Home Loan Questions Answered

A mortgage broker compares home loans from multiple lenders to find the right fit for your situation. Instead of going to one bank and taking whatever they offer, a broker does the shopping for you.

At Jain Home Loans, we:

• Assess your financial situation and borrowing capacity
• Compare loans from over 30 lenders to find competitive rates and features
• Handle the paperwork and application process for you
• Negotiate with lenders on your behalf
• Support you from pre-approval right through to settlement

In most cases, you pay nothing. The lender pays us a commission after your loan settles. If there is ever a situation where a fee applies, we will disclose it to you up-front before any work begins. Our goal is to find you the right loan — not push a particular product.

Your bank can only offer you their own products. A broker compares loans from dozens of lenders, which means you are more likely to find a competitive rate and loan features that suit your needs. We also handle the paperwork, chase up lenders, and guide you through the process — saving you time and stress.

We are based in Adelaide, South Australia, but we assist clients right across Australia. Many of our appointments are done over the phone or via Zoom, so distance is never a barrier.

Refinancing means replacing your current home loan with a new one — either with the same lender or a different one. People refinance to get a lower interest rate, access different loan features, consolidate debts, or release equity from their property.

You should consider refinancing when:

• Your fixed rate period has ended
• It has been 2–3 years since you last reviewed your loan
• Your current rate has risen and you want to see what else is available
• You want to access equity in your home for renovations, investing, or other purposes

It is possible — for example, if break costs are high (for fixed-rate loans), if you have a short remaining loan term, or if the new rate does not offer enough savings to justify switching. That is why we run the numbers for you — we will only recommend refinancing if the benefit is clear.

Yes. If you have built up equity in your property, you may be able to refinance and access some of that equity as cash. Common reasons include home renovations, investing in another property, or debt consolidation.

If handled properly, the impact is minimal. Each new loan application can result in a credit enquiry, but we pre-screen your options to avoid unnecessary enquiries. A single enquiry typically has only a small, temporary effect on your credit score.

Yes. Self-employed borrowers can apply for home loans using BAS statements, business bank statements, or an accountant's letter to verify income. Some lenders specialise in self-employed lending and offer flexible options. Visit our Business Owner Home Loans page for more details.

A low-doc (low documentation) loan is designed for borrowers who cannot provide standard income verification such as payslips or tax returns. Instead, you may use BAS statements, business bank statements, or an accountant's declaration. These loans are primarily used by self-employed borrowers.

Yes, some lenders will approve home loans for temporary visa holders, particularly those on stable visas such as 482, 494, or partner visas. Lending criteria vary, so it is important to work with a broker who knows which lenders are most flexible. Visit our Migrant Home Loans page for more information.