Home Loans in Carnegie
Whether you’re buying your first home, upsizing the family, or adding to your portfolio, finding the right home loan comes down to more than just the rate. It comes down to who’s in your corner.
Karthik is a mortgage broker with access to 30+ lenders. He finds the loan that fits your situation – not just the one that’s easiest to approve.
A recent client story
Hisham and Pia Akhter from Oakleigh came to me after their bank knocked back their application. They had a 12% deposit and James was three months into a new job. I found a lender who assessed the application on the strength of their combined income and savings history rather than the employment start date. They settled on their first home six weeks later.
How it works
30 minute call
We start with a conversation. I’ll ask about what you’re looking to do, how you earn, and where your finances sit – enough to put together a rough picture of your borrowing capacity and what you’d need to settle. You’ll leave with a clear sense of what’s realistic before anything moves forward.
Get Documents
I’ll send you a short list of what I need – usually payslips or tax returns, ID, and any existing loan statements. Nothing excessive at this stage. Once I have them, I handle the legwork.
Find Options
I compare your situation across 30+ lenders and find the best fit for how you earn, what you owe, and which lenders are actually likely to approve. I’ll run you through the options before anything gets submitted.
Apply
Once you’re happy with the recommendation, I prepare and lodge the application. I stay across it until settlement and let you know if anything needs attention.
Who this suits
First home buyers – navigating your first purchase, government grants, and what you can actually borrow.
Upsizers – buying before you sell, bridging finance, or releasing equity from your current home.
Investors – interest-only loans, offset structures, and lenders who understand investment strategies.
Self-employed borrowers – lenders who look beyond a standard payslip. More on this on the self-employed page.
Common questions
How much can I borrow for a home loan in Melbourne? It depends on your income, expenses, and existing debts – but as a rough guide, most lenders will consider lending between 5 and 6 times your gross annual income. The best way to get a real number is a quick call. I can run a borrowing estimate on the spot with no credit check.
Do I need a 20% deposit? Not necessarily. Some lenders approve loans from as little as 5% deposit. Below 20%, Lenders Mortgage Insurance (LMI) usually applies – though there are government schemes that can let eligible buyers avoid it altogether. I can walk you through what’s available for your situation.
What government grants and schemes are available for first home buyers in Victoria? There are several worth knowing about. The First Home Owner Grant gives eligible buyers $10,000 toward a new build. The federal Home Guarantee Scheme lets you buy with 5% deposit and no LMI. The Victorian shared equity scheme contributes up to 25% of the purchase price for eligible buyers. Stamp duty exemptions also apply for properties under $600,000. Eligibility varies, so it pays to check before assuming you don’t qualify.
What is genuine savings and why does it matter? Genuine savings refers to funds you’ve built up yourself over time – regular deposits, term deposits, equity in another property. Lenders use it to assess financial discipline. Most lenders require at least 5% of the purchase price in genuine savings for loans above 80% LVR. Gifts from family can sometimes count, but the rules vary by lender.
How long does home loan approval take? A pre-approval can often be arranged within 24-48 hours once documents are in. Formal approval after making an offer typically takes 2-4 weeks depending on the lender and complexity of the application.
Fixed or variable – which is better? Fixed gives you certainty – same repayment for the fixed term regardless of rate movements. Variable gives you flexibility to make extra repayments and access offset and redraw features. A split loan covers both. The right choice depends on your priorities, not just the rate.
What’s an offset account and do I need one? An offset account is a transaction account linked to your loan. The balance reduces the interest you pay – so if you have $20,000 sitting in offset against a $500,000 loan, you’re only charged interest on $480,000. For most owner-occupiers, an offset account is worth having.
Why Loanset?
Karthik is an accredited mortgage broker operating under National Mortgage Brokers (NMB), Australian Credit Licence 391209, Credit Representative 556382. He works with a panel of 30+ lenders including major banks, regional lenders, and specialist financiers. Based in Carnegie, he meets clients in person, by phone, or via video.
I'm here to help
Whether you’re just starting to think about your options or ready to move – reach out.
Find a time that suits you below and let’s chat.
