The path to purchasing your first home is filled with important decisions, from choosing the right property to selecting the most suitable loan. Navigating these choices can be challenging, especially with the complexities of the housing market and mortgage products. Our service is crucial because it ensures you have expert guidance at every stage, helping you avoid common pitfalls and make informed decisions that align with your financial goals. From understanding your borrowing power to securing the best loan for your needs, we're here to make your journey to homeownership smooth and stress-free.
With over 40 lenders on our panel, we can find a loan that suits your specific needs and circumstances.
We work closely with you to create a mortgage strategy that maximizes your benefits, whether through government grants, low deposit schemes, or guarantor loans.
We don’t just help you secure a loan—we stay with you throughout the entire process. Our team follows up at every step, ensuring everything goes smoothly from the initial consultation to settlement and beyond.
Our relationship with you doesn’t end at settlement. We offer ongoing reviews to ensure your mortgage continues to meet your needs as your circumstances change.
The First Home Owner Grant (FHOG) is a one-time payment available to first-time home buyers who purchase or build a new home. The grant aims to offset the effect of the Goods and Services Tax (GST) on home ownership.
Grant amount: $10,000 for eligible first-time buyers purchasing or building a new home valued up to $600,000.
Deposit Requirements: Although the grant provides additional funds, buyers typically need to save a deposit, often around 5-20% of the property’s value, depending on the lender's requirements.
Max Purchase Price: The property must be a newly constructed home, or a substantially renovated home, with a purchase price up to $600,000. If you are buying land and building a new home, the total value must not exceed $750,000.
The FHBAS provides exemptions or concessions on transfer duty (also known as stamp duty) for eligible first home buyers. Each state will have different price caps for the exemptions/concessions, below is the NSW limits:
Full Exemption: For new or existing homes valued up to $800,000, first-time buyers are exempt from paying stamp duty.
Concessions: For homes valued between $800,000 and $1,000,000, a concessional rate of stamp duty applies, which is calculated on a sliding scale.
Deposit Requirements: Similar to FHOG, the scheme reduces upfront costs, thereby lowering the deposit and overall savings required to purchase a property.
The First Home Guarantee is a federal initiative that allows eligible first home buyers to purchase a home with as little as a 5% deposit without needing to pay Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property’s value, effectively allowing the lender to provide a loan without LMI.
Deposit Requirements: Only a 5% deposit is required, making it easier for young buyers to save the necessary funds.
Max Purchase Price: In Sydney and regional centers in NSW, the maximum property price is $900,000. For other areas in NSW, it’s $700,000.
Income Caps: This scheme is income tested based on the most recent available taxable income figure, up to a maximum of $125,000 for single applicants and $200,000 joint income for couples.
The Family Home Guarantee is designed to help single parents, including those who are first-time buyers, purchase a home with a deposit as low as 2%. The government guarantees up to 18% of the loan, which eliminates the need for LMI.
Deposit Requirements: Only a 2% deposit is required.
Max Purchase Price: Similar to the First Home Guarantee, the maximum property price in Sydney and regional centers is $900,000, and $700,000 for other areas in NSW.
Income Caps: This scheme is also income tested based on the most recent available taxable income figure, up to a maximum of $125,000 per annum.
