Looking to buy or refinance a home in Perth? Whether you’re a first-home buyer, upgrading your space, investing, or just hunting for a better deal, understanding your home loan options is crucial. With interest rates shifting and lenders tightening policies, the right advice can save you time, money, and a lot of stress.
At Strategic Mortgages Perth, we’ve helped hundreds of West Australians secure smarter, more strategic loans. This guide covers everything you need to know before applying for a home loan, including deposit requirements, loan types, and why working with a mortgage broker could give you the edge.
Understanding Your Home Loan Options
There are a few core types of home loans available in WA, and the right one for you depends on your goals, income, and whether you’re buying to live in or invest.
Principal and interest loans are the most common, helping you pay down your loan balance and build equity with every repayment. If you want predictable repayments, a fixed-rate loan could suit, locking in your interest rate for a set period. Prefer flexibility? Variable-rate loans usually come with extra features like offset accounts and the ability to make extra repayments.
Some borrowers choose to split their loan, locking in a portion and keeping the rest variable. And for investors, interest-only loans are often used to maximise cash flow during the early years of property ownership.
Each structure has pros and cons, and that’s where a mortgage broker can help. We’ll walk you through the trade-offs so you can choose with confidence.
Learn more about home loan structures with our Perth mortgage broker team.
What Home Loan Products Do We Offer?
We’re not tied to any one bank. As a Perth home loan broker, we work with over 30 lenders – Including major banks, regional banks, credit unions and specialist non-bank lenders. This gives us the flexibility to find the right product for your specific needs.
We’ll guide you through:
- Fixed, variable, and split rate home loans
- Interest-only and principal-and-interest options
- Owner-occupier and investor loans
- Offset accounts and redraw features
- LMI waiver schemes for eligible borrowers
- Flexible repayment structures and custom loan terms
Because we have access to such a wide range of lenders, we can compare multiple options and negotiate better outcomes than most borrowers can get directly. We also help you understand how each option fits into your broader financial goals, whether that’s lowering your repayments or paying off your mortgage sooner.
How Much Deposit Do You Need?
Deposit requirements vary depending on the lender and your financial situation, but here’s a general guide:
- 5% deposit: Possible with certain schemes, though you may need to pay Lenders Mortgage Insurance (LMI)
- 10% deposit: Widely accepted, but LMI is typically required
- 20% deposit: The benchmark – Avoids LMI and unlocks better loan terms
If you’re still building your deposit, don’t stress. We’ll help you explore options like:
- LMI waiver programs for essential workers or eligible professionals
- Government-backed schemes like the First Home Guarantee (buy with just 5% and no LMI)
- Gifted deposits or family guarantor loans
We’ll also give you a realistic view of how much you’ll need to cover settlement costs, stamp duty, and fees, so you’re fully prepared.
Loan Types and Features You Should Know
The right loan isn’t always about securing the lowest interest rate, you should be choosing a structure that supports your lifestyle, cash flow, and future plans.
Here’s a quick breakdown of the main options:
- Principal and interest loans are the go-to for most owner-occupiers. You pay off both the loan amount and interest, building equity over time.
- Interest-only loans are more common among investors looking to maximise cash flow and tax efficiency in the short term.
- Fixed rate loans lock in your rate for 1–5 years, giving you certainty over repayments, especially useful in volatile markets.
- Variable rate loans move with the market but usually come with flexible features like extra repayments, redraw, and offset accounts.
- Split loans combine the two, giving you stability on one portion and flexibility on the other.
Each loan has pros and cons. We help you decide based on your goals, whether you’re planning to renovate, flip, rent it out, or stay long term.
Why Use a Mortgage Broker in Perth?
When you go straight to a bank, you’re limited to one lender’s rules, products and rates. As an independent mortgage broker, we shop your application to multiple banks and lenders, finding you the most competitive options and features.
We also:
- Handle the paperwork and documentation for a smooth application
- Pre-empt lender red flags that could delay or block your approval
- Negotiate on your behalf and explain everything in plain English
- Guide you from pre-approval to settlement — and beyond
Whether your situation is straightforward or a little more complex (like self-employment or low deposit), we know how to structure your application for success.
Not sure how brokers work? Here’s a breakdown
Where in Perth Do We Work?
Everywhere. We help clients all across the Perth metro area, from the CBD and inner-city suburbs to outer growth corridors. Whether you’re house-hunting in Canning Vale, refinancing in Joondalup, or investing in Fremantle, we bring deep local knowledge and tailored advice to your suburb and situation.
We’re based in WA, and proud to be part of the Perth community. That means we understand local property trends, price movements, and what lenders expect when assessing homes in different postcodes.
Let’s Take the Stress Out of Home Loans
At Strategic Mortgages Perth, we believe getting a home loan should feel empowering, not overwhelming. We’re here to cut through the confusion, explain your options clearly, and help you make decisions with confidence.
Whether you’re buying, refinancing, or investing, we’ll tailor a solution that works for you now and in the future — no cookie-cutter advice, no bank bias, just practical guidance that puts your goals first.
Book your free strategy call and let’s get started.
