Questions to ask
your mortgage broker
A good broker can save you thousands. But you need to ask the right questions to make sure the loan actually fits your situation.
Brokers work for you — but also for lenders
Mortgage brokers get paid commissions by lenders. Most are ethical and prioritize your interests — but not all recommendations are equal.
The right questions help you understand whether a loan genuinely suits your situation, or whether it's just the one that's easiest to settle.
This isn't about distrust. It's about being an informed participant in your own financial decision.
A home loan is a 25-30 year commitment. Asking questions now prevents regret later.
Your broker should welcome questions — they build trust.
What to ask before you commit
These questions help you understand your loan and make an informed decision.
About the Loan
- 1What is the total cost of this loan over its lifetime?
- 2What happens when the fixed rate period ends?
- 3Are there any fees I should know about (application, ongoing, exit)?
- 4What are the features — offset account, redraw, extra repayments?
About the Recommendation
- 1Why is this loan best for my situation specifically?
- 2What other options did you consider?
- 3How does this compare to what I could get directly?
- 4What are the downsides of this loan?
About the Broker
- 1How many lenders do you work with?
- 2Are you paid commission by the lender, and how much?
- 3Do you receive higher commissions from some lenders?
- 4What happens if I have issues after settlement?
About Your Situation
- 1What happens if interest rates rise by 2%?
- 2What if I need to sell or refinance early?
- 3How does this loan work with government schemes I qualify for?
- 4What should I avoid doing before settlement?
Red flags to watch for
Pressure to decide quickly
A good broker gives you time to think. If you're being rushed, that's a warning sign.
Reluctance to explain fees
If your broker can't clearly explain all fees and commissions, consider finding someone more transparent.
Only one option presented
A broker with access to many lenders should show you multiple options, not just one.
Finance is just one piece.
Get the full picture.
Before you talk to your broker, understand what you're buying. Our reports give you the property intelligence to make confident decisions.
Next steps
Continue with the full First Home Buyer Guide, check pricing, or get in touch.
This information is general in nature and is not financial advice. Always consult a licensed professional for advice specific to your situation. intelliprop does not provide mortgage broking services.