You can compare mortgage brokers in the table below and click "more info" to learn more about a particular company. If there's no green button on a broker, it means we don't currently have a partnership with this broker. You can contact them directly on their own site.
Leave your details with any of the providers on this page and one of their mortgage brokers will call you. They will talk you through suitable mortgage options for your situation and help you with your home loan application and paperwork too.
How to find the best mortgage broker
Mortgage brokers are like any other business or service: there are good ones, excellent ones and bad ones. Luckily, it isn't too hard to find a good one in a few steps:
Check the broker's accreditation and qualifications. Your mortgage broker should be a qualified professional. You'll also want to ensure your broker is registered with the Australian Securities and Investment Commission (ASIC) either as a licence holder or a credit representative. You can check ASIC's register here. Mortgage brokers are also required to be a member of an industry association, either the Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). At a minimum, every mortgage broker needs to hold at least a Certificate IV in Finance and Broking, if not a diploma.
Read reviews online. Read online reviews from previous customers. This is a good way to get a sense of a broker's history and service.
Ask for recommendations. Ask around and see if anyone you know has had some experience with a good mortgage broker.
Do your own home loan research. Mortgage brokers may have access to hundreds of different loan products, but it doesn't hurt to spend a little time researching your options on your own as well.
Approach more than one broker. Shop around and talk to a few brokers before deciding which one you want to go with.
Go with your gut. If a broker is pushy, not responsive or doesn't take the time to explain things to you, go with your gut feeling. Look elsewhere to find a better broker.
How can a mortgage broker help?
With a little research, it's actually pretty simple to find a good home loan yourself. But if you are a bit confused or have a complicated lending situation, then you can talk to a mortgage broker.
Mortgage brokers in Australia are licensed professionals who can do a home loan comparison for you. They'll talk to you about your needs and help you find a suitable loan. Brokers can't compare the whole market, but they have access to a panel of lenders.
Many Australian borrowers, especially first home buyers, turn to a mortgage broker to help them get a loan for their first home.
Did you know?
69.6% of new home loans involve a mortgage broker*
*According to recent figures from the MFAA, 69.6% of all owner-occupier home loans between January and March 2023 were facilitated by a mortgage broker.
How much does it cost to use a mortgage broker?
A broker's service is usually free because they receive a commission from the lender you choose. This means that brokers don't get paid unless your loan gets approved, which gives them a very big incentive to help you gain home loan approval.
There are 2 types of broker commission:
Upfront commission. An upfront commission is the commission a mortgage broker receives for introducing the home loan customer to the lender. It is normally around 0.3-0.5% of the loan value. For example, for an $850,000 mortgage, a 0.3% commission would amount to approximately $2,550 in the broker's pocket.
Trail commission. This is a recurring commission that is calculated based on the remaining loan amount each year, which is paid to them monthly. Some lenders offer an ongoing commission of 0.1-0.2% based on the remaining value of the home loan. This commission is paid for the broker providing ongoing service to the client.
Brokers may charge you a fee if they're providing more services, such as financial planning. Check with a broker before you employ their services to get a clearer idea of potential costs.
What kind of borrowers benefit from using a broker?
While you can go it alone, some borrowers are probably better off going straight to a broker. This includes the following:
Borrowers with a poor credit history. Brokers are useful for borrowers with a poor credit history or discharged bankruptcies. They can help you apply for regular home loans that you may qualify for or specific bad credit products.
Borrowers on Centrelink or pensions. It's often possible to qualify for a loan while receiving welfare payments (and using some of the payment to count as income), but a broker can help you with eligibility requirements for relevant lenders.
Older borrowers. Middle-aged borrowers can have difficulty getting approved for a home loan because they're older and have fewer working years to pay a loan back. Brokers have a good sense of which lenders may accept your application.
Borrowers with complicated situations. If you're looking to set up a complex property investment strategy or have multiple loans, then a broker is a really good idea. A broker can help you structure your loans in a more advantageous and cost-effective way.
How a mortgage broker got the loan approved after banks said no
Graeme Holm, mortgage broker and founder of The Infinity Group, explains how he helped a self-employed couple working in hospitality to secure a loan during the pandemic.
"I had a couple aged in their early 30s who were seeking to purchase an owner-occupier property in Hinchinbrook, Sydney for $810,000. This was during the period where COVID-19 was creating a lot of uncertainty in the market with lenders, especially for self-employed applicants.
