Buying your first home should be exciting. Here we’ve cut the jargon and simply explain what you can expect at each stage of your property journey.
Your borrowing power will depend on a number of factors including your income, expenses, credit, and of course your deposit size.
Home loan pre-approval is often the first formal step towards buying a property. It’s free and is an indication of how much you could borrow.
To get approved for a home loan, you'll need to provide documentation to confirm your identity, income and more.
We’ll explain what you need to do, what expenses you’ll need to pay, and who will be involved at each stage.
Tell us a bit about yourself, your needs and home loan preferences. We’ll ask about your income, expenses, credit history, employment history and any current loans. You can complete this in your own time. Your application will be securely saved and waiting for you.
You’ll need to provide supporting documentation that helps the lender assess your profile. These include identification, recent payslips, bank statements and any loan statements you might have for existing loans. These are all securely uploaded online, in your own time.
Once we have an accurate view of your financial situation, our smart technology will compare thousands of different home loan options to find a shortlist of the loans that best matches your specific needs.
From here our Home Loan Specialists will do the heavy lifting for you. They liaise with the lender, keep you updated on your loan’s progress, and are available to answer your questions via phone, email or live chat.
Next, your chosen lender will assess your application and your ability to pay back the loan amount. If all goes to plan, they will approve your loan and you can move towards settlement.
There are a number of grants and concessions available to first home buyers from both a federal and state level. These are all designed to help new buyers get a foot on the property ladder. First Home Owners Grant (FHOG)
First Home Loan Deposit Scheme
Stamp duty exemptions
Reduced Lenders Mortgage Insurance
Your eligibility can vary depending on your state and territory. It’s always smart to chat to an expert first.
Work out how much you could borrow based on your income and how much you owe.
Estimate how much stamp duty and extra fees you might need to pay for the property you want.
Find out how much your weekly, fortnightly or monthly your home loan repayments will cost.