Understand Your Finances Before You Buy, Refinance or Invest
A better property decision starts with understanding your finances.
A better property decision starts with understanding your finances. Before you search seriously for a home, bid at auction, refinance an existing mortgage, buy an investment property or take on additional property debt, it can be valuable to understand:
- Where your finances stand today
- What different borrowing scenarios could look like
- How different loan amounts could affect repayments
- How much deposit or equity you have
- What buying costs you should consider
- Minimal maintenance and transparent fees.
- Which home-loan structures are worth learning about
- What information you may need if you later decide to apply and
- What your next logical step should be.
Mortgage House can help you explore these questions directly. The objective is not to tell you what you can spend. It is to help you understand the financial information behind your own decision.
Understand first. Explore your options. Decide what feels sustainable. Apply only when you are ready.
A borrowing calculator, repayment calculator, readiness discussion, hypothetical borrowing scenario, document checklist or product discussion is for information, education and preparation. It does not represent a lending decision, reserved borrowing amount, commitment to provide finance or confirmation that a particular property can be financed.
Seven Questions Before You Take on a Home Loan
If you are beginning your home-loan journey, start with these questions.
What am I trying to achieve?
Are you:
- Buying your first home
- Buying your next home
- Investing
- Refinancing
- Building
- Renovating
- Exploring property equity
- Considering eligible debt restructuring
- Investigating another property-related financial objective?
What does my financial position look like today?
Understand your:
- Income
- Expenses
- Savings
- Assets
- Debts
- Credit limits
- Dependants
- Existing financial commitments
How much debt would I personally feel comfortable carrying?
A hypothetical borrowing figure and a comfortable level of debt are not necessarily the same thing.
What could different repayments mean for my household?
Explore several repayment scenarios rather than relying on one figure.
What will the complete property transaction cost?
Consider more than the purchase price and deposit.
How much money do I want left after the transaction?
Protecting an appropriate financial buffer can be just as important as accumulating the deposit.
What do I need to understand before I go further?
Identify missing information before property-market pressure turns it into an urgent problem.
What Is Home Loan Readiness?
Home loan readiness means understanding your financial position and preparing yourself for the possibility of seeking home finance. It can include:
- Reviewing income
- Reviewing household expenditure
- Understanding existing debt
- Identifying available savings
- Understanding your deposit
- Exploring property equity
- Modelling potential repayments
- Understanding property-buying costs
- Learning about different home-loan structures
- Preparing relevant financial information and
- Deciding whether taking the next step is right for you
The purpose is financial clarity and preparation. It is not a prediction of a future lending outcome.
Why Home Loan Readiness Matters
Buying property can combine financial pressure, emotional attachment and time pressure. That combination can make it easy to focus on the property before fully considering the debt.
Home loan readiness reverses that order. It starts with your finances, then considers your borrowing scenarios, then your preferred level of financial commitment, then the property and only after that whether you want to take the next step. This creates a more customer-controlled home-buying journey.
Benefits of Understanding Your Financial Position Before You Buy
Know Where You Stand Financially
A home-loan decision should start with an accurate understanding of your finances. Relevant information can include:
Income
- Salary
- Wages
- Self-employed income
- Rental income
- Commissions
- Overtime
- Bonuses
- Investment income
- Other relevant income
Expenses
- Housing costs
- Food
- Utilities
- Transport
- Insurance
- Childcare
- Education
- Medical costs
- Entertainment
- Subscriptions
- Property expenses
- Other regular household expenditure
Existing Debts
- Home loans
- Investment loans
- Personal loans
- Vehicle finance
- Credit cards
- Lines of credit
- Buy-now-pay-later obligations and
- Other financial liabilities.
Assets and Savings
- Cash
- Savings accounts
- Term deposits
- Investments
- Existing property
- Vehicles
- Other significant assets.
Understanding the complete picture is more useful than concentrating on income alone.
Explore How Much You Might Be Comfortable Borrowing
Many Australians begin with: “How much can I borrow?”
