Everything you need to know about loans & finance
FAQs
General finance broking questions
What does a finance broker do, and why should I use one?
A finance broker acts as your personal loan expert, helping you secure the best loan for your situation. Unlike banks, which only offer their own products, we compare 40+ lenders to find the best rate, loan structure, and terms for you.
Working with OpenCorp means:
- More choice – We access a wide range of lenders, not just one bank.
- Better rates – We negotiate on your behalf to secure competitive deals.
- Loan structuring for the future – We ensure your finance supports your long-term goals.
- No cost to you – Our service is free because we’re paid by the lender.
How much can I borrow?
Your borrowing power depends on your income, existing debts, living expenses, and credit history. As a general rule:
- Owner-occupiers can typically borrow 5-6 times their annual income.
- Investors can leverage rental income to boost their borrowing power.
We run detailed assessments to determine exactly how much you can borrow—and how to structure your loan to maximise your borrowing capacity.
What types of loans does OpenCorp help with?
We provide finance solutions for:
- Home Buyers – First-time buyers, next home buyers, and guarantor loans.
- Property Investors – Loans structured for portfolio growth & tax efficiency.
- Construction & Renovation Loans – Finance to build, renovate, or develop with progress payments structured for cash flow.
- Self-Employed Borrowers – Lo-Doc loans for business owners and freelancers.
- SMSF Loans – Borrowing through a Self-Managed Super Fund for property investment.
- Professional Loans – Specialised lending for medical professionals, athletes, and busy professionals.
- Refinancing – Lower rates, better terms, and equity access for investment.
How much do I have to pay for your service?
Home loan & investment loan
What’s the difference between an owner-occupier loan and an investment loan?
- Owner-occupier loans are for people buying a home to live in. They typically offer lower interest rates and may have incentives for first-home buyers.
- Investment loans are for properties purchased to generate rental income. These loans may have different repayment structures, tax benefits, and lending criteria.
We help you choose the right loan type and structure it to maximise cash flow and tax efficiency.
Should I choose a fixed or variable rate loan?
It depends on your financial goals:
- Fixed Rate: Predictable repayments, protected from interest rate rises.
- Variable Rate: More flexibility, potential savings if rates drop.
- Split Loan: A mix of both—stability plus flexibility.
We assess your situation and recommend the best option based on your strategy.
How can I use my home’s equity to invest in property?
If your home or investment property has increased in value, you may be able to access the equity to fund your next investment—without using cash.
We assess how much equity you can release and structure the loan to keep your borrowing power strong for future investments.
Can I get a home or investment loan if I’m self-employed?
- BAS statements
- Business bank statements
- Accountant declarations
Refinancing
How do I know if I should refinance?
If you haven’t reviewed your loan in over 12 months, you could be missing out on:
- Lower interest rates
- Reduced repayments
- Access to equity for investment or renovations
- Debt consolidation options
A quick loan review will tell you whether refinancing makes sense.
Can I refinance my loan if I have bad credit?
Yes. Some lenders specialise in helping borrowers with credit issues. We assess your financial position and match you with a lender that suits your situation.
How long does it take to get loan approval?
It depends on the lender, but with the right paperwork, we can get formal approvals sorted in as little as 48 hours. The key? Getting your documents sorted early—and that’s where we help.
Make sure your loan works for you
Finance should be simple, strategic, and tailored to your goals. Whether you’re buying, investing, or refinancing, we ensure your loan is structured to maximise savings and long-term financial success.