Buying your first home is an exciting step. It can also feel overwhelming with so many options, rules and costs to consider. At Home Loans By Choice, we help you understand the process, compare loan options from major banks and non bank lenders, and guide you through every stage from planning to settlement.
Before you begin, it helps to understand a few key areas.
Deposit
Many lenders require a deposit, but some options may allow you to buy with as little as 5 percent, depending on your situation.
Borrowing Power
Your income, expenses, debts and credit profile all play a role in how much you may be able to borrow.
Upfront Costs
This can include stamp duty, legal fees and lender costs. Some first home buyers may be eligible for concessions or exemptions.
Loan Options
Fixed, variable and split loans all have different features. We help you compare what may suit your needs.
Tell us a bit about yourself, your needs and home loan preferences. We’ll ask about your income, expenses, credit history, employment history and any current loans. You can complete this in your own time. Your application will be securely saved and waiting for you.
You’ll need to provide supporting documentation that helps the lender assess your profile. These include identification, recent payslips, bank statements and any loan statements you might have for existing loans. These are all securely uploaded online, in your own time.
Once we have an accurate view of your financial situation, our smart technology will compare thousands of different home loan options to find a shortlist of the loans that best matches your specific needs.
From here our Home Loan Specialists will do the heavy lifting for you. They liaise with the lender, keep you updated on your loan’s progress, and are available to answer your questions via phone, email or live chat.
Next, your chosen lender will assess your application and your ability to pay back the loan amount. If all goes to plan, they will approve your loan and you can move towards settlement.
If you are thinking about buying your first home, the best place to start is understanding your options.
Speak with our team today or use our calculators to explore your borrowing power and repayments.
Join 1,000+ Aussies who claimed these benefits!
Drop your details below to access your savings, full borrowing power report and connect with expert advice 👇
Enter your actual annual household income (before tax) for more accurate calculations.
The FHSS lets you save for your deposit INSIDE your super fund with TAX ADVANTAGES. Combine this with your current savings to increase your buying power even more!
How it works: The Australian Government provides a guarantee to approved lenders, allowing first home buyers to purchase with just 5% deposit (or 2% for single parents) without paying Lenders Mortgage Insurance.
More info: firsthomebuyers.gov.au