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Purchasing a new home

Have you arrange your pre-approval?

Today's Lowest Interest Rates For Home Buyers

Last updated 6:00am, 30th Sep 2020

Purchasing FAQ

How much do I need for a deposit for a home loan?

When purchasing an owner occupied property lenders will require you have a minimum 5% deposit; for investment properties the despoit most lenders will require is 10% of the property price.

What is a lenders mortgage insurance?

Lenders Mortgage Insurance ('LMI') is an insurance policy which protects the bank against any loss in the event of default by the borrower. Although the insurance policy doesn't protect the borrower, banks will usually pass the cost of the insurance policy on to the borrower.

How much is a mortgage insurance?

Lenders Mortgage Insurance ('LMI') will vary depending on your loan amount and the property value. Use our LMI quote calculator to give your idea what it could cost you.

How can I avoid paying mortgage insurance?

You can avoid the LMI premium by having a 20% deposit and not borrowing more than 80% of your properties value. For first home buyers, using a family guarantee will allow you to avoid mortgage insurance.

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Customer Reviews

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Ammar Khan

Highly recommend Peter from 'Get a Better Rate'. We received friendly, helpful and professional service from 'Get a Better Rate'. We were given a range of options to choose from for our home loan refinance. We were kept up-to-date with status updates throughout the whole process. Overall, very happy with the service that we received.
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Matthew Booth

We refinanced through 'Get a better rate' and were very happy with the whole experience. Peter discussed our needs, presented options and then helped us decide what was best for our situation. He moved through the process at our pace (quickly) which was lucky because we settled just 2 days before the bank raised their rate. I can confidently recommend Peter and Get a Better Rate
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Sam Locke

We had a fantastic experience with Get a Better Rate. Peter was extremely helpful and made sure we were looked after. He answered all our questions clearly. Highly recommended.
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Jack Smith

We had the best experience with this company and couldn’t recommend Peter and Get a better rate more! As first time home buyers Peter walked us through every step and was always very quick to reply to any questions. We got an amazing rate and have already passed on details to our friends. Highly recommend!

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