First Home Buyers

Deposit, grants, guarantors and what you can realistically borrow, sorted before you fall in love with a property.

The hardest part of a first purchase is not the paperwork. It is not knowing what is normal. How big a deposit is enough, whether lenders mortgage insurance is worth avoiding, whether a parent guarantee is a good idea, and what happens if the valuation comes in low.

We walk through all of it in plain language before you start inspecting. You end up with a budget you trust, a clear view of which Victorian concessions you qualify for, and a lender lined up who will actually approve the kind of property you want.

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Estimate your repayments

Loan amount$650,000

Interest rate6.10% p.a.

Loan term30 years

Your estimated repayment

$3,939/month

Total interest

$768,028

Total amount

$1,418,028

Estimate only, based on a principal and interest loan with the rate held constant for the full term. It excludes fees, lenders mortgage insurance and rate changes, and it is not an offer of credit.

What we look at

Victorian concessions and grantsStamp duty concessions and first home buyer schemes change regularly. We check what applies to your purchase, not last year's rules.

Deposit and the LMI questionSometimes paying lenders mortgage insurance and buying now beats saving for another year. Sometimes it does not. We show you both.

Guarantor structuresIf family is helping, we structure it so their exposure is limited and can be released once your equity grows.

Apartments and smaller propertiesLenders have postcode and floor-size rules that are not published. We check the property against policy before you bid.