Reverse mortgages: What are they?
If you’re an older Australian who owns their own home, you might have heard about using a reverse mortgage as a way to borrow money using the equity you’ve built up in your home.
How a mortgage broker can help you refinance your home loan
Thinking of refinancing? You’re not alone. The high cost of living has got many borrowers rethinking their home loan rates, features, and commitments, and seeking better options.
Is it better to pay your mortgage weekly, fortnightly or monthly?
Most borrowers choose to pay their home loan monthly and don’t realise they have the option to make fortnightly or weekly repayments. But did you know that increasing how often you pay could save you thousands of dollars on your home loan?
What is the average house deposit in Australia?
As Australian house prices continue to rise, the amount we need to save to get a home loan increases too. So what is the average home deposit in Australia in 2025?
Is a family trust a good idea? What Aussies need to know before setting one up
If you’ve ever heard someone say, “We set up a family trust,” you might have assumed it’s something only wealthy folks do. Lately, though, they’re popping up everywhere – on TikTok, Instagram, and other social platforms – thanks to a new wave of ‘finfluencers’ who are talking them up as a clever way to manage money and plan ahead.
Australian Government 5% Deposit Scheme: how first home buyers can get on the property ladder
The Australian Government 5% Deposit Scheme – formerly the Home Guarantee Scheme (HGS) – is an initiative administered by Housing Australia that helps eligible home buyers purchase a home sooner. It operates by providing a guarantee to a participating lender, enabling buyers to get a home loan with a smaller deposit and avoid Lenders Mortgage Insurance (LMI).
First Home Owner Grant: how much you get in every state and territory in Australia
Australia’s property market can be daunting for first home buyers, but there are a range of home loan grants, stamp duty concessions and home buying schemes that can help make owning a home more accessible and affordable.
A guide to the real costs of owning a home in Australia in 2025
Buying a home in Australia is rarely as simple as saving for a deposit and securing a mortgage. Mozo’s Home Loan Report 2025 found one in four Australians worry about affording mortgage repayments – but that’s just one of the costs they need to manage. The reality is that hidden and ongoing costs often catch buyers off guard.
Low doc home loans: A 2025 guide for the self-employed
Finding it tough to get a home loan when you're self-employed? You’re not alone. Many Aussies running their own businesses or freelancing find the traditional lending process tricky – and that’s where low doc home loans come in.
First Home Super Saver Scheme: Using super to buy your first home
The First Home Super Saver Scheme (FHSS scheme or FSSSS) lets you make voluntary contributions to your super and withdraw them later for a first home deposit. Unlike regular superannuation contributions that are locked away until retirement, FHSSS funds are accessible for first homebuyers, while still benefiting from tax advantages.
Home loan FAQs
Buying a home for the first time can be both stressful and liberating. So naturally, most people have a lot of questions about how it all works. To make the process easier, we’ve compiled the most frequently asked questions about home loans, covering everything from the difference between fixed and variable rates, to the right time to make an offer on a property.
Who has to pay off your home loan if you die?
For most Australians, paying off a home loan is a decades-long task. But what happens if you pass away before you get a chance to pay it off and discharge your mortgage?
Do banks consider your shares when you apply for a home loan?
Your investment portfolio can actually boost your borrowing power and impress a lender, however there are some caveats to be aware of when using your shares to strengthen your application.
Home Loan Glossary
The banking industry loves complex jargon. Even after working full-time in finance for the past three years, I still come across new terms and acronyms that need deciphering.
What is conveyancing? Costs and process explained
Buying or selling property can be a stressful process, but a conveyancer is one person we strongly recommend retaining to help you along the way.
How to pay off your home loan faster: Our tips to get ahead of your mortgage
Paying off your mortgage ahead of time can feel like a daunting task, but there are ways to pay down your home loan faster – and doing so can save you thousands in repayments.
Home loan repayments: interest-only vs principal and interest
There are two types of home loan repayment options: principal and interest (P&I), and interest-only (IO).
What is rental yield and how do you calculate it?
Most investors seek to maximise their return on investment, so why would it be any different when we talk about rental yields from an investment property?
