Compare 60+ Home Loan Lenders in 2 Minutes

Most lenders require a minimum 5% deposit, though you'll typically need to pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. First home buyers may qualify for government guarantees allowing as little as 5% deposit without LMI. The more you can save, the better your loan terms—a 20% deposit avoids LMI entirely and often unlocks better interest rates.

Variable rate loans fluctuate with market conditions—your repayments can go up or down as the RBA changes the cash rate. Fixed rate loans lock in your interest rate for 1-5 years, giving you certainty on repayments. Many Australians choose a split loan (part variable, part fixed) to balance certainty with flexibility. Kreddi brokers help you decide based on your risk tolerance and market outlook.

Yes, but it's more challenging. Lenders assess your credit score, income stability, and deposit size. If you have defaults, bankruptcies, or late payments, specialist lenders may still approve you—though rates are typically higher. Kreddi works with bad credit specialists who consider your full situation, not just your credit file. We've helped hundreds of Australians with impaired credit secure home loans.

Pre-approval can take 1-3 business days with the right documentation. Formal approval (after you find a property) typically takes 5-10 business days. The process is faster if you have all documents ready: payslips, tax returns, bank statements, and ID. Kreddi brokers fast-track your application by submitting complete, error-free applications to the right lenders from the start.

Brokers compare 60+ lenders (banks, credit unions, non-banks) to find the best rate and features for your situation. Banks only offer their own products. Kreddi brokers are paid by lenders on successful settlements, so our service is free to you—and we're legally required to act in your best interest. You get expert advice, paperwork help, and access to wholesale rates often better than walking into a bank.