First Home Buyers
Stepping into the property market is one of the biggest financial moves you’ll ever make. With contracts to decipher, paperwork full of jargon, inspections to navigate, and finally securing the keys, it can feel overwhelming. That’s where we come in, keeping things simple and straight to the point.
If you’re buying your first home, it’s important to explore all your loan options as well as any entitlements you may qualify for. We’ll guide you through each stage, explain what you need to know, and compare options from more than 20 banks and lenders to help you secure the loan that’s right for your first home.
Meet with your mortgage advisor
During our consultation, we’ll talk through your needs and goals so we can identify the product, features, terms, and home loan rate that best support what you’re aiming to achieve. Once we’ve chosen the right loan together, we’ll move straight into the application process.
2. Loan application process
We’ll make sure you have all the documentation needed for your home loan application and submit it to your chosen lender on your behalf. We’ll need some information from you along the way, but we’ll walk you through each step, so you always know what’s happening.
3. Assessment
The lender will review your application to make sure the loan is affordable for you and that you meet their lending criteria. This assessment includes verifying your income and employment, completing a credit check, and reviewing all supporting documentation you’ve provided.
4. Conditional Approval
We’ll arrange conditional approval (pre‑approval) for you, giving you a clear idea of your borrowing power and expected repayments. The lender will also outline anything needed before full approval can be issued. With pre‑approval in place, you’ll be ready to move quickly and confidently when you find the home you love.
7. Unconditional (full) approval
Congratulations, you’ve made an offer on your dream home. Once your home loan receives unconditional approval, the lender will issue a formal Letter of Offer. After you accept this offer, you’re legally committed to completing the purchase, and withdrawing at that stage could result in financial penalties.
10. Move in
Congratulations, you’ve officially bought your first home! Now comes the exciting part: moving in and turning it into a place that truly feels your own.
5. Valuation reports
The lender may require a valuation on the property being purchased. Valuations are at your own cost. We are able to help with arranging this for you.
8. Insurance
Your loan documents will be sent to your solicitor or conveyancer, who will work with the lender to arrange a settlement date. Your first loan repayment is typically due about one month after settlement, depending on the repayment frequency you choose.
6. Lender’s Mortgage Insurance (added margin)
If needed, your lender will now submit your application for a Lender’s Mortgage Insurance assessment.
9. Loan settlement
Home insurance is a requirement for your loan, so make sure this is arranged and maintained for the full term of your loan. You should also consider Life, Income Protection and Contents insurance. We can refer you to insurance advisors who can assist with this.