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Australian Homeowners

Buying Your First Home

Purchasing your first home is a thrilling milestone. It allows you to create a space that is truly yours while also investing in a property that can build your financial future. Here’s why working with a Loan Easy mortgage broker can make the process smoother and more efficient.

Why Choose a Loan Easy Broker?

Partnering with a Loan Easy mortgage broker provides several key benefits:

  • Clarity on Borrowing Capacity: A broker helps you understand your borrowing limit, enabling you to refine your search and bid confidently.
  • Tailored Loan Options: Receive a curated list of loan options suited to your specific circumstances and financial goals.
  • Optimized Application: Ensure your loan application is well-prepared to increase the likelihood of approval.
  • Grant and Concession Guidance: Determine your eligibility for first-home buyer grants and stamp duty concessions.
  • Loan Easy brokers provide advice on best first home buyer loans and its features like offset accounts and redraw facilities, which can help homebuyers save thousands over the years. Apart from that, they can also help in negotiating competitive lender incentives and interest rates like cashback offers or waived fees.

What Deposit Do I Need?

Aiming for a 20% deposit is a good strategy to avoid lenders mortgage insurance (LMI). However, some lenders may approve loans with as little as a 5% deposit. Besides the deposit, factor in additional costs such as stamp duty and legal fees.

First-home buyers may qualify for grants and concessions in their state or territory, which can reduce the required deposit. Utilize our budget planning calculator to set and achieve your savings goal.

How Much Can I Borrow?

Your borrowing capacity depends on several factors including your income, existing liabilities, credit history, assets, and savings record. Lenders assess these to determine their risk and your borrowing power in case of first Home buyer loan schemes. In order to rise your potential for borrowing, avoid adding any new credit to your home loan and reduce any outstanding debts. You can work on to improve your financial profile for lenders in case of by partnering with Loan Easy broker.

Finding the Right Home Loan

With thousands of home loan products available, choosing the right one involves considering various factors such as loan term, features (like an offset account), and whether you prefer a variable, fixed, or split interest rate. Your Loan Easy broker will recommend a shortlist of home loans that fit your unique situation, comparing over 60 lenders to find the best match for your needs.

First Home Buyer Grants

First-home buyer grants vary by state or territory, offering one-time payments to eligible purchasers. The amount and eligibility criteria differ across regions. Some states also provide stamp duty concessions to first-home buyers. Apart from grants, first time home buyer loan rates are influenced in some regions through specific programs. These programs are focuses on first time buyers who are investing in newly built properties. This will offer them exemptions or additional financial benefits. You can discuss the same with your Loan Easy broker to know more about its benefits for you. In the competitive market, pre-approval helps you to act quickly. You will be able to enjoy an advantage over other buyers by having pre-approvals in place for properties receiving multiple offers.

Is Pre-Approval Necessary?

Obtaining pre-approval from a lender can be beneficial. It provides a conditional commitment on how much you can borrow, helping you focus on properties within your budget and signaling to sellers that you are a serious buyer. Pre-approvals are typically valid for around three months and are subject to your financial situation remaining unchanged.

Understanding Stamp Duty

Stamp duty is a government tax on property sales, calculated as a percentage of the purchase price. The rate varies by state or territory, but many regions offer concessions to first-home buyers. First-home buyers sometimes get an exemption from stamp duty when they buy a property below the set threshold value. This can be additional benefit available in the market apart from securing best home loan rates for first home buyers. Your broker can help you know the eligibility requirements for the scheme and make sure you are not paying more. By working with a Loan Easy broker, you can navigate the home buying process with greater confidence and ease, ensuring you find the right loan and take advantage of any available grants or concessions.

By working with a Loan Easy broker, you can navigate the home buying process with greater confidence and ease, ensuring you find the right loan and take advantage of any available grants or concessions.

How can we help you?

I want to purchase a home
I want to refinance

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Frequently asked questions

First home buyers can access tailored loan options such as government-backed schemes, low-deposit programs, and incentives that help reduce upfront costs and make homeownership more accessible.

These schemes often provide lower deposit requirements, discounted fees, or access to shared equity schemes—making it easier to enter the property market sooner and with less financial strain.

Key aspects to compare include deposit requirement, interest rate, loan terms, and eligibility for grants or assistance programs—balancing cost savings with long-term suitability.

In many cases, yes—lenders may offer promotional rates or reduced fees to attract first-time buyers. It’s wise to shop around, including with brokers, to find the most competitive rate for your situation.

Start by checking eligibility for government schemes, compare interest rates and fees from multiple lenders, and consider getting personalized assistance from a broker to lock in the best terms.