When Should I Speak to a Mortgage Broker?
The Ideal Timeline for First Home Buyers in Australia
Not sure when to speak to a mortgage broker? Learn why the best time is well before you're ready to buy. Discover the ideal timeline and how early planning can boost your borrowing power, reduce stress, and set you up for success.
If you’re buying your first home in Australia, one of the most common questions is:
When should I speak to a mortgage broker?
Many first home buyers think they need to wait until they’ve saved their full deposit, found a property, or are ready to apply for a loan. But waiting too long can actually cost you, in time, money, and missed opportunities.
We’ll unpack the ideal timeline for speaking to a broker, why early conversations are key to a confident home buying journey, and how a mortgage broker can guide your strategy from day one.
Why Timing Matters When Talking to a Mortgage Broker
In Episode 2 of First Home Unlocked, Jack Elliott and Chris Bates tackle a common first home buyer myth: That you should wait until you’re ready to buy before speaking to a broker.
The truth? The earlier you start the conversation, the better.
Talking to a broker 6–12 months before buying gives you time to:
Understand what’s possible
Identify potential roadblocks
Build a smart savings and credit strategy
Get organised without pressure
By preparing early, you can make clear and confident decisions instead of rushing through paperwork and financial stress once you’ve already found a property.
What Does a Mortgage Broker Actually Do?
A great mortgage broker doesn’t just compare interest rates. They act as your guide, strategist, and sounding board through the entire buying journey.
The right broker helps you:
🔑Understand your borrowing capacity across different banks and lenders
🔑Match your income and employment structure to the right lender policies for your situation
🔑Create a clear deposit and savings strategy tailored to your goals and timeline
🔑Map out your pre-approval and property plan so you know exactly what’s next
🔑Help you avoid costly mistakes like misjudging stamp duty, lenders mortgage insurance (LMI), or hidden loan fees
🔑Act as a sounding board, so you can talk through options, ask questions, and feel supported without pressure
Because this is your first time buying, there’s a lot you won’t know yet, and that’s completely normal. We’re not just here to talk loans. We help you understand what makes a quality home, how to make a confident offer, and how to think through the big picture, from timing to location to long-term value. No question is too small. We're here to help you feel clear, calm, and confident every step of the way.
The Ideal Timeline
12 Months Out (or Earlier)
Goal: Start planning strategically for your first home purchase.
What you’ll do:
Understand your borrowing capacity and what you could afford to buy
Review your credit score and financial position
Discuss your goals, income, and savings habits
Create a plan to build your deposit and cash buffers
Why it matters:
At this stage, you’re not applying yet; you’re gathering information and setting up a roadmap. This is when your broker can help you make a personalised plan based on your situation, so you don’t hit unexpected roadblocks later.
3–4 Months Out
Goal: Get pre-approval in place so you can start searching with confidence.
What you’ll do:
Finalise your documents and financials
Submit a formal pre-approval application. This gives you conditional approval from a lender, showing what you can borrow based on your current financial position.
Start attending open homes with a clear price range
Why it matters:
Pre-approval gives you the confidence to act quickly when the right property comes along. It also shows agents you’re serious and ready to make offers, which can give you an edge in a competitive market.
The best time to speak to a mortgage broker is well before you’re ready to buy. Ideally, that’s 12 months out.
Whether you’re just starting to dream about home ownership or actively saving, a broker can give you the clarity, structure and support to move forward with confidence.
Want more support?
Listen to Episode 2 of First Home Unlocked or a full walkthrough of when to talk to a broker.
Or if you're planning to buy your first home, book a Chat With Jack to build a strong strategy tailored to you.
