Specialist Mortgage Brokers for First Home Buyers

You might have heard you must have 20% deposit, but that’s not always the case. Some lenders let you buy with as little as 5% deposit. We also have some lenders that allow First Home Buyers to borrow 100% of the property value, if they meet certain criteria.The key thing is that you may need to pay something called Lenders’ Mortgage Insurance (LMI) if you borrow more than 80% of the property value as a borrower. This is where government schemes that can help First Home Buyers with a smaller deposit and avoid LMI. So don’t stress if you haven’t saved the full 20%—you may have options sooner than you think. When we start the journey, we will do a head to to head comparison of all the options that are available including the Govt options listed on this page and the others in case you are not eligible for the Govt. benefits

This depends on your income, expenses, and any debts you already have. Lenders look at how much you earn compared to how much you spend each month, and then decide what loan size they’re comfortable with. A quick chat with us can give you a clear idea of your borrowing capacity so you can start searching for homes in the right price range. If our team picks up that you have excessive personal debt that is impacting your borrowing capacity, they can also provide figures on a hypothetic scenario of impact on your borrowince once the debt is paid off, so that you have multiple options available to borrow the money you need.

The government offers a few schemes and grants to make things easier for first home buyers, some of them listed on the page. These include: • First Home Owner Grant (FHOG) – a lump sum to help you get started (varies by state). • Stamp duty discounts/exemptions – can save you thousands on upfront costs. • First Home Guarantee – lets you buy with as little as 5% deposit without paying LMI or 2% for Single Parents. Each state has slightly different rules, so we can help you work out exactly what you’re eligible for based on your location and personal circumstances. .

Buying a home isn’t just the purchase price. You’ll need to budget for: • Stamp duty (unless you qualify for a concession) • Conveyancing/legal fees • Building & pest inspections • Loan application fees • Moving costs, insurance, council rates When we catchup with you, we’ll go through these with you upfront so there are no nasty surprises and you know exactly how much you would need upfront based on your scenario. .

Here’s the simple version: 1. Get a loan pre-approval so you know your budget. 2. Start house hunting. 3. Make an offer or bid at auction. 4. Sign the contract (usually with conditions). 5. Arrange inspections and final loan approval. 6. Settlement day – the house is officially yours! We’ll guide you through each step so you always know what’s next. .

The best way is to compare it with recent sales of similar homes in the same area. We can also order a bank valuation to check what the property is really worth and also share some online reports that you can use. Doing a bit of homework before making an offer can save you from overpaying.This is a very important point, because if the valuation comes lower than the amount you have on the contract, the bank will most likely use that amount which can lead to additional out of pocket funds for settlement

Yes—absolutely. A building and pest inspection can reveal problems you can’t see at first glance, like termites or structural issues. If you’re buying a unit, a strata report tells you how the building is managed and what future costs might come up. Spending a few hundred dollars now could save you thousands later.

• New builds: modern, low-maintenance, sometimes eligible for grants, but may cost more upfront. • Existing homes: established areas, character, you know what you’re buying. • Off-the-plan: can look attractive, but carries risks like delays or changes in market value or your personal circumstances as the loan approval is only valid for a short period and will expire if it is not drawn down in that timeframe. There’s no one-size-fits-all answer—it depends on your budget and goals. We’ll help weigh up the pros and cons with you.

Think about lifestyle (work, transport, schools, shops) and long-term growth. Some areas are more affordable now but may take longer to grow in value. Others are pricier but have strong demand. The right suburb is a mix of what you can afford and where you’ll actually enjoy living. Some buyers also use professional Buyer's Advocate services to cover the risk of making a wrong choice

Contracts can feel overwhelming, but here’s the gist: • They include the price, settlement date, and any special conditions. • You usually want clauses like “subject to finance” and “subject to building & pest inspection.” • A conveyancer or solicitor checks everything is in order and explains it in plain English. Having the right conditions gives you peace of mind and flexibility if something doesn’t go to plan.