Frequently Asked Questions

1.       How quickly can I get pre-approved?

In as little as a few hours, depending on the lender. Most pre-approvals are issued within 24 to 48 hours once all documents are received.

2.      Do you charge a fee?

No. Our service is completely free. We are paid by the lender after settlement — and we always disclose how that works.

3.      Can you help if I’ve been declined elsewhere?

Yes. We specialise in complex applications and helping clients who have been turned away by banks. We know which lenders are more flexible and how to present your application properly .

4.      Do you work weekends or after hours?

Yes. We are available seven days a week, including evenings and weekends. You can book a meeting directly into our online calendar at any time.

5.      What is a mortgage broker?

A mortgage broker is a licensed expert who compares home loans across multiple lenders to find the best solution for your needs. We manage the entire application process from start to settlement. A mortgage broker helps your homeownership dreams come true.

6. Are you owned by a bank of particpate in paid referral arrangements?

What If We Finance is not owned by a bank and does not pay for referrals. We do not cross sell. We focus purely on mortgages and getting it right. With access to over 50 lenders and more than 2,000 home loan options, we compare the market to find the right solution for your situation.

7. Do you help self-employed borrowers?

Absolutely. We specialise in self-employed loans, and we understand how to work with business income, BAS statements, company structures, and fluctuating earnings.

8. What is the difference between fixed and variable rates?

Fixed rates offer certainty with locked-in repayments. Variable rates offer flexibility, and extra features like offset accounts. We can also blend both options for balance.

9. What is Lenders Mortgage Insurance (LMI)?

LMI is insurance that protects the lender if you default on your loan. It applies when you borrow more than 80% of the property value. We’ll show you how to reduce or avoid it where possible based on the best home loan options .

10.  Can you help with bridging loans?

Yes. We regularly arrange bridging finance for clients who are buying before selling. We’ll help you structure the loan and choose the right lender to minimise risk. Each particular lender has different rules and its important to work with us to get competitive rates .

11.  Do you assist with SMSF lending?

Yes. We can guide you through the entire SMSF loan process — from structure and lender selection to documentation and settlement — in a compliant, efficient manner. We use a variety of lenders and will recommend options based on your financial position .

12.  What happens after my loan is approved?

Once approved, the lender issues your loan documents. We help you review and sign them, then coordinate with your conveyancer or solicitor to arrange settlement. We keep you updated every step of the way.

13.  Do I need a conveyancer or solicitor?

Yes. You’ll need a licensed professional to handle the legal aspects of your property purchase, including contract review and the transfer of title. We’re happy to refer someone trusted if needed. Learn more about what is conveyancing

14.  What should I know before bidding at auction?

There’s no cooling-off period at auction. Once you bid and win, the sale is final. That’s why it’s essential to have your finance pre-approved and your contract reviewed in advance.

15.  Can I still get a loan with a small deposit?

Yes. We help clients buy with as little as a 5% deposit. You may also qualify for government-backed schemes that eliminate Lenders Mortgage Insurance.

16.  Do you help with guarantor loans?

Yes. If a family member is willing to guarantee your loan, we can structure it to maximise borrowing power and reduce or avoid LMI.

17.  Do you provide loan health checks?

Yes. If you already have a loan, we can review it and let you know if a better deal is available. This is part of our free ongoing service and helps with home loan refinancing .

18.  Can I use equity to buy an investment property?

Yes. Many of our investor clients access equity from their home to use as a deposit. We help structure this to maximise tax and borrowing efficiency.

19.  How do I choose the right loan product?

We consider your goals, budget, risk tolerance, and property plans — then present clear, tailored options based on your circumstances.

20.  Is pre-approval guaranteed finance?

No. Pre-approval is an indication only. Full approval is granted once all checks are complete and the property is assessed. We help ensure there are no surprises.

21.  How can I contact What If We Finance?

You can reach us on 03 8804 1354, use our live chat, or book a free 30-minute meeting online. We’re available seven days a week from 8:30 am to 9:30 pm.

22.  Where can I see your reviews?

We have over 260 five-star reviews on Google, Word of Mouth, and Product Review. Just search ‘What If We Finance’ to see what our clients say about us.

23.  Do you help with investment property loans?

Yes. We offer tailored loan solutions for investors looking to grow their property portfolio, maximise borrowing capacity, and structure loans tax-effectively.

