We understand that when exploring a new product, service, or topic, questions often arise. That's why we have compiled a
comprehensive list of commonly asked questions to provide you with the information you need.
Whether you're a first-time visitor to Smart Mortgage & Lending, or a returning user, our FAQ section aims to address your
inquiries and assist you in finding the solutions you seek. Browse through our curated selection of frequently asked questions to gain
valuable insights and make informed decisions.
What is an offset account?
When considering a mortgage, it's advisable to research different lenders and their product offerings to determine if they provide offset
accounts as an option.
Several costs come with refinancing a home loan, although some of these costs are added to your new mortgage. You can get a
rough estimate of the cost to refinance your mortgage by using a refinance calculator, or engaging a mortgage broker.
On settlement day, it's important to consider tasks such as reviewing the final settlement statement, ensuring funds are available for
the down payment and closing costs, and conducting a final inspection of the property before completing the purchase.
Lenders Mortgage Insurance (LMI) is a form of insurance that protects the lender in case a borrower defaults on their home loan, typically
required when the borrower's deposit is less than 20% of the property's value.
Construction loans are a type of financing specifically designed to fund the construction or renovation of a property, providing borrowers
with the necessary funds in stages as the construction progresses.