Making the transition from long time renter to proud new homeowner may seem difficult, even out of reach. But do not fear, with a few shifts in your strategy you could be holding the keys to your very own property in no time.

Talk to a mortgage adviser
You would be surprised at the number of home loan options on the market these days.

As there are several lenders to choose from – as well as hundreds of products, surely there is something to meet your personal circumstances.

Advisers are well-versed in these options as well as borrowing requirements, so it is best to talk it over rather than spinning around in circles visiting several different lenders and browsing various website.

This will also help you to establish goals, such as identifying saving targets and working out dates as milestones.

Research funding opportunities
Depending on where you live, chances are there are concessions available for your first home buyer loan. The federal and state governments have various incentive grants to help Australians make their way onto the property ladder.

If you need financial help with securing a loan, you may be able to access the equity of a willing family member or friend to help you get there.

Another option may be to use rental payments as proof of genuine savings. While only certain lenders offer this solution and is subject to borrowing criteria, it may be something you would benefit from.

You may also wish to establish a disciplined budget to help you save for a deposit – the more you have to offer at the beginning of the transaction, the more likely you will pay off the loan faster later down the track.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.