Home Loan Broker Perth

A home loan is the money you borrow to buy a property. You repay it over time with interest. A mortgage is the legal security the lender holds over the property until the loan is fully paid. If the loan isn’t repaid, the lender can sell the property to recover the debt. Once the loan is cleared, the mortgage is removed.

Beyond the purchase price, you’ll need to budget for stamp duty, land transfer fees, mortgage registration fees, settlement costs and sometimes a bank application fee. If your deposit is under 20 percent, LMI may also apply. These upfront expenses vary by state and property type.

LVR (Loan to Value Ratio) measures how much you’re borrowing compared to the property value. A high LVR means a smaller deposit and may trigger LMI. A lower LVR gives you more loan options and may lead to better rates. Understanding LVR helps you estimate how much deposit you need and what costs may apply.

LMI (Lenders Mortgage Insurance) applies when your deposit is less than 20 percent. It protects the lender if you can’t repay the loan. It’s a one off fee that can be paid upfront or added to your loan. While it’s an extra cost, LMI allows buyers with smaller deposits to enter the property market sooner.

You may qualify for the FHOG if you’re 18 or older, an Australian citizen or permanent resident and buying or building a new home. You must not have owned property in Australia before. The grant offers ten thousand dollars and requires you to live in the home as your main residence. It only applies to new homes, not established ones.

From October 2025, eligible buyers can purchase with a 5 percent deposit and no LMI. You must be an Australian citizen or permanent resident and either a first home buyer or someone who hasn’t owned a home in the past ten years. You need to move in within six months. Friends and family can apply together.

WA offers strong stamp duty concessions for first home buyers. Homes under certain value limits may qualify for a full exemption or a partial discount. The thresholds differ for established homes, vacant land and off the plan properties. These concessions can save buyers thousands, so it’s worth checking current limits before purchasing.

Keystart is a WA government backed lender offering low deposit loans, sometimes from as little as 2 percent. There’s no LMI, which lowers entry costs. It’s designed for people who can afford repayments but find it hard to save a large deposit. Keystart loans work differently from bank loans, so understanding the structure is important.

It’s smart to review your loan every 1 to 3 years. You should also check your options when your fixed rate ends, your property value rises, your income changes or your repayments start feeling tight. Refinancing can help lower your rate, reduce repayments or unlock equity. Even a small rate drop can create long term savings.

Bridging finance lets you buy a new place before selling your current home. Your debt increases temporarily, known as peak debt. You usually make interest only payments during this period. When your old home sells, the sale funds reduce the loan, and the remaining balance becomes your new standard home loan. It helps avoid renting between moves and reduces timing pressure.