An equally important question is: “How much debt am I comfortable taking on?”
A borrowing-power calculator can help you explore hypothetical scenarios. You might compare:
- Lower Borrowing Scenario: A smaller loan amount that could mean lower repayments and more room within your household budget.
- Preferred Borrowing Scenario: A hypothetical amount closer to the property price range you currently want to investigate.
- Higher Borrowing Scenario: A larger hypothetical amount used to understand how additional debt could affect repayments, savings and household flexibility.
These scenarios are planning tools. They are not amounts Mortgage House has agreed to provide.
Understand Borrowing Power Versus Borrowing Comfort
Borrowing power and borrowing comfort are different concepts. A calculator uses information and assumptions to produce an indicative result. Your personal borrowing comfort should consider your real life. Ask yourself:
- What repayment would I be comfortable making each month?
- How much flexibility do I want in my household budget?
- What happens if interest rates increase?
- What happens if my income temporarily falls?
- What expenses could increase?
- Am I planning to have children?
- Are education costs likely to change?
- Will I need another vehicle?
- Do I have upcoming renovations?
- Do I want to continue travelling?
- Am I approaching retirement?
- What emergency savings do I want to retain?
A larger hypothetical borrowing figure is not automatically a better financial outcome.
Understand Your Repayments Before Taking on the Debt
The purchase price attracts attention. The repayments stay with you. Before deciding what property price range to investigate, explore what different repayment scenarios could mean for your household. Compare:
- Different loan amounts
- Different interest-rate assumptions
- Different loan terms
- Principal and interest repayments
- Interest-only scenarios where relevant
- Variable-rate scenarios
- Fixed-rate scenarios
- Split-loan scenarios
Consider both today’s hypothetical repayment and how your household might respond if circumstances changed.
Stress-Test Your Own Household Budget
Do not limit your planning to the most comfortable scenario. Ask:
- What happens if interest rates rise?
- What happens if one household income temporarily reduces?
- What happens if childcare becomes more expensive?
- What happens if insurance increases?
- What happens if the property needs an unexpected repair?
- What happens if I have a major medical or vehicle expense?
You do not need to predict the future perfectly. The purpose is to understand whether your preferred financial position leaves enough flexibility for ordinary life to change.
Understand the Complete Cost of Buying Property
The property price is not the complete transaction cost. Depending on your circumstances and location, you may also need to consider:
- Deposit
- Stamp duty
- Government charges
- Conveyancing or legal costs
- Building inspections
- Pest inspections
- Valuation costs where applicable
- Lender-related fees
- Lenders mortgage insurance where applicable
- Strata costs where relevant
- Home and contents insurance
- Moving costs
- Utility connections
- Immediate repairs
- Renovations
- Furniture
- Money you want to retain after settlement.
A realistic property budget considers the whole transaction.
Protect Your Financial Buffer
Ask a question that is sometimes overlooked: “How much money do I want left after buying the property?”
A financial buffer may help with:
- Unexpected repairs
- Insurance excesses
- Medical costs
- Temporary income disruption
- Vehicle repairs
- Family expenses
- Property maintenance
- Increases in household bills
- Other unexpected events
Using every available dollar to complete a transaction may leave less room for ordinary financial shocks. Your preferred buffer is part of your personal financial decision.
Build a More Realistic Property Search Range
Once you understand:
- Your savings
- Deposit
- Transaction costs
- Potential repayments
- Existing debts
- Household expenses
- Preferred financial buffer,
You can search for property more purposefully. This can help you consider:
- Appropriate property price ranges
- Different suburbs
- Houses versus apartments
- Established homes versus construction
- Whether additional saving may be useful
- Whether a smaller property better supports your broader objectives
- Whether another location provides better value
The purpose is not to stretch the budget until it reaches the property. It is to find property choices that fit the financial position you want.
Make Property Decisions With More Information
Before making an offer, ask:
- What will this property really cost?
