Owning a home in Australia is more than just a dream. Despite a competitive market, achieving homeownership is still within reach. Whether you aspire to own a house or amass wealth through a property portfolio, Key Choice Lending is your trusted partner in Melbourne, Malvern, and Coffs Harbour.

Ready to make your dream a reality? Book a Meeting with Us Now.

Our tailored approach helps you:

  • Understand potential hurdles.
  • Recognize available opportunities.
  • Learn about various loan costs.

Our expansive network extends beyond the Big 4 Banks, offering a plethora of home loan options. We simplify the vast choices and align them with your interests.

Not sure about your borrowing limits? Check Your Borrowing Capacity.

Home Loan Essentials

What is a home loan? Also known as a mortgage, a home loan is a loan of money, from a bank or other lending institution, for the specific purpose of buying a house, or refinancing a home. It is a secured type of loan, meaning the house which is being bought is the collateral should the borrower default on their loan. They typically run from 20-30 years, with either a fixed or variable interest rate and can be paid off weekly, fortnightly, or monthly.

Different types of home loans Connect with our team to explore which loan type is most suited for your needs. Here are three of the most common home loans we assist with:

  • First home buyer loan: A host of options awaits first-home buyers. Benefits include the First Home Owners Grant, the First Home Loan Deposit Scheme, and the First Home Super Saver Scheme. In Victoria, eligible first home buyers can avail up to $10,000 for homes under $750,000. Significant reductions on stamp duty are also accessible. Let Key Choice guide you to substantial savings on your initial home purchase.
  • Refinancing home loan: Refinancing allows homeowners to replace their current loan with one that offers better terms. While there are costs associated with closing and opening loans, partnering with Key Choice ensures you make an informed decision.
  • Home construction loans: Designed to cover land purchase, materials, and labor costs for building a home. Given the unique risks associated with constructing a home, these loans might come with specific conditions.

Home Loan Frequently Asked Questions

  • How to apply for a home loan? Start with a consultation with Key Choice Lending. We help ascertain your affordability, break down different repayment rates, and scout the best loans for your needs. Our team simplifies the application process, ensuring every detail is in place.
  • How much deposit do I need for a home loan? Typically, a minimum of 10% deposit is required. However, a 20% deposit eliminates the need for Lenders Mortgage Insurance. For instance, for a $750,000 home, a 20% deposit would be $150,000, exclusive of government stamp duty.
  • How is interest calculated on a home loan? Interest depends on the loan amount, interest rate, and loan term. It’s a percentage of the loan amount that you’re charged for borrowing. For instance, for a $450,000 loan at 4.5% fixed interest over 30 years, the monthly interest added to the principal payment determines your total monthly payment.
  • What is a pre-approval home loan? This entails a lender’s commitment to offer a set loan amount. It streamlines the home buying process, as financing gets pre-arranged.

Flexible Meeting Options

To dive deep into your options and chart out the best course, please book a meeting in the format and time convenient for you. Whether it’s virtual, phone, or in-person at one of our offices, we’re here to assist.


Every financial journey is unique, and yours deserves our tailored approach. Let’s start the conversation.