Borrowing Position
I can review your income, expenses and existing commitments to help you understand how much you may be able to borrow.
FIRST HOME BUYERS
Your first home starts with knowing where you stand.
Understand your borrowing position, deposit requirements and loan options, with clear guidance from your first questions through to settlement.
GETTING STARTED
Before you start looking, know your numbers.
Buying your first home involves more than choosing a property. Understanding your financial position early can help you approach the process with clearer expectations.
Your Deposit
Understand how much deposit you may need and how your available funds fit with the type of property you're considering.
Purchase Costs
Consider the costs that may come with buying a property so you can understand the funds you may need beyond the deposit.
Schemes & Concessions
Depending on your circumstances, first home buyer schemes or concessions may be available. Eligibility and program rules apply.
Loan Options
I can compare suitable lenders and loan options based on your circumstances and explain the differences for you to consider.
Pre-Approval
A pre-approval can give you an indication of your borrowing position before you buy, but it remains subject to lender conditions and is not a guarantee of final approval.
THE PROCESS
From planning to settlement
Understand Your Position
I start by reviewing where you are financially and what you're looking to do.
Prepare Your Finances
I help you understand the deposit, documents and other information you may need to prepare.
Get Pre-Approval
If appropriate, I can prepare and submit a pre-approval application before you purchase.
Find Your Property
Once you find a property, I can review the finance position before your loan moves to formal approval.
Formal Approval
I manage the application through lender assessment and help with additional requirements along the way.
Settlement
Once formally approved, I stay involved as your loan documents are completed and the purchase moves towards settlement.
COMMON QUESTIONS
First home buyer questions
Can I buy a home with less than a 20% deposit?
Potentially. The deposit required depends on the lender, loan structure and your circumstances. Some eligible first home buyers may also have access to government schemes.
Do I need pre-approval before making an offer?
Not always, but understanding your borrowing position before committing to a property can help you make a more informed decision. A pre-approval is conditional and does not guarantee final approval.
What happens if the bank valuation is lower than my purchase price?
A lower valuation can affect the amount a lender is prepared to lend. Depending on the circumstances, you may need additional funds or need to review the proposed loan structure.
Can my parents help with my deposit?
In some circumstances, family assistance such as a gift or other arrangements may be considered. The lender's requirements will depend on how the funds are being provided.
What documents will I need?
The documents depend on your circumstances, but lenders commonly require identification, evidence of income, information about your expenses and liabilities, and evidence of your available funds.
How long does home loan approval take?
Assessment times vary between lenders and can change depending on application complexity, lender processing times and whether further information is required.
Not sure what your first step should be?
Tell me a little about your situation, and I can help you understand your borrowing position and what to prepare next.