FAQs

A mortgage broker compares home loans across multiple lenders on your behalf, negotiates rates, and manages the paperwork from application through to settlement. Unlike a bank, a broker isn't tied to one set of products - they work for the borrower, not the lender. Infinity Mortgage Brokers compares 40+ lenders to find the right fit for each client.

A good Bankstown mortgage broker should be locally based, hold a current credit representative number, and have verifiable Google reviews from local clients. Dimitri Giannopoulos at Infinity Mortgage Brokers has been servicing Bankstown and South West Sydney since 2017, holds credit representative number 488432 under Connective Credit Services (ACL 389328), and has 120+ five-star Google reviews. Ask any broker how they're paid, which lenders they recommend most, and whether they stay in touch after settlement.

Yes. In Australia, mortgage brokers are paid commission by the lender once your loan settles, not by you. Infinity Mortgage Brokers' service is free in most cases, with no obligation.

With Bankstown's median house price around $1.5-1.6 million, a standard 20% deposit is roughly $300,000-$320,000 - but most buyers don't need that much. Units are far more accessible at a median near $600,000, meaning a 10% deposit of around $60,000. First home buyers can also purchase with just a 5% deposit under the federal scheme. We help first home buyers work out the smallest viable deposit for their situation.

Going direct ties you to one lender's products and rates. A broker shops your application across dozens of lenders simultaneously and often secures sharper rates because lenders compete harder for broker-introduced business. The other advantage: if your bank says no, a broker knows which lenders will say yes - particularly useful for self-employed, low-deposit, or credit-impaired borrowers.

Bankstown buyers access the same NSW and federal schemes as the rest of the state. The federal First Home Guarantee (now the Australian Government 5% Deposit Scheme) lets eligible first home buyers purchase with a 5% deposit and no LMI - and since October 2025 there are no income caps, no place limits, and the NSW price cap is $1.5 million, which covers almost all of Bankstown. On top of that, the NSW First Home Buyers Assistance Scheme gives a full stamp duty exemption up to $800k and a concession to $1M, and the $10,000 First Home Owner Grant applies to new builds. We help first home buyers work out which apply.

Lenders pay the broker an upfront commission (around 0.65% of the loan) when the loan settles, plus a smaller trailing commission each year the loan stays active. The borrower pays nothing in most cases. Brokers are legally required to act in your best interests under the Best Interests Duty.

Borrowing capacity depends on income, expenses, existing debts and deposit - not location. A single buyer on $90k with minimal debts might borrow $500-550k; a couple earning $180k combined could reach $900k-$1.1M. Given Bankstown's price range, many first home buyers target units (median ~$600k) rather than houses. A pre-approval gives you a real figure rather than a rough guess.

Units are the most accessible entry point in Bankstown, with a median around $600,000 - well within the $1.5M First Home Guarantee cap and often under the $800k stamp duty exemption threshold. Houses sit much higher (median ~$1.5-1.6M). Nearby suburbs like Yagoona, Bass Hill, Punchbowl and Greenacre can offer slightly more value, while the apartments near Bankstown station appeal to first home buyers wanting transport access.

Most pre-approvals come back within 3-10 business days, depending on the lender and how clean your documents are. Self-employed applicants or anyone with complex income usually sit at the longer end. Bankstown has an active auction and private-treaty market, so getting pre-approval sorted before you start inspecting matters - well-priced properties move quickly.

Yes - and this is where brokers genuinely outperform banks. Bankstown has one of South West Sydney's largest self-employed communities: small business owners, retail and restaurant operators along the CBD strips, tradespeople and contractors. Lenders treat self-employed income very differently - some accept one year of tax returns, others want two; some accept BAS only. A broker knows which of our self-employed lenders fit your specific income structure.

Lenders Mortgage Insurance is a one-off cost charged when your deposit is below 20%. It protects the lender, not you, and can add $15,000-$40,000+ to your loan depending on the purchase price. You can avoid LMI with a 20% deposit, a guarantor, the federal First Home Guarantee (5% deposit, no LMI), or a professional LMI waiver available to some occupations (doctors, accountants, lawyers).

Neither is universally better - it depends on your cash flow, how long you plan to hold the property, and where rates are heading. Fixed rates give certainty; variable rates give flexibility (offset accounts, redraw, extra repayments). Many borrowers split their loan: part fixed, part variable. We model both scenarios before you commit.

Often, yes. Brokers can access wholesale and broker-only rates that aren't advertised publicly, and lenders compete harder for broker-introduced loans. That said, sometimes a bank you already deal with will match a sharper offer to keep you - a broker can use that to negotiate either way.

Common triggers: your fixed rate is rolling off, your current rate is 0.5%+ above market, you want to access equity, you're consolidating debt, or your circumstances have changed. On an $800,000 loan, a 0.5% difference costs roughly $4,000 a year. A review every 2-3 years usually pays for itself. We offer free refinance reviews for Bankstown homeowners.

