Frequently Asked Questions

Home Loans

  • Your borrowing capacity depends on your income, expenses, deposit size, and credit history. At SagePath Finance, we help you assess your financial position and find lenders that match your borrowing goals—maximising your chances of approval with a competitive rate.

  • An offset account is a transaction account that’s linked to your home loan. The money in this account doesn’t earn interest—instead, it “offsets” your home loan balance, reducing the amount of interest you’re charged. Think of it as a savings account in reverse (saving interest, not earning interest).

    For example, if your home loan balance is $500,000 and you have $50,000 in your offset account, you’ll only be charged interest on $450,000. This can help reduce the total interest paid over the life of the loan and may help you pay off your loan sooner. It is like making extra repayments on your loan because more of your monthly repayment goes towards the principal. The money in it is accessible and the interest benefit is calculated daily.

  • A fixed-rate loan locks in your interest rate for a set period, offering certainty in repayments. A variable-rate loan can change with the market, offering flexibility and features like offset accounts. We help you weigh the pros and cons based on your financial goals.

  • Typically, you’ll need proof of income, ID, details of your assets and liabilities and statements on all your transactional and savings accounts. At SagePath Finance, we’ll guide you through every step and help you present your application in the strongest possible way.

  • We guide you through every step, from pre-approval to settlement, and help you understand government grants, stamp duty concessions, and loan options that suit your long-term goals.

  • Refinancing can reduce your repayments, shorten your loan term, or unlock equity for renovations or investments. Many lenders offer cashback deals and better rates—SagePath Finance helps you compare and decide with confidence.

  • LMI is a cost that protects the lender if you have less than a 20% deposit. You would need 20% plus stamp duty costs if applicable (stamp duty is not included in the purchase price). However, certain professionals—including doctors—may be eligible to borrow up to 90–95% without paying LMI. We’ll help you explore all your options.

  • Pre-approval can take 1-2 weeks, while formal approval is normally much quicker at 2-4 days depending on the lender. We manage the process closely to keep things moving smoothly and ensure we are meeting deadlines such as cooling-off and settlement periods.

Home Loans for Medical Professionals

  • In many cases, yes. Eligible medical professionals can borrow up to 90–95% of the property value without paying LMI. We’ll help you access these benefits where applicable.

  • Yes. Lenders understand the unique career paths of medicos. Even if you’ve recently transitioned to self-employment, we can help present your income in the best light to the right lenders.

  • Some banks require two years of financials, while others will accept just one year or even a combination of PAYG and contractor income. We’ll help navigate these policies to get your application approved.

  • Absolutely. We work with a wide range of lenders who provide finance for medical, dental, and other specialist equipment. We can tailor the structure to suit your practice's cash flow.

Asset & Equipment Finance

  • Often, yes. Dealership finance can be convenient, but it may come with hidden costs or higher rates. We help you compare asset finance options that could save you money and offer more flexibility.

  • Asset finance allows you to purchase vehicles, equipment, or machinery for personal or business use without tying up cash. The asset usually serves as security for the loan, and we offer options with fixed repayments, balloon payments, and tax benefits.

  • In most cases, yes. Equipment and vehicle finance can offer tax advantages, including depreciation and interest deductions. Always speak with your accountant—but we can structure the finance to suit.

  • Balloon or residual payments reduce your regular repayments by deferring a lump sum to the end of the term. This is ideal for businesses needing lower monthly outgoings or those who plan to upgrade equipment regularly.

Commercial Property Loans

  • Yes—self-managed super funds can be used to purchase commercial property under specific lending structures. We can work with your financial adviser to arrange compliant finance.

  • Commercial loans usually have shorter terms, higher interest rates, and different assessment criteria. SagePath Finance can help you navigate these differences and secure funding for your business or investment.

  • Most commercial lenders require 20–30% as a deposit. However, if you're buying premises for your business, some lenders offer more flexible terms. We’ll find the right structure for your goals.

  • Yes. Many business owners choose to buy their premises to build long-term wealth and stability. We can help you explore the benefits and secure funding through a range of commercial lenders.