Home loan FAQs | From deposits & pre-approvals to investing

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Frequently asked questions

Home loans

Why Advance Finance Group?

Firstly, we believe it is a privilege to assist you with your home loan, a privilege we do not take lightly. We take the time to understand your individual needs, explain the many options, recommend the solution to purchase your home and importantly educate you on how to pay your home off sooner.

How much deposit is required to purchase a home?

Lenders will require a minimum of 5% deposit, and this will generally need to be evidenced through bank statements for a minimum of 3 months. You will also need to have funds to cover the associated purchase costs (legal fees, stamp duty, etc.). Please refer to our calculators or give us a call for more information.

How important is my Credit score?

Your credit score is vitally important. All lenders will obtain a credit report to assess your creditworthiness. Most lenders will require your last 3 months transactional bank statements to ensure the conduct is satisfactory. Try to avoid payments options such as Afterpay, Zip Pay, and Payday lenders, as these will all show on your credit report and may affect your ability to borrow.

How can I become “Loan Application Ready”?

Let’s prepare together. We will guide you through what needs to be done prior to submitting an application, such as having your accounts in order, a savings plan established and prepare for a pre-approval.

What if I have bad credit?

Do not fear, all is not lost. Our lending panel has lenders that will consider applicants with adverse credit. We have access to a wide range of non-conforming lenders, most which have more flexibility than traditional lenders.

Mortgage Stress, can we assist?

The short answer is Yes! We understand that life has it’s up and downs. People find themselves in a position of financial stress due to many reasons. We take the time to listen and understand, so we can work around your issues ,and assist in getting you back on track with a smile on your face again.

How do I build a property portfolio?

Together! We discuss strategies that compliment your lifestyle and financial direction without adding undue stress. We look at your short and long term goals and work together to ensure you achieve the financial outcome you desire.

Why Us?

Assisting you is a privilege, a privilege we don’t take lightly

Approachable

We are easy to talk to and easier to connect with. Ideas, scenarios and information, we’re ready to listen. We strive to understand your vision whether it be for family lifestyle or business growth.

Professional

Experience does count and we have it, awards too. We are experts in financial solutions. Let us search through the maze of lenders to provide you with the right solution.

Dependable

Our team are reliable, trustworthy and can be counted on. Our objective is for long and enriching relationships. We are with you now, and into the future.

Approachable

We are easy to talk to and connect with. If you have an idea or scenario, we’re ready to listen. We strive to understand your vision, whether it be for business growth or family lifestyle.

Professional

Experience does count and we have it, awards too. We are experts in financial solutions. Let us search through the maze of lenders to provide you with the right solution.

Dependable

Our team are reliable, trustworthy and can be counted on. Our objective is to create long and enriching relationships with our clients. We will be with you now, and into the future.

What Our Client's Say

"I have been using Gordon and his terrific services for nearly 10 years now. Not once has he let me down and has set the bar extremely high in terms of service and delivering on time. Gordon has secured for me multiple properties, multiple vehicles, construction loans, and has my entire family financially insured. Some of these loans were very complex with multiple parties and properties involved, but Gordon always found a way to make it happen and get the deal done! He is fantastic to work with and truly puts in the effort to understand me as a client and my financial needs. I recommend Gordon to all of my friends and family and not once has he disappointed!"

"A couple of years ago we wanted to buy our first home, but first we need to get our finances in order. We met with Gordon at Advance and he guided us on how to be in a position to be able to purchase our first home. Now, we are living in our first DREAM home, Thanks to Gordon, without him this wouldn’t have been possible! Gordon’s drive and his attention to detail did not stop there! Gordon also helped us get our personal insurances and finances together, to help us aim to live an as organised and stress-free life as possible. Go and see Gordon at Advance, he changed our lives and HE WILL CHANGE YOUR LIFE too! "

"We have been using Gordon for the last 9 years for various loans, business, mortgages and vehicles. We own an electrical contracting business and every time we require advice on loans or insurance, we contact Gordon straight away. We always know it is going he will find us the best loan, at a great rate and that it will be hassle free with the quickest turn around possible. Gordon always goes above and beyond and gets you the best product with the best service. We have no hesitation to recommending him to anyone and everyone we know."

"For the past 5 years Mike and I have entrusted Gordon Dobson from Advance Finance and Insurance Group with our financial matters including business finance, personal loans and also our insurances. From the get go we felt very comfortable in his presence, amazed at this knowledge capacity and professional organisation ability. I know we can count on Gordon at any whim."

"Hi Gordon just a quick note to express our gratitude for arranging finance urgently for us so we could pounce on an opportunity to make some unexcepted money. You came through again as you did with our motor vehicles and equipment financing needs. Great to have you on our side."

"Thank you, Gordon, for getting us started in our own small business, not only did you organise our finances easily and in record time but you handled our insurances too. The advice you gave us on how to manage everything was invaluable. We will be recommending you to anyone that asks about how we did it."