First Home Buyer Home Loans
Buying or building your first home involves decisions about your deposit, purchase costs, borrowing position, possible assistance, documents and loan options.
Realloans mortgage brokers can help first-home buyers prepare, compare relevant options from lenders on the panel and coordinate the chosen application. Available options and approval depend on lender criteria and the buyer’s circumstances.
A National Starting Point for First-Home Buyers
A first purchase can involve unfamiliar lender requirements, contracts, government charges and supporting documents. This national page explains the common financing decisions before directing buyers to state or location information where the rules differ.
Buyers can start with the national guidance here, then use a relevant state or location page, such as Victoria, for maintained local information. Realloans mortgage brokers can help prepare supporting documents and compare relevant lender options.
Some first-home buyers may qualify for government grants, guarantee schemes or duty concessions. Eligibility and current rules depend on the jurisdiction, property and buyer’s circumstances, so confirm details with the relevant government authority. Realloans can help explain how verified assistance may interact with the loan application.
What to Work Out Before Applying for Your First Home Loan
Deposit and Purchase Costs
Work out the funds available for the deposit and allow for purchase costs such as government charges, conveyancing, inspections and any lender fees. The amounts and concessions depend on the property, location, lender and buyer’s circumstances.
Borrowing Position
Lenders may assess income, employment, living expenses, existing debts, credit history, savings and the proposed property. A Realloans mortgage broker can help compare relevant options from lenders on the panel, subject to each lender’s criteria.
First-Home Buyer Assistance
Government grants, guarantee schemes or duty concessions may be available depending on the jurisdiction, property and buyer’s circumstances. Confirm current rules with the relevant government authority. A broker can explain how possible assistance may interact with the loan application.
Pre-approval and Documents
A broker can help prepare identification, income, expense, debt, savings and purchase documents and coordinate a pre-approval application. Any pre-approval is conditional, time-limited and subject to the lender’s requirements and final assessment.
Home Loan Options for First Buyers
First-home buyers may compare home loan options such as variable or fixed rates, principal-and-interest or interest-only repayments, and features such as an offset account. Product availability, features and suitability depend on the lender, property, loan purpose and buyer’s circumstances.
First-Home Buyer Guidance by Location
First-home buyer assistance, government charges and lending considerations can vary by state or territory. Use a maintained location page where one is linked below. For an unlinked area, contact Realloans for general broker support and confirm current scheme rules with the relevant government authority.
- Adelaide
- Ballarat
- Bendigo
- Brisbane
- Bunbury
- Cairns
- Canberra
- Central Coast
- Coffs Harbour
- Darwin
- Gawler
- Geelong
- Gold Coast
- Mackay
- Melbourne
- Newcastle
- Perth
- Port Macquarie
- Shepparton
- Sunshine Coast
- Sydney
- Toowoomba
- Townsville
- Wollongong