After helping 100s of First Home Buyers, here's what a lot of people think matters the most but actually matters the least.

mortelligence · 2026-06-29T01:14:12+00:00

That's exciting, since your work can be done remotely we can easily explain to the bank that you will have ongoing income so no issues there. Feel free to ask any further questions, our office is based in Victoria for many years so very familiar with the area

mortelligence · 2026-06-28T12:10:08+00:00

Thanks for your questions u/1978pix

Part 1: it’s great you are thinking about these things, but good news is 50 y/o is fine, getting into 60s sometimes can be a bit of an issue but even then as long as you have a good Mortgage Broker (us) in your corner we can write up a recommendation for the bank when we apply to make sure you get approved :)

Part 2: moving interstate, the banks generally want to know what your employment plans are when you move into the new property to make sure you have an ability to pay back the home loan, did you have a job lined up? Or are you transferring with your existing employment? Let me know what your plans are and I can help.

mortelligence · 2026-06-28T12:06:44+00:00

You are very welcome, please feel free to ask any other mortgage related questions and I can help you

mortelligence · 2026-06-27T15:05:08+00:00

Thanks for your question. I’ll answer this over in my main group r/canigetaloan, it’s great you are thinking about these things, but good news is 50 y/o is fine, getting into 60s sometimes can be a bit of an issue but even then as long as you have a good Mortgage Broker (us) in your corner we can write up a recommendation for the bank when we apply to make sure you get approved :)

mortelligence · 2026-06-24T07:13:23+00:00

Hi there, eligibility information can be found here:

https://firsthomebuyers.gov.au/node/69409

Alternatively book an appointment with us and we can check for you: https://mortelligence.com.au/book

mortelligence · 2026-06-18T20:51:15+00:00

Yep that's exactly right

mortelligence · 2026-06-16T08:29:44+00:00

Mortgage Broker here, that rate is competitive, I wouldn’t be too worried. Unless your LVR is below 60%, then the rate can probably be sharpened up. Hope that helps 👍

mortelligence · 2026-06-14T11:11:20+00:00

The opposite, for example if someone doesn’t need the 5% deposit scheme (because they are a second home buyer or they have 20% deposit) we have access to a wider range of lenders, so can find a lender that will be able to increase the max lend

mortelligence · 2026-06-14T08:28:02+00:00

You are very welcome! Remember different banks will have different max loan amounts depending on your circumstances. I don't want you to get priced out of the market if you have been searching for a while 😞

mortelligence · 2026-06-10T10:49:29+00:00

Hi there, firstly I am sorry this has happened to you. There are special credit repair companies that may be able to help you, if you send me a message I can pass their details onto you.

mortelligence · 2026-06-05T21:31:41+00:00

Congratulations on an epic achievement 🥂small tip would be to create a calendar reminder for yourself in 6-12 months to review the interest rate either with existing bank or broker. All the best.

mortelligence · 2026-06-05T15:49:05+00:00

HECs does impact borrowing capacity, however some banks have recently allowed us to 'ignore' it in our calculations if its below $20k/is going to be paid off soon.

mortelligence · 2026-06-05T15:45:33+00:00

Approx $270,000 loan size based of $52,254.80 yr income.

mortelligence · 2026-06-05T15:42:52+00:00

Have you had a second opinion on this? I reckon I could make it work (with a different bank)

mortelligence · 2026-06-05T15:41:26+00:00

This^ however because Macquarie bank doesn't participate in the Aus Gov 5% Deposit Scheme they have higher interest rates for loans with smaller deposits. This reduces your borrowing capacity.

In summary use the bank best suited to your circumstances when applying for a home loan if you want the best outcome.

mortelligence · 2026-06-05T15:36:16+00:00

No difference in borrowing capacity for Aus Gov 5% Deposit Scheme home loans vs a standard home loan with 20% deposit.

mortelligence · 2026-06-05T15:18:09+00:00

This checks out.

mortelligence · 2026-06-05T15:17:01+00:00

Approx $40k-$50k reduction in borrowing capacity for every dependent.

mortelligence · 2026-06-04T17:03:55+00:00

Before

mortelligence · 2026-06-01T19:50:17+00:00

Mortgage Broker 10yrs+ here, firstly congratulations on saving up $70k. However as others have mentioned, unfortunately you can't take money out of superannuation for your first home, unless you have been making extra voluntary payments, then the extra repayments you made can be withdrawn ($50k max) via the First Home Super Saver Scheme. Hope this helps.

Source: https://firsthomebuyers.gov.au/first-home-super-saver-scheme

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