First Home Buyers
Let's help you into your first home
We work for you, not the banks so let’s help get you into your first home. The Broker Team has been helping local home buyers for over 15 years.
While purchasing your first home may seem daunting, it’s often simpler than most people think.
Saving for a deposit is a good first step, however knowing exactly how much you will need and the alternatives to saving a deposit, could help you into your home sooner.
You might even be able to buy sooner with a 0% deposit and pay no LMI!
Saving for a deposit can be difficult, but there are a few options out there that might help you into your new home sooner.
Guarantor loans
Gifts from family members
Stamp Duty Exemptions
If you have a family member who is willing to help (i.e. a parent), and that person has equity in property, then they may be able to offer what’s called a ‘security guarantee’. This type of guarantee allows you to borrow a small amount of money secured against their property to help pay for your deposit and purchase costs.
Several Government Grants and Schemes exist that can help you get into your first home, sooner.
Use our Deposit Calculator to estimate how much you will need to contribute to your new home.
A lender will assess your loan affordability and provide an estimate of your maximum borrowing amount. However, it is essential that you work out what you can afford and what repayments you are comfortable with.
Having a good understanding of your budget is essential in making good finance decisions. Start by measuring your income against your expenses. It is important to consider not only your income and expenses now, but what they will be after you have purchased your home and in the future.
Be realistic and don’t overcommit yourself. Give yourself a buffer as interest rates could go up increasing your loan repayments.
Try our free online borrowing power calculator to estimate how much you may be able to borrow.
Having good credit history is critical to getting a home loan. Even though there are lenders who do specialise in helping people with poor credit history, it does usually come at higher interest rates, higher deposits and fewer lenders to choose from.
Your credit score is also important to keep in check. Credit scores are calculated by credit reporting agencies and are one of the indicators a lender might use to assess an application.
Credit reporting agencies not only calculate your credit score, they also keep a record of past enquiries, repayment history and current credit limits.
A pre-approval is a crucial step in the homebuying process, providing you with a clear picture of your purchasing power before you start house hunting.
Essentially, it’s a preliminary assessment from a bank or lender indicating how much money you’re eligible to borrow based on your financial situation.
Having a pre-approval in hand gives you confidence and a competitive edge in the real estate market. Sellers often consider pre-approved buyers more seriously, as they have proof of their ability to secure financing. It streamlines your home search, allowing you to focus on properties within your budget, and it expedites the final loan approval process once you’ve found your dream home.
A pre-approval also helps you set realistic expectations, plan your budget effectively, and understand the costs involved in your home purchase, making the entire process smoother and stress-free home loan.
A pre-approval gives you a clear budget, helps you stand out as a serious buyer to sellers, and streamlines the homebuying process.
You’ll need to provide financial documents, such as income statements, credit history, and bank statements. When you chat with our team, we’ll let you know all the paperwork needed and submit it on your behalf.
Pre-approvals typically last for 60-90 days, but this can vary by lender.
No, a pre-approval is not a guarantee, but it’s a strong indicator of your eligibility for a mortgage.
It’s possible to bid at an auction without a pre-approval, but it’s not advisable. Many sellers prefer working with pre-approved buyers, and having one can strengthen your position in negotiations.
Speak with one of our Brokers, we’ll be happy to help.
As a first home buyer, you have access to a range of government grants and rebates designed to make your dream of owning a home a reality.
We’re here to empower you with the knowledge and resources you need to get into your first home, sooner.
Learn more about the First Home Owners Grant (FHOG), which offers financial assistance for eligible applicants.
Discover how you can benefit from significant Stamp Duty Concessions, helping you save thousands on upfront costs.
Explore the Regional First Home Buyer Guarantee, tailored to those looking to make a home in regional areas.
Head to our Government Grants & Incentives page to find out whats currently available to first home buyers
