Our mortgage brokers for Melbourne borrowers

Choosing to work with one of our mortgage experts will provide you with a whole slew of different property buying benefits, including:

• Getting to compare multiple financial product options and comparison rates from our panel of different lenders, as opposed to only getting a look at one lender’s home loans
• Ongoing support and expert guidance through the whole application process, and keeping you informed every step of the way
• Help you to understand how different loan features, such as extra repayments, offset accounts and redraw options, can affect your home loan size, mortgage repayments and long term costs
• Guide you in choosing your loan term, whether that’s a 30-year loan to reduce monthly repayments or a shorter term to pay less interest overall
• Competitive rates and fast loan approvals as your broker does the comparing, negotiating, and follow-ups with lenders on your behalf. on your behalf.
• A less nerve-wracking homebuying journey, with us handling the lending paperwork and processes on your behalf

And what’s more, we don’t charge you a thing for any of this!

It’s 100% free to enlist the services of one of our mortgage brokers! You’ll already have enough in the way of upfront homebuying costs to deal with, like conveyancing fees and your payable stamp duty— let the lender worry about paying us.

Generally speaking, mortgage brokers in Australia (not just in Melbourne) are paid a commission by the lender, rather than you having to pay them a fee for their services. This commission is typically paid upon the successful settlement of a loan that the broker facilitated on your behalf. In addition, brokers may receive a smaller ongoing (trail) commission each year based on your remaining loan balance.

But because our team of expert mortgage brokers are all salaried Compare the Market employees, they don’t rely purely on commissions to make a living. That doesn’t mean our brokers don’t receive commissions, though. The broker who settles your home loan may also be eligible to receive a commission or incentive payment, and this may be based on the successful settling of your home loan or other performance criteria.

However, the important bit to remember is that you’ll never have to pay us a cent, leave that to us from the commission we receive from the lenders.

If you’re trying to find a home loan broker to help you, it may be worth asking your broker some questions to help you figure out if they’re right for you, including:

• What range of home loan providers do you work with?
• How do you get paid?
• What commission structure do you use?
• What is the recent loan approval rate?
• Why do you recommend particular products?
• How will you determine which home loan best suits my needs and financial situation?
• Can I make extra repayments, or access features like redraw or an offset account?
• What information will you need from me to start the home loan application?
• What additional costs should I plan for, like valuation or legal fees?
• How long does the loan approval usually take?
• How long does the whole process generally take from application to settlement?

All of our brokers have access to the same range of mortgage products. So no matter which one of our mortgage brokers you choose, you’ll get the same perks and a clear overview of all your options.

Depending on their buying circumstances, first home buyers in Victoria may be eligible for stamp duty concessions and/or grants such as Victoria’s First Home Owner Grant and the federal 5% Deposit Scheme, formerly called the First Home Guarantee (FHBG). Our expert mortgage brokers can help you access any government benefits you could be eligible for.

Our team of mortgage experts can help Melbourne borrowers understand and compare a range of home loan types throughout their real estate journey, including:

• Fixed rate home loans, which let you lock in your interest rate and repayment amount for up to five years, but may come with fewer optional features and extras
• Variable rate home loans, where the interest rate can move up or down in response to Reserve Bank of Australia (RBA) cash rate decisions and include features such as redraw facilities and offset accounts
• Interest-only home loans, which mean you repay just the interest for a set time, so while your repayments may be lower, your loan principal won’t reduce during that period. Interest-only home loans may suit investors, borrowers taking parental leave, or those building a home.
• Split-rate home loans, which divide your home loan into two separate accounts—generally one with a fixed interest rate and the other with a variable interest rate, giving you a mix of stability and flexibility.
• Investment home loans, designed exclusively for those who want to rent a property out rather than live in it themselves. Investment loans can be fixed rate, variable rate or split rate.
• Refinancing, which is switching your outstanding home loan amount to a different lender’s home loan product, often to secure a more competitive rate, better loan terms, or support a new property purchase.

Melbourne’s housing market continues to draw strong buyer interest, although price growth has been more moderate compared to other capitals like Sydney, Brisbane, and Adelaide.

According to the Cotality (CoreLogic) Home Value Index, Melbourne’s median dwelling value reached $826,132 in February 2026, marking a 4.7% annual increase.¹

As house prices have steadily risen, mortgage sizes in Victoria have also grown. Australian Bureau of Statistics (ABS) data shows that, as of December 2025, the average owner occupier mortgage in Victoria was $677,000.²
During the same period, the average loan size for investors in Victoria was $618,000.²

Over the past two calendar years, Compare the Market has helped thousands of customers look for a great deal.

The process of applying for a home loan is going to look largely the same regardless of where you are in Australia. However, you can take a lot of the required effort and time out of the equation if you decide to apply for your new home in Melbourne via one of our mortgage experts.

We’ll handle the paperwork and liaise with the lender on your behalf, which frees up more of your time for the things you’d rather be doing.