How we make money

Whenever something is “free”, our natural instinct is to look for the catch. For home loans, this is even more important. We want you to understand what’s in it for us, before you choose to work with us.

Using Hihome costs you nothing, because the banks pay us directly if you get a loan through us. What we get paid varies. As an example, if you were to borrow $400,000, the bank would pay us $2,200, assuming a 0.55% commission. We believe in being fully transparent – so you can see exactly what we get paid from each bank below.

We never have, and never will make a recommendation based on what we get paid – that is not only unethical, but just bad business. We want to work with you, your friends and your family, now and in the future.

Current as of November 2018. Percentages shown below exclude GST.

  • how we make money
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  • 1. What's the benefit of me using Hihome?

    We help you find the right loan which achieves your goals, from over 40 banks. We’re completely independent and not beholden to any one bank. We only exist to help you win, and get you the loan that works for you.

    We do all the heavy lifting to find the right loans, discuss them with you, negotiate with the banks, and put together your loan application. We maximise the chance of approval for the loan you decide to go with.

    Since we work with you and understand your specific situation, we can help when your income or expenses might be a bit confusing on paper – if you’re a business owner, freelancer, or work in any job that doesn’t pay a fixed amount each month, we can help you work out your best options and get all the paperwork right.

    We don't make any money until you get the loan. It’s in our best interest to ensure your application is as perfect as it can be.

    After you get your loan, we’ll stay in touch with you since we’re here for the long term – think of us like your personal home loan adviser and assistant, which costs you nothing. ?

  • 2. Can’t I just go to my bank and apply directly?

    You sure can. But you lose out on the benefits of comparing over 900 loans to find the best one, instead of being restricted to the few loans your bank offers. We can also negotiate to get you even better rates where possible, and take care of the entire application process. Remember even a tiny difference in interest rates or lower fees can save you thousands of dollars over 30 years.

  • 3. Is it more expensive for me to use Hihome?

    Absolutely not. By using Hihome to apply for your loan, we can often get you even better rates than what you could get by going directly to your bank as we negotiate on your behalf. We start by showing you the lowest rates from over 40 lenders, and then, depending on your specific situation, we get some more info, do lots more research, and find the one best option. Then we negotiate to get you an even better rate, if possible.

    You never pay more than you would, by going directly to the bank, but you often end up paying a lot less - by going with a different bank, or paying a lower rate, or both! ?

Lender Name Upfront commission Trailing commission
Adelaide Bank 0.650% 0.150%
AMP 0.650% 0.170%
ANZ 0.650% 0.200%
Australian First Mortgage 0.650% 0.150%
Auswide Bank 0.700% 0.182%
Bank of Melbourne 0.650% 0.150%
Bank of Queensland 0.650% 0.220%
Bank SA 0.650% 0.150%
Bankwest 0.700% 0.200%
Better Choice Home Loans 0.700% 0.150%
Better Mortgage Management 0.650% 0.200%
Bluebay Home Loans 0.700% 0.150%
Bluestone 1.500% 0.245%
Citibank 0.650% 0.150%
Collins Home Loans 0.600% 0.200%
Commonwealth Bank 0.650% 0.200%
Connective HL Advantedge Essentials 0.700% 0.150%
Connective HL Macquarie Smart Options 0.650% 0.150%
Firefighters Mutual Bank 0.600% 0.200%
FirstMac 0.600% 0.150%
Gateway Bank 0.650% 0.200%
Heritage Bank 0.650% 0.250%
Homeloans Limited 0.700% 0.150%
HomeStart Finance 0.400% 0.150%
MyState 0.650% 0.170%
IMB Bank 0.600% 0.250%
ING 0.750% 0.200%
Keystart Home Loans 0.55% 0.11%
La Trobe Financial 0.500% 0.250%
Nab 0.650% 0.150% - 0.300%
Loan Ave 0.600% 0.150%
Macquarie Bank 0.650% 0.150%
ME Bank 0.650% 0.150%
Newcastle Permanent Building Society Limited 0.550% 0.180%
Paramount Mortgage Services 1.100% 0.22%
Pepper Money 0.730% 0.600%
St George Bank 0.650% 0.150%
Suncorp 0.500% 0.250%
Teachers Mutual Bank 0.600% 0.200%
UniBank 0.600% 0.200%
Virgin Money 0.600% 0.200%
Westpac 0.650% 0.150%
© Hi home Financial Pty Ltd ABN 67 627 814 073. Credit Representative 512228 is authorised under Australian Credit Licence 389328. This website provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.