Useful Links and Glossary

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Official links

• RevenueWA (First Home Owner Grant and transfer duty) The official WA source for the FHOG and first home owner duty.
• Keystart Home Loans The WA Government's low-deposit lender for eligible buyers.
• ASIC MoneySmart The regulator's free calculators and consumer guidance.
• APRA The banking regulator that sets serviceability standards.
• First Home Guarantee (Housing Australia) The federal low-deposit, no-LMI scheme for first home buyers.
• AFCA The free external dispute resolution scheme for financial services.
• ATO For tax questions such as negative gearing and depreciation (also speak to a registered tax agent).

Glossary of home loan terms

LVR

Loan-to-value ratio. Your loan amount as a percentage of the property value. A $640,000 loan on an $800,000 home is 80% LVR.

LMI

Lenders mortgage insurance. A one-off insurance cost that usually applies when you borrow more than 80% of the property value. It protects the lender, not you.

Serviceability

A lender's assessment of whether you can afford the repayments, based on your income, expenses and debts.

APRA buffer

Lenders must check you could still afford repayments at your actual rate plus 3%, a requirement set by APRA (the Australian Prudential Regulation Authority).

HEM

Household Expenditure Measure. A standard cost-of-living baseline lenders use. They apply HEM or your declared expenses, whichever is higher.

DTI

Debt-to-income ratio. Your total debt as a multiple of your gross income. Some lenders cap this around 6 to 7 times.

P&I

Principal and interest. Repayments that pay down the loan balance as well as the interest.

Interest-only

Repayments that cover only the interest for a set period and do not reduce the loan balance. Common on investment loans.

Offset account

A savings account linked to your loan. The balance is offset against your loan, reducing the interest charged.

Comparison rate

A single rate that includes most fees to help compare loans. By law it is based on a $150,000 loan over 25 years, which may not match your loan.

Pre-approval

A lender's conditional indication of how much it may lend you, so you can shop with confidence. It is not a final approval.

FHOG

First Home Owner Grant. A state-based grant, in WA worth $10,000 for eligible new homes.

External links are provided for convenience and we are not responsible for their content. Information here is general in nature and current as at June 2026. See our disclaimer.