First Time Buyers

Loans for First Time Buyers

Introduction

Becoming a homeowner has been the dream of most Australians for generations.

Today’s first homebuyers not only have access to more information and expertise but also to a variety of different loan products to help them achieve that dream.

Plus, more and more first-time buyers are becoming investors before they own a home.

First homebuyers are a vital cog in the real estate wheel and they can become property owners with the right advice and expert assistance.

Rentvesting vs. buying a home

A new first-time buyer investment strategy is the concept of rentvesting.

Rentvesting involves buying an investment property but continuing to rent in the location of your choice.

This strategy has a number of positives, including investing sooner rather than later; renting in locations that first-time buyers probably can’t afford to buy; and growing equity in income-producing assets which can be used to invest again or to buy a home down the line.

By adopting a rentvesting strategy, first-time buyers can start their property investment journey sooner, which will have long-term financial benefits for them.

What you need to know about guarantees

One of the most popular first-time buyer home loan products is a guarantor loan.

The reason for their popularity is simple – saving a deposit for your first property has always been difficult.

However, as the name suggests, this type of loan uses a guarantee from another party – usually mum and dad – that acts as the deposit.

Parents often use equity from their own homes or portfolios to guarantee the entire, or a percentage, of the deposit for their children.

That way, first-time buyers can not only purchase a property more quickly, they may also avoid Lenders Mortgage Insurance, too.

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:

Find out how much you can borrow

Please complete this 3 minute form & provide us with your brief financial background. We will then come back to your within the next 24 business hours with an estimated range of your borrowing capacity

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

Latest for first time buyers

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

FAQ’s

1. About/Why Intuitive Finance and what fees do you charge and what loans do you do? Business / Commercial and are you a lender/broker? / Where are you based?

Intuitive Finance are a Melbourne based award winning boutique finance broking firm. We assist all ranges of clients from first home buyers through to Property Investors and clients who wish to refinance, review their current loans and interest rates or release equity and SMSF.  Intuitive Finance 95% of the time will charge a fee for providing credit assistance to you. Any/all fees will be disclosed to you at the outset in our strategy and is simply applied to cover our time where we need to be compensated for the work done to assist you.

 

2. Do you have calculators to help me with my mortgage and finance?

 

We recommend you speak with one of our Finance Strategist. However you can find a range of calculators and checklists on our website: https://intuitivefinance.com.au/calculators/

3. I'm a current / Metropole client and I need to know if I can switch a loan from one property to another or I need to get options for a better interest rate.

Please feel free to call 1300 342 505 or email us at info@intuitivefinance.com.au to speak to one of our Finance Strategist so we can review your current loans and situations.

4. How much can I borrow and what would be the best option for me?

Everyone’s circumstances are different and there are a lot of options out there, so we recommend you speak with one of our Finance Strategist. There is also a great article on our website to read before you contact our team. What’s the best home loan for you?