First Home Buyer

Loans for First Home Buyers

Introduction

First time home buyers face some significant challenges in entering the property market, not least the basic task of saving for their deposit. We often work with our clients in the initial instance by assisting in establishing a budget and a savings plan. A great Government initiative is a website called Money Smart that includes a comprehensive budget planner. Once you have built up a sufficient deposit and we have established your borrowing capacity with a range of banks, its then up to you to decide on a property. Phase two of the process is to formally arrange your finance. The main issue with arranging your finances is to identify the right home loan with the required flexibility and most attractive interest rates. The features that would most likely assist you could include the basic repayments options, namely interest only or principal and interest (P&I), but could also include features such as flexible repayments, the capacity for additional repayments, Repayment redraw facilities, repayment holiday’s and mortgage offset accounts.

Key issues to consider

Owning your first home is an incredibly exciting but daunting time in your life. Before you embark on the process here are some of the key issues to consider:

  • Affordability
  • The deposit
  • Lenders mortgage insurance
  • The 1st Homebuyers grant
  • The costs of buying a home
  • The home buying process
  • Family Guarantee assistance
Loan Type Options

Whilst there are a myriad of loans available for consideration, here are some that are of the most relevance to a First Home Buyer:

Complimentary obligation free consultation

Discuss your specific needs & formulate the right strategy for you. Get in touch to organise your complimentary 60min session today!

What’s involved in obtaining a loan through Intuitive Finance?

Process begins

Step 1
Consult

Initial consultation (via the phone, skype or face to face) where we establish your motivations and requirements

Step 2
Gather

Information gathering to confirm your financial status

Step 3
Review & strategise

Clear and detailed review of your financial position with a suggested investment or buying strategy for you to consider including an assessment of the best and most appropriate deals available

Step 4
Agree & Implement

Complete the necessary application paperwork including follow-up negotiations with lenders and adjustments if necessary

Step 5
Complete

Finalise approval (s), arrange formal paperwork to be signed

Step 6
Settle

Coordination of the settlement process
Process ends
cover-guide-first-home-mockup

The 8 Things First Home Buyers Need to Know About Finance

Download this handy guide that the team at Intuitive Finance has put together for you.

Instant download