The broker you’d trust with your first home loan.
Three vetted Australian mortgage brokers who specialise in first home buyers. Free for you. Best Interests Duty by law.
Three steps. One free chat.
No sign-up, no spam, no pressure.
- 1Tell us about you.30 seconds. State, situation, contact.
- 2We match you to a broker.Based on your state and what you need help with.
- 3Free chat within 24 hours.No obligation. They’re paid by the lender, not you.
Built by first home buyers, for first home buyers.
$0 to you
Broker is paid by the lender, not you. Industry standard in Australia since the 2018 Royal Commission.
How brokers actually get paid →ASIC-licensed
Every NestPath broker holds an Australian Credit Licence and is an MFAA or FBAA member. Verify in 10 seconds.
Look them up on ASIC’s register →Best Interests Duty
Brokers must by law recommend the loan that’s right for you — not the one that pays them most. In effect since 1 Jan 2021.
Read the ASIC rules →
Real first home buyers.Real keys.
Hundreds of Australian first home buyers matched with one of our three vetted brokers — and into their first home — this year.
Three brokers we trust with our community.
Each one is a real human, licensed in Australia, and chosen because they treat first home buyers like people — not loan files.
I enjoy helping people buy the home they want and using all of my experience to leave more money in their pockets rather than giving it to the banks.
Laszlo — Independent Mortgage Broker
Being a first home buyer, there were many things I didn’t know. Orange was very detailed and attentive and made sure I understood the risk associated with each mortgage option before I made my decision.
Right from pre-approval, to finding the right property, to loan approval and settlement — Laszlo assisted us right through. I’d recommend him to anyone looking for a mortgage broker.
Most first home buyers think they need a 20% deposit. My favourite part of the job is telling them they don’t.
Suraj Chhatkuli — Mortgage Broker · First Home Guarantee specialist
His advice felt like it came from a trusted family member — honest, thoughtful, and always in our best interest. We never felt like just another application.
Knowledgeable, responsive, and made the entire process smooth and stress-free. He secured a great rate and explained everything clearly.
My support doesn’t stop at finding the right loan. From handling paperwork to securing approval, I’m here from start to finish to make the entire process seamless.
Sam Field — Mortgage Broker
Not sure which one is right for you?
What does a mortgage broker actually do?
A mortgage broker is a licensed credit professional who compares home loans across 30+ Australian lenders on your behalf, recommends the right loan for your situation, handles the paperwork, and liaises with the lender all the way through to settlement.
In Australia, every broker must hold an Australian Credit Licence (ACL) issued by ASIC or operate as a credit representative under one — and since January 2021 they are legally bound by the Best Interests Duty to recommend the loan that’s right for you, not the one that pays them the most commission.
How much does a mortgage broker cost? (Fees + commission, honestly)
Most mortgage brokers in Australia don’t charge you anything. They earn a commission from the lender when your loan settles — typically 0.5% to 0.7% of the loan amount upfront, plus an ongoing trail commission of around 0.15% per year for the life of the loan.
On a $500,000 home loan that means the broker earns roughly $2,500–$3,500 upfront and around $750 per year ongoing — paid by the lender, not by you. MFAA members are required to disclose these figures to you in writing under the MFAA Code of Practice.
Can mortgage brokers rip you off? The honest answer: before 2021, yes — a broker could steer you to a higher-commission lender even if a cheaper option existed. That changed with the Best Interests Duty (BID), enforced by ASIC. Brokers must now legally recommend the loan that’s right for you, not the one that pays them most. If you want to verify, ask any broker to disclose all commissions in writing — they’re required to.
Some brokers charge a fee for service in complex cases (self-employed, bad credit, commercial loans) — they must disclose this upfront. For standard first home buyer loans, the service should be completely free.
Mortgage broker vs bank — which is better for first home buyers?
A bank can only offer you their own products. A mortgage broker compares dozens of lenders to find the best rate and structure for your situation. According to the MFAA, around 70% of Australian home loans are now written through brokers. For first home buyers, this matters because:
- Access to 30+ lenders: Brokers compare rates from major banks, regional banks, credit unions, and non-bank lenders — many of which you’d never find on your own.
- HECS/HELP debt handling: Some lenders treat HECS more favourably than others. A broker knows which ones.
