First Home Buyers

Buying your first home is a huge milestone and an extremely exciting time in your life.  Getting the right advice on your home loan and gaining a pre-approval so you know just how much you can afford is essential.  Knowing how much deposit you need, what the fees are and how the process works is also important and your Assured consultant is here to take you by the hand and guide you through.

Below are some of the things you should consider if you’re a first home buyer.


Grants and Concessions for First Home Buyers

As a first home buyer, some great news is that you may be entitled to concessions or grants.  These will vary depending on which state or territory you are buying your home in, so to find out more refer to your state or territories revenue office.  Below is a handy table providing links to the relevant sites.

Links to FHB information in your state or territory

Revenue SA: https://www.revenuesa.sa.gov.au/

State Revenue Office Victoria: http://www.sro.vic.gov.au/

NSW Office of State Revenue: http://www.osr.nsw.gov.au/

Queensland Government: https://firsthomeowners.initiatives.qld.gov.au/

Government of Western Australia department of Finance: https://www.finance.wa.gov.au/
First Home Owner Grant

ACT Revenue Office: http://www.revenue.act.gov.au/

Northern Territory Government Department of Treasury and Finance:  http://www.treasury.nt.gov.au/

http://www.sro.tas.gov.au/

What you’ll need to apply for a pre-approval for your first home loan

Getting ready to see your broker will help make the process easy and your loan application or pre-approval move faster.  Here’s a guide to the types of things you should have handy;

  • 2 of your most recent payslips showing year to date earnings, company ABN and your name.
  • The latest 2 Years tax returns and ATO Notice of Assessments.
  • Your Group Certificate/PAYG Group Summary for the most current financial year.
  • 100 “points of ID”.  A sample of the types of documents that will be suitable are;
    • 70 points        Current passport or a passport less than 2 years expired
    • 40 points        Drivers licence
    • 40 points        An ID card from the Public Service or a Tertiary Education institution or Commonwealth benefits card
    • 25 points        Credit card, council rates, telephone account or Medicare card
  • The latest six months transaction history on your Savings account/s plus 1 original statement
  • Evidence of any additional funds to complete the purchase

How your Assured Broker can help you with your first home

An Assured consultant can help make your first home buyers experience easy and stress free.  We’ll visit you in your home or office to help save you time, or you can visit us in our office, whatever you prefer.  Here’s how we can help;

We’ll start by having a chat over the phone to understand your situation and ask you a few simple questions to get an idea of your current position

Next, we’ll make an appointment for a time that suits you to go through the most suitable options available after researching up to 1300 loan options

We’ll guide you on how much you can afford to borrow, what your repayments will be, deposit requirements and let you know the fees and charges applicable both for your home loan and for purchasing a home

We’re here to help you understand the loan application process, property contracts, how to lodge your First Home Owner’s Grant application if applicable and help you feel comfortable with the journey you’re about to begin

We’ll submit your application to the lender on your behalf and liaise with third parties such as real estate agents, builders and conveyancers. Then we’ll follow your home loan applications process, keeping you up-to-date and helping you sign your mortgage documents

After your loan has settled, we’ll keep you informed of the latest interest rate and industry developments and perform health checks to make sure your loan is always working for you.

First Home Buyer home loan calculators

Here’s some handy home loan calculators you’re sure to find useful as a first home buyer