Thinking of buying your first home? It can be an exciting, but scary time. Don’t worry, our mortgage brokers are here to support you at every stage of the home buying journey.
We’ll also help you navigate the benefits and perks that first home buyers may experience. Lenders often offer discounted rates or incentives to get first home buyers to choose them over the competition. We’ll help you secure the best first home buyer loan.
To qualify as a first home buyer, you must have never purchased a home before and you cannot purchase the home with a spouse who has purchased one before. You or your spouse can also not co-own any properties in Australia.
If you’re an Australian citizen or permanent resident in Australia and are at least 18 years of age, you can qualify for loans for first home buyers (and some of the government incentives that come with buying your first home).
The best way to get a first home buyer loan is to consider applying for a pre-approval. At Fox Home Loans, our mortgage brokers specialise in helping people get their first homes and we pride ourselves in having a simple and straightforward application process.
You can do the entire application online and our expert team will guide you through the entire process, from application through to settlement.
Our mortgage brokers can help you find the best home loan options to suit your needs and financial situation. They can also provide you with a clear understanding of the costs involved, such as stamp duty, legal fees, and other associated expenses.
Our home loan specialists are here to assist you in gathering all the necessary documents and information required to apply for your first home loan. We can also help you prepare a strong loan application, increasing your chances of approval. The team at Fox Home Loans can explain the different types of home loans available, such as variable or fixed rates, and help you understand the pros and cons of each option.
During the loan application process, our mortgage broker can communicate with the lender on your behalf, keeping you updated on the progress of your application. They can also help you understand the terms and conditions of the loan, including any potential fees or penalties.
Once your loan is approved, our mortgage broker can help you navigate the settlement process, ensuring a smooth transition into your new home. They can also assist with any ongoing support you may need, such as refinancing or reviewing your loan in the future.
Applying for a first home buyer loan is much like applying for any home loan. You will have to have some documentation prepared before submitting an application, but don't worry; having a Lending Specialist on your side to explain everything makes the process simple, and stress free!
Here is a list of things you’ll want to start preparing if you plan to apply for a first home loan:
As a first home buyer, you can never over-prepare. Get as many of these documents as possible and make sure everything is accurate. At every stage of the process, our mortgage brokers are here to help you make informed decisions and guide you towards successful homeownership.
Contact us today to learn more about our first home buyer home loan and how Fox Home Loans can help you achieve your dream of owning your first home.
Home loan pre-approval is a process by which a lender reviews your financial and credit history to determine how much money they would be willing to lend you for a home purchase. Pre-approval is not a guarantee that you will receive a loan, but it does provide an indication of how much you can borrow and the terms of the loan.
To obtain pre-approval, you typically need to provide the lender with information about your income, assets, and debts, as well as your credit score. The lender will use this information to assess your creditworthiness and calculate how much they are willing to lend you.
The pre-approval process typically takes a few days to a week, depending on the lender and the complexity of your financial situation. Once you receive pre-approval, you can start shopping for homes with the confidence of knowing how much you can afford to borrow.
Enquire for Pre ApprovalA first home buyer loan is a type of home loan specifically designed for individuals who are purchasing their first home. These loans typically have features that are intended to help first-time buyers enter the property market, such as lower deposit requirements, reduced or waived fees, and government incentives.
It’s important to do your research and compare the features and costs of different loans to find the one that best suits your individual needs and financial situation. Or leave it to the experts at Fox Home Loans. We’re here to help first home buyers navigate the complex road to owning their first home.
Enquire for your First Home LoanHome loan refinance is the process of replacing an existing home loan with a new loan from a different lender or with a different loan product from the same lender. The primary purpose of refinancing a home loan is usually to obtain a better interest rate or to access different loan features or benefits.
When you refinance a home loan, you essentially pay off the existing loan with a new loan, and the terms and conditions of the new loan may differ from those of the old loan. For example, you may be able to obtain a lower interest rate, switch from a variable rate to a fixed rate or vice versa, or access features such as offset accounts or redraw facilities.
Refinance your Home LoanBefore you start the process of switching home loans, it’s important to consider why you want to make the switch. Do you want to lower your interest rate, access different loan features, or consolidate debt? Understanding your reasons for switching can help you choose the right loan product and lender.
It’s important to note that switching home loans can be a complex process, and it may be helpful to seek advice from a mortgage broker like Fox Home Loans to ensure that you are making the right decision for your individual circumstances.
Switch Home LoansAn investment property loan is a type of home loan designed specifically for individuals who are looking to purchase a property for investment purposes rather than to live in themselves. These loans are typically used to purchase a property that will be rented out, with the rental income used to help repay the loan.
It’s important to carefully consider the costs and risks associated with investing in property and to do your research to find the right investment property loan for your needs. A financial advisor or mortgage broker may be able to provide guidance and advice to help you make informed decisions about your investment strategy.
Enquire for an Investment Property LoanA renovation home loan, also known as a home renovation loan or a home improvement loan, is a type of home loan that is specifically designed for borrowers who want to renovate or improve their existing home. These loans can provide funding to cover the cost of renovations or improvements, which can be a more affordable way to upgrade a home than selling and buying a new property.
If you are considering a renovation home loan, it’s important to have a clear understanding of your renovation plans and budget, and to work with a reputable lender or mortgage broker who can help you find the right loan product for your needs.
Enquire for a Renovation Loan
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Enter some basic details in our simple online form.
Discuss your loan preferences and application information.
Your Lending Specialist will discuss all details of your pre-approval.
With our technology, you can simply sign your loan documents electronically.
Your loan funds will be processed when settlement is finalised. It's that simple!
Enter some basic details in our simple online form.
Discuss your loan preferences and application information.
Your Lending Specialist will discuss all details of your pre-approval.
With our technology, you can simply sign your loan documents electronically.
Your loan funds will be processed when settlement is finalised. It's that simple!
as a Financial Services Group helping customers Australia wide
of processed applications for everyday Australians and SME businesses
customers provided with genuine, efficient service
Stamp duty is a tax that we pay when we buy a house and is payable when the home contract becomes unconditional. The stamp duty amount that you are required to pay is different in each Australian State. Note that stamp duty is an overhead fee and cannot be included in your home loan (stamp duty is not included in the Loan-To-Value Ratio calculation). Call our Home Loan Specialists on 1300 665 906 today to learn more about home loans as well as applicable stamp duties, fees, charges and concessions in your area.
Refinancing is available to any property loan product pending terms and conditions. Considering a refinance each year gives you a clear indication as to where you can be saving money- whether it’s a lower interest rate, through a cashback offer, or a product with lower fees. Being open to all options your Lending Specialist will discuss is crucial for the investment property refinancing process. Options tailored to your profile mean that you are getting the most competitive products supplied to you upon review.
Rental income helps to strengthen a clients application by injecting surplus income on the profile. For example, if a joint application is made for an investment property; both applicants incomes will be included in addition to the calculated or current rental income figure. EG: Having 3 contributing sources of income on an application provides for a lower risk application.
Several genuine tax deductions can be made for an investment property. These can include maintenance costs (upkeep of the dwelling, gardening, plumbing etc.), any property agent fees, and land taxes. We have partners that can assist in discussing what you can and can’t claim. Just ask one of our friendly Lending Specialists to find out more.
The general rule for a property loan deposit is between 20-30% of the purchase price as a minimum. The higher the deposit, the lower the risk is for the lender to offer the loan product. Speaking to your Lending Specialist will give you a clear indication of how much deposit will be required to propose an offer for the investment property.
