Ask Our Brokers A Question After Hours

personOtto Dargan access_timeFebruary 6, 2017

Need a home loan but not sure where to start? Have a question about the home buying process? Maybe you just want to get an idea if you qualify.

At Home Loan Experts, we understand that you have busy lives so you’re not always able to call our 1300 889 743 number during business hours.

That’s why our team of specialist mortgage brokers are available online after work hours and during weekends to answer your burning questions.

Alternatively, you can fill in our online enquiry form and we can get back to you with a free assessment.

How do I ask a question?

To get answers in real-time, you can start by getting in touch on our Live Chat messenger.

If at least one of our brokers is logged into the system, you’ll find the ‘Chat with us’ icon on the bottom right-corner of any of our webpages.

Simply click it and start your mortgage advice online chat with one of our brokers.

What if we’re not on Live Chat?

Our ‘Chat with us’ icon won’t always be active.

If your question isn’t urgent, you can always leave a question in the comments section located at the bottom of each of our website pages.

We manage our comments section 24/7 so, even if it’s after work hours, we’ll endeavour to have your question answered quickly.

You can also leave a question on our forum or complete our enquiry form if you want to get started with your home loan application.

What’s the best way to make an enquiry?

When we’re not helping customers with their home loan needs, we occasionally need to sleep, eat or watch a cat video on YouTube.

That means live chat mortgage advice won’t be available or it may take some time to answer your question in the comments section.

If you really want to get started on applying for a home loan, you’re best off making an online enquiry using our simple assessment form.

You have the option to make comments and ask questions as part of your enquiry.

One of our mortgage brokers will contact you within 24 hours to discuss your situation.

The best part is that it’s absolutely free so there is no obligation to you.

We believe in educating Australians on their home loan options so they can make informed financial decisions.

What home loan types can we assist you with?

We know the banks’ policies and have agreements with some of them if your situation falls outside of traditional eligibility requirements. We can assist:

Want to speak to someone in person?

You can give our office a call on 1300 889 743 during business hours and we will put you in touch with the next available broker.

  • Akhilesh Singh

    how much in percentage you will lend for a unit in Southport QLD?

  • Hi Akhilesh,

    It depends on the unit type but up to 95% with a normal loan and up to 105% with a guarantor loan. Please note that Southport is a high density location. If your unit is in a high rise building then some (but not all) lenders will reduce your loan to 80% of the property value.

  • Courtney Lynn Cockrell

    Hello we are first time home buyers but we need to get a personal loan and a moratage loan but was wondering if we get a personal loan will it hurt us getting a moratage loan and what if I get the personal loan in my name with him cosinging would that be better then him taking a personal loan in his name while applying for a moratage loan

  • Hi Courtney
    We’d have to look at your full situation to be sure. But in most cases it is best to get the mortgage first unless the personal loan is part of your deposit. If it’s part of your deposit then there are only a couple of lenders who will accept this

  • Courtney Lynn Cockrell

    well its really for taxes and paying off credit card but i have bad credit think its like 512 but his is 742 so the mortage will b in his name but if i get a personal loan in my name with him cosinging would that hurt him in getting the moratage loan…And his debt to income ratio is low…We have a couple thousand right now but was wanting that for closing cost or some down payment

  • It may be best to get your current debts under control before buying. Again we’d have to see your full situation to be sure.

    Best of luck!

  • Gareth

    Hi i exchanged contracts on a new build the other week just waiting to complete .. in the meantime my card has gone caput and needs £1000 spending on it could I put this on my credit card or would it affect the mortgage

  • Hi Gareth,
    In Australia this would have a negligible effect. In the UK I couldn’t be sure but as long as your card doesn’t go over the limit and is paid on time then this should be ok.

  • Gareth

    Thank you for the reply I think I’m going to wait until completion until I use the card thank you

  • Caitlin fletch

    Hi, my partner and I have been stuck in a renting rut for a while now and are struggling to save up for a deposit for home loan and I was wondering if there is a way we can get around it. My dad said he would be gaurentor for us but will that cover 100% of the loan and not require a deposit? Can we use our rental history as proof of “saving” per say? The property we are looking at is $149,000 if that makes any difference.

