Buying your first home is an exciting, but big step to take and one that comes with many questions and decisions. The first big question is how much you can borrow and what your likely repayments will be.
Feeling lost in the maze of home buying? Take the first step towards your dream home by downloading our guide. Get essential knowledge and discover how a broker can assist you on this exciting journey.
Before you start looking, it helps to know your budget. We’ll review your income, expenses, deposit and financial position to give you a clear picture of how much you may be able to borrow.
As a first home buyer, you may be eligible for government grants, guarantees or stamp duty concessions. We’ll help you understand which options could apply to you and how they may affect the deposit you need.
Pre-approval gives you greater confidence when you start your property search. With access to over 35 lenders, we’ll compare suitable lenders and loan options, manage the application and help you get finance pre-approved before you make an offer.
Now for the exciting part. With your budget and pre-approval in place, you can start searching for your first home with a much clearer idea of what you can comfortably afford. Once you find a property you’re interested in, you should also have the contract reviewed by a conveyancer or solicitor and complete any necessary property checks before committing.
Found the one? We’ll help you understand the finance side before you make an offer or bid at auction, including any important conditions and timelines you need to consider.
Once your offer is accepted, we’ll work with your lender to move your application through to formal approval, keeping you updated and helping with any additional information required along the way.
We’ll stay across your finance through to settlement and work alongside the other parties involved to help make the process as smooth as possible. Then comes the best part, getting the keys to your first home and moving in.
We’ll do the legwork for you. We can compare home loans across a variety of products available from Australia’s leading lenders.
And because you’re a first home buyer, you may be eligible for a first home buyer grant. The grant is for Australian citizens or permanent residents buying or building their first home, to be their primary residence within 12 months of settlement. Contact us to learn about eligibility and grant amounts in your state.
We’ll communicate with the lender, allowing you to focus on finding your dream home. With us by your side, we’ll guide you through the entire home loan process, from application to approval.
Whatever your circumstances, we will find the deal that’s right for you.
Send through a quick enquiry and we will be in touch.
While a 20% deposit is ideal to avoid Lenders Mortgage Insurance (LMI), many lenders offer loans with deposits as low as 5%, and in some cases even lower with government schemes. Guzman Finance can help you understand your options based on your circumstances.
Yes. Many first home buyers purchase with a 5% deposit. There may be additional costs such as LMI, although government initiatives may help eligible buyers reduce or avoid these costs.
Eligibility depends on the state you’re purchasing in and your individual circumstances. Guzman Finance can explain the available grants and schemes and help determine what you’re eligible for.
Borrowing capacity depends on factors including your income, expenses, existing debts, credit history and deposit. Guzman Finance can calculate your borrowing capacity and compare lenders on your behalf.