How much deposit do I actually need?

Not a kidney, promise. Classic target is 20% (no LMI), but plenty of buyers get in with 5–10% - you may just pay Lenders Mortgage Insurance (LMI) or use a government guarantee if eligible. We’ll map what’s realistic for you and keep a buffer so you can still afford pizza.

What on earth is LMI - should I avoid it?

LMI isn’t a villain; it’s a ticket to board early when you don’t have a full 20%. It protects the lender, not you, but if it gets you into a good home sooner (and you keep a cash buffer), it can make sense. We’ll compare “wait & save” vs “buy now with LMI” like grown-ups who also like spreadsheets.

Fixed, variable, or split - help!

Fixed: certainty now, less flexibility. Variable: flexible, can fall (or rise) with rates. Split: the Goldilocks option. We’ll model repayments and stress-test them so your budget survives rate wiggles and the occasional splurge at Bunnings.

How much can I borrow?

Banks run your income, expenses, and debts through a stress test (higher ‘buffered’ interest rate). We’ll do a reality check first, then get a pre-approval so you know your budget before you start falling in love with sunrooms.

What costs are there besides the deposit?

The “grown-up” list: stamp duty (varies by state), legal/conveyancing, building & pest, lender fees, mortgage registration, moving , and possibly LMI . We’ll give you a neat cost sheet so nothing jumps out from behind the couch.

What’s pre-approval - does it mean I’m guaranteed?

Pre-approval = a conditional thumbs-up based on your info at the time. It’s not a pinky-promise; the property still has to value up and your situation can’t change wildly. Still, it’s essential for shopping with confidence (and for agents to take you seriously).

Can Mum & Dad help as guarantors?

Yep—often called a family guarantee/pledge . It can reduce or remove LMI and help you buy with a smaller cash deposit. It’s powerful, but it’s serious business for your parents, so we’ll explain risk, limits, and exit plans so Christmas lunch stays friendly.

What’s an offset account and why do people rave about it?

An offset is a bank account linked to your home loan. Every dollar sitting there reduces the interest you pay. It’s flexible, tidy for records, and great for building a safety buffer. (Redraw can be fine too, but offset is the neat freak of the two.)

Should I buy a fixer-upper or move-in-ready?

Depends on your time, budget, and nerves . Reno properties can be great if you’ve got cash buffers and a plan; turnkey is calmer for first-timers. We’ll also check how the lender treats the place—some “projects” aren’t as bank-friendly as the listing suggests.

Are there first-home buyer concessions or schemes?

yes - things like stamp duty concessions , grants , or guarantee schemes (eligibility applies and rules change). We’ll check what’s available for your situation and state so you don’t miss free help. (We love free help.)

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TRUSTED BY REAL CLIENTS

It has been a pleasure dealing with Vikas even though it was for a very short duration. We were looking for refinancing our home loan and reached out to him... read more

Kanika G.

Very helpful and professional service with vast knowledge. We are highly satisfied and happy to recommend.

Desi R.

It's had been a pleasure working with Vikas. He is hard working , approachable and readily available to answer all your queries.

S J.

Vikas is a great mortgage broker who not only helped us with home loans but also seemlessly helped to buy a commercial property (which we thought would be impossible) .... read more

Madhuri S.

Hey folks, Vikas was introduced to me by himself. 👍 . It was for a genuine guidance on what to look for when refinancing a loan. Parted away after couple... read more

Gurusubramanian S.

I had an amazing experience with Vikas from Fine Loans. He was an absolute lifesaver in helping me purchase my dream property. From start to finish, he went above and... read more

Karanjit C.

Vikas is highly efficient and always goes above and beyond to assist clients. I truly appreciate his dedicated efforts and expert advice throughout the journey. Very helpful. Highly recommended.

Vihana B.

I recently had the pleasure of working with Vikas after a recommendation from my friend and I was impressed after the first call. He guided me through every step of... read more

online b.

It has been an absolute pleasure working with Vikas for refinancing our loan for better rates in these uncertain times. Vikas came up with ingenious ideas and guided us in... read more

Romit A.
Vikas is highly efficient and responds to any queries quickly.The entire application process was easy and straightforward,thanks to Vikas. Highly recommend.

aparna k.

Great Mortgage Broker. Proactive in his actions throughout the process and provides with multiple good options with cashbacks and lower mortgage rate options across multiple small and Big 4... read more vendors.

Harish S.

Highly recommended!! I thank Vikas for all his help and guidance throughout my first home purchase process. For a first home buyer like me he handheld me through out... read more

Veeranjaneyulu K.

Very prompt and detailed. Vikas guided us well on the entire process of loan application.

Amit

I was referred to Vikas via one of my good friend who had used his services and was very impressed with the quality. I can only echo his experience. Right... read more

Jatin J.

