Frequently Asked Questions

  • How much can I borrow?

    To work out your borrowing capacity, please refer to our handy online calculator.

  • How much deposit do I need?

    Our home loan product range can support deposits from as little as 10% (subject to meeting eligibility criteria) so it’s best to speak with a Lending Specialist about your specific goals.

    It’s also important to factor in additional costs such as stamp duty, legal fees, home insurance, risk fee such as LMI, valuation fee, application fee, rates, renovation fee, etc.

  • What are the fees and charges?

    The fees and charges will vary depending on the home loan product you choose but should be factored in when saving your deposit. For example application fee, legal fees, valuation fees, monthly administration fee, stamp duty and mortgage risk fee (if applicable) are all things to consider before purchasing. 

    Get in touch with one of our Lending Specialists on 1800 178 333 to understand the full list of fees on a First Federal home loan and when these might apply. Alternatively, you can view a high-level summary of our home loan fees for each of our home loan products here.

  • What are the interest rates?

    At First Federal, we offer a range of variable interest rates depending on your individual circumstances and the product you apply for. A decision on your rate will be based on a range of different factors including:

    • The amount you need to borrow against the property value, i.e. Loan-to-Value Ratio (LVR)
    • The size of your deposit
    • Your income structure and source
    • Credit history
    • Assets and liabilities
    • Purpose of the loan – purchase an owner-occupied property or an investment property

    Click here to learn more about our home loan products, or to get an indicative interest rate speak to one of our Lending Specialists on 1800 178 333 .

  • How long is the application process?

    Your application process can take up to 6 weeks – this is the typical timeframe for a home purchase, however, the process may be quicker depending on how quickly the necessary documentation is provided. Delays in decisions are often caused by incorrect or missing documentation so spend some time making sure you have everything you need ready to go. 

    To learn more about the First Federal Home Loan application process, please speak to a Lending Specialist on 1800 178 333.

  • What documents do I need to provide as an applicant?

    Please give us a call on 1800 178 333 and let us know your situation and your goals so our team can guide you on what documents will be required and how to fill them out.

  • I am self-employed, will I have trouble getting a home loan?

    Not at all. We offer an alt doc home loan for self-employed applicants who have not lodged their most recent tax returns.

    Please give us a call on 1800 178 333 and we can advise you of the next steps based on your situation.

  • Can I use other income sources such as Centrelink benefits for a home loan application?

    Absolutely. Some of the income sources we accept are:

    • Child maintenance
    • Centrelink income
    • Pensions
    • Family tax benefits (Part A and B)
    • Rental income (80%)
    • Workers compensation
    • Bonus/commissions/overtime/penalty rates
    • Car allowance
    • Other allowance
    • Superannuation
  • Do I need to pay Stamp Duty?

    Stamp Duty is a State Government charge, payable as part of any home purchase. The amount of stamp duty required depends on the state in which you’re buying the home and the purchase price of the property.

    To get an estimate of how much stamp duty you might need to pay on a purchased property in each state in Australia, try our Stamp Duty Calculator.

  • Do you charge Lender’s Mortgage Insurance (LMI)?

    No – none of our loans incurred LMI as our maximum LVR is 80%

    LMI is a third-party insurance premium payable by you as the borrower, to protect the lender against the potential loss that may be incurred if you’re unable to repay your home loan.

  • I’m not an Australian resident. Can I still apply for a home loan?

    Yes, if you have sufficient income and expenses that can be verified in an Australian bank account to satisfy our credit assessment.

  • Can I use my partner’s income to demonstrate serviceability?

    Yes, but it needs to be a joint application.

  • How do I apply for a home loan?

    It’s easier than you might think. Contact us on 1800 178 333 from Monday to Friday, between 8:30am and 5:30pm Sydney time and we will be more than happy to guide you through the application process. 

    Or you can download our application form on the home page of our website

  • Can I get pre-approval for a home loan?

    Yes. Pre-approval can help you understand what property/homes are within your budget and can help you bid with confidence at property auctions. Please note the approval is conditional and does not guarantee that your loan will be approved in full.

    You can call us on 1800 178 333 to start the ball rolling or jump to Quick Start home loan application to see if you’re are eligible.

  • How can I check the status of my application?

    If you’d like to check the status of your application, please give us a call on 1800 178 333 or email us at

  • Is a valuation required?

    Yes, it is. A valuation is an important step to finalising your loan, it keeps you and your investment safe and must be conducted by one of our accredited panel of valuers.

  • Why is ID check required?

    To prevent cases of fraud, Australian law requires all people who borrow money for a property to have their identity verified face to face. This is to ensure that the borrower is who he or she claims to be.

  • How long does it take for the loan funds to be received?

    The funds along with a welcome letter with details of your new loan will be released on the agreed settlement date.