Obtaining A Home Loan FAQs:
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How much can I borrow?
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How much you can borrow will depend on a number of factors such as how much deposit you have, what your earnings are and your outgoings. Use our handy calculator to work out how much you borrow.
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What is the minimum legal age to buy your first home?
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You have to be at least 18 years old to obtain a home loan or apply for the First Home Owner Grant.
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How long do I need to have been working for before I can get a home loan?
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Different lenders requirements may vary, but typically you need to have been employed for a minimum of 6 months before you can obtain a home loan.
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A few years ago, I obtained a bad credit rating because of some unpaid debts. However, I have now paid back the debts and saved enough for a deposit. Will I be able to get a loan?
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When deciding how much you can borrow, a home loan lender will typically look at a number of factors such as how much deposit you have, what your earnings are and if you have any current, or past, bad debts and their value.
In principle, you will still be able to get a home loan, but it will depend on the factors above, and the lender you speak to (lenders often have slightly different rules).
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