Home loans, explained in plain English.
Seek Mortgages is an independent Australian publication that turns mortgage jargon into clear, useful guides. We do not sell loans and we do not take enquiries. We just explain how it all works so you can walk into any lender or broker knowing what to ask.
Last updated 1 July 2026 · reviewed by the Seek Mortgages editorial team
The typical new owner-occupier home loan across Australia in early 2025, a reminder that small differences in rate add up to real money over 30 years.
Source: Australian Bureau of Statistics, Lending Indicators (2025)Lenders are expected to check you could still repay if your rate rose by three percentage points. Knowing this explains a lot about how much you can borrow.
Source: APRA prudential guidance (buffer set October 2021)Put in less than a fifth of the price and most lenders add lenders mortgage insurance, which protects them, not you. We explain the ways around it.
Source: ASIC Moneysmart, home loan guidanceThree ways in, depending on what you need today
Whether you are comparing loan types, trying to work out if a lender will say yes, or just stuck on a word, there is a clear starting point.
Understand every kind of home loan
Prime, low doc, private and SMSF lending, each explained without the jargon so you can tell what actually fits your situation.
Browse loan-type guides →Getting approvedSee how lenders really decide
Serviceability buffers, deposits, LVR and credit history, laid out plainly so an approval feels less like a black box.
How approval works →ReferenceLook up any term in seconds
From offset accounts to LMI and comparison rates, our glossary defines the words lenders use, in one sentence each.
Open the glossary →Start with the popular explainers
Long-form, worked-through guides to the loan types Australians ask about most. Each one is general information, updated with current figures and cited sources.
Bank valuation vs market value: why the bank's number is lower
Why the valuer's figure sits under the agent's appraisal, the desktop, kerbside and full inspection levels, what a short valuation does to your LVR, and the challenges that actually work.
Managing your loanCost to refinance home loan: every fee and the break-even point
Discharge and application fees, state registration costs, break costs on a fixed rate, when LMI comes back, what a cashback is worth, and the month a switch pays for itself.
Managing your loanHow does home equity work in Australia
Value minus debt, the 80 per cent usable equity rule with worked examples, top ups and split loans, the second property sums, and why crossed loans cause trouble later.
How the industry worksHow to become a mortgage broker in Australia
The honest path into broking: the Cert IV, an aggregator, credit representative status, two mentored years, and what the money really looks like before your book exists.
Managing your loanHow to discharge a mortgage in Australia
What a discharge of mortgage actually is, the form that starts it, typical fees and bank timeframes, PEXA settlement, and why a paid out loan does not clear your title by itself.
Loan typesWhat is a bridging loan and how does it work?
Peak debt, end debt, open versus closed bridging, the 12 month clock the banks set, and what actually happens if your old home does not sell in time.
Getting approvedWhat is a comparison rate, and when can you trust it?
The single figure under every home loan ad, the $150,000 example the law forces it to use, and a worked case where the cheaper loan shows the higher rate.
Getting approvedWhat is a guarantor home loan, and what does the guarantor risk?
How a parent's home stands behind a low deposit loan, why a limited guarantee is the only kind to sign, what the guarantor risks, and when the guarantee is released.
Loan typesWhat is an interest only loan, and what happens when it ends
Repayments cover the interest while the balance stays put, usually for one to five years, then the loan reverts to principal and interest over a shorter term. The payment jump is the part to plan for.
InvestingWhat is rentvesting? Renting where you live, owning where the numbers work
Renting the suburb you want while a tenant helps pay off a property somewhere cheaper: the cash flow spread, the 2026 tax changes, and the concessions you give up.
How the industry worksWhere mortgage broker leads come from, and what it means for you
Why a broker rings within minutes of an online enquiry, what a bought lead costs them, why none of it lands on your loan, and the rules that protect you.
Loan typesPrime home loans explained
What lenders mean by a prime borrower, how serviceability buffers work, and why a strong file can unlock sharper rates and cashback offers.
Loan typesLow doc loans, explained for the self-employed
How alternative income verification works when you run your own business, what documents lenders accept, and the trade-offs to weigh up.
Loan typesPrivate mortgages and non-bank lending
When short-term private funding is used, how bridging and caveat loans differ from a bank mortgage, and the costs that come with speed.