  • Yes you can borrow 100% if your dad guarantees your loan using his property

    Whereas without a guarantee you’ll find a rental history can help in that the bank will allow your deposit to come from any source as opposed to it being saved by you. So a gift from your dad would be an acceptable source of a deposit. It doesn’t mean that you don’t need a deposit. Without a guarantor you still need a deposit

  • FYI We cannot assist with loans under $300,000 at this time as we’re short staffed. However other mortgage brokers may be able to.

  • Nikita Horne ˚͜˚

    hi me and my partner are looking to buy a house with uk help to buy scheme and can only get a mortgage for £230000, the house we want to buy is £257500 do we have any options to get a larger mortgage?

  • Hi Nikita,
    We can only finance properties in Australia sorry.

  • Joanne Paroci

    My parent’s are going guarantor for us using a property with no mortgage.
    We’ve already been told our borrowing capacity was 558k with a 30k debt consolidation and stamp/legal cost by one of your brokers but havent heard back as he is probably busy.
    Question i wanted to ask is ive since commenced working part time permanent consisting of 25 hrs approx $550 gross. I am currently recieving fam tax a and b and husband also works full time (105k annually) with 3 dependents.
    I was told that by working it would def boost borrowing power but just curious to know how long id need to be in work for to be able to get an idea of how much more we could intially borrow if that makes sense.

    Could we apply right away or do we have to wait 3 months.

    Cant get much of a home for 558k in sydney.

  • Joanne Paroci

    Should state the husbands tax return last year was 79k but his projected outcome with weekly overtime was calculated to be 105k according to his YTD currently.

    Prior to working i was only receiving fam tax a and b of 850 per fortnight and will reduced to about half id say in a month or so.

    Which is why borrowing power was 558k max.

    So as it stands now i receive 850 per fortnight plus 550 per week until my working credits reduce.

    If that makes sense.

  • Hi Joanne,
    Sorry about that issue regarding our broker not getting back to you. Please call us on 1300 889 743 and ask for Maria and she can make sure that your file is being looked after.
    It’s hard to say how long you’d have to wait for your income to be accepted. The lenders that can do a guarantor loan with debt consolidation are also quite conservative when assessing income. I just checked their policy and it requires you to be in your job for 6 months before they will consider your income.

  • Joanne Paroci

    Thanks for your reply. I will give the broker until tuesday, feel bad as he has all our details etc anyhow. But thanks for that!
    Hmmm. Kind of confused now abit though,
    If my income cant be used to boost our power for an additional 6 months thats quite disappointing.

    We just do have a deposit hence why mums guaranteeing the loan.

    Weve been renting for almost 3 years at $520 per week etc hence wht no deposit. If that makes sense

  • Hi Joanne,
    Can you please send the broker a follow up email and cc maria at just to make sure.
    If you aren’t consolidating debt (i.e. just a guarantor loan) then we can use your income now. That’s based on what you’ve told me. The broker would know better as they’ve seen your whole situation

  • Joanne Paroci

    Ok may do that shortly thanks! So we can use my income only if we do not consolidate?
    Its just because my husband has a cba personal loan of 27k outstanding i believe and a 3000 harvey norman 50 month int free promotion via ge money.

    The broker said we should consolidate etc as they weekly amount he pays is 170 per week.
    Makes sense i guess.

    I used your borrowing calculator and the figure was spot on witb the original max borrowing power prior to me getting this job.

    Now its saying we can borrow up to 730k?.

    Hoping its pretty accurate haha.

  • If you consolidate and use your income as well then you can borrow more. However you may need to wait so that you can qualify.

  • Joanne Paroci

    Ok great to know.
    Will send an email atleast that way il know if its possible or how long i need to wait for.

    Appreciate the promot responses, you’ve been super helpful!
    Kindest regards!

  • No problem good luck with your purchase.

  • Gemma

    At what stage of home loan process will lenders protection plan insurance be offered? Before or after approval

  • Hi Gemma,
    LMI protects the lender not you, however they obtain the LMI policy at the same time as the loan is formally approved. You can read more about LMI here

  • Gemma

    Thanks for that but also when is the type of insurance offered for us to cover us Incase of illness etc not sure what it’s actually called? Hope that makes sense. Thanks

  • Hi Gemma
    There’s income protection insurance and mortgage protection insurance and trauma insurance which may help. I’m not an insurance expert however I’ll email you the details of an insurance expert that should be able to help you with this.

  • Gemma

    Thanks I have been given a quote for this insurance from the company I’m refinancing with but as yet to hear of my approval from them so wanted to know if this is a good sign if they have already offering insurance cover? So is this likey a good sign for an approval for my loan?

