First Home Buyers

We love to help first home buyers take that first leap into the property market. Buying your first home is one of the most exciting moments of your life, but it can also be a time of confusion, we will be with you every step of the way to simplify the process for you and ensure you are confident from start to settlement day and beyond.

How we will help you:

• Assist you in finding out if you qualify for any grants

• Offer a free property valuation

• Be available at any time during the process to answer any questions

• Give you advice on negotiating with agents and buying at auction

• Attend an auction with you if you need additional support

• Teach you how to read a Contract of Sale and Section 32

• Ensure all deadlines including valuations, finance dates and settlement are met

Frequently Asked Questions

How much deposit do I need?

A deposit of at least 20% of the desired loan amount is required if you want to avoid paying Lenders Mortgage Insurance. However, many First Home Buyers are eligible for various government schemes that allow you to buy with a lower deposit.

Do I need pay stamp-duty?

Stamp Duty is a state tax that pays for the transfer of property from one owner to another. It is paid upfront and needs to be budgeted for, in addition to your loan deposit. Many First Home Buyers are eligible for grants that waive the cost of stamp duty.

How much can I borrow?

Your borrowing capacity is usually calculated as your income minus your expenses or any debts (this includes credit card limits). You can use our calculators here but keep in mind these are only a guide for calculating your borrowing power.

What is Lenders Mortgage Insurance (LMI)?

Lenders mortgage insurance (LMI) is required when the value of a loan is more than 80% of a property’s purchase price, or property valuation if refinancing. A bank considers a loan to carry a higher risk if the Loan to Value Ratio (LVR) is above 80%, in which case LMI is payable.

How we helped Vik & Priya* save on Stamp Duty costs

Vik & Priya came to us with 5% savings towards a deposit. They wanted to buy a new house up to $600,000 and were going for an auction in 1 weeks’ time and needed a pre-approval in a few days. We received a pre-approval in 48 hours and Vik and Priya were able to bid at auction and buy their dream property. As Australian Citizens and First Home Buyers they were able to receive the First Home Loan Deposit Scheme which helped them save on LMI costs and receive a lower rate.

*Names have been modified to protect the identify of our clients

Refinance