Things people ask

Your borrowing power depends on your income, expenses, debts, and dependants. Use our Borrowing Power Calculator for a personalised estimate. Australian lenders apply APRA's 3% serviceability buffer, meaning they assess your ability to repay at ~3% above the actual rate. From February 2026, APRA also introduced a debt-to-income cap of 6x income for new loans.

Stamp duty varies by state and property value. Use our Stamp Duty Calculator for an instant estimate. First home buyers may qualify for exemptions or concessions — thresholds differ by state. For example, NSW offers a full exemption up to $800,000 (from July 2025), while VIC exempts up to $600,000 with concessions phasing out to $750,000.

It depends on your circumstances. Fixed rates offer certainty — your repayments stay the same for 1-5 years. Variable rates are typically lower but can change when the RBA adjusts the cash rate. Many Australians split their loan (part fixed, part variable) to balance certainty with flexibility. Use our Fixed vs Variable Calculator to compare total costs.

Generally, you need at least 5% of the purchase price. However, with less than 20% deposit, you'll usually pay Lenders Mortgage Insurance (LMI). Through the First Home Guarantee scheme, eligible first home buyers can purchase with a 5% deposit and no LMI. A 20% deposit lets you avoid LMI entirely.

LMI is a one-off insurance premium that protects the lender if you default on your loan. It's typically required when your deposit is less than 20% of the property value. LMI can cost thousands of dollars and is usually added to your loan amount. The First Home Guarantee scheme allows eligible buyers to avoid LMI with a 5% deposit.

Several: the First Home Guarantee (5% deposit, no LMI), First Home Owner Grant (cash grant varying by state, up to $30,000 in some states for new builds), stamp duty concessions (state-dependent), the Help to Buy shared equity scheme, and the Family Home Guarantee for single parents. See our First Home Buyer guides for details.

An offset account is a transaction account linked to your home loan. The balance in the account "offsets" your loan balance for interest calculation purposes. For example, if you have a $500,000 loan and $50,000 in offset, you only pay interest on $450,000. This can save thousands in interest and years off your loan term.

Consider refinancing when: your fixed rate period is ending, market rates have dropped significantly, your financial situation has improved, you want different loan features, or you can get a cashback offer that outweighs any break costs. Use our Refinance Calculator to see if refinancing would save you money after fees.

Yes, completely. All calculators and guides are free. We don't require sign-up, don't collect your personal data, don't sell leads to brokers, and don't make sales calls. We're an independent information resource.

No. HomeLoanAi provides general information and calculator estimates only. We are not a lender, mortgage broker, or financial adviser. Our tools give you numbers to work with, but you should consult a licensed professional before making financial decisions.