Home loans
Home loans, set up with the next step in mind.
Finsap arranges home loans for people buying or upgrading a home. Danny Saputra looks at your income, deposit and plans, compares options from a panel of 30+ lenders, and sets up the loan so it still works if you later keep the home as an investment or buy again.
Credit is subject to lender criteria, assessment and approval. Fees, charges and eligibility criteria may apply.
Buying a home
How does Finsap help you buy a home?
Buying a home is usually the largest loan you will take on, so how it is set up matters as much as the rate. Danny starts with your income, deposit, existing debts and what you want the next five to ten years to look like. He then compares options from our panel of 30+ lenders and explains the trade-offs in plain language, including fees, features and how the loan affects your future borrowing.
He manages the application through to settlement, and reviews the loan with you each year after that.
Deposit
How much deposit do you need?
Lenders generally prefer a deposit of 20% of the property's value. Many will lend with a smaller deposit if you pay lenders mortgage insurance, and government schemes may help eligible buyers purchase with a smaller deposit. Purchase costs such as stamp duty, legal fees and inspections also need to be covered.
Danny will show you what each option costs, including any insurance, before you decide.
Loan features
Should you choose an offset account or redraw?
An offset account is a transaction account linked to your loan. Its balance reduces the interest charged on the loan, while the money stays in an account you can use. Redraw lets you take back extra repayments you have made, but the money is part of the loan.
If there is any chance the home becomes an investment property later, the difference matters, because how funds are held can affect your tax position. Speak with your accountant, and Danny can set up the loan so either option is available.
Next step
What if you plan to upgrade or keep this home later?
Many owners later keep their first home as an investment and buy again. If that is a possibility, it is worth planning for now: how the loan is split, whether an offset account is used, and which lender holds the loan. Getting this right at the start can make the next step simpler.
Our Investment Lending page explains how Danny structures loans across more than one property.
Questions
Common questions
Can I buy with less than a 20% deposit?
Often, yes. Many lenders accept a smaller deposit with lenders mortgage insurance, and eligible buyers may be able to use a government scheme. Lending is subject to the lender's assessment and approval.
What documents will I need?
Usually identification, recent payslips or other income evidence, bank statements, details of your debts and expenses, and the contract of sale once you have one. Danny will give you a checklist for your situation.
Should I get pre-approval?
Pre-approval gives you an indication of how much a lender may lend before you make an offer. It is not a final approval, and it is still subject to the lender's assessment of the property and your circumstances.
Do I pay Finsap a fee?
No separate broker fee is payable to us for our standard broking service. We may receive commission from the lender if your loan settles. Other lender, government, valuation, discharge, break or loan-related fees may apply.
Related
Where to next
General information only, not personal advice.
Speak to Danny
You deal with Danny Saputra directly.
- Call
- Book a Strategy Call with Danny