First Home Buyers

First Home Buyers

What are first home buyers’ loans?

If you’re purchasing your first home or property, then you may be eligible for a first buyers home loan. These special loans are designed for those who are trying to break into the market and buy their first home.

Learn more about our happy first home buyers or contact us today to start the loan process.

Understanding pre-approval

While the pre-approval process is not required to purchase a home, it can greatly expedite the process. Pre-approvals demonstrate to sellers that you are serious about your purchase and that there are lenders willing to work with you.

We walk you through the pre-approval process to ensure it goes quickly and smoothly, getting you one step closer to your new home. Our team will review your current finances, help you research and compare loan types to find the appropriate one, and complete the pre-approval application with your chosen lender.

First home buyer costs

As a first home buyer, you might be surprised at the cost of purchasing a home. We know it can be confusing, which is why we will help you understand and prepare for them.

  • Loans and deposits

When applying for home loans, having the appropriate deposit can make the difference between approval and rejection, and it can have a great impact on your terms and rates. At the very least, you should plan on a 5% deposit, though most lenders would like to see 10% or more. Any deposit less than 20% will be subject to lenders’ mortgage insurance (LMI).

  • Additional costs

Renovations, LMI, financing fees, one-time property costs and exit costs can quickly add up and put pressure on your financial situation. As a first home buyer, you may be eligible for an FHOG grant, which will help cover most of these costs. We’re here to help you understand and budget for the costs so you don’t have to worry about any nasty financial surprises.

A professional, dedicated team

Our experts are just one part of the team that will take to get you into your new home. We’ve established a wide network of real estate agents, conveyancers, lawyers, insurance agents and other important players for you. Save time and stress by letting us put you in touch with the proper people.

SHL Finance: Your key to the perfect first home

Here at SHL Finance, we’re dedicated to helping you find the perfect first home loan in Australia and promise to be here for you from start to finish. We service all of the Melbourne area. Stop by our office in Ringwood or contact us online today to turn your dream home into a reality.

Steller Home Loans Pty Ltd Trading as SHL Finance – Australian Credit Licence Number 473284. ABN 92 163 306 250

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    0478 021 757
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