"The applicants were initially declined, despite having a healthy deposit of $260,000.
"Conventional lenders had advised that they could not support the clients with this purchase due to their self-employed status and because the industry they were operating in was considered an 'at risk industry': they own and operate two cafes.
"We had approached a non-conforming lender who had also initially declined the deal for the same reason. But because of the strong argument I made, and my experience in the industry, they eventually agreed to take another look at the deal. They then formally approved the application for the client's home purchase. The clients were ecstatic with the outcome and were able to buy their dream home."
Finder survey: How many Australians have used or would use a mortgage broker?
Response
Yes
69.42%
No
30.58%
Source: Finder survey by Pure Profile of 1112 Australians, December 2023
Are there any downsides to using mortgage brokers?
Mortgage brokers do a lot of the legwork for you and may not charge you a cent. What can be wrong with that? Nothing at all. But there are some reasons why you might be better off just finding your own loan.
A broker won't compare all loans. Mortgage brokers only compare lenders in their panel. That's usually a list of between 20 and 30 lenders, including the Big Four. While this gives you plenty of options, it means you will likely miss out on the very lowest home loan rates from small online-only lenders that don't feature in broker panels.
A mortgage broker is a middleman. A mortgage broker will liaise between you and the lender during the entire application process. You might not even deal with your lender until settlement or after. This makes it hard to get a sense of what your lender is like and you'll rely on your broker to answer your questions, at least initially.
Not all brokers are equally good. As with any profession, some brokers are better than others. Some mortgage brokers run very small businesses and may be busy, or you may be dealing with an inexperienced broker who isn't sure how best to help you.
Questions to ask a broker
When talking to a mortgage broker, you should ask a few questions about the loans they're suggesting for you and their service overall.
Questions you should ask include the following:
Do you charge a fee? While most mortgage brokers don't charge their clients, some do, so you should pose the question to the broker at the start so you're clear about all the costs involved.
How many lenders do you have in your network? You want to ensure that the broker has a diverse range of lenders in their panel, including banks and non-bank institutions. Most brokers have access to at least 20 lenders, if not 30.
How much commission do you make? To understand the mortgage broker's motivation, you should ask how their commission structure works. This may help you determine whether there is a conflict of interest at play.
How much of a deposit do I need? Ask how much of a deposit the lender wants, and find out whether the size of the deposit affects the interest rate of the loan. Sometimes a lender will give you a better rate of interest if you put down a larger deposit. A smaller deposit may also mean that you have to pay lenders mortgage insurance (LMI). Your broker should lay this all out for you in easy-to-understand language.
Can I make extra repayments and/or repay my loan early? The quickest way to repay your mortgage and save money in interest is to make overpayments whenever possible. Double-check that your lender is happy for you to do this without penalty. Some lenders charge an admin fee to process the additional payment.
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To make sure you get accurate and helpful information, this guide has been edited by David Gregory as part of our fact-checking process.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 557 Finder guides across topics including:
ChoiceLend offers its loans through Choice Aggregation Services. It has a range of loans including variable, fixed and split rates, as well as equity loans.
I would like to find a financial advisor in my area Melbourne post code 3162
NikkiApril 19, 2018
Hi Lea,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
To speak to a mortgage broker in your area, scroll down to the page to find “I’m ready to find a mortgage broker” and on the Australian map click the city where you live. That will direct you to the mortgage brokers in your area. Choose the company/provider that you piques your interest most and click ENQUIRE NOW.
Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this helps! Feel free to message us anytime should you have further questions.
Cheers,
Nikki
AngelaMay 27, 2017
I would like to get a new home loan in sydney australia for investment.currently i had already a unit in melbourne. any other enquiry please your contact number/email.
thank you
Finder
DeeMay 29, 2017Finder
Hi Angela,
Thanks for your question.
If you want to get in touch with a mortgage broker in your area, kindly click the “Enquire now” button above.
Cheers,
Anndy
MohammadOctober 27, 2016
Which banks provide halal home loan?
In some country HSBC and citi bank has halal loan. Do they have halal home loan in Australia?
JodieOctober 27, 2016
Hi Mohammad,
Thank you for contacting Finder.
There are lenders that will offer sharia-compliant home loans but these are specific specialist lenders, which we outline on our page regarding Islamic home loans.