- What deposit will I need?
- What transaction costs could apply?
- What ongoing ownership costs should I expect?
- What could repayments look like?
- What savings would remain?
- Does the property need immediate work?
- Have I completed appropriate property due diligence?
- Have I obtained appropriate legal advice?
- What assumptions am I relying on?
A property decision should be based on more than the advertised price.
Prepare More Carefully Before an Auction
Auction purchases can involve particular risk because the successful bidder may become legally committed without a finance condition. Before bidding, consider:
- Your personal maximum purchase price
- Deposit availability
- Purchase costs
- Potential repayments
- Legal review of the contract
- Building and pest considerations
- Property due diligence
- Financial buffer
- The consequences of an unconditional purchase
Do not treat a calculator result, borrowing scenario or readiness discussion as confirmation that finance will be available for an auction purchase. Obtain appropriate legal advice before entering an unconditional commitment.
Prepare Your Financial Information Earlier
Preparing information before you are under time pressure can make the process easier to understand. Depending on your circumstances, relevant information may include:
Identification
- Driver’s licence
- Passport
- Medicare card
- Other identification where required
Income Information
- Payslips
- Employment information
- Tax returns
- Notices of assessment
- Business financial statements
- BAS information where relevant
- Rental income information
- Other relevant income records
Assets
- Savings
- Property
- Investments
- Vehicles
- Other material assets
Liabilities
- Mortgages;
- Personal loans
- Car loans
- Credit cards
- Lines of credit
- Other liabilities
Transaction Information: Depending on the purpose, this could later include –
- Contract information
- Property information
- Building contracts
- Plans
- Specifications
- Rental information
- Details of the proposed use of funds
The exact information required varies according to the circumstances. Preparing information does not mean a lending decision has occurred.
Identify Financial Complexity Earlier
Not every borrower has a simple salary-and-savings position. You may want additional guidance if your circumstances involve:
- Self-employment
- Contracting
- Variable income
- Commissions
- Overtime
- Bonuses
- Multiple jobs
- Multiple properties
- Investment income
- Significant credit limits
- Gifted funds
- Construction
- Refinancing
- Property equity
- Debt restructuring
- Business purposes
- Another circumstance requiring explanation
Identifying complexity earlier gives you more time to understand what information could be relevant.
Understand Home Loan Features Before Choosing a Product
Interest rate is important. It is not the only feature of a home loan. Depending on the Mortgage House products you are investigating, you may wish to understand:
- Variable interest rates
- Fixed interest rates
- Split loans
- Principal and interest repayments
- Interest-only structures where relevant
- Offset accounts
- Redraw
- Lines of credit
- Fees
- Repayment flexibility
- Loan terms and
- Other product features
A product should be understood as a complete financial arrangement rather than a headline rate alone.
Understand Fixed Versus Variable Home Loans
Variable Rate: A variable interest rate can change over time. This means repayments may also change. Variable loans may offer features that differ from fixed-rate products.
Fixed Rate: A fixed-rate loan generally fixes the applicable interest rate for an agreed period under the product terms. Customers should understand –
- The fixed period
- Repayment conditions
- Limitations that may apply
- Possible break costs
- What occurs when the fixed period ends
Split Loan: A split structure may allow part of the lending to operate under a fixed structure and another part under a variable structure. The appropriate structure depends on the customer’s circumstances and objectives.
Learning about these structures does not establish individual eligibility for them.
Understand Offset Accounts and Redraw
An offset account and redraw facility are not the same thing. An offset account is generally a transaction account linked to an eligible home loan, with the balance used in accordance with the relevant product terms when calculating interest.
Redraw generally relates to accessing eligible additional repayments previously made to the loan, subject to the applicable product conditions. Customers should understand:
- Access
- Fees
- Eligibility
- Withdrawal conditions
- Interest treatment
- Product-specific terms
Ask Mortgage House how the relevant product works rather than assuming all offset and redraw facilities operate identically.
