Home loan options for Melbourne buyers, owners and investors

A broker compares lender policy, interest rates, fees, loan features and your borrowing position. The right option is not always the lowest headline rate.

Yes. Pre-approval can help you understand your likely budget, although final approval still depends on the property, valuation and lender checks.

Most lenders ask for ID, income evidence, savings history, existing loan statements, living expenses and details of the property or purchase contract.

Many brokers are paid a commission by the lender after a loan settles, so there is often no direct fee for the service. Where any fee does apply, it must be disclosed to you before you proceed.

Neither is better in every case. Fixed rates give repayment certainty for a set period, while variable rates may offer more flexibility and features such as offset accounts. The right mix depends on your circumstances and plans.

Timeframes vary with the lender and the complexity of the application. Some lenders assess straightforward applications within days, while others take longer — providing complete documents usually helps avoid delays.