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 for guidance around best interest rates available. He swiftly responded to our request without looking at his self interest. We are looking forward to future transactions with him.

Kanika A.

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

Desi R.

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 of message exchanges. But, the my current MB did not get what I was expecting , turned to Vikas for guidance. Good decision to get expert help. He guided me on the full process , listened to my requirements, skillfully handled the entire process of refinancing. Best part was the consistent flow of information to you. There is nothing called as “out of office hours”. Your preferred time is his working time. Skilled. Certified. Fast processing time. Meets your requirements for Refinancing.( this was written in 2021). 2023!- Given that I had good experience in 2021, continued the conversation with Vikas for buying my next property (by selling current one ). I know MB support the clients. But vikas supoort was more than I could ask for. Have had numerous discussions and probabilities with variables as suburb,lvr, required deposit, interest rates ( which didn’t help as it was rising like no other day). We should have done around 20-30 samples for getting a comfortable number for me. The slight nudge from Vikas helped to increase my overall deposit to get a better deal. Have referred Vikas for many people in last 2 years and all have been happy, benefiting from his experience and fast communication.

Gurusubramanian S.

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

Prodipto R.

Vikas was so wonderful and gracious to us during the entire process of our home loan. His knowledge and professionalism made the process run smoothly, for which we are very... read more grateful. Could not have asked for a more down-to-earth, knowledgeable and helpful broker. It has been a pleasure to work with Vikas. Highly recommend him for anyone looking for a mortgage broker.

Nelangi G.

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 mortgage broker. His commitment to securing the best bank offer with the lowest possible interest rate truly impressed me. He is proactive and responsive. He knows the mortgage business inside out as he guided me through the complexities effortlessly. He understands that one size doesn’t fit all and recommended banks that perfectly aligned with my needs. I am grateful to him for working tirelessly to get me the best deals. I felt like a priority client throughout the process. My experience with Vikas has been incredibly satisfying. If you’re looking for an efficient mortgage broker, I wholeheartedly recommend Vikas to anyone seeking expert guidance in securing a home loan. Thank you, Vikas, for your outstanding service!

akshay K.

I recently had the pleasure of working with Vikas and I couldn't be more impressed. His professionalism was exemplary, guiding me through every step of the mortgage process (refinance) with... read more a keen eye on my best interests. Not only did he demonstrate an extensive knowledge of the industry, but also took the time to educate me, ensuring I fully understood each aspect of the process. His dedication to putting the client first was evident in every interaction, making the entire experience smooth and stress-free. I highly recommend Vikas to anyone in need of mortgage services.

Sreekanth M.

Vikas has been very professional and responsive in answering all my queries related to home loan of my first property. He is very knowledgeable and is an expert in... read more this field.

Nitin M.

Vikas was very proactive, efficient and ensured that I was well informed where I was at in the process. His professionalism made buying my first home a less stressful process. Being... read more a first time buyer, we had little knowledge of the process and needed to learn as we went along. He was always readily available and responded quickly to any needs that arose. He did an amazing job guiding us through the approval process and continues to support us to this date. I highly recommend Vikas to anyone in need of a mortgage broker. Thanks Vikas for all the support.

Sibin J.
Vikas is an amazing mortgage broker. He responds extremely quickly to all queries and communicated exceptionally on all our loan options. We were unsure which lender was the best match for... read more us and Vikas went through our different loan choices and helped me to find a great lender for our situation. My partner and I were surprised and impressed at how fast we were approved and it was all due to Vikas' fast and proactive approach. If you are looking for a great broker I would 100% recommend Vikas and would use him again.

Bennett S.

Vikash was someone I was referred by from some acquaintances, initially I was skeptical thinking he must be like other brokers who will push for any refinance just for their... read more business sake. To my utter surprise, this guy helped me with so much practical suggestions to better shape my loans which my current brokers failed to do and I can bet no great broker like Vikash will provide such suggestions w/o actually refinancing your loans. I am so thankful to Vikash and really embarrassed to think that he didn’t get a single cent out of the time and knowledge he shared with me. I am looking forward to work with you soon Vikash and you are 100% recommended to all my friend circle and outside.