Why Deal Directly With Mortgage House?
Mortgage House is a lender. If you are investigating a Mortgage House home loan, you can speak directly with the organisation offering the relevant Mortgage House products. The principal benefit is clarity. It does not mean an early discussion determines a future lending outcome.
Start With Your Goal, Not a Product Name
You do not need to diagnose your own lending solution. Tell us what you are trying to achieve. For example:
- “I want to buy my first home.”
- “I want to refinance my current mortgage.”
- “I am considering another investment property.”
- “I am self-employed and want to understand what information I should prepare.”
- “I want to build.”
- “I have property equity and want to understand what I can investigate.”
Mortgage House can explain which products, information and pathways may be relevant to explore.
Ask Questions Directly
You can ask Mortgage House about:
- Mortgage House products
- Product features
- Documentation
- Process stages
- Calculators
- Terminology
- Next steps
- Information you may need
Reduce Unnecessary Information Handoffs
Direct communication about a Mortgage House lending enquiry can reduce unnecessary layers between the customer’s question and the lender’s explanation. Where information is required, the customer should understand:
- What is required
- Why it is relevant
- Who needs to provide it
- What happens next
- Whether anything else remains outstanding
Combine Digital Tools With Human Expertise
Some customers prefer to explore independently. Others want to talk through their circumstances. Mortgage House can support both. Use digital tools when you want to explore:
- Borrowing scenarios
- Repayment scenarios
- Budgeting
- Home-loan information
Speak with a Lending Specialist when you need help understanding:
- A product
- Terminology
- Documentation
- A more complicated financial situation
- The next logical step
Loan Purpose Flexibility
Home lending can be investigated for many different objectives. Understanding the purpose first helps customers ask better questions about the possible financial pathway.
First Home Buyers
Buying your first home can involve unfamiliar financial and legal concepts. Start by understanding:
- Savings
- Deposit
- Purchase costs
- Potential repayments
- Household budget
- Financial buffer
- Property price range
- Available home-loan structures
- Documentation
- The property-buying process
You may also wish to separately investigate current Australian and state or territory first-home-buyer schemes where relevant. Do not base a property commitment solely on a borrowing calculator.
Next Home Buyers
Existing homeowners may be:
- Upgrading
- Downsizing
- Relocating
- Changing property type
- Responding to changing family needs
Questions can include:
- Will the existing home be sold?
- Will it be retained?
- What debt remains?
- What equity exists?
- What will the next property cost?
- What transaction costs apply?
- How will the deposit be funded?
- Could settlement timing overlap?
- What might future repayments look like?
- What financial buffer should remain?
Mapping these questions before making commitments can reduce uncertainty.
Property Investors
Investment property decisions should consider both the borrowing and the investment. Relevant factors can include:
- Personal income
- Rental income
- Existing property debt
- Other liabilities
- Property expenses
- Rates
- Insurance
- Strata where relevant
- Maintenance
- Property management costs
- Potential vacancies
- Available savings
- Potential equity
- Possible repayments
- Overall portfolio exposure
Rental income and future capital growth are not guaranteed. A property investment decision should not rely solely on assumptions about future property values.
Refinancing
Refinancing involves replacing or restructuring existing lending. Customers may investigate refinancing to:
- Review their interest rate
- Change loan features
- Restructure repayments
- Change lenders
- Simplify lending
- Investigate eligible debt consolidation
- Investigate eligible property equity
- Support another eligible purpose
Before comparing alternatives, understand your existing mortgage. Record:
- Balance
- Current interest rate
- Repayment amount
- Remaining term
- Fixed-rate expiry where relevant
- Offset balance
- Redraw position
- Fees
- Discharge costs
- Features you actually use
Then compare the complete financial outcome. A lower advertised rate does not automatically mean a better refinancing result.