What is a debt-to-income (DTI) ratio?
When you apply for a home loan, lenders use all sorts of measurements to understand if you’re a good fit for their product. One measurement involves calculating your debt-to-income (DTI) ratio.
How do I get pre-approval for a home loan?
Getting home loan pre-approval can be an important step on your way to buying a home. While not essential, it does give you an idea of how much you can borrow, and it signals to sellers that you’re a genuine prospective buyer.
How to avoid capital gains tax when selling your property
Capital gains tax (CGT) is a tax you pay when you sell an investment asset such as property and make a profit (a capital gain).
What is property valuation, and how much does it cost?
A property valuation is necessary if you’re applying for a home loan or want to find out how much your place is worth. But what is a property valuation, how does it work, and how much does it cost?
Which investment property expenses are tax deductible?
Owning an investment property comes with a whole host of expenses to cover, including property manager fees, repairs and maintenance, and your investment loan repayments.
Negative gearing: What it is and how it’s calculated
Negative gearing is a term you’ll often hear when talking about property investment, but what does it actually mean?
What is rentvesting and is it a good idea?
As a renter, it’s difficult enough to enter the property market, let alone buy a home you’re happy with at a price that won’t make you queasy. However, a home-buying strategy that’s growing in popularity, known as rentvesting, is seeing Australians swapping out traditional home loans for an investment property.
How to save for a house deposit
Buying a home is a significant milestone, but before you get your foot in the door you’ll have to save up for a house deposit.
Buying off the plan: benefits and risks of buying property before it’s built
When you buy off the plan, you’re buying a property that hasn’t been built or is in the process of being built – these properties tend to be apartment complexes and housing developments.
How much deposit do you need for a house?
Buying a home comes with all sorts of expenses. But before you get your foot in the door, you’ll need to save up for a house deposit and qualify for a home loan.
How do joint mortgages work?
Whether you’re planning to buy with friends, your partner, or a sibling, sharing a home loan with someone else can help you cut down on costs and even increase your borrowing power. This can be done through a joint mortgage.
What is a home loan redraw and how does it work?
Whether you’ve just started to compare home loans or you’re in the process of paying one off, there are plenty of home loan features you’ll likely come across, and home loan redraw is one of them.
How are mortgage repayments calculated? Home loan costs broken down
Mortgage repayments are calculated so that you chip away at the total cost of your home loan over time.
How to discharge your mortgage: what happens when you’ve paid off your home loan
Your mortgage can end for a few reasons – when you’ve paid it off in full, you’re refinancing to a new lender or you sell your property.
What is a loan-to-value ratio? How to calculate LVR
In home loans, a loan-to-value ratio (LVR) is the amount you’re borrowing, expressed as a percentage of the value of the property you’re buying. For example, 80% LVR means you’re borrowing 80% of the value of a property.
Home loan serviceability: What is it and how can you increase yours?
Lenders look at all sorts of criteria when you apply for a home loan so that they can assess whether you’re a good fit for their product. This can include your loan-to-value ratio (LVR), credit score, borrowing power, as well as something called home loan serviceability.
How to use home equity: buy an investment property, refinance your home loan and more
As you pay off your mortgage and build up your home equity, you can use it to refinance your home loan, purchase an investment property or even borrow funds for a home renovation.
What is home equity and how is it calculated?
Your home equity is the difference between how much your home is worth in the current market and how much you owe on your mortgage. In other words, your home equity represents the portion of your property that you own.
Can I get a home loan without a deposit?
Getting a home loan approved without a deposit isn’t common in Australia, unless you have a guarantor. A guarantor is usually a family member who offers equity in their own property as additional security for your new home loan.
What is an offset account, and how much could it save you?
You can’t overlook a home loan with an offset account if you want to save money. Not only can offsets shrink your monthly repayments, but they can slash the amount of interest you pay over the long term if you play your cards right.
What determines your home loan borrowing power?
Ready to buy a home, but aren’t sure how much you can afford to borrow? Working out your borrowing power can give you a good idea of how much a bank might lend you for a home loan.
