Frequently Asked Questions.
Here are some common questions about Smart Select Home Loan.
How much can I borrow?
Your borrowing capacity is determined by the income you receive from your employer or business and the financial commitments you have. Check out our borrowing capacity calculator to get an estimate of your maximum borrowing capacity.
What sort of documents are required to get a home loan?
The lender needs a range of documents to determine your eligibility to get a home loan, to verify your income and expenses, and type of security being used to ensure it is acceptable to the lender.
How much deposit do I need to get a home loan?
If you could contribute 20% deposit you don’t get to pay the LMI (lenders mortgage insurance) If you don’t have 20% deposit, you may get charged the LMI. Please contact smart select home loan expert to find out about our low deposit loan options.
What percentage of property can I borrow?
If you are eligible, you may be able to borrow up to 98% inclusive of the LMI or 99.99% of the value of the property including LMI, however, the higher you go on the percentage, the more you pay for the LMI especially once you go above 90%.
Smart Select Home Loans
We help Australians get the best mortgage deal to become mortgage free sooner!