Breaking News......... Genuine No Deposit Loans are now available in ALL Post Codes in Australia for First Home Buyers!

Breaking News......... Genuine No Deposit Loans are now available in ALL Post Codes in Australia for First Home Buyers!

This is great news for first home buyers. Previously, the lenders would only do 100% loans in capital cities and major regional centres, but now 100% loans (for First Home Buyers only) are available in ANY post code in Australia at basic variable rates. This is fantastic news for young couples in regional areas who have been trying to get into their own home.

Call us now on 1300 TACKLE for a FREE phone quote.

Tips for First Home Buyers

The hardest thing for most first home buyers is saving a deposit. Well the good news is that you no longer need a deposit or genuine savings. Genuine No Deposit Home Loans are now available and have made life a lot easier for first home buyers and investors alike. Go to our No Deposit Home Loans page to find out more.

Suitable Loans for First Home Buyers

• 105% loans: You can borrow all of the purchase price plus another 6% to cover fees. You can even keep the $7000 grant to do with as you please.
• 100% loans: Borrow 100% of the purchase price. Depending on what state you're buying in, the FHOG can be used to cover most of the fees and mortgage insurance.
• 97/3 loans: You need 3% genuine savings but your mortgage insurance will be much lower. In addition the mortgage insurance can be added on to the loan taking it up to almost 100%
• 95/5 loans: If you have 5% deposit, none of it needs to be genuine savings. It could be a gift, inheritance etc. Mortgage insurance will be lower again and can be added to the loan taking it up to around 97%
• 80/20 loans: Once you have 20% deposit no mortgage insurance is required at all.
• Family Equity Loans: If you have a family member willing to put up their own property as security then Family Equity Loans are great. For example you parents own their own home. Your parents only need to give the lender a limited guarantee for 20% of your purchase price plus fees. They are only responsible for 20% of the debt and as your equity increases with time they can be released from their guarantee. In effect you are borrowing 100% but there is no mortgage insurance- a great deal!

Before you go shopping for your first home, you really should have your finance pre-approved. See The Power of Pre-Approvals to find out how pre approvals can save you thousands.

The current real estate market at the lower end of the price range is in great demand from first home buyers and investors alike. You MUST have a pre approval to stand a chance. Many properties now have multiple offers and the sellers will always go with the pre approved offer. Don't miss out. A pre approval costs you nothing and obliges you to nothing but gives you a huge advantage over other buyers, and best of all it can be done over the phone no matter where you live.

Call now or fill in the contact form at the top of this page.

For a FREE phone quote and detailed analysis of your own particular scenario fill in the contact form on this page!