Home loan portability: transfer your mortgage to another property
A home loan is a decades-long commitment. But what happens if you decide to move because your family is growing, you want to downsize, or to get closer to work?
What is mortgage stress?
Mortgage stress in Australia is defined as spending 30% or more of your pre-tax income on home loan repayments. It’s not a science, but a generally accepted threshold for measuring home loan affordability.
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The Ultimate Guide to Cash Out Refinancing: Unlocking the Hidden Equity in Your Home
Refinancing your home can be a useful way of getting a better deal on your mortgage. Sometimes, borrowers opt for cash out refinancing to access some of their equity as well.
Fixed vs variable home loans
Different types of home loan interest rates have pros and cons and can affect how much you pay. The two most common types are fixed and variable rates. But what’s the difference between the two, and how do you choose the one that best suits your needs?
How to get a home loan in Australia: Our step by step guide
Buying a home is a huge financial commitment, and it can feel a little overwhelming if you’re not sure where to start. In our dedicated guide, we’re outlining all the steps for getting a home loan in Australia, and the factors you should consider along the way.
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What is home loan settlement?
Settlement is the last step in getting a home loan and is the part of the process when your lender formally approves your mortgage and you purchase your home.
Refinancing your home loan with bad credit
Interest rate hikes have dialled up the pressure on borrowers over the past couple of years. As a result, many have been keen to refinance their home loans and escape rising repayments.
Can you break a fixed rate home loan early?
If your circumstances change and a fixed home loan no longer suits your needs, you can get out of it early, often by paying a break fee.
4 reasons to break up with your home loan lender
When you find your home loan lender, it might feel like you've met your one and only. While the romance might come thick and fast in the honeymoon period, sometimes the seven year itch can come early.
What happens if you default on a home loan?
Taking out a home loan is a huge financial commitment which can span up to 30 years, and anybody’s financial situation can change over such a lengthy time period.
Regional First Home Buyer Guarantee: What does it offer home buyers?
There are a number of government home loan schemes in Australia which can help you buy a home, and one of those is the Regional First Home Buyer Guarantee (RFHBG).
What happens if my home loan application gets rejected?
So, you’ve gone through the effort of finding a home loan, collecting all the documents you need, and finally applying for it, only to find out that your application has been rejected. What now?*
What is negative equity and what can you do about it?
Negative equity is when the amount you owe on your home loan is greater than what the property is worth in the current market. In other words, the debt you owe is more than the total value of the asset.
Mortgage protection insurance explained: Do you need it and what’s covered?
Buying a home is a huge financial responsibility which comes with a level of risk, but there are products available which can provide you some security if you’re suddenly unable to make your mortgage repayments due to uncontrollable circumstances.
Lenders mortgage insurance and mortgage protection insurance: What’s the difference?
There’s plenty of jargon you’ll need to wrap your head around when looking to buy a home, and one common source of confusion is the difference between lenders mortgage insurance (LMI) and mortgage protection insurance (MPI). Let’s unpack these terms so you can better understand how these products could help you in your home buying journey.
Lenders mortgage insurance: What is it and how is it calculated?
Saving for a home loan deposit can be seriously challenging in today’s market, so what happens if you’re struggling to meet the recommended 20% of the property’s value?
Types of home loans in Australia
In Australia, there are plenty of different home loans available to cater to different borrowers. Below, we break down the main types of home loans out there to help you find the one that suits your financial situation.
How the government's Help to Buy scheme works
The federal Labor government introduced the Help to Buy scheme in May 2022. Two years on, Labor’s plan to help Australians purchase a home is closer than ever to reality.
Can you afford an $800,000 home? Here’s how much you’ll need
The first step when buying a home is saving up for a home loan deposit. The first deposit is typically 20% of the property purchase price, so for an $800,000 home, you’ll typically be looking at a deposit of $160,000.
What is stamp duty, and how does it work?
If you’re in the home buying process, then you’ve probably heard about stamp duty. Stamp duty can be a significant home-buying cost to budget – and unfortunately, your home loan does not cover it. How much stamp duty costs varies by location, property value, and buyer.
