Find answers to some of the most common questions from our members
When you don’t have enough money saved up for a deposit, your family can act as a guarantor if they hold equity in their own property. The family guarantee can only cover the deposit and related fees and charges involved in the purchase of your home.
The establishment fee, often referred to as ‘Application Fee’ or ‘Up Front Fee’, are the fees a lender might charge to cover their internal costs of processing your loan application.
A fixed interest rate is a locked-in rate that won’t change during a set period of the loan, so you know exactly what your repayments will be.
The First Home Owner Grant (or FHOG) is a scheme funded by some states and territories to assist first home owners buy, or build, a home. Eligible first home buyers get paid a one-off grant and the amount is determined by the date of the eligible purchase. Eligibility criteria and grant amounts vary, so check with your state or territory.
Credit rating is an assessment of your credit-worthiness. The credit rating is used to determine the risk you present to a lender, based on your borrowing and repayment history.
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