first home buyers

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We are passionate about supporting first home buyers on their journey to homeownership. We understand that purchasing your first home is an exciting milestone, and we are here to make the process as smooth and rewarding as possible.

Navigating the path to your first home can feel overwhelming, but you don't have to do it alone. We take the time to understand your unique needs, preferences, and financial situation, providing personalised guidance every step of the way.

As a first home buyer, understanding deposit requirements and exploring your options can significantly impact your journey to homeownership. Here's a comprehensive overview of what to expect regarding deposits:

- Standard Deposit Percentage:

• Traditionally, lenders typically require a deposit of at least 20% of the property’s value to avoid Lenders Mortgage Insurance (LMI). For a property priced at $500,000, this would mean saving $100,000.

- Low Deposit Options:

• Many lenders recognize the challenges first home buyers face in saving for a large deposit. As a result, some lenders offer loans with deposits as low as 5%. This requirement varies, and it's essential to shop around for lenders that cater to first home buyers.

- Lenders Mortgage Insurance (LMI):

• If your deposit is less than 20%, you may be required to pay LMI, which protects the lender in case you default on your loan. The cost of LMI varies based on the size of your loan and deposit amount, so it’s vital to factor this into your budget.

- Guarantor Loans:

• If you have a supportive family member or friend, they may be willing to act as a guarantor on your loan. This means they provide their property as additional security, allowing you to purchase a home with a lower deposit—sometimes with as little as 5%—and potentially avoiding LMI altogether.

- Government Assistance Programs:

• First Home Owner Grant (FHOG): This is a government initiative offering financial assistance to first-time buyers. The specifics can vary by state, so it's important to check the applicability in NSW.
• First Home Loan Deposit Scheme (FHLDS): This scheme allows eligible first home buyers to purchase a home with as little as 5% deposit without LMI, supporting you in making home ownership more affordable.

- Savings and Gifts:

• Your deposit can come from personal savings, but receiving financial gifts from family members can also help you meet your deposit goal. Just ensure that any gifts are properly documented, as lenders may require evidence that the funds are a gift rather than a loan.

Finding the right deposit option for your situation can feel overwhelming, but it’s essential to assess your financial circumstances and long-term goals carefully. We are here to help you understand your deposit requirements and explore the best options tailored to your needs. Together, we’ll pave the way toward making your dream of homeownership a reality!

As a first-time buyer, you may be eligible for various government grants, schemes, and incentives designed to ease your financial burden. Our experts will help you identify and take advantage of these programs, ensuring you maximise your benefits and make informed decisions. Click here to access the First Home Buyers Grant (NSW).

Securing the right home loan is crucial for first home buyers. We offer a comprehensive overview of mortgage options, helping you understand the differences between fixed and variable rates, offset accounts, and more. We will assist you in finding a loan that fits your budget and long-term goals.

Getting pre-approved for a home loan can give you a competitive edge when house hunting. We simplify the pre-approval process, supporting you with documentation and liaising with lenders to expedite your application. With pre-approval in hand, you'll feel more confident and empowered in your search for your perfect home.

From identifying suitable properties to making an offer, our team is here to provide guidance and support at every stage. We ensure you have a clear understanding of the buying process, helping you make informed decisions and avoid common pitfalls.

Our commitment to you doesn’t end at settlement. We’ll continue to provide support and resources even after you’ve moved into your new home. Whether you need advice on managing your loan, refinancing options, or tips on homeownership, we are just a call away. Click here for more information on our ongoing support and commitment to you.