Home Loans for the First Home Buyer

First Home Buyer Loans - Perth, WA

Buying your first home can be a wonderfully rewarding experience, and we can help you achieve your dream sooner than you would expect.

Our home loans WA specialist will carefully help work out your affordable borrowings, your repayments, and the different scenarios and related home loan products available for you. We work with you to get a full understanding of what you want to achieve. In this way, we can help find a solution that suits your needs taking into account relevant factors specific to home loans Perth or home loans WA (Western Australia) as a whole.

We’ll explain how you can pay off your home loan sooner, or other options like repayment holidays, should circumstances such as pregnancy arise.

We’ll process the First Home Owner Grant (FHOG) paperwork and claims for other rebates that you might be entitled to.

No Deposit Home Loans

We can arrange a Home Loan where you may be able to borrow up to 100% of the property value. No need to wait until you’ve saved a deposit – get in now. Depending on the purchase price of your property, you may just need to have saved enough to cover stamp duty, fees and insurance and show us that you are able achieve good savings.

Family Equity Loan

This loan has been designed to help people with stable employment, creditable rental history and clean credit history to purchase a home with little or no deposit requirements.

Here's an example of a first home buyer home loan

Simon and Lisa are both working full time. Simon earns $43,000 p.a. and has been with his employer for 5 years. Lisa has been with her employer for the past 12 months and is earning $37,000 p.a. They are saving for their wedding and are paying off a car loan of $15,000. Simon and Lisa both qualify for the First Home Owners Grant (FHOG) and First Home Plus, and have found a property in a suburb of Perth WA they want to buy for $400,000. So, how did we help them?

Purchase Price - $400,000

Fees & Stamp Duty - $1,500*
* Fees & Stamp Duty - $1,500 Note: From 9th May 2007eligible FHOG recipients now are exempt from Stamp duty under $500,000 with a sliding scale to $600,000

Total Cost of Purchase - $401,500 - Total home loan required

Simon and Lisa’s income qualified them for a home loan of $401,500; however, as they did not have any savings they did not qualify for Lenders Mortgage Insurance. Hence the maximum they could borrow was 80% of the value of the property, amounting to $320,000.

Family Equity allowed Simon and Lisa to borrow the additional $74,500 they required by using Simon’s parents as guarantors. Bob and Jane provided a limited guarantee supported by a mortgage over their home for $74,500 to cover the shortfall.

Market Value	Loan Value Ratio	Loan Amount
$400000	80%	$320,000	Simon and Lisa’s Property
$650,000	11%	$74,500	Mum & Dad’s Property
		$7,000	First Home Owners Grant
		$401,500	Total Cash Available

Therefore Simon and Lisa were able to purchase their home with some help from Mum and Dad, even though they had not saved a deposit themselves.

Home Loans for the First Home Buyer

First Home Buyer Loans - Perth, WA

No Deposit Home Loans

Family Equity Loan

Here's an example of a first home buyer home loan

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