- Government scheme expertise: First Home Guarantee, state grants, stamp duty exemptions — a good broker navigates all of these for you.
- One credit enquiry, not many: The broker assesses your situation as a soft check and only submits one formal application — protecting your credit score.
The short answer: for first home buyers, a broker almost always gets you a better deal than walking into a single bank.
How to find (and choose) the right mortgage broker
Not all brokers are equal. Here’s a five-step vetting checklist before you commit to one:
- Verify their ACL. Every broker must hold an Australian Credit Licence or be a credit representative under one. Look them up on ASIC’s Professional Registers.
- Check MFAA or FBAA membership. Both are industry bodies that require ongoing education and a code of practice. Either is a strong trust signal.
- Ask for their lender panel. 25+ lenders minimum — and a reputable broker will email you the list without hesitation.
- Ask about first home buyer volume. How many FHBs have they helped in the last 12 months? You want someone who does this regularly, not occasionally.
- Test for plain-English communication. If they can’t explain LMI in one sentence, find someone else. If they push one specific lender hard, ask why.
NestPath matches you with brokers who’ve already cleared this checklist — for free. Fill in the form above and we’ll connect you with a vetted broker in your state.
For the full list of questions to ask at your first meeting and red flags to watch for, read our how to choose a mortgage broker guide.
Frequently asked questions
What does a mortgage broker do?
A mortgage broker is a licensed credit professional who compares home loans across 30+ lenders on your behalf, recommends the right loan for your situation, handles all the paperwork, and liaises with the lender through to settlement. In Australia, brokers must hold an Australian Credit Licence (ACL) issued by ASIC or operate as a credit representative under one, and most are members of the MFAA or FBAA.
Is using a mortgage broker free?
Yes — mortgage brokers are free for the borrower. Lenders pay the broker a commission when your loan settles, typically around 0.5% to 0.7% upfront plus a small ongoing trail commission. You pay zero fees directly. This has been the industry standard in Australia since the Royal Commission reforms, and the broker has a legal Best Interests Duty to recommend the loan that suits you, not the one that pays the highest commission.
How much commission does a mortgage broker make?
In Australia, a mortgage broker typically earns 0.5% to 0.7% of the loan amount as upfront commission (paid by the lender when the loan settles), plus around 0.15% per year as trail commission for the life of the loan. On a $500,000 home loan, that is roughly $2,500–$3,500 upfront and around $750 per year ongoing — paid by the lender, not by you. MFAA members must disclose all commission figures to you in writing.
What is a trail commission?
A trail commission is an ongoing payment from the lender to the broker, typically around 0.15% per year of the outstanding loan balance, paid for the life of the loan as long as the loan stays with that lender. It was originally designed to incentivise brokers to stay engaged with the borrower after settlement and discourage churning loans for upfront commission. It is paid by the lender, not added to your interest rate. Trail commissions are disclosed in your broker’s credit proposal.
Mortgage broker vs going direct to a bank — which is better?
Banks only offer their own products, while brokers compare loans across 30+ lenders to find the right fit for your situation. According to the MFAA, around 70% of Australian home loans are now written through brokers. The advantage with a broker is access to specialist lenders that don’t deal directly with the public, plus negotiation leverage on rates and fees. The trade-off is that brokers earn commission from lenders — which is why the Best Interests Duty was introduced in 2021. By law, brokers must recommend the loan that’s in your best interests, not the one that pays them the most.
Is it worth using a mortgage broker as a first home buyer?
Yes — first home buyers benefit most from a broker because you are navigating the First Home Guarantee scheme, stamp duty concessions, LMI thresholds, and state-based grants for the first time. These interact with loan choice in ways that can save or cost you tens of thousands. A first-home-buyer specialist broker handles the paperwork, compares 30+ lenders, and guides you through pre-approval, contract signing, and settlement. The service is free to you, so the only cost is the 15 minutes to fill in the form.
How long does mortgage approval take through a broker?
Conditional pre-approval through a broker typically takes 3 to 10 business days from when you supply your documents (payslips, ID, expense summary). Full unconditional approval after you have signed a contract usually takes another 7 to 21 business days. Brokers can often be faster than going directly to a bank because they choose lenders with shorter assessment queues and know which lenders are turning around applications quickly that month.