What is a split home loan and how can it help?
When you compare home loans, there are two types of interest rates you can choose from – fixed rate and variable rate. However, you don’t have to choose just one or the other. Many banks and lenders will let you combine the two in what’s known as a split rate home loan.
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What is interest?
In finance, we deal with interest all the time.
How to buy your first house
Buying your first house can be a long and daunting process, so having a roadmap is helpful. Let’s go through every stage of the home-buying process and lay it out in simple steps, including:
How to ask for a rate cut on your home loan
Some of the most common advice you’ll read at Mozo is to, “Call your mortgage lender.” See if you can negotiate a lower interest rate and avoid mortgage stress.
Unraveling Construction Loans: How Do They Work & What Are They For?
A construction loan is designed for building your own home, as opposed to purchasing a pre-built property. Unlike a standard mortgage, it offers the flexibility to incrementally draw funds throughout the building process, incurring interest only on the amount drawn.
Tips for buying at auction
Buying at auction is a popular home-buying method for many Australians. So what can buyers expect? How can you give your bid the best chance at winning? And how does the auction process impact your home loan?
The pros and cons of paying a 40% deposit on your home loan
Paying at least 20% of the purchase price upfront is standard when taking out a home loan. This portion establishes the loan-to-value ratio (LVR) for the mortgage and the interest rate the borrower is eligible for.
What happens if you overbid at a property auction? Home loans & deposits explained
Overbidding at a property auction can have disastrous financial consequences and make it harder to take out a home loan in future. It's a worst-case scenario for an auction: depending on your situation, it might be far better to lose the auction (and the property) than overbid.
What credit score do I need to get a home loan in Australia?
When you apply for a home loan, one of the many things lenders will examine is your credit score. This is a number between 0 and either 1,000 or 1,200 which reflects how responsible you are with your debts and other financial obligations.
Home loan-to-value ratio vs. home equity: what’s the difference?
Your loan-to-value ratio (LVR) and home equity are vital parts of your mortgage. Home equity can be an untapped source of wealth used for everything from a home loan deposit to funding for renovations, while your LVR tier can set the interest rate on your mortgage repayments.
Capital gains tax: A guide for property investors
Capital Gains Tax was introduced in Australia in 1985 and applies to assets you sell that were bought since that date (though there are some exceptions). Importantly, capital gains tax is part of your income tax and not a standalone tax as the name might suggest.
What happens to your mortgage after a breakup?
The breakdown of a long-term relationship can be difficult enough to begin with, but things are made all the more complicated when you and your partner have a home loan together.
Are 40 year mortgages worth it?
With interest rates at the highest they've been in years, the promise of a 40-year home loan offering lower monthly repayments may look appealing. But there's a catch that you might not have considered, which can actually end up costing you more.
What is Build-to-Rent in Australia
The Australian rental and housing market is notoriously tight, and while supply is often cited as the solution, the type of supply being brought to the market is equally important. One potential solution being discussed is the build-to-rent (BTR) model.
Taking out a first home loan? Here are some tips to save you money
Have you found the house you’d like to own? Your next step is getting a home loan and hopefully in a way that allows you to minimise your costs.
Steps to pay off your mortgage faster
With the high cost of living right now, it might seem like an impossible dream imagining the day when you’ve paid off your mortgage, you have thousands more in your bank account, and you are planning a trip around the world to tick off all those places on your bucket list.
Is spring really the best property season?
Property dreams are made in spring, if the old adage is to be believed. It’s supposedly the best time of the year to sell and buy homes, but depending on your circumstances, that may not be entirely true.
7 cheap and easy ways to increase the value of your property
Whether you’re upgrading or downsizing, there’s no denying the stress that comes with selling and moving house. And if there’s one thing on the mind of sellers, it’s the uncertainty that comes with not knowing how much your home will sell for.
How soon after buying can you put your home for sale?
Buying and selling property can be time-consuming, but there are buyers looking for a quick turnaround. Property flipping has been a great way for investors to make use of capital gains, while some buyers with buyer's remorse merely want to move to greener pastures.
