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Buy a new home

Buying a new home is an exciting journey, but it can also be a daunting task. One of the most significant steps in the process is securing a home loan. A home loan is a type of loan specifically designed to help you purchase a property. It allows you to borrow the funds you need to buy a home, and you can then pay back the loan over time, usually with interest.

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Home loan 101
Don't know much about home loans?
Check out our quick FAQs below and get started.
What is an interest rate?
An interest rate is the amount of money that is charged by a lender on top of the amount that you borrow, which is calculated as a percentage of the loan. The interest rate is usually determined by factors such as your credit score and the current market conditions.
Can I borrow 100% of the property price?
In most cases, you will need to have a deposit saved up in order to secure a home loan. Lenders typically require a minimum deposit of 5-20% of the property price. However, there are some circumstances where you may be able to borrow up to 100% of the property price, such as with a guarantor loan. It's important to speak with a mortgage broker to discuss your options and find the best solution for your individual circumstances.
Are all loan products the same?
No, not all loan products are the same. Different lenders offer different features, fees and interest rates, and they may have different criteria for assessing your application. It's important to compare loans from different lenders to find the one that suits your needs and budget. As a mortgage broker, Smart Mortgage can help you compare loan products and find the right one for you.
Home loan calculators
Use our calculators to work out the numbers for you. Our calculators are user-friendly and free to use, helping you make informed decisions and take the next steps towards your dream home.
How much I can borrow
What is my monthly repayment
how much should I save
Stamp duty calculator
loan features explanation
Understanding your home loan options
Choosing the right home loan can be overwhelming, but understanding the different options available to you is the first step. We explain the key loan features and help you decide what might work best for you.
Variable rate
Fixed rate
Loan term
Redraw facility
Offset account
Lender's mortgage insurance (LMI)
Variable rate
A variable rate interest loan is a loan where the interest rate can change over the life of the loan. This means that the interest rate you pay on your loan can increase or decrease depending on market conditions and the policies of the lender. If interest rates rise, your repayments will increase, and if interest rates fall, your repayments will decrease.
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Lastest Home loan tips and articles
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With over 40 lending institutions, we offer you an extensive choice of loans to suit your specific needs.
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Home loan FAQs for first home buyers
Most lenders require a minimum deposit of 5–20% of the property purchase price. If your deposit is less than 20%, you will generally need to pay Lender's Mortgage Insurance (LMI). Some eligible first home buyers may access government schemes that allow purchases with as little as a 5% deposit and no LMI.
The First Home Owner Grant is a one-off government payment available to eligible first home buyers purchasing or building a new home. In Queensland, eligible buyers may receive up to $30,000 for a new home under the relevant price threshold. Our brokers can help you confirm your eligibility and apply.
Conditional approval can often be obtained within 24–48 hours after submitting a complete application. Full (unconditional) approval typically takes 3–5 business days depending on the lender and complexity of your situation. Our team prepares your application carefully to minimise delays.
Lender's Mortgage Insurance (LMI) is a one-off premium that protects the lender — not the borrower — if you default on your loan. It is generally required when your deposit is less than 20% of the property value (LVR above 80%). LMI can be paid upfront or added to your loan balance.
Absolutely. Our Brisbane-based mortgage brokers specialise in guiding first home buyers through every step — from understanding your borrowing capacity to settling on your new home. We compare loans across 40+ lenders to find the right fit for your budget and goals.
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What our customer says about us
Testimonial
What our customer says about us
I have been with Ivy for 10 years. Ivy always exceeds my expectation and makes me feel my needs are a priority. Her professionalism and knowledge are of an extremely high standard and the communication and efficiency throughout the whole process was above and beyond. More than happy with the service from Ivy and Smart Mortgage and would not hesitate to recommend their services to others.
Yin Zhu
Onsite Manager of Rosewood Heights
My family uses Smart Mortgage to assist with the purchase of our home, investment, properties and commercial lending. Ben Ou, the Manager Director and his team are very experience and have always made our loan processes easy. I would highly recommend Smart Mortgage to my friends and clients who require finance for their properties. I am confident that the Smart Mortgage’s team will look after the customer’s best interests.
Simon Au
RE/MAX Number 1 Sales Team
Having worked with Angela for over 10 years, she has always been very professional and always puts my needs and interests first. Her work ethic is excellent and I trust in her abilities to always provide me with honest advice to help me reach my financial goals. My husband and I have several home and commercial properties with Smart Mortgage and I would highly recommend them to anyone who is looking for a company who truly puts your interests first.
Anh Pham
Manager at Queensland Soy Factory
I have dealt with Smart Mortgage for many years. There have been a few properties I have bought and sold over this period. Angela Duong is the person I have dealt with for my home loans. I have known Angela for over 10 years and have always found her and the staff at Smart Mortgage to provide outstanding services. Buying and selling houses are some of the most stressful things a person can go through in life. Knowing that Smart Mortgage are very professional and committed to the complete process from start to finish is a great relief.
Anne Poulton
Property Buyer
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