  • Hi Gemma,
    It’s hard to say without knowing the name of the lender and insurance provider. Personally we always believe it isn’t approved until you get the formal loan approval. Best not to rely on that as an indicator.

  • jamieprestage

    so my fiancé and I are desperately trying to get a mortgage the problem where having is his credit score is a 575 he has collections on his credit report 2 of the collections are doctors bills the other two are bills that we didn’t know were on their and no one will help us

  • Hi Jamie,
    For Australia 575 is usually a good enough credit score to get a loan. Are you in the USA by any chance?
    If you have a good deposit you can apply for a bad credit home loan and you should be accepted depending on the nature of your situation.

  • Tish

    My husband and I are looking into purchasing our home. However, we do not have a great credit history. What may be the chances of getting approved for an FHA home loan with a score of 618? Also, is it possible to ask for a loan and one spouse not be on the loan, but including that spouse’s income? I ask, becuase I have a lower credit score due to taking out a student loan. My student loan isn’t in default or anything, I just dont have to make any payments on it until after I finish with my education. Thoughts on what options are available and how to proceed?

  • Courtney Jayne

    My partner and I are about to start looking at a home loan for our first home. My boyfriend’s dad is going to be our guarantor. We both have car loans, my boyfriend’s is through finance in his business so we can’t pay it out, but mine is just a personal loan of about $7000. We have about $45,000 saved at the moment. Is it better that we pay off my car loan or continue to add to our savings?

  • Hi Courtney,
    It’s probably best that we get a full application from you and then we can let you know the best course of action. Likely it’s best for your savings to pay out your car loan but we can’t be sure just yet.
    Particularly self employed applications are more complicated and the income evidence your boyfriend can provide would determine the best way forward. You can contact us here

  • Briana Sukosd

    Hi! my boyfriend and i are in the process of trying to get an FHA loan for our first home. we require a co-borrower, and i was curious if it had to be related to him, since he is the one on the loan, i am not. but my grand parents could ci-sign, we wondered if they could since we are not married. thanks!

  • Hi Briana,
    FHA loans are in the USA and we’re in Australia so unfortunately we can’t advise on this. We can help with USA citizens buying a property in Australia or Australian citizens living in the USA who are buying a property in Australia

  • Dee

    I’m trying to purchase a home with my husband. Prior to our marriage I own a property that is now currently a rental. We have this property listed on our taxes. The rental income is enough to cover the mortgage. I have student loans and other debt but with this property push my debt to ratio over the percentage. My question is can this rental be excluded from the debt to ratio so it won’t impact if I can prove it is on our taxes and I receive rental payments.

  • Hi Dee,
    Your situation would be assessed in full including your rental property and any loans secured by it. You can’t exclude it in this case.

  • Dee

    Thank you for your quick response

  • Sarah Rice

    Hello, I’m looking into remortgaging my house for an additional 120k. We currently have a 110k$ Mortgage with 105K equity in the house as well. We are first time home owners and only had our mortgage for just over a year but we want to remortgage to do an addition on our home since our family is growing. What things would i need to bring with me to an appointment to get approved for a loan that size for something like this?

  • Hi Sarah,
    Yes that sounds doable. You should bring with you:
    – Evidence of your income e.g. payslips
    – Statements for your existing home loan (6 months)
    – Your internet banking login details (in case your broker needs more statements)
    – As much ID as possible
    – If available, details of the renovations that you’d like to complete
    Best of luck with your renovation

  • Lisa Herd

    Hello, My partner and I are looking at buying either land or a house. We can either keep renting buy a $50k 1 acre block of Bush residential to pay off quick thinking to use as equity to then buy house. Or keep renting buy a 800m rural residential for $80k qualifying us for the extra $10k to build down the track. Or opportunity to buy small 3bdr house $260k in town. I’m on carers pension getting around $25,000 in total a year, my partner is on 80k salery but just started job 1 month ago, I’m guessing we will have to wait min 3 months employment. We will have 15k deposit in 2 months. I’m eligible for first home buyers, can this be used on land? The 50k land is such good value and investment for future, but the opportunity to stop renting is exciting too.

    Any advice?
    Thank you

  • Hi Lisa,
    I’s day once your partner is 3 months in his job and you have $15k saved then it’s best to buy a house in town. Building a home is really difficult and there’s always unforeseen expenses. We don’t recommend building unless someone has a lot of spare money in case things go wrong.

