Loans
Four loan types, one honest plan.
First home, refinancing, investment or self-employed. Each one works differently, and each one deserves the math shown in full. Here is how we handle all four.
Jump to yours
First home
The deposit is the part everyone whispers about. Here it is in plain numbers: on a $500,000* home, five percent is $25,000*. Possible, but stamp duty and costs still need covering, and a deposit under twenty percent usually adds lenders mortgage insurance on top.
A guarantor can change that math, and we walk families through it carefully, including the risks for mum and dad. There is also a government guarantee scheme that lets some first buyers in with five percent and no insurance. It is capped and competitive, so we treat it as a bonus, never the plan.
| 5% deposit | $25,000* |
|---|---|
| 10% deposit | $50,000* |
| Stamp duty and costs (allow) | $20,000* |
| LMI if under 20% deposit (rough) | $15,000* |
* Illustrative demo figures and scheme references, not a quote or an offer of credit. Eligibility rules change and we check them fresh for every buyer.
Refinancing
Your bank is counting on your loyalty. Not rewarding it, counting on it. Most people never ask for a better rate, and the quiet gap between what you pay and what a new customer pays is where banks make easy money.
A review costs you an hour and nothing else. We compare your current loan against 28 lenders*, count the break costs and fees honestly, and only recommend a move if the saving is real after everything.
| What many existing customers pay | 6.49%* |
|---|---|
| What the panel is offering from | 5.89%* |
| Monthly saving if you switched | $212* |
* Illustrative demo figures on a 30-year principal and interest loan. Break costs and fees are counted before we recommend any move.
Investment
| Weekly rent at about 4%* yield | $520* |
|---|---|
| Weekly repayment at 5.89%* | $656* |
| Weekly gap you cover | $136* |
A rental can build wealth, but the rent almost never covers the whole repayment at the start. We show you the real weekly gap before you fall in love with a property, not after you have signed for it.
The honest part: property can sit empty, rates can rise, and prices can fall. If the numbers only work when everything goes right, we will tell you to keep looking. A yield around four percent* sounds fine until you see it next to the actual repayment.
* Illustrative demo week on a $480,000* loan at 5.89%*, principal and interest over 30 years. Rent is never guaranteed and we plan for the gap.
Self-employed
The two-years-of-books rule is real, and it trips up good businesses. Most lenders want two years of tax returns and financials, then they average them. A great last year helps less than you would hope; a rough year hurts more than it should.
What counts as income depends on the lender. Some add back depreciation and one-off expenses. Some read BAS and bank statements instead of tax returns. Matching your books to the right lender is the whole game, and it is the part we do for a living.
| Year one taxable income | $86,000* |
|---|---|
| Year two taxable income | $104,000* |
| What most lenders count | $95,000* |
* Illustrative demo figures. Every lender averages and adds back differently, which is exactly why the lender shortlist matters.
Not sure which one sounds like you? That is a normal place to start.
Common questions
Asked at the kitchen table
How much deposit do I really need?
Five percent of the price can be enough with some lenders, plus enough extra for stamp duty and costs. Under twenty percent usually means lenders mortgage insurance, which protects the bank, not you. We will show you the exact number for your price range before you go shopping.
Will applying hurt my credit score?
A chat with us touches nothing. We only lodge an application when you are ready and the lender is right, because every formal application leaves a mark. Shotgunning applications is the fast way to look risky, and we never do it.
I have one year of books. Am I locked out?
Not always. A small group of lenders will read one year of financials, or BAS and bank statements, for the right business. The options are narrower and the rates can be higher, so we weigh whether waiting for year two is the smarter move.
Ready when you are
Bring your numbers. Leave with a plan.
A free 30-minute chat, at the kitchen table or on video. You will know exactly where you stand and what each option costs.
A mortgage broker for first-home buyers. Plain answers, careful math, and one person who knows your name.
Latchford Home Loans is a fictional demonstration business. All rates, figures and reviews are illustrative demo content, not financial advice or an offer of credit. Credit Licence 000000.
© Latchford Home Loans