Frequently asked questions

We are a home loan comparison platform designed to help you calculate your borrowing power and find lenders that could suit your unique financial situation. Our goal is to empower you to make informed decisions. If you need any help or guidance, our mortgage brokers are always on standby to help.

You tell us about your income, expenses, deposit and the property you're buying or refinancing. The home loan comparison tool gives an indication of your borrowing limits with each lender and suggests lenders that could suit you. The more you tell us, the more accurate it is. A Xandii broker confirms your details and helps you choose which lender is best for you.

No. The home loan comparison tool is an indicative comparison, not an application. Once you are ready to proceed to an application, a Xandii broker can help you through the process.

The borrowing estimates are indicative, based on the information you provide. Once a Xandii broker has verified your income, expenses and a few other details, we can give you a more accurate borrowing assessment. Treat the numbers as a guide, not a guarantee or an approval.

No. The home loan comparison tool costs you nothing to use on its own. A Xandii broker is there if you want help comparing options and managing the application.

The home loan comparison tool costs you nothing to use, and we don't charge a fee for the broker's service. If you proceed with a Xandii broker, the lender pays us a commission. Our Credit Guide explains how we are paid.

Our services come at no direct cost to you; the lender pays us an upfront commission for our work. We also receive an ongoing trail commission, which means we're committed to supporting you and answering your questions for the entire life of your loan.

No, using the home loan comparison tool does not affect your credit score. If you would like to check your credit score, we can help.

We use the details you enter to provide an indication of your borrowing limits with each lender and suggest lenders that could suit you. Our Privacy Policy explains what we collect, how we use and store it, and how to access or correct it.

When you are ready, a Xandii broker can talk through your shortlist, confirm your details, and help you with your application. You're always in control, and there's no pressure to move forward if it is not the right fit.

Loan-to-Value Ratio (LVR) is the percentage of the property's value that you borrow. For example, borrowing $800,000 for a $1,000,000 home means an LVR of 80%. Lenders use LVR to assess risk: a lower LVR typically unlocks more options and helps you avoid LMI (lenders mortgage insurance). The home loan comparison tool works out your LVR from the property value and loan amount you enter.

For first home buyers, and people in certain professions, it can be possible to buy with a smaller deposit, sometimes with government help for first home buyers. As a general rule, having a 20% deposit allows you to avoid LMI (lenders mortgage insurance). A bigger deposit can sometimes lead to more competitive interest rates. Outside of your home loan deposit you will also need to budget funds for costs such as stamp duty and legal fees: our stamp duty and purchase costs calculator gives an estimate. If your deposit is under 20%, a guarantor can sometimes help. A Xandii broker can talk through what works for you.

If you buy a property with a small deposit, the bank is taking on more risk because you're borrowing a larger percentage of the property's value. To cover that risk, the bank may require you to pay an LMI (lenders mortgage insurance) premium. The good news is that in most cases, the LMI premium can be added to your loan, so you do not necessarily need to pay it upfront. For example, if you're buying a $700,000 property with a 5% deposit, the bank might charge LMI because you're borrowing 95% of the purchase price. It lets you buy sooner rather than waiting until you save a 20% deposit. The premium varies by lender, loan size and how much you're borrowing, so a broker can give you a figure for your situation.

Lenders determine your borrowing capacity based on your income, expenses and existing liabilities. Each lender assesses these differently and, therefore, your borrowing capacity can change depending on the lender. Our home loan comparison tool lets you compare your borrowing capacity across various lenders.

HEM (the Household Expenditure Measure) is a benchmark for typical household living expenses that lenders use as a base amount. If the expenses you declare are below the benchmark for a household like yours, most lenders assess you on the benchmark instead, which can lower the amount they will lend. It is important to declare realistic expenses. See also how lenders decide what you can borrow.

Lenders assess your current loan repayments and credit limits (for example, credit cards) against your income. Car loans, personal loans, HECS or HELP (the government's student loan schemes) and buy-now-pay-later commitments all factor in too. Reducing or closing debts you do not need can increase your borrowing capacity. The home loan comparison tool takes the debts you enter into account for each lender and shows how they affect the result. See also how lenders decide what you can borrow.

Several government programs can help people buy a first home sooner. The Australian Government 5% Deposit Scheme can let eligible first home buyers purchase with a smaller deposit and without LMI (lenders mortgage insurance), and the First Home Super Saver scheme lets you save toward a deposit inside super. These rules change often and depend on your situation, so the quickest way to know what you qualify for is to chat with a Xandii broker. See also how much deposit you need.

Stamp duty is the state or territory government tax on a property purchase, and each state and territory has different rules that change regularly. There are several stamp duty concessions and exemptions that can help first home buyers. To find what applies where you are buying, use our stamp duty and purchase costs calculator or speak to a Xandii broker.

Yes, you can absolutely get a home loan if you are self-employed. The main difference is simply how lenders assess your financial situation. Instead of standard payslips, they will typically evaluate your income using your tax returns and business financials. While some institutions strictly require at least two years of trading history, others are more flexible. This is where the home loan comparison tool or a Xandii broker can help. They can do the heavy lifting for you by identifying the lenders whose policies align with your employment type. See also how lenders decide what you can borrow.

Saving for a deposit is hard. If you don't have enough deposit to buy your home yet, we can consider using a family member's property as supporting security. This is known as a family guarantor loan. It is important to understand what this means for you as the borrower and what it means for the guarantor, so it is important to speak to a broker. A family guarantor loan can help you get into your home sooner and avoid LMI (lenders mortgage insurance). A Xandii broker can explain how it works and which lenders offer it.

Yes. Refinancing is simply replacing your current home loan with a new one, usually to obtain a lower interest rate, unlock your equity, or switch up your loan features. Our home loan comparison tool is built for both refinancers and new buyers, mapping out your indicative borrowing capacity and policy fit across dozens of lenders. Before you make the leap, it's wise to weigh any upfront switching costs against your long-term savings, which a broker can help you navigate. You can use our pay it down faster calculator to see exactly how making extra repayments could shave years off your debt.

A fixed rate stays the same for a set term, giving you certainty on your repayment amounts, while a variable rate can move up or down over time and usually comes with more flexibility (features like offset and redraw). Fixed rate protects you if interest rates rise, but can charge break costs if you exit early, while variable rate lets you benefit if rates fall, but provides less certainty. The home loan comparison tool's indicative figures are based on variable rates for now; a broker can talk through fixed options and what suits your plans.

Both can reduce the interest you pay, but they work differently. An offset account is a transaction account linked to your loan: its balance is offset against your loan balance when interest is worked out, and the money stays accessible day to day. Redraw lets you pull back extra repayments you have already made above your minimum. Offset tends to be more flexible for everyday cash flow; redraw is often simpler and may have fewer fees. What suits you depends on how you manage money, and a broker can match you to lenders offering the feature you want. See also fixed vs variable.

Pre-approval (sometimes called conditional approval) is a lender's indication of how much they may lend you, subject to conditions, before you have found a property. It can help you shop with confidence and move quickly, but it is not a full, unconditional approval and does not guarantee the final loan. Pre-approval is different from the home loan comparison tool: the comparison tool gives indicative estimates with no credit check and is not an application, whereas a lender pre-approval is a formal step a broker arranges with your consent.