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First Home Buyer Loan

First Home Owner Loan

If you need a First Home Buyer loan, we can help you.

Helping people to buy their first home is one of the most satisfying parts of being a mortgage broker. Seeing people escape the rent trap and move into their own property, is very rewarding. 

To help you get your first home buyer loan, here are 3 things you will need.

Good Credit History

Before lending you hundreds of thousand of dollars, lenders will look at your Credit File to ensure you have a sound credit background.

It’s a good idea to check your credit rating before applying for a home loan to get an idea of where you stand. You can do this through private credit reporting agencies such as Veda.

A Deposit

To purchase a home, you will need to pay a deposit and any costs that may be associated with buying your home. The amount you will need for the deposit is typically 20% of the purchase price. You can sometimes get loans with as little as 5%, depending on the lender.

You can find out more about how much deposit you will need here.

Income to service the loan

 Lending institutions will want to see your proof of income, to ensure that you can make the loan repayments. If you’re a PAYG employee, this will include your payslips, and if you’re self-employed this will include your most recent tax returns.

If you have questions and would like to talk to someone who can help you. Why not book a phone consultation with one of our first home buyer loan experts at a time that suits you! Just click on the button below to get started.

 

Book a Chat to discuss your first home buyer loan!

 

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Disclaimer: Your full financial situation will need to be reviewed prior to acceptance of any offer or product

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