional First Home Buyer Guarantee (RFHBG) supports eligible regional first home buyers to buy a home in a regional area, with a deposit as little as 5%.

In some cases, they can be combined.For example, the First Home Owner Grant may be combined with stamp duty concessions or other state-specific benefits.

You have to course your application through participating lenders. The National Housing Finance and Investment Corporation doesn’t accept direct applications.

For the First Home Guarantee (FHBG) or Regional First Home Buyer Guarantee (RFHBG), you can apply as an individual (single application), or as part of a borrower couple (couple application). The FHBG identifies a couple application as two eligible borrowers who are married or in a de facto relationship with each other.

Yes, you can. It will be filed under a single application and only you will be considered for the eligibility criteria. Once approved, only your name will appear in the servicing of the loan.

Government home buyer schemes offer several benefits, including financial assistance or grants that can be used toward the purchase price or associated costs of buying a home. These schemes can help first-time buyers enter the property market, overcome affordability challenges, and reduce the financial burden of purchasing a home.

These are initiatives introduced by governments to assist individuals and families in purchasing their own homes. These schemes often provide financial incentives, grants, or assistance programs to help make homeownership more accessible and affordable.

Commercial loan rates are generally higher than residential loan rates, since interest rates vary according to loan purpose and the securities.

Yes, in most cases, security and collateral are required. However, lenders offer unsecured loans in some special
circumstances.

The loan size depends on various factors, including the lender’s policies, the borrower’s financials, the purpose of the loan, and the value of the collateral being offered. Generally, commercial loans can range from a few thousand dollars to millions of dollars.

Commercial loans can be used to fund a property purchase for a business or refinance a loan for a business.

Qualifying for a commercial loan generally requires meeting certain eligibility criteria set by lenders related to the purpose of the loan. Factors considered may include the borrower’s business financials, creditworthiness, business plan, collateral, and industry experience. Lenders may also evaluate the business’s cash flow, and
profitability.

Requirements may vary according to the borrower’s situation or background.

Yes. Some lenders specialise in offering products specifically designed for non-resident borrowers.

Non-resident home loans follow special lending parameters. Other than income considerations, some of the factors in non-resi loans are the type of visa you are holding and the property you want to purchase.

Yes. Non-residents may get a foreign investor loan in Australia.

Rates differ for every type of loan. Your broker may help you get a better negotiating power if you qualify with multiple lenders.

The first requirement to qualify for a government scheme is to be an Australian citizen. However, in 2023, the Home Guarantee Scheme was extended to include permanent residents.

A broker can give you a list of all suitable lenders along with the pros and cons of each one. By going to a broker, you will have access to a ton of helpful information to help you navigate a big life decision like owning a home.

In most cases, you don’t need to pay to use the services of a home loan broker.

An expert home loan broker knows ways to get you the best home loan deals by comparing the rates of different lenders as well as the fees that they charge.

Yes, brokers can assist you with refinancing. Just like with a new loan application, it typically starts with finding
you the best lender and loan product.

It depends on various factors. The average length of home loan application is 4 to 6 weeks from application to settlement.

The most common requirements are proof of income, recent bank statements, and personal identifications. Supporting documents will be required depending on your income source and residence status.

Your mortgage broker must have an Australian Credit Licence governed by the National Consumer Credit Protection Act.

Yes. Brokers can connect you with specialist lenders that give home loan products to people dealing with bad credit history or people who have eligibility problems to qualify through a traditional lender.

Brokers can assist you with your first home loan, property investment loan, car loan commercial loan, personal loan, debt consolidation, and more.

Yes. Brokers can assist you with every question you may have along the way connecting you to the right lenders suited for your needs.

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