Is it really complimentary? How do you get paid?+
Yes — our service is complimentary to you. Mortgage brokers are paid a commission by the lender when your loan settles. This means you receive expert advice, access to 40+ lenders, and a fully managed application process at no cost to you. We're legally required to act in your best interests, so our recommendations are always based on finding the right loan for your situation — not whichever lender pays the most.
How much deposit do I need to buy a home in Melbourne?+
Most lenders require a minimum 5% deposit, though some accept as little as 2% in certain circumstances. If your deposit is less than 20%, you'll typically need to pay Lenders Mortgage Insurance (LMI). For first home buyers in Victoria, you may be eligible for the First Home Owner Grant ($10,000 for new homes) and stamp duty concessions on properties up to $750,000. We can help you understand exactly what you need based on your specific situation.
Will enquiring affect my credit score?+
No. Speaking with a mortgage broker and getting an initial assessment does not affect your credit score. A credit enquiry is only recorded when a formal loan application is submitted to a lender. At Mocha Finance, we do our research and recommend the right lender before submitting any applications — which actually helps protect your credit score by avoiding unnecessary enquiries.
I've already got a broker or bank — can I still chat?+
Absolutely. There's no obligation, and a second opinion can be valuable. Many of our clients come to us after being with another broker or their bank for years. We can review your current loan and let you know if there may be a more suitable option available — often clients are surprised by how much they could potentially save.
How long does the whole process take?+
From initial consultation to settlement, the process typically takes 4 to 8 weeks, depending on the complexity of your situation and the lender's processing times. Simple refinances can sometimes be faster. We manage the entire process for you — from document collection through to settlement — and keep you updated at every step so there are no surprises.
What documents will I need?+
The typical documents required include: proof of identity (driver's licence, passport), proof of income (recent payslips, tax returns for self-employed), bank statements (usually last 3 months of savings and transaction accounts), proof of assets and liabilities, and details of the property you're purchasing or refinancing. We provide a clear checklist tailored to your situation so you know exactly what's needed upfront.
Do you only work with first home buyers?+
Not at all. While we love helping first home buyers, we work with clients across all stages of their property journey — refinancing existing loans, purchasing investment properties, consolidating debt, releasing equity, and even SMSF property lending. Whatever your situation, we compare options across 40+ lenders to find the right fit.
Can I get a home loan if I'm self-employed?+
Yes. Self-employed borrowers have excellent lending options available, including both traditional full-doc loans (using tax returns) and low-doc alternatives. Some lenders specialise in self-employed lending and may accept alternative income verification such as BAS statements or accountant declarations. We have experience structuring loans for self-employed clients and know which lenders are most flexible with different types of income.
What is refinancing and is it worth it?+
Refinancing means replacing your current home loan with a new one — either with your existing lender or a different one. It can be worth considering if: interest rates have changed since you took out your loan, your financial situation has improved, you want to access equity in your home, or you want to consolidate other debts. We can do a quick comparison to see if refinancing may benefit you — there's no obligation and no cost to find out.
How many lenders does Mocha Finance compare?+
We compare options across a panel of 40+ lenders, including major banks, smaller banks, credit unions, and specialist non-bank lenders. This gives us access to a wide range of products for different situations — from straightforward purchases to complex self-employed or investment lending. We're not tied to any single lender, so our recommendations are based on what may suit you best.
What areas do you service?+
While we're based in Melbourne's south-east, we help clients across all of Melbourne and throughout Australia. Most of our consultations are conducted via phone, video call, or over a coffee at one of our partner cafés. Whether you're in Dandenong, the CBD, or regional Victoria, we can help.
What is Lenders Mortgage Insurance (LMI)?+
Lenders Mortgage Insurance (LMI) is a one-off insurance premium that protects the lender if you default on your loan. It's typically required when your deposit is less than 20% of the property's value. LMI can often be added to your loan amount so you don't need to pay it upfront. Some lenders offer LMI waivers for certain professions (such as doctors, lawyers, and accountants). We can help you understand whether LMI applies to your situation and explore options to minimise or avoid it.
What is equity and how can I use it?+
Equity is the difference between your property's current market value and what you still owe on your mortgage. For example, if your home is worth $800,000 and you owe $500,000, you have $300,000 in equity. You can access this equity to fund renovations, purchase an investment property, consolidate debts, or for other financial goals. We can help you understand how much usable equity you may have and the best way to access it.
What is debt consolidation and how does it work?+
Debt consolidation involves combining multiple debts — such as credit cards, personal loans, or car loans — into your home loan. Because home loan interest rates are typically much lower than other forms of credit, this may reduce your overall interest costs and simplify your repayments into a single monthly payment. However, it's important to understand that extending short-term debts over a longer mortgage term can mean paying more interest overall. We'll walk you through the numbers so you can make an informed decision.
What first home buyer grants are available in Victoria?+
Victoria offers several benefits for first home buyers: the First Home Owner Grant (FHOG) of $10,000 for new homes valued up to $750,000; stamp duty exemptions for properties up to $600,000; stamp duty concessions for properties between $600,000 and $750,000; and the First Home Buyer Guarantee scheme (through the federal government) which allows eligible buyers to purchase with as little as 5% deposit without paying LMI. Eligibility criteria apply to each scheme. We'll help you understand which benefits you may qualify for.
How is Mocha Finance different from other mortgage brokers?+
Mocha Finance is built around genuine relationships, not transactions. We believe getting a home loan should be as smooth as your morning coffee — calm, clear, and stress-free. What sets us apart: personalised service from an experienced broker (not a call centre), access to 40+ lenders, a thorough approach to finding the right loan (not just the cheapest rate), and our unique café partnership model where we meet clients in welcoming, relaxed environments. We're also proud to be 5-star rated on Google.