Our First Home Buyers Loans & Your Grant
Purchasing your first home is an exhilarating experience. It means that you’ll be able to live in a place that you can call your own whilst securing yourself a great long-term investment at the same time.
However, the process of buying a home can be a little daunting - you will be making a significant financial commitment that will last for many years to come.
The steps are not difficult, but to ensure you buy the right home and secure the best loan for your needs you need to know your stuff. The more you know, the more confident you’ll be navigating your way through home ownership.
As it's such an exciting time, you may have a million things running through your mind at once, which is why it’s a good idea to have your first home buyer loan pre-approved before you start your search for the perfect property.
Doing this will allow you to maximise your chance of securing your dream home when the time comes along, as you will have everything set and ready to go!
At resi, we have endeavoured to make securing a first home loan easy to understand and totally transparent.
We offer a number of different packages that cater specifically to first home buyers out there, and we are here to help you with your loan every step of the way.
For more information, or to download "Navigator", our free guide for first home buyers, click one of the two buttons below.
Securing a first home buyer loan
After downloading "Navigator", the next thing you will need to consider is how much you can afford to borrow through loans for first home buyers, and how much you can save towards the deposit of your first home.
This is where it may be beneficial to create a budget so that you can monitor how much you're spending, and what you're spending it on. The various budgeting and loan calculators located on the resi website may help you with your finances.
It may also be a good idea to clear or minimise your existing debt. Personal loans, hire purchases, and credit cards can all add up over time - so it's best to get these out of the way as soon as possible so you can start saving towards a deposit.
Doing this will also cut down the amount of interest you're paying on these items over the long-term.
Next, define the purpose of your purchase. Do you plan on living in this home short term, long term or will you use it as an investment property later down the track?
You may also want to consider your lifestyle - not just presently, but in the future too. For example, will you be accommodating for a growing family?
Utilising government funding
Many state governments provide different types of incentives for first home buyers who are wishing to enter the real estate market and gain their footing on the property ladder.
Depending on where you are looking to purchase and if you are eligible, you might be able to receive funding towards the purchase of your first property. Some states also offer a discount on stamp duty costs, meaning that you will be paying less for your home overall.
First home buyers are well looked after at resi. We have helped a number of new entrants to the property market navigate their way through state government provided initiatives.
We have a variety oef fixed or variable home loan packages to suit any circumstance, and some of the best fixed interest rats around. Not only will your Loan Specialist find the best home loan for your needs, they will guide you through the whole home ownership process.
Contact one of the Loan Specialists at resi today for professional and expert assistance with home lending finance.
Types of Home Loans: