First home buyer loans near me

First home buyer loans

Get into your own home sooner and never look back

Buying your first home?

It's a big step, but it doesn't need to be stressful. Our aim is to help make the process of buying a home easy.

 

How we help:

Best first home buyer loan

First home loan lenders

Review your range of bank and lender options

Best first home buyer loan

First home loan products

Compare rates, loan features and find out what's possible

Best first home buyer loan

First homeowner grants

Discover which first home buyer programs you are eligible for

First home buyer loans Sydney Brisbane Melbourne

What should you look for in your first home loan?

There's no such thing as the single best home loan for first home buyers. It's about finding the right loan for your situation. That's why it’s important to compare different lenders and loans and to look at all of your options.

Interest rate

Generally speaking, the lower the interest rate, the lower your mortgage payments. But don't focus on the interest rate alone. Fees, charges and loan rules also need to be taken into account, including discounts for new customers and what happens after any honeymoon period.

​​Fees

Loan fees and account charges can add up quickly. Not to mention break fees or costs associated with loan facilities you may or may not need. 

Comparison rate

The comparison rate combines the loan interest rate with standard fees and charges. This can provide a more accurate indication of the loan's overall cost.

​Loan features

Compare loan features to work out which ones may help you better manage your repayments and get extra value from your home loan, such as a mortgage offset account or redraw facility.

Steps to becoming a first homeowner

As a first home buyer there's plenty to learn, lots to research and usually little spare time to do it in. The good news is that you don't have to do it on your own. We look out for your interests and do the heavy lifting that saves you time and money.

First home buyer loan amount

​Step 1: Work out how much you can borrow

We help you work out how much you can borrow and how much you can afford to repay. This includes creating an accurate and detailed budget that takes into account your income, week-to-week expenses, plus the costs of purchasing a property. This will include stamp duty, council rates, moving costs, conveyancing and other fees. If you haven't finished saving your first home loan deposit, we can also help you work out how big your deposit you will need to be.

First home buyer grants Australia

Step 2: Assess eligibility for first home buyer grants and schemes

You may be eligible for a first home buyer grant or stamp duty concession, including the national First Home Loan Deposit Scheme (FHLDS). The FHLDS is an Australian Government initiative to support eligible first home buyers purchase their first home with a smaller deposit, via participating lenders. Alternatively, you may be eligible for state-based first home buyer programs.

Get your first home loan

Step 3: Match you with potential lenders and loans

Based on your financial goals and needs, income and commitments, deposit, other savings or investments, plus your credit history, we find the best interest rate and match you with potential lenders and loans. We can also help you apply for a pre-approval. Our aim is to set you up with all the information you need to go house-hunting with confidence.

Property research information for first home buyers Australia

Step 4: Find a property to buy

Don't pay for property research data. As a My Finance Agent client, we give you access to professional property sales data as part of our standard service. Use this information to help formulate a price guide and to justify your offer during any negotiation process. We can also connect you with real estate experts, such as buyers agents and more.

How to apply for your first home loan Australia

Step 5: Home loan contract and settlement

You're on the home stretch now! We do all the legwork and look after the details when it comes to your loan application and contract. We also oversee that your solicitor or conveyancer has everything they need. 

Free annual home loan review

Step 6: Annual home loan review

We do an annual review of your home loan to make sure you're still on the best deal, plus getting what you signed up for. You also have access to our free wealth and financial education seminars.

How home loan offset and redraw works

Popular home loan features for first home buyers

Extra repayments

Pay off your loan faster, so that you pay less interest over time and become mortgage-free sooner.

Redraw facility

Get ahead in your repayments and then withdraw funds in credit from your loan as you need them.

Offset account

A separate savings or transaction account is linked to your home loan. This account balance is deducted from your loan balance to reduce the amount of mortgage interest you pay.

First home buyer grants and schemes

We'll help you navigate the myriad of home buyer grants and other schemes available across the country. These first home buyer programs are designed to save you money and get you into your own home sooner.

 

Talk with one of our loan experts to discover more, find out if you're eligible and how to apply.

First home loan deposit scheme Australia

First Home Loan Deposit Scheme

You may be able to purchase your first home sooner with as little as a 5% deposit

North Territory First Home Owners Grant

Northern Territory first home buyers

Worth $10,000 for eligible applicants buying or building a new (never previously occupied or sold) home

ACT Home Buyer Concession Scheme

Australia Capital Territory first home buyers

The ACT Home Buyer Concession Scheme offers up to 100% discount on stamp duty

QLD First Home Owners Grant

Queensland first home buyers

$15,000 towards buying or building a new home under $750,000, as well as potential stamp duty concessions

NSW First Home Owner Grant

New South Wales first home buyers

NSW First Home Owner Grant (FHOG) provides up to $10,000, as well as First Home Buyer Scheme stamp duty concessions

SA First Home Owners Grant

South Australia first home buyers

Receive a grant of $15,000 for the construction or purchase of a new property valued at up to $575,000

Tasmania First Home Owners Grant

Tasmania first home buyers

Up to $30,000 for buying or building a new home, as well as potential stamp duty concessions for eligible applicants

Victoria First Home Owners Grant

Victoria first home buyers

Provides $10,000 for a new home valued up to $750,000, plus further concessions for eligible people

WA First Home Owners Grant

Western Australia first home buyers

$10,000 when you buy or build a new home (value thresholds apply) as well as First Home Owner Rate of duty

"Nothing short of exemplary"

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I recently used MyFinance Agent for a new loan on a Sydney property purchase. Their customer service and loan rate achieved was nothing short of exemplary. I also saved a tonne of money by using them and now have a go to finance broker for the future. Highly recommend.

V CAPITAL

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