6 Things Every Mortgage Broker Wishes You Knew Before Your First Loan

There’s a lot to learn when you’re buying your first home, and even more you wish you’d known earlier. As mortgage brokers who’ve helped hundreds of first home buyers across Melbourne, here are six truths we wish every buyer knew before they started the loan journey.

Let’s save you time, stress — and possibly thousands of dollars.

1. 🏦 Your Bank Probably Isn’t the Best Option

We see this all the time — someone gets excited, walks into their bank, and walks out thinking they’ve got the best deal.

But here’s the truth:

• Your bank only shows you their loans

• They won’t tell you if someone else has a better rate

• You could be missing out on key features like offset or better repayment options

A mortgage broker compares 30+ lenders. That’s a lot more choice.

2. 🧾 Your Everyday Spending Matters

Lenders go through your bank statements with a fine-tooth comb. That $400 a month in Uber Eats? It’s being factored in.

We help you:

• Clean up your spending before applying

• Understand how expenses affect your borrowing power

• Set up a budget that improves your position

3. ⏳ Pre-Approval Isn’t Final Approval

Pre-approval is great, but it’s not a guarantee.

Your lender still needs to:

• Value the property you’re buying

• Re-check your income and savings

• Make sure nothing major changed since you applied

That’s why we always keep in touch throughout the process — so you don’t get caught off guard.

4. 🏡 You Don’t Need a 20% Deposit

There are heaps of options:

• First Home Guarantee (5% deposit, no LMI)

• Guarantor loans

• Low deposit loans with LMI

We help you compare all the paths to owning your place sooner.

5. 💼 Not All Brokers Are Created Equal

Some brokers are tied to certain banks. Some don’t explain things clearly. Some disappear after approval.

At Nude Home Loans, we:

• Are fully independent

• Talk like real people (no jargon)

• Stick with you from start to settlement — and beyond

6. 🧠 Strategy Beats Speed

Yes, you want to get into the market. But rushing into a random loan can cost you tens of thousands.

We build your strategy around:

• What’s realistic for your budget

• What grants you’re eligible for

• Where you want to be in 5–10 years

It’s not just about a loan. It’s about making your money work smarter.

✅ Want the Home Loan Journey to Be Less Confusing?

We’ve got you.

Nude Home Loans is Melbourne’s no-fluff mortgage broker for first home buyers.

👉 [Book your strategy chat with us today]