How much money can I borrow?

The amount of money you can borrow depends on your income and the value of the property being purchased.

Your income is based on your salary and also any other income you may receive such as rent from investment properties or pensions/assistance from Centrelink.

The amount is also based on the L.V.R or the Loan to Value Ratio, you are only allowed to borrow less than the value of the property you currently own or are purchasing.

How much do I need to save for a deposit?

A deposit amount is usually between 5% and 10%.   We are now also offering 100% loans.

What is the first home owners grant?

The First Home Owner Grant (FHOG) scheme was established to offset the effect of the GST on home ownership by providing a grant to first homeowners.

A one-off payment of up to $7,000 will be payable to eligible first home owners to help with their purchase or construction.

What is Lenders Mortgage Insurance?

The risk that the lender will lose money rises as the loan to valuation ratio rises. When it rises to over 80% most lenders consider that they need extra protection and take out insurance on your defaulting on the loan.

The result is that for loans over 80% of the value of the security property a lender's mortgage insurance premium is usually payable. This is a once off payment (because most of the risk that you will default is in the first few years of the loan term).

How does cashbackhomeloans work ?

Unlike many mortgage brokers we actually give you money back when you use our services .   And our service is also free - so why pay more?

Do I have a choice of Home Loan packages ?

We have access to different lenders and can offer different home loan packages for everyone from first home buyers to professional property investors.

What about Honeymoon rates or low interest loans ?

This offer includes honeymoon rates, low interest loans and professional packages. As long as we assist in processing your application we will put money in your pocket.

Can I refinance my existing home loan ?

Yes, you can use cashbackhomeloans to refinance your existing home loan or consolidate a number of debts into one. Our cashback offer is so competitive it takes much of the cost out of refinancing a loan.

What fees do we charge our customers ?  

NONE ! We don't charge any fees for our services! Even if you've had a troubled credit history you can still find brokers who will assist you free of charge. We do not charge you any fees for our service as your lender pays us for processing your loan application. It is our policy to disclose all commissions paid to us by your lender.

What does my employment status need to be to meet your criteria for a home loan?

In general, when applying for a standard home loan, you will need to have been in continuous employment for at least 6 months in a full time position or 1 year in a casual position.

I'm self-employed. Can I get a home loan?

Yes, we have loans for borrowers who are self-employed.

What documents do I need to have to apply for a home loan?

If you are employed full time (PAYG), you will need:

•  Current records of salary, including your most recent pay slip

•  Records of any other income

•  Proof of identity, e.g. drivers licence or passport

•  Current bank account details

•  List of assets and liabilities

If you are self-employed, you will also need:

•  Personal and company tax returns and notice of assessments from the last two years

•  Profit and loss statements and balance sheets from the last two years

See our checklist for details.

Do I require a valuation of my property?

Yes. All loans require a property valuation.   You may need to pay for a valuer to provide a proper up to date valuation.