Suparna B.

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 us updated at each step. Highly recommend him for anyone looking for a mortgage broker.

Buddhika G.

Vikas played an instrumental role in helping us secure our dream home. He went above and beyond by providing us with a thorough explanation of all the intricate details and... read more patiently addressing our questions and concerns related to mortgage loans. Additionally, he assisted us in selecting the most suitable mortgage provider offering the most competitive interest rates currently accessible in the market. We enthusiastically endorse Vikas for his exceptional services in handling all your mortgage-related needs.

Elangovan N.

Fine Loans aka Vikas is an amazing professional to deal with. If you need good service, rates, professionalism; Vikas is your guy. He is available when is most needed and... read more that what counts. Being a Buyers Agent, I need responsive brokers and he is always performing above expectations. I highly recommend him. Thank you for your 5-star service bud.

Ashish M.

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 the process with a keen eye on my best interests. His dedication to putting the client first was evident in all the interaction, making the entire experience seamless. I highly recommend Vikas to anyone in need of any mortgage services.

online b.

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 back and forth for resubmitting, certifying etc. Excellent service, Highly recommended!

Varun K.

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 caring attitude and is easy to work with. He even worked with my Conveyancer & Real Estate agent directly to make the entire process hassle free. His timely advise helped us get some cash back from the bank as well. Being a first home buyer, we had so many questions. Vikas answered all my questions with patience and explained the entire process in simple terms. I highly recommend his sevices. Trust Vikas and you won’t go wrong!

Sreenath R.

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

Amit
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 stage of the process. Since our requirement involved various considerations, the right product need to be selected from plethora of products across many Banks. He engaged us from beginning and responded promptly at each stage. Dealing with Vikas is been a delightful experience and exceeded our expectations. Highly recommended to anyone looking for someone who can give genuine advice and service. Cheers

abhi

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 right direction to help get us the best offer available. Looking forward to do more transactions with him in future. All the best Vikas !

Romit A.

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 of the process and guided us through and through. At this time in the market where interest rates are much higher than what they were two tears ago, Vikas helped us find the right bank and the best interest rates in the market. He responded to our messages and calls as soon as possible and cleared all our doubts with utmost care and with all the details we needed. He explained everything in layman’s language for us to understand. Highly recommend his services for loans and brokerage.

Sonal B.

We had a pleasant experience working with Vikas. He was responsive, professional and his actions followed his words.

Raghava T.

Vikas was a game changer in my case as I had an early settlement! Very professional and the options he brings to the plate is helpful. Also, he educate the... read more clients to help them understand the financial terms and helps them choose the right product. Vikas’s knowledge is highly commendable and his best-interest to support the client is exemplifying! Recommend Vikas and Fineloans to anyone in need and I am sure you would enjoy the process, too! Good luck team #Fineloans #mortgage

Bernie S.

Vikas was a game changer in my case as I had an early settlement! Very professional and the options he brings to the plate is helpful. Also, he educate the... read more clients to help them understand the financial terms and helps them choose the right product. Vikas’s knowledge is highly commendable and his best-interest to support the client is exemplifying! Recommend Vikas and Fineloans to anyone in need and I am sure you would enjoy the process, too! Good luck team #Fineloans #mortgage

Bernie S.

Vikas is very knowledgeable mortage broker in Sydney property market. He is always reachable and clarified all queries which we have initially and helped us to get loan soon. He... read more also shared some personal suggestions when we decided to buy a property. I strongly recommend to any one to go with Vikas when you want to buy a property.

vivekreddy v.

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 the process whenever I needed answers. He is very patient always and never fails to call back however busy he was when he couldn't attend a call right away. He serves clients with honesty and one can gain how much ever knowledge they can from him and he is that patient to answer all the queries not just mortgage related but any step of the purchase process. JUST GO WITH HIM. Cheers!!

Veeranjaneyulu K.

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.

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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.)