Offset account vs redraw facility: Which one is better?
When shopping for a home loan, the ability to deposit and withdraw funds is highly sought after. So, when looking at features like an offset account and redraw facility, they will probably rank pretty high on your wishlist.
What kind of homebuyer are you? A home loan strategy for all
Not everyone is the same, and not everyone is on the same home-buying journey. That’s okay! There’s a wonderful variety of home loans to suit different needs. If you’re having trouble finding options that suit you, it could help to first discover your ‘type’.
Here’s what could happen if you lie on a home loan application
In most cases, white lies are no big deal. But if it's something serious like a home loan application, a surprising number of people are willing to bend the truth.
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Should I make extra repayments on my home loan?
Despite some relief from the RBA pausing its interest rate rise program, rates are still biting down on everyday borrowers. One way mortgage holders are managing their loan is through extra repayments.
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How a smaller deposit affects your home buying journey
With home prices where they are across Australia, it’s little wonder borrowers are questioning whether they can save for the hefty deposit required.
6 Things to consider before buying a house
So you’ve worked hard to save up for a home loan deposit and you’re probably concerned about the potential pitfalls ahead. It's clear that 2023 could bring some headwinds.
Can I get a home loan without a 20% deposit?
Saving up a deposit is one of the biggest hurdles involved in purchasing a home, and for many Australians, clearing it can seem almost impossible. Below, we explore some of the workarounds for homebuyers who don’t have the 20% deposit that banks like to see.
What is a mortgage prisoner?
A mortgage prisoner is someone who lacks the equity or serviceability requirements to refinance their home loan. Because they aren’t able to jump ship, borrowers can find themselves trapped and drowning in a mortgage they can no longer afford.
Gifted deposits for home loans: How do they work?
Saving up a deposit is one of the largest obstacles to purchasing a home, which is why many parents step in to help their children out. If you’re in a position to do so, gifting a deposit can be just what your child needs to get their home loan application over the line.
Home loan check-in: What happens if I can't afford my mortgage?
As a result of the rising cash rate and the cost of living crisis, some Australians have grown worried about their mortgage repayments.
What to do if the bank won’t lend you as much as you want
So you’ve got your sights set on a home, spoken to a bank, and gotten an idea of how much you can borrow. The only problem is the amount is a bit lower than you’d like. Thankfully, there are a few things you can do to boost your borrowing power.
Buying property solo: What you need to know
When it comes to applying for a home loan, your borrowing power is the foundation of a successful bid. One of the main ways to increase your borrowing power is to demonstrate that your total income (including that of your partner, if you’re buying together) is enough to make repayments.
NSW shared equity scheme for homebuyers: Who is eligible?
In 2022, the NSW government announced a $780.4 million shared equity scheme, which it hopes will help boost home ownership by reducing the upfront and ongoing costs of taking out a home loan.
What's the difference between owner occupier and investment home loans?
Most people looking to buy property will encounter two types of home loans: owner-occupier and investment property loans.
Can you sell a home with a mortgage?
Selling a home can be tricky enough, but what about selling a home with a mortgage on it? While it’s not uncommon for mortgaged homes to be put on the market, if you’ve never done it before you’re bound to have plenty of questions.
What counts as genuine savings when applying for a home loan?
When you’re applying for a home loan, your prospective lender will look at a range of factors in determining your ability to service the loan. One of these is your genuine savings.
MyHome: Tasmania’s shared equity scheme explained
Joining an expanding roster of shared equity schemes popping up around Australia, Tasmania’s MyHome program is designed to help residents enter the property market sooner by reducing the upfront costs they face.
Buying a house with your parents? How it works
You can buy a home with anyone–siblings, parents, extended family, or even friends.
How to prepare for a home loan rate hike
In his latest policy statement, Reserve Bank governor Philip Lowe dropped his usual reference to the Board’s willingness to be “patient” — effectively signalling that the RBA intends to tighten monetary policy in the coming months.
Do banks consider your Bitcoin holdings when you apply for a loan?
