Question 1

What is a mortgage and finance broker and how can Jokuda help me?

Accepted Answer

A mortgage and finance broker acts as an intermediary between you and lenders, comparing home loans and other finance products from multiple banks and financial institutions. Jokuda is a licensed broker (ACL 573020) comparing home loans and finance products from 50+ Australian lenders. We do the searching, then walk you through your best matches and why they fit. We handle the paperwork, negotiate rates, and guide you through the entire home loan process.

Question 2

What actually happens after I submit the form?

Accepted Answer

Three things, in order: you sign a privacy consent so we're allowed to work on your behalf, we have a proper conversation about your situation (a fact-find — required for licensed advice, and the reason our recommendations actually fit), and then we show you your best matches from 50+ lenders and explain why each one made the list. No lender application is made until you decide to go ahead.

Question 3

How much deposit do I need for a home loan in Australia?

Accepted Answer

Most Australian lenders require a minimum 5-20% deposit for home loans. With a 20% deposit, you can avoid Lenders Mortgage Insurance (LMI). First home buyers may qualify for government schemes allowing deposits as low as 5% or even 2% in some cases. Use our Borrowing Power Calculator to determine how much you can borrow based on your deposit.

Question 4

What are current home loan interest rates in Australia?

Accepted Answer

Home loan interest rates in Australia vary depending on the lender, loan type (fixed or variable), and your financial situation. Jokuda compares rates from 50+ lenders including major banks and specialist lenders to find you the most competitive rate. Rates change regularly based on RBA cash rate decisions — you can see current lender rates side by side on our Compare Rates page.

Question 5

How does Jokuda get paid?

Accepted Answer

Jokuda receives a commission from the lender when your loan settles — this is standard across the mortgage broking industry in Australia. We may also charge a broker fee depending on the complexity of your application. All fees are disclosed upfront before you commit, so there are no surprises. You get expert advice, comparison across 50+ lenders, and full support throughout your application.

Question 6

How long does home loan approval take?

Accepted Answer

It depends on the lender and how complete your application is. Formal approval typically takes 3-5 business days for straightforward applications; complex cases can take 1-2 weeks. Our job is to get your application complete and matched to the right lender the first time, which is where most delays are avoided.

Question 7

What's the difference between fixed and variable home loan rates?

Accepted Answer

Fixed rate home loans lock in your interest rate for a set period (typically 1-5 years), providing payment certainty. Variable rate home loans fluctuate with market changes and RBA decisions, but often offer more flexibility with features like offset accounts and unlimited extra repayments. Many borrowers choose a split loan combining both. Our mortgage and finance brokers can help you decide what's best for your situation.

Question 8

How much can I borrow for a home loan?

Accepted Answer

Your borrowing capacity depends on your income, expenses, existing debts, employment status, and deposit size. Most Australian lenders will lend 5-6 times your annual income, but this varies. Use our Borrowing Power Calculator to get an instant estimate, or speak with one of our mortgage and finance brokers for a detailed assessment based on your specific circumstances.

Question 9

Can I refinance my existing home loan to get a better rate?

Accepted Answer

Refinancing can help you secure a lower interest rate, access equity, or consolidate debts. If your current rate is more than 0.3-0.5% higher than available rates, refinancing could save you thousands. Our refinancing calculator shows your potential savings. Jokuda's mortgage and finance brokers compare refinancing options across 50+ lenders and handle the entire process for you.

Question 10

What documents do I need to apply for a home loan?

Accepted Answer

You'll typically need: proof of identity (driver's license, passport), proof of income (payslips, tax returns), bank statements (3-6 months), details of assets and liabilities, and information about the property you're purchasing. Self-employed applicants need additional documentation. Our mortgage and finance brokers provide a complete checklist and help you prepare everything needed for a smooth application.

Question 11

Does checking my credit score affect my home loan application?

Accepted Answer

Checking your own credit score through Jokuda does NOT impact your credit file - it's a soft inquiry. However, multiple formal loan applications create hard inquiries which can lower your score. This is why using a mortgage and finance broker is beneficial - we assess your situation first and submit applications strategically to lenders most likely to approve, protecting your credit score.

Everyone is different. Let's find the loan that fits.

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