First Home Buyers
Owning your first home is a big part of the Aussie dream—it’s about having a place that’s truly yours, where you can put down roots and start building your future. But before you dive in, there’s a bit to think about. It might feel a bit overwhelming at first, but with the right support, buying your first home is totally within reach. Want to go through the steps together?
Save a deposit
Ideally 5–20% of the property price. The bigger the deposit, the better your options (removal of LMI under 20%).
If you qualify for the First Home Guarantee (FHBG) Scheme you could buy for as little as 5% deposit. That’s only $25,000 for a $500,000 home, or $40,000 for a $800,000 home!
Have Stable Income
Most lenders like to see at least 6–12 months in your current job (especially if PAYG).
If you’re self-employed, you’ll usually need 2 years of tax returns.
Get Your Documents Together
Recent payslips, bank statements, ID, and savings history.
If you have any debts (like credit cards or personal loans), include those statements too.
Know Your Budget
Use a rough borrowing calculator or chat with a broker to get an idea of what you can afford.
Don’t forget upfront costs like stamp duty, legal fees, etc.
Check Your Credit Score
Make sure there are no surprises—like old unpaid bills that could trip you up.
Minimise Spending and Debts
Banks look at your living expenses and commitments, so it’s smart to reduce unnecessary spending a few months before applying.
For a no-obligation consultation, get in touch with Matthew now.
Frequently Asked Questions
How much deposit do I need to buy my first home?
Typically, you’ll need at least 5–10% of the purchase price. A 20% deposit avoids Lenders Mortgage Insurance (LMI), but various schemes can reduce upfront costs.
What government grants or schemes am I eligible for?
You may qualify for the First Home Guarantee, First Home Buyer Assistance Scheme (stamp duty concessions), and the First Home Super Saver Scheme. These can lower your deposit or costs.
How do I know how much I can borrow?
Lenders assess your income, expenses, credit history, and existing debts. A mortgage broker can give you an accurate borrowing capacity based on your real situation.
What documents do I need to get started?
You’ll need ID, recent payslips, bank statements, and details of any debts or assets. A broker can provide a checklist.
How do I choose the lender or home loan product?
Consider interest rates, loan features (like offset accounts), fees, and flexibility. A broker can compare options from multiple lenders to suit your goals.
We have a number of tools to simplify gathering documents! Ask us how!
The Loan Journey
Let’s Chat
We’ll catch up and get a feel for where you’re at now and what you’re hoping to achieve.
Behind-the-Scenes Work
We head back to the office, crunch the numbers, and explore the best options to help you reach your goals.
Your Options
We’ll catch up and get a feel for where you’re at now and what you’re hoping to achieve.
We Handle the Hard Stuff
From paperwork to approvals, we take care of the lot and keep you updated every step of the way.
Ongoing Support
We don’t just set and forget — we check in regularly to make sure your loan still works for you.
