First Home Buyers
With our mortgage brokers and real estate experts by your side, make informed decisions and streamline your entire first home-buying experience.
Simplifying Your First Home Purchase
If you are new to the property market and are buying your first-ever home, we are here to support you through your journey.
- Our mortgage experts will guide you through complex industry jargon, help you understand the real estate market, and help you make optimum choices.
- Based on your financial situation, we will recommend and secure lending solutions that fulfil your needs without overburdening your future.
- We will help you access the First Home Owner Grant, source appropriate pre-approvals, and make all benefits available to you.
- With us, you will consider all the costs, including down payments, closing costs, etc., and plan to avoid any financial roadblocks.
Types of First Home Loan Products
Our team can help you explore and access all first home financing options and help you make a choice that best aligns with your goals and capacity.
Variable Loan
A variable rate move up or down based on how the RBA sets its cash rate. A Variable Rate is generally flexible.
Fixed Loan
Fixed Interest rates offer stability and flexibility in your repayment schedule.
Construction Loan
Building your own home? Buying a House and Land Package? The construction loan is likely for you.
Split Loan
A split loan is part fixed and part variable. It offers the benefits of both loan types.
First Home Buyer Considerations
What is Stamp Duty, and How Much is Payable?
Stamp duty is a tax charged by State and Territory governments on the purchase of property. The amount of duty charged will depend on the State government’s formula and the sale price. There are usually concessions for first-home buyers, ranging from discounts to extended payment periods.
Is Home Insurance Required?
Your home is likely to be your biggest ever purchase, so it’s well worth protecting with insurance. There are a number of factors that will affect the size of your home insurance premium, including location, the home’s age and building material, the rebuilding value and the size of the excess you choose. So, it’s always recommended to connect with an insurance broker and navigate your way through it.
Is a Pest and Building Inspection Required?
Often lumped in together, these inspections provide very different information and are worth every cent. Don’t think you need one or the other. You need both, and a suitably qualified and licensed expert should carry each out.
What is Mortgage Registration Fee, Transfer Fee, and How Much is Payable?
The Mortgage Registration Fee is a charge by the State or Territory land titles office to register the lender’s mortgage on the property’s title record. The borrower pays it in full at the time a loan is transacted. The Title Transfer Fee is a state/territory government fee for transferring the property title from the seller to the buyer. The cost can vary significantly depending on the location and state or territory of the property.
What is Lender's Mortgage Insurance (LMI)
Lenders will require you to take out this rather costly insurance cover if they are lending you more than 80 per cent of the value of the property (or you have a Loan to Value Ratio (LVR) of more than 80%).
First Home Buyer Lending Fees
Your loan itself may come with additional costs, including application fees, set-up fees and a property valuation. Depending on the type of loan, there may also be monthly account fees.
Legal Fees Payable For Your First Home
You will need a solicitor or conveyancer to handle the legal transfer of the property title and do the necessary searches. Legal fees can vary widely. You are entitled to a quote upfront and should always ask for one. The more complex the transaction, the higher the fee.
