If you’re buying a home, refinancing, or building a property portfolio, one of the most common questions we hear is: “What should I actually tell my mortgage broker?” It’s a fair question. For most people, talking about money, debt, and financial goals with someone new can feel a little uncomfortable. But here’s the truth: the more open and honest you are with your broker, the better the outcome will be for you.
At Awesome Lending Solutions, we’ve helped Australians settle more than 1,000 home loans since 2010. In that time, we’ve learned that the clients who get the best results are the ones who share the full picture from day one. Below, we’ll walk you through exactly what to tell your broker, what you don’t need to worry about, and a few common mistakes to avoid.
Why Honesty With Your Broker Really Matters
A good mortgage broker isn’t just there to find you a loan. We compare products from more than 60 lenders, explain your borrowing capacity in plain English, and guide you through the entire application and settlement process. Banks can only offer you their own products. As brokers, we can look much wider, matching your situation to a lender who is actually likely to say yes.
But we can only do that properly if we understand your full financial position. Leaving out details, even ones that feel embarrassing, can lead to loan applications being rejected, delayed, or matched to the wrong lender entirely. Being upfront saves you time, stress, and often money.
What You SHOULD Tell Your Broker
1. Your income and employment situation
This includes your salary, any bonuses or commission, overtime, side income, and how long you’ve been in your current role. If you’re self-employed, casual, or a contractor, tell us early. There are lenders who specialise in these situations, but only if we know to look for them.
2. Your full list of debts
Credit cards, personal loans, car loans, “buy now, pay later” accounts, and any existing home loans all affect your borrowing power. Even if a card has a zero balance, lenders still count the credit limit. It’s far better for us to know this upfront than to have it show up later in a credit check.
3. Your savings and deposit
Tell us exactly how much you have saved, where it’s come from, and whether any of it is a gift from family. This affects which loan products and government schemes you may be eligible for, including the First Home Guarantee or the Single Parent 5% deposit scheme.
4. Your credit history
If you’ve missed a payment, had a default, or been through a tough financial period, let us know. It’s far easier to work around a credit issue when we know about it in advance, rather than have it surface unexpectedly during the application.
5. Your life plans
Are you planning to start a family, change careers, go part-time, or relocate in the next few years? These life changes can affect how much you can borrow and what kind of loan structure suits you. A loan that works today but causes stress in three years isn’t the right fit.
6. Your long-term goals
Do you want to buy one home and stay there, or are you hoping to build a property portfolio down the track? Are you a single parent looking for extra support, or a first home buyer wanting the simplest path possible? Understanding your goals allows us to recommend a lending strategy that supports where you want to be in five or ten years, not just where you are today.
What You DON’T Need to Worry About
Feeling judged. Brokers see every kind of financial situation, from picture-perfect to messy. There is no need to feel embarrassed about debt, past credit issues, or a lower deposit than you’d like. Our job is to help, not to judge.
Oversharing irrelevant details. You don’t need to explain every small purchase or justify your spending habits. What matters is the overall picture: income, debts, savings, and goals. Save the detailed budgeting conversation for once we’ve mapped out your strategy together.
Trying to “look good” on paper. Some people are tempted to leave out a debt or round up their income to appear more attractive to a lender. This almost always backfires. Lenders verify income and check credit files, so it’s far better to be upfront and let us find the right lender for your real situation.
Common Loan Application Mistakes to Avoid
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- Not mentioning other debts or loans, assuming they won’t be checked
- Applying with multiple lenders yourself, which can affect your credit score
- Making big purchases or opening new credit while your loan is being assessed
- Changing jobs in the middle of the loan process without telling your broker
- Waiting too long to get advice, rather than reaching out early to understand what’s realistically achievable
Why a Personalised Lending Strategy Makes the Difference
No two clients at Awesome Lending Solutions are the same, and we don’t believe in one-size-fits-all advice. Whether you’re a first home buyer trying to get into the market, a single parent looking for extra guidance and support, or a property investor building long-term wealth, we take the time to understand your full situation before recommending anything.
Our process starts with a free, no-obligation consultation to understand your income, goals, and timeline. From there, we research and compare loan options across our panel of 60+ lenders, manage the entire application and approval process on your behalf, and stay in touch well beyond settlement day to make sure your loan continues to work for you as your life changes.
This is what personalised lending advice looks like in practice: not just finding you any loan, but finding the right loan, structured the right way, based on the real details you’ve shared with us. It’s also why so many of our clients come back to us for their next property, and refer friends and family along the way.
Frequently Asked Questions
Do I have to tell my broker about a bad credit history?
Yes. It’s much better for us to know upfront so we can find a lender who is likely to approve your loan, rather than have an issue discovered partway through the process.
Will my broker judge me for having a lot of debt?
No. We work with clients in all kinds of financial situations. Our role is to understand your full picture and find a realistic path forward, not to judge your past decisions.
Is it okay to talk to more than one mortgage broker?
It’s understandable to want to compare, but keep in mind that multiple loan applications submitted around the same time can affect your credit score. A conversation with a broker first, before any formal application, is a safer way to compare your options.
What if I’m not sure I’m ready to buy yet?
That’s completely fine. A big part of what we do is helping people understand where they stand today and what steps will get them ready, even if that’s still a year or two away.
Ready to Talk Through Your Situation?
Whether you’re just starting to explore your options or ready to move forward with a purchase or refinance, the best first step is an honest conversation. The more we know, the better we can help.
Get in touch with Awesome Lending Solutions today for a free, no-obligation consultation, and let’s build a lending strategy that’s tailored to you.