Common triggers: your fixed rate is rolling off, your current rate is 0.5%+ above market, you want to access equity, you're consolidating debt, or your circumstances have changed. On an $800,000 loan, a 0.5% difference costs roughly $4,000 a year. A review every 2-3 years usually pays for itself. We offer free refinance reviews for Bankstown homeowners.

Yes - and structuring an investment loan correctly matters more than getting the lowest rate. Loan structure affects tax deductibility, future borrowing capacity, and how easily you can scale a portfolio. Bankstown is an active investor market: houses yield around 2.7% but units yield closer to 5.4%, and the T3-to-Metro conversion is lifting investor demand near the station.

Bankstown sits at the heart of South West Sydney's most active property corridor. The T3 Bankstown line is being upgraded to Metro standard, which will cut CBD travel times and underpin values for years. It offers relative affordability versus Sydney (units from ~$600k), a large and diverse tenant base with around 42% of residents renting, proximity to major employment at Bankstown Airport and the Canterbury-Bankstown commercial corridor, and 25 local parks plus the Georges River parklands. The result is a suburb that stacks up on growth, yield and lifestyle measures.

Standard documents: photo ID, last 2 payslips, 3 months of bank statements, your most recent tax return or group certificate, and details of any existing debts (credit cards, HECS, car loans, BNPL). Self-employed applicants need 2 years of personal and business tax returns plus recent BAS. We send a clear checklist before you apply so nothing gets missed.

Often yes - but it depends on what's on your file. A late phone bill is very different from a default, judgement or bankruptcy. Specialist and non-bank lenders on our panel assess past credit issues case by case, depending on the age, amount and reason for the impairment, with the option to refinance to a mainstream lender once your credit recovers. We've helped clients approved when their own bank said no.

Refinancing isn't just chasing a lower rate - it's restructuring the loan to fit where you are now. Bankstown homeowners who bought five to eight years ago have typically seen strong capital growth (house values up around 6.6% in the past year alone), so many are sitting on equity they haven't fully used. We review your current loan, model the switching costs, then lodge with whichever lender comes out ahead. Most refinance clients save thousands across the life of the loan.

From application to unconditional approval usually takes 1-3 weeks. From approval to settlement is typically another 4-6 weeks, driven by the contract's settlement period - standard NSW contracts default to 42 days. If you're buying at auction, get pre-approval first - there's no cooling-off period and finance clauses don't apply.

Yes. Construction loans work differently from standard home loans - funds are released in stages as your builder hits milestones, and you only pay interest on what's drawn. Not every lender does construction loans well, and the wrong choice can cause cash flow headaches mid-build. A broker matches you to lenders who actually understand construction.

Yes - and it's increasingly common in Bankstown and the surrounding LGA. A well-built granny flat can generate meaningful additional rental income on an existing Bankstown block, and some lenders count that rental income towards your borrowing capacity while others don't. Granny flat finance can be structured as part of a construction loan or funded through equity in your existing home. Knowing which lenders treat the rental income favourably makes a real difference.

Yes, but expect a smaller lender pool and tighter conditions. Non-resident loans usually require larger deposits (often 30%+), foreign income may only be partly counted, FIRB approval may apply, and a 9% NSW foreign buyer stamp duty surcharge applies to foreign purchasers. Bankstown has a large and diverse multicultural community, and we work with visa holders and expats regularly - we know which lenders assess these applications competitively.

Step one is a free, no-obligation chat about your goals and finances. Step two: we assess your borrowing capacity across 40+ lenders and recommend a shortlist. Step three: pre-approval, then property hunt, then formal approval, then settlement. We handle the lender liaison and paperwork through to settlement, so you're never dealing with the banks alone. Call Dimitri on 0426 955 190 to get started.

Nothing, in most cases - the lender pays the broker's commission once your loan settles. There are no application fees, no upfront costs, and no fee if you don't proceed. If a broker ever quotes you a fee, ask exactly what it covers (legitimate cases exist for complex commercial work) before agreeing.

Yes, through a Limited Recourse Borrowing Arrangement (LRBA), which is the only legal way an SMSF can borrow to buy property. SMSF loans carry higher rates (typically 1-2% above standard home loans), lower LVRs (usually 70-80%), and require a bare trust structure. Only a handful of lenders do SMSF lending well, and knowing which ones makes a significant difference. Worth discussing with both a broker and your accountant before committing.

Not directly. A broker can run preliminary serviceability checks without hitting your credit file. A credit enquiry only happens when a formal application is lodged with a lender - which a good broker minimises by only lodging where approval is likely. Multiple enquiries in a short window can hurt your score, so part of the broker's job is preventing that.

The easiest way is a free, no-obligation chat - call or text Dimitri on 0426 955 190, email dimitri@imbrokers.com.au, or send a message via the contact page. Most first conversations take 15-20 minutes, and we can usually tell you within that time whether your situation is workable and what the next step looks like.