The first step is assessing your financial situation. You'll want to understand your budget, how much you can afford for a down payment (deposit), and how much you can comfortably borrow.

Book an appointment to find out your borrowing power.

Before you start thinking about loan features like fixed or variable rates, interest-only loans, offset accounts and redraw facilities, let's zoom out to loan types. There are many loan types to suit different circumstances. For example: 

• First home buyer loans
• Refinanced loans
• Home loans for professionals (e.g., Doctors and Lawyers)
• Home loans for the self-employed
• Home loans for renovating or construction
• Home loans for investors
• SMSF loans
• Trust loans
• Expat and non-resident home loans
• Home equity loans (borrowing against existing equity in your home)
• Bridging loans (e.g., to bridge the gap between buying a new home and selling your current property)
• Guarantor loans (e.g., loans guaranteed by the equity in your parent's home)
• Low deposit loans
• ... the list goes on!

Book an appointment for expert guidance.

The right loan will depend on many factors including your financial situation and future plans as well as your personal preferences and priorities.

We're experts at navigating the vast range of choices and scenarios out there and crunching the numbers to find your perfect match.

Book an appointment for expert, personalised support.

A mortgage pre-approval is a letter from a lender. It outlines how much they are willing to lend you, based on your financial situation. Applying for pre-approval involves submitting documents like ID, proof of income, credit reports and your employment status.

Getting pre-approved allows you to confidently shop for homes in your price range, and it can give you a competitive edge when making offers.

Traditionally, banks required borrowers to contribute a 20% deposit. However, there are alternatives available with lesser deposit requirements.

There are a number of government incentives and other schemes to encourage first-home buyers. In some cases you may need just 5% of the purchase price as a deposit. In other cases, Stamp Duty may be waived. It is best to speak with an expert to understand your eligibility.

There are also low-deposit home loans which allow you to purchase property with a 5-10% deposit. These typically require you to show evidence of 5% 'genuine savings' and to purchase Lenders' Mortgage Insurance (LMI).

Guarantor Loans allow you to borrow up to 105% of the purchase price (to including purchasing costs such as stamp duty, legal fees and bank fees). A guarantor can be a parent or close family member, offering some of the equity in their property to guarantee your deposit (up to ~25% of the property price).

Getting approved isn't as easy at it once was, with lender considering not just your income and deposit, but also analysing your credit history and bank statements to confirm details like your living expenses, liabilities, and spending habits.  If you're an aspiring first home buyer, here are some steps you can take: 

• Pay your bills, rent, credit cards and taxes on time
• Limit credit enquiries (e.g., avoid multiple applications for credit cards and loans (including services like AfterPay))
• Maintain open communication with lenders and clear any existing defaults
• Reduce credit card balances and limits
• Build up your savings
• Check your credit report for errors -the government's MoneySmart website offers help on reporting errors

Our process is quick and easy, while always ensuring you tap into our expertise and lender relationships to access better rates and make sure you get the right solution for your specific needs.

Start by talking to a Cinch Loans expert, who will listen to your needs and start exploring options with you.

You fill out our online form and get your docs ready.

We figure out your likely borrowing capacity, shop around lenders and discuss your options in more depth with you.

Once you're ready, we apply, and make the application to settlement process a breeze, including helping set up your new loan.

When buying a home, you'll likely incur loan application, valuation, legal, and settlement fees. Our services are paid by whichever lender you choose, so that's one less to worry about 😍.

To understand the total costs for your loan, talk to our experts.

That's simple! Just book an appointment and talk to our experts.