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Buying my first home
Smartline can make buying your first home easier by helping you through each of the following steps.
How much deposit will I need?
Usually you only need around 3% of the property's value saved as a deposit, but some lenders also like to see six months’ regular saving history. Your Smartline Mortgage Broker can work out exactly how much deposit you will need.
How do I arrange the first home buyer incentives?
Both the Federal and State Governments offer generous incentives to first home buyers. Your Smartline Mortgage Broker can help you arrange the first home owner grant and stamp duty concessions.
What are all the costs of buying?
Your costs of buying and financing yor first home include
- lender's application fees
- possibly mortgage insurance if you are borrowing more than 80% of the property value
- Government duties such as stamp duty
- your own costs such as conveyancing and inspection costs.
Use our costs of buying calculator to give you an indication of your costs.
How much can I borrow?
How much you can borrow depends on how much deposit you have saved and your current income.
With our specialist software, your Smartline Mortgage Broker can work this out quickly and easily for you. If you’re keen to get an indication now, use our how much can I borrow? calculator.
How much will my repayments be?
Once you have chosen your loan, your Smartline Mortgage Broker will tell you how much your repayments will be.
Use our repayments calculator to get started now.
Finding a loan
Generally, basic low interest loans without the costly "extras" are best suited to first home buyers. They keep your interest payments and fees to a minimum.
Your Smartline Mortgage Broker can help you choose a loan solution that is right for you, without all the running around. If you’re keen to get started now, read our handy loan guide on the different types of loans available.
Check with your Smartline Mortgage Broker whether you qualify for a professional package which can offer great value and discounted rates.
If you’re concerned about what would happen if interest rates were to rise, but want the flexibility to make extra repayments, a part fixed / part variable or split loan can be an ideal solution.
Several lenders now offer flexible, family friendly loans that enable family members to help out with your finance, if things are tight.
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buying my first home
