Are you suffering from “information overload” due to everything you have heard about first home loans? It can be complicated and confusing to buy your first home. Our mortgage advisers understand that and they are experts at helping first home buyers navigate through the maze of conflicting information and putting you on the path to being a homeowner but without running around to different lenders and agencies.
We will provide you with expert advice to help ensure that your first home buying experience is simple and stress-free. Our advice includes:
- The full amount you will need for a deposit.
- The “hidden costs” others don’t tell you about when financing your first home.
- We explain how you can fully take advantage of the First Home Owner Grant (FHOG) and other incentives.
- We calculate how much money you can borrow.
- We provide you with the exact repayment amount on your home loan.
- We explain family guarantee mortgage products to you.
- We will help you find the home loan that provides the most flexibility for your financial situation.
How Much Deposit Will I Have to Pay?
Depending on a number of factors, the usual amount is between 5% and 10% of the price of the home. Our mortgage brokers will be happy to figure out exactly how much money you will need for your down payment.
How Do I Obtain My First Home Buyer Incentives?
The WA Government currently offers $10,000 to first home buyers who purchase new homes or build a new one. In addition, they offer stamp tax duty incentives. Your Smartline Rockingham Mortgage Adviser will be happy to help you apply for these incentives and any others that may be available.
What are the Other Costs Associated with Financing my First Home?
Although we don’t charge you for our services, the lender may charge a home loan application fee. In addition, you may be responsible for Government duties, inspection costs, conveyancing costs, mortgage insurance and other costs. Your Smartline Rockingham Mortgage Broker can help you get started by using our cost calculator to give you a more thorough breakdown.
How Much Money Can I Borrow to Purchase My First Home?
Lenders use a lot of different criteria to determine how much they will lend to any individual borrower, including but not limited to your deposit, your income and your credit score. One of our mortgage brokers will be happy to use the Smartline Rockingham software to find out how much you will be able to borrow. If you want approximate information now, you can use our “How much can I borrow” online calculator.
What Will Be the Amount of My Mortgage Repayments?
Once your mortgage broker has helped you choose which loan you want, they can tell you exactly how much your repayment will be. If you want approximate information now, feel free to utilise our online mortgage repayment calculator.
What is a Family Guarantee Loan?
A family guarantee loan is a flexible loan that allows you to name family members to assist you if you are having difficulty making a payment. Ask your mortgage broker for more information.
How to Choose Your First Home Loan
Basically, you want to choose a simple, low-interest loan without any costly extra features. This helps first home buyers keep fees and interest to a minimum. Your mortgage broker will help you choose the loan that is right for you financially, right from the privacy of your own home. Smartline Rockingham is a “one-stop” solution to obtaining your first home loan.
Call Us: Talk to a Home Loan Adviser
You can call us on (08) 9527 1800 or simply fill out the contact form and one of our home loan advisers will call you ASAP.
- More information on how to find the right loan
- More information about what a mortgage broker can do for you
- Try our loan calculator or our “How Much Can I Borrow” calculator
- Take the first step to your first home: Talk to a Smartline Rockingham home loan adviser