Mortgage Experts with 20+ years Experience
Whether you are buying your first home, upgrading, refinancing, or investing in property, Providence Finance Hub gives you access to over 50 lenders – and the expertise to find the right loan for your situation.
With more than 20 years of banking and mortgage broking experience, our team has helped hundreds of Australian families and investors navigate the home loan market with confidence. We do the research, manage the paperwork, and negotiate on your behalf – so you get the right outcome without the stress.
What Is a Home Loan?
A home loan (also called a mortgage) is a loan secured against residential property. The lender provides funds to purchase the property, and you repay the loan – plus interest – over an agreed term, typically 25 to 30 years. The property itself acts as security for the loan. If you stop making repayments, the lender has the right to sell the property to recover the outstanding debt.
Home loans come in many forms, with different interest rate types, repayment structures, features, and fees. Choosing the right loan is not just about getting the lowest rate – it is about finding a structure that suits your income, your goals, and your life stage.
Types of Home Loans We Arrange
Standard Home Loans
A straightforward principal and interest loan for the purchase of a residential property. Available with fixed or variable interest rates, or a combination of both (a split loan). Most suitable for owner-occupiers and straightforward purchases.
First Home Buyer Loans
Specifically structured for first home buyers, including access to government schemes such as the First Home Guarantee (allowing eligible buyers to purchase with a 5% deposit without paying Lenders Mortgage Insurance) and First Home Owner Grant (FHOG) where applicable. We identify every scheme you qualify for before you apply.
Refinancing
If you already have a home loan, refinancing to a better rate or structure can save you thousands of dollars over the life of the loan. We assess your current loan, compare it to the current market, and identify whether switching lenders or products will leave you better off.
Investment Property Loans
Home loans for residential investment properties have different assessment criteria and often different rates compared to owner-occupied loans. We arrange investment property finance for both new and experienced investors, including interest-only structures for investors managing cash flow.
Self-Employed Home Loans
Self-employed borrowers face additional complexity when applying for home loans – lenders assess income differently when there are no PAYG payslips. We work with lenders who have specific self-employed policies, including low-doc options where income is verified through BAS statements or bank statements rather than full tax returns.
Construction Home Loans
If you are building a new home, a construction loan releases funds in stages (called progress draws) as the build progresses, rather than as a lump sum. Interest is charged only on the funds drawn at each stage. We arrange construction loans for both owner-occupied and investment builds.
Guarantor Home Loans
A guarantor home loan allows a family member (typically a parent) to use equity in their own property as additional security for your loan. This can allow you to purchase with a smaller deposit or avoid Lenders Mortgage Insurance. We explain the risks and responsibilities for all parties before proceeding.
How Much Can I Borrow?
Your borrowing capacity depends on several factors including your income (gross and net), existing debts, living expenses, credit history, the size of your deposit, and the lender’s individual assessment criteria. As a rough guide, most lenders will allow you to borrow up to 4.5 to 6 times your gross annual income – but this varies significantly by lender and personal circumstance.
We provide a detailed borrowing capacity assessment before you apply – so you know your realistic budget before you start looking at properties.
The Home Loan Process – Step by Step
- Initial consultation: We discuss your goals, financial situation, and what you are looking to achieve. This takes around 30 minutes and is free with no obligation.
- Borrowing capacity assessment: We calculate how much you can borrow across multiple lenders and identify the most suitable loan structures for your situation.
- Lender selection: We shortlist the lenders and products that best match your profile, comparing rates, features, fees, and approval likelihood.
- Application preparation: We gather your documentation, prepare a complete and well-presented application, and submit to the selected lender on your behalf.
- Pre-approval: Once pre-approved, you can search for a property with confidence, knowing your finance is conditionally in place.
- Formal approval and settlement: Once you have found a property, we manage the formal approval process and coordinate with your solicitor through to settlement.
Frequently Asked Questions
How much deposit do I need to buy a home?
Most lenders require a minimum deposit of 5 to 10% of the property value, though a 20% deposit avoids Lenders Mortgage Insurance (LMI). First home buyers may be eligible for the First Home Guarantee, which allows eligible buyers to purchase with a 5% deposit without paying LMI. We identify which schemes you qualify for and structure your loan accordingly.
What is the difference between a fixed and variable home loan?
A fixed rate home loan locks in your interest rate for a set period (typically 1 to 5 years), giving you certainty about your repayments. A variable rate loan moves with market interest rates – repayments can go up or down. Split loans combine both. The best structure depends on your financial situation, risk tolerance, and how long you plan to hold the property.
Can I get a home loan if I am self-employed?
Yes. Self-employed borrowers can access home loans through full-doc and low-doc pathways. Full-doc requires 2 years of tax returns and financial statements. Low-doc allows income to be verified through BAS statements, bank statements, or an accountant’s letter. We specialise in self-employed lending and work with multiple lenders who have specific self-employed home loan policies.
How long does it take to get a home loan approved?
Pre-approval typically takes 1 to 5 business days once all documentation is submitted. Formal approval after a property has been found and valued takes 3 to 10 business days on average. We manage the process on your behalf and provide realistic timelines before you commit to a property.
Should I use a mortgage broker or go directly to a bank?
Using a mortgage broker gives you access to dozens of lenders and loan products rather than being limited to one bank’s range. Brokers compare rates, structures, and policies across the market and are paid by the lender, not you, in most cases. Providence Finance Hub accesses 50+ lenders and has 20+ years of experience matching clients with the right home loan for their situation.
What is Lenders Mortgage Insurance (LMI)?
LMI is a premium charged by the lender when your deposit is less than 20% of the property value. It protects the lender in the event of default – not you. The cost varies by loan amount and LVR but can run to tens of thousands of dollars. We identify whether LMI applies and help you minimise or avoid it where possible.
Can Providence Finance Hub help with refinancing?
Yes. Refinancing is one of our most common services. We assess your current loan, compare it against the current market, and identify whether refinancing to a lower rate or better structure will save you money. We handle the entire process including the application, valuation, discharge of your old loan, and settlement of the new one.
What documents do I need to apply for a home loan?
Standard documents include: proof of identity, recent payslips or tax returns (if self-employed), bank statements (typically 3 to 6 months), details of existing debts and liabilities, and information about the property you are purchasing. We provide a full document checklist tailored to your specific application before you start gathering paperwork.
Why Choose Providence Finance Hub?
- 20+ years of banking and mortgage broking experience
- Access to 50+ lenders including major banks, non-banks, and specialist lenders
- Expert in self-employed, low-doc, first home buyer, and complex applications
- Independent advice – we recommend what is best for you, not what earns us the most
- Full service from application through to settlement
- Australia-wide service