We got in contact with Vikas after the terrible experience with another Mortgage Broker. Vikas understood our refinance requirement and gave us the right options and tactically helped in every... read more

abhi

We had a great experience working with Vikas for our home loan. He was very helpful and always available to answer queries. Had a quick turnaround for approval and kept... read more

Buddhika G.

Highly recommended!! I thank Vikas for all his help and guidance throughout my first home purchase process. For a first home buyer like me he handheld me through out... read more

Veeru K.

We had the pleasure of working with Vikas (Fineloans) to secure our dream home, and the experience was nothing short of exceptional. From the moment we began the process until... read more

Kalaivani C.
Highly recommended . I have used their services for my first home is extremely satisfied with the services ,interactions and outcome

Nishi N.

Vikas from Fine Loans was incredible to work with for my first home purchase and we got an early settlement done just before the Christmas holidays. He has a... read more

Sreenath R.

Prompt response and excellent communication. Thorough research when providing suggestions and options.

Roxanne S.

We had the pleasure of receiving Vikas’s exceptional services as a mortgage broker. We recently used Vikas to refinance our house, and he was awesome. He is very knowledgeable, professional,... read more

Sharath T.

Can’t believe that the loan was approved within 72 hours of submitting the documents. Portal to update docs in secure way. Very clear instructions on what is required so NO... read more

Varun K.

Excellent professional service in a very helpful manner. We love to recommend to our family and friends honestly.

Prodipto R.

Vikas: A Top-Notch Mortgage Broker! I had the pleasure of working with Vikas over the past couple of months, and I can confidently say that he is an exceptional... read more

akshay K.

Can’t believe that the loan was approved within 72 hours of submitting the documents. Portal to update docs in secure way. Very clear instructions on what is required so NO... read more

Varun K.

We needed refinance for our home loan and Vikas helped us get the best deal. He is highly professional, extremely patient and responsive. He kept us informed at every step... read more

Sonal B.

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COMMON QUESTIONS

How much deposit do I actually need?

Not a kidney, promise. Classic target is 20% (no LMI), but plenty of buyers get in with 5–10% – you may just pay Lenders Mortgage Insurance (LMI) or use a government guarantee if eligible. We’ll map what’s realistic for you and keep a buffer so you can still afford pizza.
What on earth is LMI – should I avoid it?

LMI isn’t a villain; it’s a ticket to board early when you don’t have a full 20%. It protects the lender, not you, but if it gets you into a good home sooner (and you keep a cash buffer), it can make sense. We’ll compare “wait & save” vs “buy now with LMI” like grown-ups who also like spreadsheets.
Fixed, variable, or split – help!

Fixed: certainty now, less flexibility.
Variable: flexible, can fall (or rise) with rates.
Split: the Goldilocks option.
We’ll model repayments and stress-test them so your budget survives rate wiggles and the occasional splurge at Bunnings.
How much can I borrow?

Banks run your income, expenses, and debts through a stress test (higher ‘buffered’ interest rate). We’ll do a reality check first, then get a pre-approval so you know your budget before you start falling in love with sunrooms.
What costs are there besides the deposit?

The “grown-up” list: stamp duty (varies by state), legal/conveyancing, building & pest, lender fees, mortgage registration, moving, and possibly LMI. We’ll give you a neat cost sheet so nothing jumps out from behind the couch.
What’s pre-approval – does it mean I’m guaranteed?

Pre-approval = a conditional thumbs-up based on your info at the time. It’s not a pinky-promise; the property still has to value up and your situation can’t change wildly. Still, it’s essential for shopping with confidence (and for agents to take you seriously).
Can Mum & Dad help as guarantors?

Yep—often called a family guarantee/pledge. It can reduce or remove LMI and help you buy with a smaller cash deposit. It’s powerful, but it’s serious business for your parents, so we’ll explain risk, limits, and exit plans so Christmas lunch stays friendly.
What’s an offset account and why do people rave about it?

An offset is a bank account linked to your home loan. Every dollar sitting there reduces the interest you pay. It’s flexible, tidy for records, and great for building a safety buffer. (Redraw can be fine too, but offset is the neat freak of the two.)
Should I buy a fixer-upper or move-in-ready?

Depends on your time, budget, and nerves. Reno properties can be great if you’ve got cash buffers and a plan; turnkey is calmer for first-timers. We’ll also check how the lender treats the place—some “projects” aren’t as bank-friendly as the listing suggests.
Are there first-home buyer concessions or schemes?

yes – things like stamp duty concessions, grants, or guarantee schemes (eligibility applies and rules change). We’ll check what’s available for your situation and state so you don’t miss free help. (We love free help.)