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Under the Australian Government 5% Deposit Scheme, eligible first home buyers can purchase with as little as 5% deposit, and eligible single parents or legal guardians with as little as 2%, without paying lenders mortgage insurance. Property price caps apply and vary by location. Outside the scheme, most lenders accept 5% or more with LMI, or 20% to avoid it. You'll also need money for stamp duty and purchase costs.

A mortgage broker compares loans from a panel of lenders, recommends options that suit your goals and circumstances, prepares and lodges the application, and manages it through approval and settlement. At RiseMore we compare 50+ banks and lenders, so you can see more choice than a single bank can offer, and we keep checking your loan after settlement.

For most residential home loans, yes. The lender you choose pays us a commission once your loan settles, and that doesn't increase your interest rate. For some commercial, asset or specialist facilities a fee may apply. If it does, we'll tell you in writing before you commit to anything.

It depends on your income, living expenses, existing debts, credit card limits, dependants and each lender's policy, including the 3% serviceability buffer lenders apply. Our borrowing power calculator gives a quick estimate. A broker can then compare how different lenders assess you, which often changes the figure noticeably.

Yes. We help borrowers right across Australia. Appointments run by phone or Google Meet, documents are shared securely online, and we work with lenders that lend in every state and territory. Where state rules differ, such as stamp duty concessions, we'll check the rules that apply to you.

Pre-approval can take from a couple of days to around two weeks, depending on the lender and how complete your documents are. Formal approval after you've signed a contract often takes a few days to two weeks. We prepare your file thoroughly upfront, which is the biggest factor in avoiding delays.

Often, yes. Some lenders specialise in self-employed borrowers, low-doc income verification or past credit issues. We'll look at your full situation honestly, explain what's realistic now, and if needed map out the steps that will put you in a stronger position to apply.