Buying your first home is an exciting milestone — but understanding the finance process can feel overwhelming.
At The Broker Team, we help Bendigo first home buyers understand their options, compare lenders and secure a home loan that suits their situation.
From working out how much you can borrow through to loan approval and settlement, our team will guide you every step of the way.
Speak with a mortgage broker in Bendigo today and take the first step towards your first home.
How We Help First Home Buyers
Buying your first home involves more than just finding a property — it’s about making informed decisions with your finance.
We help Bendigo first home buyers:
- understand how much they may be able to borrow
- work out how much deposit is required
- navigate government grants and incentives
- compare home loan options across multiple lenders
- structure their loan to suit their long-term goals
Our goal is to make the process clear, simple and manageable from the beginning.
While purchasing your first home may seem daunting, it’s often simpler than most people think.
The amount of deposit required can vary depending on the lender and your situation.
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.
Don’t have a deposit? Learn how you can still buy your first home with zero deposit and avoid paying Lenders Mortgage Insurance (LMI).
Learn how below:
Use our Deposit Calculator to estimate how much you will need to contribute to your new home.
One of the first questions most buyers ask is:
“How much can I borrow?”
Your borrowing capacity depends on several factors, including:
- your income
- your living expenses
- existing debts
- your deposit
- your credit history
We will assess your situation and give you a clear understanding of your borrowing capacity so you can search for property with confidence.
Try our free online borrowing power calculator to estimate how much you may be able to borrow.
A pre-approval is a great first step in the homebuying process. This provide a clear picture of your purchasing power before you start making offers to buy a house.
Essentially, it’s a preliminary assessment from a bank or lender indicating how much you can borrow based on your financial situation.
A home loan pre-approval puts you in a stronger position when entering the property market. It shows sellers you’re a serious buyer with finance already assessed, which can give you an advantage in competitive situations. It also helps narrow your search to properties within your price range and can speed up the final approval once you’ve found the right home.
Beyond that, pre-approval provides clarity around your borrowing capacity and expected costs, helping you budget with confidence and move through the buying process with less uncertainty.
Having a clear understanding of your borrowing power mean you bid on properties with confidence. Getting pre-qualified can also save time once you have found your perfect home.
The Broker Team Bendigo will do a full assessment of your financial position, along with your specific goals and objectives. We will review income and expenses and do credit checks to ensure we recommend the appropriate lenders.
Pre-approvals are typically valid for 60-90 days, but this can vary by lender. The Broker Team can also provide a full pre-assessment and time your application to suit your specific timeframes.
No, a pre-approval does guarantee that you will be approved for the loan. It simply provides confort in your borrowing capacity. Other factors still remain like property type, land size and valuations.
More questions?
Speak with one of our Brokers, we’ll be happy to help.
A strong credit history plays an important role in securing a home loan. While some lenders cater to borrowers with impaired credit, this often results in higher interest rates, larger deposit requirements, and a more limited choice of lenders.
Your credit score is another key factor. It’s calculated by credit reporting agencies and is commonly used by lenders when assessing your application.
These agencies don’t just assign a score — they also track your financial behaviour, including previous credit enquiries, repayment history, and existing credit limits, all of which can influence a lender’s decision.
The Broker Team will check your credit score before making any recommendations for a home loan.
As a first home buyer, there are a number of government incentives available to help you get into the property market sooner.
You may be eligible for the First Home Owner Grant (FHOG), which provides financial support to assist with your purchase.
There are also stamp duty concessions that can significantly reduce your upfront costs, saving you thousands.
If you’re buying in a regional area, the Regional First Home Buyer Guarantee may allow you to purchase with a smaller deposit and avoid lenders mortgage insurance.
Our role is to guide you through these options, so you can take advantage of every benefit available and move into your first home with confidence.
Head to our Government Grants & Incentives page to fidn out whats currently available to first home buyers
