Getting your first home means getting your first home loan. And while the idea of the new house makes you want to jump on the bed, the idea of borrowing several hundred thousand dollars makes you want to hide under it. That’s normal. In fact, it’s good to be a little wary because there are a lot of second rate first homebuyer loans out there. Our team of professionals are here to make sure you enjoy the best possible loan, and the nicest possible process. They look at hundreds of products from dozens of lenders, so they can find the one that makes the path to your first home a little smoother, fairer and faster. First Home Owners Grant? Stamp duty concessions? We will tell you if you qualify and help you get your hands on them. How much will they charge you? Absolutely. Nothing. Our Brokers take their commission from lenders – not borrowers.
The First Home Owner Grant
While we do all, we can to make first homes more accessible, today’s first homebuyers need all the help they can get. That’s why the State Government offers the First Home Owner Grant. It’s a one-off payment of up to $10,000 designed to put more people into new homes. And no, you don’t have to pay it back, so it’s well worth getting your hands on. Our specialist help you work out whether you’ll qualify, and even complete the application for you.
Are Savings Important?
In a word, yes. Lenders like to see that you can afford the repayments on your loan, so they ask for a deposit. That deposit can be a combination of genuine savings, funds in your bank account, and money that’s been gifted to you. The size of your savings differs from lender to lender, but you can expect to somewhere between 1% and 5%. So, on a $350,000 home and land package, that would be anywhere between $3500 and $17,500. To get a better idea, sit down and chat with one of our specialists about the best loan for you.
Zero Deposit Home Loans? Yes
If you’ve found it difficult save a deposit in the past, then a zero deposit home loan may be the best path to your new home. Keystart Home Loans was created by the Western Australian Government to help people into homes with no deposit. With a Keystart Home Loan you don’t need savings (although a fee to the land developer and preliminary payment to the builder is likely needed) - the rest can come from your First Home Owner Grant. You need to tick a few boxes to qualify, but don’t worry, Our consultants will let you know if you qualify and step you through the application process.