One of the most valuable tools to get you started is the First Home Owner Grant (FHOG) a one-off government grant designed to assist eligible first home buyers who are building or purchasing a brand-new home. The amount you may be eligible for varies depending on your location and when your contract was signed or your build commenced.
Stamp duty concessions or exemptions (which can save you thousands)
Government guarantee schemes, such as the First Home Guarantee or Regional First Home Buyer Guarantee, which can help you secure a loan with as little as 5%. With so many options on the table, it’s important to have a team that understands the full picture. That’s where we come in. Our experienced brokers and friendly support staff take the time to understand your goals, explain what you’re eligible for, and guide you through every step — so you never have to figure it out alone.
Click through to find out what’s available in your area:
Contact Eadon Home Loans and speak with a mortgage broker who genuinely cares about helping you make the smartest move for you and your family.
You may not need a 20% deposit to buy your first home.
Depending on your circumstances, there may be home loan options available with a smaller deposit. As an example; there is potential for a 2 % deposit plus fees, such as stamp duty and conveyancing.
There are a number of government initiatives that may assist eligible first home buyers, including grants, concessions and home loan guarantee schemes.
There isn’t one simple answer. Different lenders can assess the same application differently, which is one of the benefits of speaking with a mortgage broker.
We generally recommend it. A home loan pre-approval can give you a better understanding of your borrowing capacity and help you set a realistic price range before you start seriously looking.
It can also give you greater confidence when you’re ready to make an offer.
Remember, pre-approval is not the same as final loan approval and conditions will apply.
It may be possible to buy a property with someone else, but there are additional considerations. Before purchasing together, you should understand how the ownership structure, loan responsibilities and financial commitments will work.
It’s also a good idea to obtain independent legal advice before entering into a joint property purchase.
Your lender may ask for documents such as: