No question is too small (or too silly) because we understand finance can get a bit tricky. So, we’re here to simplify finance in a way that does not overwhelm you
We compare loans across multiple lenders, explain your options in plain English, and manage the paperwork from pre-approval to settlement.
In most cases Mortgage brokers are paid a commission by the lender after settlement. If a fee ever applies, they’ll disclose it upfront.
We work with a broad panel of major banks and specialist lenders. Get in touch and we’ll confirm whether your bank is included. If so, we’ll compare its options alongside others.
Pre-approval can take 1–5 business days (lender-dependent). Full approval generally follows once valuation and documents are verified.
Photo ID, recent payslips, bank statements, details of savings/debts, and your contract if you’ve found a property. Self-employed: add tax returns/BAS.
Yes and this is one of the most powerful combinations available to Perth first home buyers. The First Home Guarantee allows you to buy with a 5% deposit and no LMI, while the $10,000 FHOG can cover your purchase costs. Both can be used together as long as you’re purchasing a new home that meets both sets of eligibility criteria.
No. The FHOG in Western Australia only applies to new homes — either a newly built property being purchased for the first time, or a home you are contracting to build such as a house and land package. If you’re buying an established home you will not qualify for the $10,000 grant, but you may still be eligible for stamp duty concessions.
If you apply through your mortgage broker or lender, the $10,000 grant is typically paid directly at settlement for purchases, or at the first progress payment stage for construction loans. If applying directly through RevenuWA, processing times vary but are generally within a few weeks of a complete application.
No. If your co-applicant or spouse has previously owned residential property anywhere in Australia even interstate or years ago – your joint application will be disqualified. All applicants must be first home buyers. If only one of you has owned property before, you may need to apply as a sole applicant, which affects your borrowing capacity.
No. The FHOG is a government grant and is not considered taxable income. You do not need to declare it on your tax return.
You risk having to repay the grant. The FHOG requires you to occupy the property as your principal place of residence within 12 months of settlement or construction completion, and live there for at least 6 continuous months. If you fail to meet this requirement, RevenuWA can require repayment of the full $10,000.
Yes but only after you have lived in the home for the required 6 continuous months as your principal place of residence. Renting it out before completing the occupancy requirement may trigger a repayment demand from RevenuWA.
Yes. Most lenders in Australia will accept a minimum 5% deposit. However if your deposit is less than 20% you will likely need to pay Lenders Mortgage Insurance (LMI). First home buyers may be able to avoid LMI entirely through the federal government’s First Home Guarantee scheme, which allows eligible buyers to purchase with just 5% deposit and no LMI.
No. The $10,000 First Home Owner Grant in WA is paid at settlement — not upfront — so most lenders will not accept it as part of your genuine savings deposit. You still need to have at least 5% saved independently. However the grant can be used to cover other purchase costs like conveyancing fees and moving expenses.
Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender if you default on your loan. It is triggered when your deposit is less than 20% of the purchase price. In Perth, LMI costs typically range from $5,000 to $30,000+ depending on your loan size and deposit amount. It can usually be added onto your home loan rather than paid upfront.
It depends on your income, expenses and savings rate. On a median Perth property price of around $750,000, a 5% deposit is $37,500 and a 20% deposit is $150,000. Most first home buyers saving aggressively can reach a 5% deposit within 1–3 years. A mortgage broker can help you work out the fastest path to your deposit goal including government schemes that reduce how much you need to save.
The fastest path for most Perth first home buyers is combining the First Home Guarantee (5% deposit, no LMI) with the $10,000 First Home Owner Grant on a new build. This minimises how much you need saved while maximising government assistance. Talk to a Perth mortgage broker to confirm your eligibility for both schemes before you start house hunting.
Yes. Most lenders require you to demonstrate genuine savings — money you have saved yourself over at least 3 months. Gifts from parents, the FHOG, and lump sum windfalls typically don’t count as genuine savings on their own, though some lenders have more flexible policies. A mortgage broker can match you with a lender whose genuine savings policy suits your situation.
It’s difficult but not impossible. If you were previously employed in the same industry, some lenders will consider your combined income history. Low doc and alt doc lenders may also consider applications with less than 12 months of self-employment under certain conditions. Speak to a mortgage broker before assuming you can’t qualify.
Not necessarily. Self-employed borrowers who can provide full documentation (2 years of tax returns and financials) typically access the same interest rates as PAYG borrowers. Low doc loans do carry slightly higher rates but the gap has narrowed significantly in recent years.
Yes. Sole traders are eligible for home loans in Perth. You’ll need to provide your personal tax returns showing your business income, along with BAS statements and bank statements. Your assessable income is based on your net profit after expenses.
For full doc loans, the minimum deposit is typically 5-10% (though LMI applies under 20%). For low doc loans, most lenders require a minimum 20% deposit to avoid LMI. Some specialist lenders may consider lower deposits on a case-by-case basis.
Having an ABN doesn’t automatically make you self-employed in a lender’s eyes — it depends on how you earn your income. If you’re a contractor earning the majority of your income from one employer, some lenders may treat you as PAYG. A broker can help you determine how your income will be classified.
Some alt doc lenders will accept 6-12 months of business bank statements as primary income evidence. This can be useful if your tax returns understate your actual cash flow. Interest rates and deposit requirements may be higher on these products.
Not quite. The property must meet the ATO’s sole purpose test – meaning it must be held purely for the retirement benefit of fund members. Residential properties cannot be purchased from or rented to related parties. Commercial properties have more flexibility. For example, a business owner can purchase their business premises through their SMSF and pay market rent to the fund.
Most lenders require a minimum of $200,000 in super assets before they’ll consider an SMSF loan application. This ensures the fund has enough liquidity to cover loan repayments, property expenses, and maintain diversification.
No. Residential properties owned by an SMSF cannot be occupied by fund members or their related parties at any time – not even temporarily. Doing so breaches superannuation law and can result in significant penalties from the ATO.
SMSF loan interest rates are typically 0.5-1.5% higher than standard investment loan rates due to the additional complexity and regulatory requirements. Rates vary significantly between lenders a mortgage broker can compare current SMSF loan rates across our panel to find the most competitive option for your fund.
Yes and this is important. While Mogul Capital & Finance handles the lending side of your SMSF property purchase, you’ll also need a licensed financial adviser to advise on whether property is an appropriate investment for your SMSF, and a solicitor or accountant familiar with SMSF structures. We can refer you to trusted professionals in Perth.
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