First home buyer
Start your home ownership today with the help from our trusted team.
First home buyer finance is a suite of loan products and government incentives designed to help new-to-market buyers step onto the property ladder. The idea of this type of finance is that it is accessible and affordable.
Key Features:
- Deposit Requirements: First home buyers may access loans with lower deposit requirements, sometimes as little as 5% of the property value.
- Government Schemes: Various government incentives, such as First Home Owner Grants or stamp duty concessions, can reduce upfront costs.
- Loan Options: A range of mortgage products are available, including fixed-rate, variable-rate, and split-rate loans, catering to different financial situations and preferences.
- Lenders Mortgage Insurance (LMI): Required for deposits less than 20%, LMI protects the lender in case of default but adds to the loan’s cost.
Considerations:
- Affordability: Assess your budget to determine how much you can realistically afford to borrow without overstretching your finances.
- Additional Costs: Factor in other expenses associated with buying a home, such as conveyancing fees, building inspections, and moving costs.
- Interest Rates: Our job is to investigate the interest rates available and compare them across different loan products to find a competitive rate that suits your budget.
- Loan Features: We’re going to look for loan features that offer flexibility, such as the ability to make extra repayments or access to offset accounts.
Role of a Broker
As a broker, we provide guidance and support tailored to first home buyers, helping to demystify the home-buying process. Our services include:
- Market Knowledge: We offer insights into the latest loan products from a range of lenders, ensuring you’re aware of all available options.
- Personalised Service: By understanding your specific needs and financial capacity, we can identify loan solutions that align with your goals.
- Application Process: We assist in preparing and lodging your loan application, ensuring all necessary documentation is in order and compliance with lender requirements is met.
- Communication: We act as the point of contact between you and lenders, managing negotiations and correspondence to streamline the approval process.
- Ongoing Support: From pre-approval to settlement, we provide continuous assistance, answering questions and offering guidance throughout your finance journey.
If you’re ready to take the next step, please reach out to our team today.
Download our guide
We know how daunting it can be to tackle such a big task for the first time> There’s often confusing jargon, some hard-to-understand plot twists and a wealth of things to consider. That’s why we’ve created our guide for those looking to learn a little more about the process of purchasing their first home.