24.  Are you an award-winning broker?

Yes. We are proud recipients of multiple industry awards including the 2024 MFAA Customer Service Award for Victoria, and several Melbourne Mortgage Broker elite and service badges.

25.  What if I want to speak to someone today?

Our mortgage brokers are available seven days a week. You can call us on 03 8804 1354 or book an appointment directly into our calendar.

26.  Do you offer no Lenders Mortgage Insurance loans?

Yes. If you qualify, we can secure home loans with no LMI, saving you thousands. We specialise in helping professionals and first-home buyers access finance options.

27.  Can I refinance with What If We Finance?

Absolutely. We review your current mortgage, compare it across 50+ lenders, and help you secure a better rate with reduced repayments and improved features with your refinance .

28.  Do you help first home buyers?

Yes! We specialise in helping first home buyers understand their options, access grants and schemes, and secure low deposit loans with minimal fuss.

29.  Can you help with SMSF property loans?

Yes. We guide clients through SMSF lending from start to finish, ensuring compliance, lender compatibility, and investment strategy alignment across Australia.

30.  What makes you different from a bank?

We are an awrad winning mortgage broker. We work for you, not the bank. Our goal is to secure the best deal for your needs, not sell you a particular product. With acess to over 50 lenders and 2000 products we can secure an unbeatable deal.

31.  How does buying at a private sale differ from an auction?

At a private sale, you can negotiate the price and conditions, and usually have a cooling-off period. At an auction in Australia , bidding is final—there’s no cooling-off period and finance must be ready before the auction.

32.  How does the pre-approval process work?

Pre-approval involves submitting your income, expenses, and credit information to a lender. They assess your ability to repay and confirm your borrowing capacity, giving you conditional approval before you start house hunting.

33.  What is positive gearing in property investment?

Positive gearing is when the rental income from your investment property exceeds your expenses. It generates a profit and may result in a tax liability, improving cash flow.

34.  What is negative gearing in property investment?

Negative gearing is when your property expenses exceed rental income. The shortfall can be claimed as a tax deduction, potentially reducing your overall taxable income.

35.  Should I invest in property?

Property investment can help build long-term wealth, provide rental income, and offer tax advantages. However, it depends on your financial goals, risk tolerance, and timeframe. We can help assess if it’s the right fit for you and can also help with commercial property loans

36.  What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is a one-off fee charged by the lender if you borrow more than 80% of a property’s value. It protects the lender—not you—in case you default on the loan.

37.  Can I avoid paying Lenders Mortgage Insurance (LMI)?

Yes, there are ways to avoid LMI in Australia. These include having a deposit of 20% or more, using a guarantor, or qualifying under certain professional or government-backed LMI waiver programs. We can help assess which option applies to you.

38.  What is principal and interest?

Principal and interest repayments include both the amount borrowed (the principal) and the interest charged. This structure helps reduce your loan balance over time.

39.  What is interest-only?

Interest-only repayments mean you only pay the interest charged on the loan for a set period, without reducing the loan principal. This results in lower repayments initially and is not used for investment loans .

40.  When should I use principal and interest?

Principal and interest is ideal when you want to reduce your debt over time. It’s the most common option for owner-occupiers aiming to pay off their home and these are the most common types of home loans .

41.  When is interest-only a good idea?

Interest-only loans are often used by investors looking to maximise cash flow or during construction periods. They may suit short-term strategies but result in higher long-term costs.

42.  What is a mortgage offset account?

An offset account is a transaction account linked to your loan. The balance reduces the amount of interest you’re charged—so more of your repayment goes to reducing the loan.

43.  What is a redraw facility?

A redraw facility lets you access extra repayments you’ve made on your home loan. It offers flexibility, but access may be limited by lender policy.

44.  Can I switch lenders after getting a home loan?

Yes. This is called refinancing. You may be able to get a better rate, consolidate debt, or access equity. We compare lenders and manage the refinancing process for you.

45.  Do you help with construction loans?

Yes. We guide you through staged payments, approvals, and progress draws. We help structure your finances for builds, renovations, or house and land packages.

46.  Can I use a gift from family as a deposit?

Yes, many lenders accept gifted deposits with a signed statutory declaration. Some may also want to see evidence of genuine savings across Melbourne and Australia. Forget about financial stress or other brokers from now on