THE FREMANTLE MORTGAGE BROKER
THAT'S GOT YOUR BACK

Yes, Loan Monster and most mortgage brokers in Perth are free to use. So you don’t have to worry about any upfront costs or hidden fees!

Your borrowing power depends on a mix of things, your income, savings, debts, and the type of property you’re looking at. Lenders all have their own formulas, so the amount can vary quite a bit. Some properties (like units, small acreage or homes in bushfire-risk zones) can also affect how much a lender is willing to offer. We’ll sit down with you to run through your full picture and show what each lender would actually offer, not just a ballpark calculator number. That way, you’ll know exactly what your options are before you start house-hunting.

Your credit score gives lenders a snapshot of how reliably you’ve handled credit in the past. A higher score generally means more borrowing power and access to sharper interest rates. If your score isn’t quite where you want it, we can help you understand what’s holding it back and how to tidy it up, things like lowering credit card limits, paying bills on time, and avoiding too many loan applications at once.

A pre-approval (also called conditional approval or approval-in-principle) is basically a green light from a lender that says, “We’re happy with your situation so far, go find a property.” It’s not a full approval yet because the property itself still needs to be assessed, but it gives you confidence to make offers knowing what your budget really is. Most pre-approvals last around 90 days, and we’ll help you renew it if needed.

For most lenders, pre-approval stays valid for about 90 days, though it can vary. We’ll help you refresh or renew it if your details change or if the lender updates its policy, so you can keep house-hunting without missing a beat.

If you’re going for a fixed-rate home loan, you can usually choose to lock in the rate that’s on offer at the time you apply. That way, if interest rates go up before your settlement, you’re still guaranteed the lower rate. Each lender handles rate lock differently, some offer it free, others charge a small fee. We’ll show you when it’s worth it and whether it’s the right move for your situation.

Most people need to save around 20% of a property’s price for a deposit. If you don’t have that much saved, you usually need Lenders Mortgage Insurance (LMI) to cover the lender’s risk.

Aside from your deposit, you’ll need to budget for a few extras like:

• Transfer duty (stamp duty) charged by the WA Government, we’ll help calculate it for you
• Lender and government fees, like title registration or discharge fees
• Conveyancing or solicitor costs
• Building and pest inspections
• Council and water rates adjustments at settlement
• (Optional) Insurance, such as building or mortgage protection, depending on your lender

We’ll run you through a full breakdown before you apply so there are no surprises.

Stamp Duty is a government tax on property purchases. The amount depends on the price of your property and whether you’re eligible for any first-home buyer discounts or concessions. Your settlement agent usually handles the payment as part of settlement, so you don’t have to deal with the paperwork yourself. We’ll also check if you qualify for WA’s First Home Owner Rate (FHOR) of duty, and explain the latest thresholds and rules.

In WA, first-home buyers don’t have to pay stamp duty if the property they’re purchasing is valued under $500,000.

Once your loan is fully approved and your offer accepted, we’ll guide you right through to settlement. The lender coordinates with your settlement agent to finalise all the documents and transfer the funds on the big day. You’ll just need to make sure your contribution, deposit balance and any costs, is ready to go, and then it’s key-collecting time!