Regards,
Jodie
SandyOctober 21, 2016
Does A broker have to tell you if they plan to sell your loan in the future.
Can they do so without giving you a chance to refinance with a company(bank) of our own choice.
Finder
JenniferOctober 24, 2016Finder
Hi Sandy,
Thank you for contacting finder.com.au we are a financial comparison website and general information service and therefore can only offer general advice and information.
A mortgage broker does not actually hold your loan once the loan documents have been signed the loan is held by the lender. Broker may sell their client book onto another broker however this only affects any residual commission that may be being earnt by the broker on the loan they assisted you in getting but won’t affect your actual loan.
If you have any concerns please speak to your broker or lender direct or seek the advice of a financial advisor.
Regards,
Jennifer
EmilyAugust 6, 2016
Hi, I’m planning to buy my first house that worth $520,000. I’m able to pay 20% deposit. I don’t have any debt or credit card debt. However, I’m earning $37,000 p.a. permanent part time. how do I take out the 80% of the home loan. Thanks
Finder
MayAugust 8, 2016Finder
Hi Emily,
Thank you for your inquiry.
Generally, your approval for an 80% Loan-to-Value Ratio (LVR) would entirely depend on the assessment of the lender of the financial factors concerning your ability to repay, income, assets, debts, and credit rating. Your capacity of paying 20% of the property’s value may be a good indicator that the lender may approve you for a loan, but please keep in mind that all other factors will be accounted for.
If you want to get information on how to calculate your Loan-to-Value Ratio and your high LVR home loan options, please feel free to visit our LVR guide. For any professional advice concerning your other home loan options, speaking to a mortgage broker (above) would greatly help.
I hope this has helped.
Cheers,
May
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I would like to find a financial advisor in my area Melbourne post code 3162
Hi Lea,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
To speak to a mortgage broker in your area, scroll down to the page to find “I’m ready to find a mortgage broker” and on the Australian map click the city where you live. That will direct you to the mortgage brokers in your area. Choose the company/provider that you piques your interest most and click ENQUIRE NOW.
Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this helps! Feel free to message us anytime should you have further questions.
Cheers,
Nikki
I would like to get a new home loan in sydney australia for investment.currently i had already a unit in melbourne. any other enquiry please your contact number/email.
thank you
Hi Angela,
Thanks for your question.
If you want to get in touch with a mortgage broker in your area, kindly click the “Enquire now” button above.
Cheers,
Anndy
Which banks provide halal home loan?
In some country HSBC and citi bank has halal loan. Do they have halal home loan in Australia?
Hi Mohammad,
Thank you for contacting Finder.
There are lenders that will offer sharia-compliant home loans but these are specific specialist lenders, which we outline on our page regarding Islamic home loans.
Regards,
Jodie
Does A broker have to tell you if they plan to sell your loan in the future.
Can they do so without giving you a chance to refinance with a company(bank) of our own choice.
Hi Sandy,
Thank you for contacting finder.com.au we are a financial comparison website and general information service and therefore can only offer general advice and information.
A mortgage broker does not actually hold your loan once the loan documents have been signed the loan is held by the lender. Broker may sell their client book onto another broker however this only affects any residual commission that may be being earnt by the broker on the loan they assisted you in getting but won’t affect your actual loan.
If you have any concerns please speak to your broker or lender direct or seek the advice of a financial advisor.
Regards,
Jennifer
Hi, I’m planning to buy my first house that worth $520,000. I’m able to pay 20% deposit. I don’t have any debt or credit card debt. However, I’m earning $37,000 p.a. permanent part time. how do I take out the 80% of the home loan. Thanks
Hi Emily,
Thank you for your inquiry.
Generally, your approval for an 80% Loan-to-Value Ratio (LVR) would entirely depend on the assessment of the lender of the financial factors concerning your ability to repay, income, assets, debts, and credit rating. Your capacity of paying 20% of the property’s value may be a good indicator that the lender may approve you for a loan, but please keep in mind that all other factors will be accounted for.
If you want to get information on how to calculate your Loan-to-Value Ratio and your high LVR home loan options, please feel free to visit our LVR guide. For any professional advice concerning your other home loan options, speaking to a mortgage broker (above) would greatly help.
I hope this has helped.
Cheers,
May