InvestingSMSF home loans and the LRBA structure
Buying property inside a self-managed super fund, what a limited recourse borrowing arrangement is, and the rules the ATO enforces.
Getting approvedHome loans after credit problems
How defaults and repayment history are recorded, how long they stay on file, and the realistic path back to a mainstream loan.
Loan typesCommercial property loans explained
How finance for shops, offices and warehouses is assessed: lower LVRs, interest cover ratios, lease doc and full doc options, GST, and the costs to weigh up.
Independent by design, and clear about it
Most mortgage websites are built to capture your details and pass them to a broker. That is a real business and a legitimate one. Services such as PrimeLeads verify enquiries and sell them to brokers at an agreed price, which is how a good number of brokers find clients. Seek Mortgages is not that. We are a publication, so our only job is to explain things well. There is no enquiry form, no rate table pushing one lender, and no commission riding on what you read.
- Every figure is dated and linked to its original source, from the ABS to APRA and ASIC Moneysmart.
- Guides carry a plain last-updated stamp so you can see how current they are.
- We say general information, not advice, because that is exactly what this is.
- No stock photos and no third-party trackers dressing up the content.
General information only. Seek Mortgages is not a broker or lender.
Explore every Seek Mortgages guide
A directory of everything we publish. Pick a loan type, see how approval really works, or look up a word. General information only, never a sales pitch.
Bank valuation vs market value
Why the valuer's figure sits under the agent's appraisal, the desktop, kerbside and full inspection levels, what a short valuation does to your LVR, and the challenges that actually work.
Managing your loanCost to refinance
Discharge and application fees, state registration costs, break costs on a fixed rate, when LMI comes back, what a cashback is worth, and the month a switch pays for itself.
Managing your loanHow home equity works
Value minus debt, the 80 per cent usable equity rule with worked examples, top ups and split loans, the second property sums, and why crossed loans cause trouble later.
How the industry worksBecoming a mortgage broker
The honest path into broking: the Cert IV, an aggregator, credit representative status, two mentored years, and what the money really looks like before your book exists.
Managing your loanDischarging a mortgage
What a discharge of mortgage actually is, the form that starts it, typical fees and bank timeframes, PEXA settlement, and why a paid out loan does not clear your title by itself.
Loan typesBridging loans
Peak debt, end debt, open versus closed bridging, the 12 month clock the banks set, and what actually happens if your old home does not sell in time.
Getting approvedComparison rates
The single figure under every home loan ad, the $150,000 example the law forces it to use, and a worked case where the cheaper loan shows the higher rate.
Getting approvedGuarantor home loans
How a parent's home stands behind a low deposit loan, why a limited guarantee is the only kind to sign, what the guarantor risks, and when the guarantee is released.
Loan typesInterest only loans
Repayments cover the interest while the balance stays put, usually for one to five years, then the loan reverts to principal and interest over a shorter term. The payment jump is the part to plan for.
InvestingWhat is rentvesting
Renting the suburb you want while a tenant helps pay off a property somewhere cheaper: the cash flow spread, the 2026 tax changes, and the concessions you give up.
How the industry worksWhere broker leads come from
Why a broker rings within minutes of an online enquiry, what a bought lead costs them, why none of it lands on your loan, and the rules that protect you.
Loan typesPrime home loans
What lenders mean by a prime borrower, how serviceability buffers work, and why a strong file can unlock sharper rates and cashback offers.
Loan typesLow doc loans
How alternative income verification works when you run your own business, what documents lenders accept, and the trade-offs to weigh up.
Loan typesPrivate mortgages
When short-term private funding is used, how bridging and caveat loans differ from a bank mortgage, and the costs that come with speed.
InvestingSMSF home loans
Buying property inside a self-managed super fund, what a limited recourse borrowing arrangement is, and the rules the ATO enforces.
Getting approvedBad credit home loans
How defaults and repayment history are recorded, how long they stay on file, and the realistic path back to a mainstream loan.
Loan typesCommercial property loans
How finance for shops, offices and warehouses is assessed: lower LVRs, interest cover ratios, lease doc and full doc options, GST, and the costs to weigh up.
LibraryAll home loan guides
The full library of plain-English explainers, grouped by loan type, getting approved and investing.
ReferenceMortgage glossary
Every home loan term you will meet, from LVR and LMI to offset accounts and comparison rates, defined in one sentence.
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