FIRST HOME BUYER
Over the years we have developed a satisfied and loyal first home buyer customer base. Most of them are continuing to do business with our company for their other burrowing and financial needs. We provide our service to you, as a first home buyer, throughout the process, which will include assisting you with your application for the First Home Owners Grant (FHOG).
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If you’re are a First Home Buyer, we could help you buy your First Home by Borrowing up to 100% (this system is called Parental Guaranty – terms & conditions apply) We promise to serve our first home buyers, by providing them the following, and much more.
Burrowing up to 97%
Providing optimal lending opportunities for people who have saved up to 5 % of the property value You can borrow up to 97% of the value of the property and most lenders do require genuine savings, therefore, we recommend that you save at least 5% of the purchase cost which avails you of a greater range of mortgage product options.
We could help First Home Buyers without the 5% genuine savings (terms and conditions apply)
Obtaining FHOG
First Home Owners Grant is currently $ 10,000 and no stamp duty. This grant ai available for Brand New Properties. The First Home Buyers who are looking at buying a house which was previously occupied, would be eligible for the stamp duty waiver.
The eligible for the First Home Owners Grant (FHOG) you must be an Australian citizen or permanent resident and you (and your spouse or partner) must not have previously owned a home in Australia.
If you are eligible for the FHOG we will be able to assist you in applying for the grant.
Supporting with First home buyers Family Pledge. This refers to the fringe benefits involved in
buying your first home from parents or grandparents.
The family pledge is a limited guarantee mortgage over property usually given by the First Home Buyers parents or grandparents which represent a 20% deposit in the purchase of your home.
The advantages to you of a family pledge are;
No money required to complete the purchase. The purchase price plus all costs can be included
in the loan amount
No genuine savings required
FHOG can be used for any purpose.
Avoid substantial loan mortgage insurance costs which could save you up to 20% of the loan amount
There are many costs you need to consider when calculating the amount of money, you need to complete the purchase of a home.
Government Fees – including stamp duty on transfer and the mortgage if first homeowners are not exempt in your state.
Legal Fees – including conveyance and property search fees.
Property related costs – including council and water rates and in the case of a unit purchase you will have strata fees.
You may also have to allow for other costs such as building and pest inspections.
The LMI fee applies only when you borrow more than 80% of the property’s value (on a full documentation loan), this covers the lender if for some reason you cannot repay your loan and the property is sold for less than the amount of the loan. LMI can be added to your loan amount for up to 100% of the property value.
Before settlement of your loan, you will need to provide evidence that the property you are purchasing is suitably insured. In the case of a unit purchase, this will usually be insurance taken out by the Strata Plan
It is not easy the next time around. You probably remember how difficult organizing your home loan can be. We can make it simple. We will help you take a good look at your existing home loan arrangements and quickly help you work out whether it’s right for your new circumstances or whether there are other options you should explore.
Do you want to pay off your new loan as quickly as possible?
Do you need to keep your repayments down because your family is growing?
Do you need extra features like a redraw facility or are you better off fixing a portion of your home loan for the next few years?
Do you want to keep your current home as an investment property and use the equity you have in it as a deposit?
Are you building your new home and need a construction loan?
We can find you simple answers to your questions, whatever your situation, and work out which type of loan suits you. You will get professional home loan advice from someone who knows his stuff inside and out. That’s why we have so many satisfied customers.
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