Self-Employed Australians
Self-employed borrowers can have financial circumstances that differ materially from PAYG employees. Depending on the circumstances, relevant information may include:
- Business structure
- Trading history
- Personal tax returns
- Business tax returns
- Notices of assessment
- Business financial statements
- BAS
- Business bank statements
- Personal bank statements
- Business liabilities
- Personal liabilities
- Accountant-prepared information
Do not assume the documentation required for another customer will necessarily apply to you. Speak directly with Mortgage House about what information may be relevant to your circumstances.
Construction and New Homes
Building a home can involve additional financial and contractual complexity. Customers may need to consider:
- Land
- Building contract
- Builder
- Plans
- Specifications
- Total construction cost
- Variations
- Valuation
- Available savings
- Progress payments
- Contingency funds
- Construction timetable
Understand the financial process before entering major construction commitments.
Renovations
Renovation funding requirements can vary substantially depending on the project. Consider:
- Project scope
- Expected cost
- Contingency
- Property value
- Existing debt
- Savings
- Possible property equity
- Builder arrangements
- Structural work
- Approvals
- Progress payments
- Where you will live during construction if relevant
A cosmetic renovation and a major structural project may require very different planning.
Property Equity
Property equity is broadly the difference between a property’s value and the debt secured against it. Having equity does not mean the same amount is available to borrow. If you want to explore property equity, consider:
- Current property value
- Existing secured debt
- Purpose of the proposed funds
- Potential future repayments
- Broader household finances
- The amount of debt you would personally be comfortable carrying.
Mortgage House can explain relevant product information and the process if you later decide to go further.
Eligible Debt Consolidation
Debt consolidation can appear attractive because mortgage interest rates may differ from rates applying to some other debts. But the interest rate is only part of the calculation. If shorter-term debt is moved into a mortgage and repaid over a much longer period, the total interest paid could increase.
Before investigating debt consolidation, record:
- Each debt balance
- Interest rate
- Repayment
- Remaining term
- Fees
- Proposed replacement term
- Possible total interest
- Whether existing facilities would remain open
The objective should be to understand the complete financial effect, not merely the new monthly repayment.
Business-Related Purposes
Some property-secured lending enquiries involve business purposes. Business-purpose lending can differ from consumer home lending in:
- Products
- Documentation
- Process
- Legal treatment
- Assessment requirements
- Regulatory treatment
Clearly explain the intended purpose of funds so Mortgage House can direct you towards the appropriate information and pathway.
The Mortgage House Home Loan Readiness Process
- Define Your Objective: Write down what you are trying to achieve.
- Calculate Your Income: Understand all relevant income sources.
- Record Your Real Household Expenses: Use realistic figures.
- List Every Existing Debt: Include limits and repayments where relevant.
- Understand Your Savings and Assets: Separate money available for the transaction from the financial buffer you want to retain.
- Estimate the Complete Transaction Cost: Include property price, deposit and other expected costs.
- Explore Borrowing Scenarios: Use calculators to investigate possibilities. Treat every result as indicative planning information.
- Explore Repayment Scenarios: Compare several loan amounts and assumptions.
- Stress-Test Your Household Budget: Consider how changes in rates, income and expenses could affect you.
- Set Your Personal Comfort Range: Decide what level of repayment and debt feels sustainable to you.
- Prepare Financial Information: Organise relevant documents before you are under pressure.
- Learn About Home Loan Structures: Understand fixed, variable, split, offset and other relevant features.
- Speak With Mortgage House if You Need Help: Ask questions about Mortgage House products, documents, process and terminology.
- Resolve Unknowns: Do not proceed while material questions remain unanswered.
- Decide Whether You Want to Go Further: The decision remains yours.
- Enter a Separate Formal Application Process Only When You Choose To: If you later decide to seek credit, Mortgage House can explain the separate formal process and the information required.
Nothing in Steps 1–15 determines the outcome of that later process.
