Which Bank Is the Best to Get a Home Loan With?

If you’re buying your first home, you’re probably asking yourself:

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Which bank is the best for a home loan in Australia?

It’s a fair question—but the truth is, there’s no one-size-fits-all answer.
Different lenders suit different borrowers. One might offer the lowest rate. Another might approve your loan faster. A third might have better policies for low deposits or self-employed income.

This blog will break down the key differences between banks, mortgage brokers, and lender types—so you can make an informed decision about who to trust with your first home loan.

_{Should I Get a Home Loan Through a Bank or a Mortgage Broker?}

When applying for a home loan in Australia, you generally have two options:

• Go direct to a lender (usually a bank)
• Use a mortgage broker to compare and apply on your behalf

Both approaches can work—but they suit different types of buyers.

If you're a first home buyer, using a mortgage broker is often the simpler and smarter choice.

^{Pros and Cons of Going Direct to a Bank}

Going direct to a lender might feel straightforward—especially if you already bank with them. You might assume they’ll give you a better deal, or that your history with them will make the process easier.

But in reality, it can be limiting.

You’ll only see the products and policies of that one lender. If your application doesn’t fit their criteria, you might be declined—even if you would have qualified somewhere else.

You’ll also be handling everything yourself: paperwork, follow-ups, progress updates. If you’re working full time or unfamiliar with how banks assess loans, this can become stressful fast.

That’s not to say going direct is bad—it works well for people who:

• Have a strong understanding of lending policies
• Fit standard employment and income profiles
• Have time to manage the process

But most first home buyers don’t fit neatly into every lender’s box—and that’s where a broker can help.

How Mortgage Brokers Compare Lenders for You

Mortgage brokers act as a bridge between you and the banks.
We don’t just send off applications—we match your goals, income, and credit profile to a lender who suits you.

Here’s the difference:
A bank will tell you about their home loans.
A broker will tell you about all your options.

We work with over 30 lenders, including major banks, online lenders, and broker-only options that aren’t available to the public. This includes lenders who specialise in low-deposit loans, self-employed income, construction loans, or government schemes.

Real Example: Broker-Only Lender Helped a First Home Buyer Build Sooner

One of our first home buyer clients recently wanted to build a home while continuing to rent. That meant cash flow was tight, and making full loan repayments during the build was a problem.

We found a broker-only lender that offered no repayments for the first 12 months of the construction loan. It gave the client breathing room to manage rent and the build—something a major bank wouldn’t have offered.

Without a broker, this option wouldn’t have even been on their radar.

Which Type of Lender Is Right for You?

Here’s a simplified breakdown of lender types we deal with, and how you can access them:

Lender TypeBest ForAccessBig BanksBrand trust, full banking bundlesDirect & BrokerMid-Tier BanksCompetitive rates, more flexible policyDirect & BrokerOnline LendersFast applications, digital convenience, low overheadsDirect & BrokerBroker-Only LendersNiche lending: low doc, self-employed, constructionBroker Only

We compare all these lenders side-by-side for you and explain the pros and cons clearly—without any bias.

_{How Do I Know Which Lender Is the Best for Me?}

The “best” lender depends on your personal situation. Here are a few questions we ask to guide you:

• Are you using a low deposit?
• Are you eligible for any government schemes?
• Are you building, buying established, or buying off-the-plan?
• Are you employed full-time, casually, or self-employed?
• Do you need a fast approval or a flexible loan?

The answers to these questions can significantly change who your best lender is. A big bank might suit one borrower, while a smaller or specialist lender is better for another.

That’s why relying on a quick Google search or asking friends who they used isn’t always enough. Everyone’s situation is different.

Will a Mortgage Broker Cost Me More?

This is a common concern—but no, we don’t charge a fee to most clients.
Our service is free because we’re paid by the lender after your loan settles.

And since we deal with dozens of lenders, we’re not tied to just one. We’ll help you find the most suitable option—not the one that pays the most commission.

Are Mortgage Brokers Regulated?

Yes. Brokers are regulated under the same laws that govern banks.
We’re required to act in your best interests and meet strict compliance rules under the National Consumer Credit Protection Act (NCCP).

So when you work with a mortgage broker, you’re getting professional, legal, and transparent advice.

What’s the Easiest Way to Compare Home Loans?

It’s simple—speak with a mortgage broker.

Ready to Find the Right Home Loan for You?

You can spend hours trying to compare loans online, reading fine print, and submitting applications—only to get knocked back because of a small detail in the lender’s policy.

Or, you can speak with someone who does this every day, understands lender policies inside out, and can guide you through the process step-by-step.

If you're buying your first home, don't waste time chasing banks and comparing offers on your own.

Let us help you compare your options clearly, deal with the paperwork, and give you the confidence to move forward.

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👉 Apply online or book a chat today: Online Applications

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