Cryptocurrencies like Bitcoin have seen major mainstream interest over the past few years.
Application to settlement: What is the home loan process?
The very thought of applying for a home loan is enough to send shivers down the spines of many Australians looking to enter the property market for the first time. But with a pinch of patience and a healthy dollop of organisation, the affair breaks down into a few neat steps that should serve to demystify the home loan approval process.
5 money tests to pass before getting your first mortgage
You may be emotionally ready to settle down but how do you know you are financially ready to buy your first home? Taking on a mortgage is one of the biggest financial decisions you’ll ever make, so before you take the plunge it’s a good idea to take a moment to learn what are things to know when getting a mortgage.
What is a mortgage rate lock and when is it useful?
Banks can shift their mortgage rates several times throughout the year, either in response to moves by the Reserve Bank of Australia (actual or anticipated), or simply because their cost of doing business has changed.
Can I turn my home loan into an investment loan?
There are plenty of reasons you might want to turn your home into a rental property. But things are made a bit complicated when you’ve still got a mortgage attached to it. So are you required to inform your lender of your plans? And will changing the terms of your loan mean higher monthly repayments? We explore these questions below.
Mortgage broker fees
Mortgage brokerscan offer a valuable service if you’re searching for a home loan. They can streamline the whole process and sometimes even make it cheaper. But because our main aim at Mozo is to save you money, we thought we better dig into the details to clarify exactly what these services could cost you.
Explainer: What is a break cost?
A break cost is a fee a lender charges when you repay your loan early or switch to a different type of loan during a fixed rate period.
Top 4 home loan tools for first home buyers
So, you're about to buy your first home and currently feel like a new parent that's in way over their head? Firstly, congratulations! Buying your first property is an incredible achievement and massive milestone in your life, which you should be super excited about.
How to boost your chances of home loan approval
If you are thinking about buying a home, you are probably wondering how to boost your chances of getting your home loan approved.
Choosing a home loan lender
From the big bank players to the small online only lenders, the mortgage world offers plenty of choice when it comes to selecting a home loan lender.
Line of credit home loans
Have you built up some equity in your home through extra repayments or your property has appreciated in value? Then you could be eligible for a line of credit loan that allows you to draw on a portion of that amount to fund things like an upcoming renovation or new family car.
Sell or buy, which to do first?
When you’re ready to sell up and move into a new home, there are heaps of things to consider, and it pays to have a strategy in place, rather than just diving right in. Generally speaking, the goals for that strategy are to a) get a great price on your old home and b) secure the deed to your brand new dream home. And, with a little luck, you’ll achieve those goals while c) keeping your sanity intact.
Choosing and signing with an agent
Selling your house can be a stressful experience - you worry about getting the right price, about finding a new place, about your Great Aunt Cathy’s ancient crystal dinner set getting smashed to bits in the move.
Buying in an inflated market
When was the last time you looked at how the Australian dollar is fairing on the market? May be on the rise, but according to foreign investors, it’s still pretty low. What does that mean to you and I? Everything. From lower currency exchange when travelling overseas to inflated prices on average items we buy, day to day.
Home loan news
The Mozo news desk delivers the mortgage updates you need with the whitened smile you trust.
The low rate home loan hit-list: December 2025
Competition in the home loan market has been heating up in recent months, especially around fixed rates, and this means it’s a good time to see how much you could save on your mortgage repayments by switching to a better rate.
Compare Big Four home loan interest rates: how do CBA, NAB, ANZ and Westpac stack up?
When people apply for a home loan, they often go with one of Australia’s Big Four banks: ANZ, Commonwealth Bank, NAB or Westpac. These are household names you might naturally consider first, but they don’t typically offer cheap home loans.
Thinking investment property? Don’t overlook these rival lenders taking on the big banks
In most Australian states and territories, the red hot property market continues and this means that if you've got an investment property in your sights, you'll want to keep mortgage costs as low as possible.
Meet the local banks attracting customers from a distance
One of the greatest benefits of the digital banking revolution for Australian consumers and small banking providers alike is that the boundaries that once existed are no longer.