Refinancing

Most of our mortgage broking services are provided at no direct cost to you as our client. CFC Finance receives commission payments from lenders when your loan settles, which means you can access our expertise and guidance without paying upfront fees. This commission structure is regulated by Australian law and doesn't affect the interest rate or terms of your loan. In some specialised situations, we may charge a fee for service, but this would always be discussed and agreed upon before any work begins. We believe transparency is crucial, so we'll always explain our fee structure and any potential costs during our initial consultation.

A fixed interest rate remains unchanged for a predetermined period, typically one to five years, providing certainty about your repayment amounts during that time. This can help with budgeting and protect you from interest rate rises. A variable interest rate can change based on market conditions and lender decisions, meaning your repayments may increase or decrease over time. Variable rates often start lower than fixed rates and may offer features like offset accounts or redraw facilities. At CFC Finance, we help you understand how each option aligns with your financial goals and risk tolerance. Some borrowers choose split loans, combining both fixed and variable portions to balance certainty with flexibility.

If you have a variable rate loan, changes in official interest rates or lender margins will affect your repayments. When rates increase, your monthly repayments rise, and when they decrease, your repayments fall accordingly. Your lender will notify you of any changes, typically with at least 30 days' notice. If you have a fixed rate loan, your repayments remain unchanged during the fixed period, regardless of market movements. At CFC Finance, we maintain ongoing relationships with our clients and can assist with refinancing discussions if rate changes significantly impact your financial situation. We also provide guidance on strategies to manage rate fluctuations, such as making additional repayments during low-rate periods.

While many lenders prefer a 20% deposit to avoid Lenders Mortgage Insurance (LMI), it's possible to purchase property with a smaller deposit. Some lenders accept deposits as low as 5% for owner-occupiers, though this typically requires LMI coverage. First home buyers may access government schemes or grants that reduce deposit requirements further. The deposit amount also depends on the property price, your income, and the lender's criteria. At CFC Finance, we help you understand your borrowing capacity and explore options to maximise your deposit through savings, family assistance, or government initiatives. We can also explain how different deposit amounts affect your loan terms, insurance requirements, and overall borrowing costs.

Yes, CFC Finance can assist clients with various credit histories and income situations. Our extensive lender network includes specialists who consider applications from borrowers with past credit issues, irregular income, or unique employment circumstances. This might include self-employed individuals, contractors, or those with previous defaults or bankruptcies. We take time to understand your situation and identify lenders whose criteria align with your circumstances. While options may be more limited and potentially carry different terms, many Australians with credit challenges can still achieve home ownership or investment goals. We'll provide honest advice about your prospects and work to present your application in the most favourable light possible.

A mortgage broker acts as an intermediary between you and potential lenders, helping you find suitable home loan options. At CFC Finance, we work with a wide network of banks, credit unions, and non-bank lenders across Australia to compare loan products on your behalf. Rather than approaching each lender individually, we handle the research and application process, saving you considerable time and effort. Our expertise allows us to identify loan features that align with your financial situation and property goals, whether you're purchasing your first home or expanding your investment portfolio. We also provide ongoing support throughout the application process and can assist with refinancing needs in the future.

Absolutely. CFC Finance has extensive experience helping Australian investors secure finance for investment properties. Investment loans often have different criteria, interest rates, and features compared to owner-occupier loans. We understand the unique considerations for property investors, including tax implications, rental income assessments, and portfolio lending strategies. Our lender network includes specialists in investment property finance who can structure loans to support your investment goals. Whether you're purchasing your first investment property or expanding an existing portfolio, we can guide you through serviceability calculations, deposit strategies, and loan features that benefit property investors, such as interest-only payment options where appropriate.

The mortgage approval timeline can vary depending on several factors, including the lender, complexity of your application, and current market conditions. Generally, you can expect the process to take between two to six weeks from application submission to formal approval. Pre-approval, which provides conditional approval subject to property valuation, often takes one to two weeks. At CFC Finance, we work to streamline this process by ensuring your application is complete and accurate before submission, and we maintain regular communication with lenders to monitor progress. We'll keep you informed throughout each stage and can provide realistic timeframes based on your chosen lender and specific circumstances.

The documentation required for your home loan application typically includes proof of income, such as recent payslips, tax returns, and employment letters. You'll also need identification documents like your driver's licence and passport, plus bank statements covering the last three to six months. If you're self-employed, additional documentation such as business financial statements and accountant-prepared income summaries may be required. For the property purchase, you'll need the contract of sale and any relevant building or pest inspection reports. At CFC Finance, we provide a comprehensive checklist tailored to your specific situation and lender requirements, helping ensure your application progresses smoothly through the approval process.

Refinancing can be beneficial if you can secure a lower interest rate, access superior loan features, or consolidate debts. However, it's important to consider all costs involved, including discharge fees, application fees, and potential break costs for fixed-rate loans. At CFC Finance, we conduct a comprehensive review of your current loan against available market options, considering factors like remaining loan term, current equity, and your changed financial circumstances. Sometimes your existing lender may offer retention deals to keep your business. We help you understand the genuine savings potential and ensure any refinancing decision supports your long-term financial objectives rather than just chasing a marginally lower rate.