Does applying through a broker affect my credit score?
No — the broker assessing your situation and shortlisting loans is a soft enquiry and does not affect your credit score. Only the formal loan application itself triggers a hard credit enquiry, which the broker submits to a single chosen lender, not all 30+. This is one practical advantage of using a broker — you avoid multiple hard enquiries that can otherwise happen if you apply to several banks directly.
How many lenders can a broker access?
A typical Australian mortgage broker has access to 30 to 60+ lenders through their aggregator panel — covering the big four banks, regional banks, credit unions, non-bank lenders, and specialist first home buyer lenders. By contrast, your bank can only show you their own products. Ask any broker for their lender panel list — a reputable one will send it without hesitation, and 25+ is the minimum to look for.
How do I know my mortgage broker is licensed?
Every mortgage broker in Australia must hold an Australian Credit Licence (ACL) or operate as a credit representative under one. You can verify a broker’s status on ASIC’s Professional Registers — search for their name or company. Most reputable brokers are also members of the MFAA or FBAA, which require ongoing professional development and adherence to a code of practice. Look for an ACL number, MFAA or FBAA membership, and verifiable Google reviews. Avoid any broker who can’t or won’t show their license details.
What is the difference between MFAA and FBAA membership?
Both the Mortgage and Finance Association of Australia (MFAA) and the Finance Brokers Association of Australasia (FBAA) are professional bodies that require members to meet ongoing education standards, follow a code of practice, and submit to a complaints process. MFAA is the larger of the two and members must hold a Diploma of Finance and Mortgage Broking Management. FBAA has a slightly different code emphasis. Membership in either is a strong trust signal — most reputable Australian mortgage brokers belong to one.
What is the Best Interests Duty and how does it protect me?
The Best Interests Duty (BID) became law on 1 January 2021 and applies to all mortgage brokers in Australia. By law, brokers must act in their client’s best interests when providing credit assistance — meaning they must recommend the loan that’s right for you, not the one that pays them the most. ASIC enforces this duty. If a broker breaches BID, they can face penalties or licence suspension. This is a legal protection you don’t get when going directly to a bank, where staff are only obligated to recommend their own employer’s products.
Can a mortgage broker help me with the First Home Guarantee?
Yes. A mortgage broker can confirm your eligibility for the First Home Guarantee (FHBG), check which participating lenders have spots available (the scheme has annual caps), and guide you through the application. Not all lenders participate in the FHBG — a broker who works with multiple participating lenders can often find one with available spots faster than approaching banks individually. Brokers can also help with state-based grants like the First Home Owner Grant (FHOG) and stamp duty concessions, structuring your loan to maximise eligibility.
What questions should I ask a mortgage broker before choosing one?
Five worth asking: (1) What’s your ACL number and which industry body are you a member of — MFAA or FBAA? (2) How many lenders do you compare, and which ones? (3) How are you paid — by lenders, by me, or both — and will you disclose all commissions in writing? (4) Have you helped first home buyers in my state, and can you walk me through the FHBG and grants process? (5) What’s your typical response time during the application? A confident, transparent broker will answer all five clearly. Hesitation on any of them is a warning sign.
What’s the difference between independent, aggregator, and bank-aligned brokers?
Three broad models. Independent brokers operate under their own ACL and aren’t tied to any single lender or aggregator panel — most flexibility, smaller lender panels. Aggregator brokers operate as credit representatives under a larger group’s ACL (Connective, AFG, LMG and Finsure are the biggest Australian aggregators). They typically have access to 30-60 lenders and the aggregator handles compliance and back-office. Bank-aligned brokers are owned by or have exclusive arrangements with a specific bank — limited lender access, sometimes more favourable rates with that bank.
💡 Major Australian aggregators
Most NestPath partner brokers operate as credit representatives under one of the major Australian aggregators:
- Connective — Australia’s largest aggregator with 5,000+ brokers (ACL 389328)
- AFG — Australian Finance Group, 30+ years and 3,000+ brokers, 80+ lenders
- LMG — Loan Market Group, parent of the Loan Market consumer brand
- Finsure — gold-medal commission processing per MPA’s 2024 broker survey
Verify any broker’s accreditation via the MFAA aggregator directory.