  • Andie Red

    Hello, my partner and I are looking at buying an apartment as our first home. We are looking at one tomorrow, however its a property that is tenanted and was only rented out two months ago. The real estate agent said there is 10 months left on the lease.
    We would ideally want a property that we can move straight into once settled, but understand that if you buy a property with a fixed term lease that that lease stays in place no matter if the place is sold and that we would inherit that lease and the tenants.
    What would happen when applying for a mortgage? We don’t mind waiting til the tenants move out, but we are concerned that we’ll be paying extra interest for an investment property loan when its going to be our first home. Can the vendor offer an incentive to the tenants to move out? Can it be a condition on our offer that its subject to having the place vacant? I don’t quite know what to do! Any advice would be much appreciated.

  • Hi Andie,
    I assume the agents advice is correct on the lease as this can vary between states and tenancy agreements. If so then yes you need to wait 10 months to move in.
    When applying for the loan we can apply as a ‘home loan’ rather than an investment loan. So you’ll still get good rates. Not all lenders allow this.
    Yes you or the vendor can offer the tenants an incentive to move out. They may or may not accept it.
    You can ask for a long settlement so you only settle in 10 months and you take vacant possession.

    Just please make sure you have a pre-approval before you proceed with the offer. If you need our help then please call us on 1300 889 743. Good luck!

  • Valentina

    I understand that commercial lenders have a risk matrix where they take a whole bunch of things into account. Can I have a few examples of what it is that they consider?

  • Well the risk matrix of many commercial lenders will take into account the location of the security property, diversification of the property portfolio, condition and appeal of the security property, Loan to Value Ratio (LVR), etc. You can check out more about this here:

  • Shenay

    Hi, I’m in part 9 debt agreement I’ll have it payed out in two years. Will I be able to apply for a home loan after I’ve payed it out using a guarantor who is using there house to fund the %20 deposit or do I have to wait 5 years until the debt arrangement is off my credit file?

  • Hi Shenay
    You can proceed with a guarantor as an exception. The best structure is where:
    – Guarantor borrows on their property
    – Guarantor lends this to a lender or to you directly
    – You borrow 80% (if the guarantor lent you the other 20%) or 100% (if the guarantor lent the lender the 20%)
    If your guarantor isn’t working then the 2nd option is if they own a small part of your property, say 10% or so, then you can secure the loan on both properties. This isn’t ideal as the guarantee isn’t limited. However it does work.

    For either structure we would do more investigation into your situation than we do for most loans to make sure that we aren’t putting your guarantor at risk. E.g. have you made any savings? are you paying rent on time? what other evidence is there that you’re good with your money? Due to the part 9 agreement we just want to make 100% sure you’re ready before we help you to buy.

  • Shenay

    It’s my mum and her partners house which they own outright and they work. they want to use their house to pay the deposit for a home loan for me.

  • Yes we can do this. I’ll email you and cc one of our mortgage brokers trained in this area.

  • Chris Wright

    Hi there we have recently (2 months ago) bought a house that we bought with out much thought and we are really unhappy in it, we bought location over house and should of gone for house over location, it was our first home so we got the free stamp duty. We are considering next year either selling to buy another in a different area, or renting it out so we can rent in another place. My question is what are the possible obstacles in doing either.

  • Hi Chris,
    Yes you can do this but we’d need to do a full assessment to be sure which option is best and if you qualify. Selling and buying again is very expensive due to agents fees and stamp duty. If you can afford to keep it as an investment and you have sufficient equity / deposit to buy a 2nd property then this may be better in the long term.

  • CJ

    Hello, I am currently going through the home loan process and so far everything has been very smooth. I have submitted all of my financial information, job history, credit history, etc and my lender says the file looks good. I am more than qualified financially to purchase this home. They are now going back and getting tax records from 2014, 2015, 2016 from the IRS. I had some issues with my taxes in 2014 and never ended up filing. At the time I owed $300-$400 for that tax year but never finalized my filing with the IRS. Everything was filed and accepted for 2015 and 2016 so no issues there. I am in the process of trying to resolve this but I am set to close on my house in a couple weeks. How will this affect the closing?

  • Hi CJ,
    Sorry we’re not sure about how this would affect your closing. We’re Australian mortgage brokers. I hope it goes well for you.