What Home Loan Readiness Can Help You Understand
It can help you understand:
- Your finances
- Your income and expenses
- Your existing debts
- Your savings
- Your deposit
- Property costs
- Borrowing scenarios
- Repayment scenarios
- Financial buffers
- Product features
- Documentation
- Property objectives
- Questions requiring resolution
- Your next logical step
What Home Loan Readiness Does Not Do
It does not:
- Make a lending decision
- Reserve finance
- Reserve a borrowing amount
- Promise finance
- Guarantee finance
- Guarantee a loan amount
- Guarantee a product
- Guarantee an interest rate
- Confirm that a particular property can be financed
- Establish that future lending requirements will be satisfied
- Guarantee settlement
- Replace a formal application and lending process.
What Should I Do Next?
I Am Just Starting
I Have Started Looking at Properties
Review:
- Complete buying costs
- deposit
- Repayment scenarios
- Financial buffer
- Legal and property due diligence
I Am Considering an Auction
Prioritise:
- Contract review
- Legal advice
- Property due diligence
- Personal bidding limit
- Understanding the consequences of an unconditional purchase.
I Already Have a Mortgage
Start with a Home Loan Health Check or refinancing comparison.
I Am an Investor
Review your complete property portfolio, debt, rental income, expenses and cash reserves.
I Am Self-Employed
Start organising business and personal financial information and speak with Mortgage House about what may be relevant.
I Want to Build
Understand land, building contract, progress payments, valuation, contingency and construction requirements.
I Want to Use Property Equity
Understand your property value, existing debt, intended purpose and possible future repayments.
Questions Every Customer Should Ask Before Taking on More Property Debt
If you cannot answer a material question, resolve it before proceeding.
About Your Finances
- Do I understand my real monthly expenses?
- Do I know every debt I currently have?
- Do I understand my credit limits?
- Do I know how much savings I want to retain?
About the Property
- What is the complete purchase cost?
- What ongoing costs will ownership create?
- Does the property require repairs?
- Have I completed appropriate due diligence?
About Repayments
- What could repayments look like?
- What happens if rates change?
- What repayment would I personally be comfortable with?
About the Future
- Could my income change?
- Could family expenses increase?
- Am I planning another major purchase?
- Am I approaching retirement?
- Do I have enough financial flexibility?
About the Loan
- Do I understand the interest-rate structure?
- Do I understand the fees?
- Do I understand offset and redraw features?
- Do I understand the loan term?
- Do I understand what happens if circumstances change?
Frequently Asked Questions
What does home loan readiness mean?
Home loan readiness means understanding your finances, exploring possible borrowing and repayment scenarios, learning about relevant home-loan features and preparing information before deciding whether to seek credit.
How much can I borrow for a home?
The answer depends on your circumstances and the applicable lending requirements.
A borrowing-power calculator can provide an indicative scenario based on information and assumptions, but it does not determine a future lending outcome.
How much should I borrow?
The amount you choose to pursue should reflect more than a hypothetical borrowing figure.
Consider repayments, household expenses, future plans, financial buffers and your personal comfort with long-term debt.
What is borrowing power?
Borrowing power is an indicative calculation of potential borrowing based on information and assumptions.
It should be used as a planning tool rather than treated as available credit.
What affects borrowing power?
Relevant factors can include income, expenses, existing debts, credit limits, dependants, interest-rate assumptions and other financial circumstances.
Is a borrowing-power calculator a lending decision?
No.
It is a planning tool that produces an indicative result from the information and assumptions used.
Can a borrowing calculation change?
Yes.
Changes to income, expenses, debts, interest rates, lending requirements, property information or other circumstances can change the result.
How much deposit do I need?
Deposit requirements can vary depending on the transaction and applicable lending requirements.
Remember to consider purchasing costs and the financial buffer you want to retain as well as the deposit.
What other costs should I consider when buying a home?
Possible costs include stamp duty, government charges, legal costs, inspections, insurance, moving costs, lender-related costs where applicable and immediate property expenses.
How do I calculate mortgage repayments?
A repayment calculator can model hypothetical repayments using variables such as loan amount, interest rate and loan term. The result is an estimate.
Should I choose the largest loan amount a calculator shows?
Not necessarily. Your personal comfort with repayments and debt may be lower than a hypothetical borrowing figure.
What is a financial buffer?
A financial buffer is money retained to help manage unexpected costs or changes in circumstances. The appropriate amount depends on your individual position.
What documents might I need?
Depending on your circumstances, documents may include identification, income information, bank statements, loan statements, evidence of savings, liability information and self-employed financial records where relevant.
Can self-employed Australians explore their borrowing position?
Yes.
Self-employed customers can use calculators and speak with Mortgage House about the information that may be relevant to their circumstances.
Can first home buyers use the Mortgage House readiness process?
Yes.
First home buyers can use the process to understand savings, deposit, purchasing costs, repayment scenarios, documentation and the broader home-buying journey.
Can property investors use it?
Yes.
Investors can use it to better understand existing portfolio debt, rental income, expenses, potential equity, savings and possible repayment scenarios.
Can I explore refinancing?
Yes.
Start by understanding your existing mortgage and then compare possible alternatives on the complete financial outcome rather than interest rate alone.
Can I investigate property equity?
Yes.
Property equity can form part of your financial position, but equity is not the same as available borrowing capacity.
Can I explore debt consolidation?
Yes.
Carefully compare total interest, loan term, repayments, fees and the effect of converting shorter-term debts into longer-term mortgage debt.
Can I investigate construction finance?
Yes.
Construction requires additional consideration of land, building contracts, plans, costs, progress payments, valuation and contingency.
Can I rely on a readiness discussion before bidding at auction?
No.
A calculator, hypothetical scenario or readiness discussion should not be treated as confirmation that finance will be available for an unconditional auction purchase. Obtain appropriate legal advice before bidding.
Does talking to a Mortgage House Lending Specialist mean Mortgage House will lend to me?
No.
A Lending Specialist can explain Mortgage House products, information requirements, terminology and possible next steps.
Does providing documents mean finance has been agreed?
No.
Providing or preparing documents does not represent a lending decision.
Does Mortgage House reserve the borrowing figure shown by a calculator?
No.
An indicative calculator figure should not be treated as reserved finance or an available credit limit.
Can an interest rate change?
Interest rates and product terms can change. Customers should check current product information when considering their options.
What should I do first?
Start by understanding your income, expenses, debts, savings and objective.
Then explore borrowing and repayment scenarios and identify the questions you still need answered.
Take Control of Your Finances Before You Take on the Debt
A property may be one of the largest assets you ever buy. A mortgage may be one of the largest financial commitments you ever make. Treat both decisions accordingly. Before going further:
- Know what you earn.
- Know what you spend.
- Know what you owe.
- Know what you have saved.
- Understand the complete property cost.
- Explore different repayment scenarios.
- Decide what financial buffer you want to protect.
- Understand the product features you are considering.
- Ask questions where something is unclear.
- Understand the risks of an unconditional property commitment.
- Decide what level of debt feels sustainable for your household.
Then decide whether you want to take the next step.
Why Mortgage House?
Mortgage House has been helping Australians with home lending since 1986.
As a lender, Mortgage House can provide information about its own home- loan products and processes directly to customers.
You can use Mortgage House digital tools when you want to explore independently and speak with a Lending Specialist when you need human assistance.
This combination is designed to help customers move from: uncertainty to understanding to preparation to an informed decision about what to do next.
Your Next Step
Understand Your Borrowing Position
Explore hypothetical borrowing scenarios based on your financial information.
Understand Possible Repayments
Compare repayment scenarios across different hypothetical loan amounts.
Build Your Household Budget
Understand income, expenditure and the financial room you want to maintain.
Learn About Home Loan Options
Understand the characteristics of relevant Mortgage House home-loan products.
Speak Directly With Mortgage House
Have questions about Mortgage House products, documents or the process?
