Home Buying
With Confidence
✔︎ Stress-free journey
✔︎ Wealth-building steps
✔︎ Decode financial jargon
✔︎ Quick loan pre-approval
Your Path to Homeownership Just Got Clearer
Having used our Compare tool, you’re not just closer to a home loan but closer to finding your perfect match in home financing. As you explore the home loans we’ve selected to best suit your needs and navigate through our First Home Buyer Guide, each insight brings your dream home — and the ideal loan to finance it — into sharper focus.
The Home Buying Journey: Perfectly Paired for You
Join us on a walkthrough designed to make your first home buying journey the perfect match for your individual needs.
Your Journey to the Ideal Home Loan
Preparing to Buy
Before you can find your perfect home loan match, you need to be equipped with all the necessary information. We break down everything you need to know—from determining your borrowing capacity to understanding costs like Stamp Duty and the First Home Buyers Grant. Our guidance ensures a solid foundation as you navigate toward pre-approval and step onto the path of homeownership
Home Hunting
The hunt for your dream home requires more than just love at first sight. Armed with an understanding of mortgage repayments and property evaluations, our Lending Specialists assist you every step of the way. Not only will we provide comprehensive property reports and help you ascertain the true value of your potential home, but we’ll also guide you in choosing the best loan product to suit your financial standing and in navigating the offer process seamlessly.
Making An Offer
Finding “the one” is thrilling, but making a successful offer requires strategy and expertise. Our Lending Specialists support you in making an offer contingent on mortgage approval and necessary inspections, while also negotiating optimal terms. From the moment your offer is accepted to the final paperwork, we ensure transparent communication and expert guidance, making the entire process stress-free and rewarding.
Your Guide to First Home Ownership
This carefully curated guide is your next step in finding the perfect match for both your home and financing needs. Designed with first-time home buyers in mind, it outlines every facet of the home-buying journey, equipping you with the knowledge and confidence to navigate homeownership’s complexities effortlessly.
Checklist & Tips
Your path to the perfect home loan match requires guidance. Our checklists offer clear, actionable steps to ensure you’re always on the right track. From the start of your journey to the final signature, these resources ensure your path is seamless and straightforward.
Comprehensive Home Loan Guides
In the realm of home loans, being well-informed ensures you find your ideal match. Our comprehensive guides offer top-tier advice and insights for every borrower, unveiling pathways meticulously crafted for your unique journey.
Quick Answers at Your Fingertips
Questions about your perfect home loan match? Dive into our FAQ section for precise answers to your burning queries.From loan types to interest rates, gain the clarity you need to proceed with confidence.
Here Are the Home Loan Products Best Suited to You as a First Home Buyer
You can dive deeper into the home loan product comparison and explore unique features and benefits, by selecting the loans you want to compare below.
Our First Home Buyer Loans
Evaluate your options with our Deposit Estimator
Preparing for your home buying journey is easy with our Deposit Comparison Estimator.
Simply input your details and receive an accurate estimation of your deposit requirement.
What to know when you're a First Home Buyer
As a first home owner, which loans are best for me?
The best home loan for any borrower is one that you can afford, with manageable repayments that will not leave you financially stressed each month.
As a first home buyer, looking through all the mortgages on offer can be daunting. In fact, the whole process can be very emotional. Initial excitement can quickly turn to confusion, then anxiety, overwhelm, and even confusion. But don’t worry, we are here to help.
We can help you get to know the terminology surrounding mortgages and how to make all the calculations. At Mortgage House we understand being a first home owner means you probably won’t understand all the steps required to make your dream come true. We can walk you through these steps, starting with working out how much you can borrow, and what that means for weekly or monthly payments. Once you have that information, you can start looking for the house you have always wanted, with clear understanding of the first buyer loan products available from Mortgage House. We will guide you through the offer and purchase stages to ensure you feel that you are getting the best loan underpinned by the best support from our specialists.
Are home loans complicated?
The actual concept of a home loan is simple. It is all the steps involved with navigating the best home loan for your needs that can get complicated for a first home buyer. That’s where we come in. As one of Australia’s largest independently owned non-bank lenders, we understand the mindset of first home buyers and can easily guide you through the process. We have access to a range of first-time buyer home loans that can specifically suit your needs as you enter the property market for the first time.
Finding the best one can be tricky, so being able to compare up to five at a time, using our experience, award-winning home loan comparison model, and the same resources as traditional brokers, will be a reassuring way to start. Our main goal is to help you find the lowest rate loan options to match your circumstances and guide you through the process seamlessly. If you have found your dream first home, we want to help you secure it and start your new life as soon as possible. Choose an uncomplicated experience with our support, tools, knowledge and experience to find great comparison deals quickly.
How does the first home owner grant work?
Since the dawn of this century, being an Australian first home buyer has meant having access to a first home owner grant. They started as an offset to the GST and have been used as a mechanism by most Australian States and Territories to stimulate the economy, create jobs and make mortgages more affordable for the first home buyer. They usually take the form of a one-off grant to those who are eligible.
Income and age aren’t usually a factor, and States will often put a cap on the price of the house to ensure those who really need it have access to it. Some States might also make the grants higher for first home buyer mortgages in regional areas, or for new homes only.
In most States, you will need to live in the house for a minimum of six months, and it must be your primary place of residence. To find out whether or not you are eligible, or to work out exactly how the first home owner grants work in your State, contact us, or visit www.firsthome.gov.au
What are my home loan options?
There are four main kinds of loans that can be available to the first home buyer. Knowing how each of them works can be more than just handy, it can save you money, now and in the future. The first one is the variable rate home loan. This can be a good way to leave some money in your pocket, and even give you the chance to pay it off sooner if you want to. The rate referred to is the interest rate, which will usually be lower than a fixed rate loan.
As a first home buyer, having a variable rate loan means you can pay more off if you want, without penalties, but it also means the rate may change, either up or down. That can make things hard when it comes to budgeting. With a fixed rate loan, you can fix the interest rate for between one and five years, and renegotiate after that if you want. These mortgages can make it easy for budgeting, as you know exactly how much your repayments will be each time they are due.
If interest rates rise, yours won’t, however some fixed rates can be higher than variable rates. Some of our fixed rate loans allow you to make extra payments if you wish. Having the same access to mortgages as the large lenders also means you can split your loan into periods of fixed and variable interest rates, if you want to, subject to a few conditions. And finally, construction loans give you the flexibility to draw down your loan as it is being built. Feel free to get in touch with a first home buyer specialist at Mortgage House to provide advice about the best home loan option for you, based on your exact circumstances.
What is Stamp Duty?
When you are a first home buyer, the reality of having to pay stamp duty can be a real pain. Stamp duty in Australia is often different in each State. It is basically a tax the State charges on the sale value. It is calculated on the higher of either the purchase price or the current market value. The cost of it can be quite high, and it can often come as a surprise to a first home owner. Use our stamp duty calculator to help limit your surprise. Our Mortgage Specialists can provide you with relevant Stamp Duty Calculations so you can stay informed.
Repayment Calculator
| Mortgage Deal | Interest Rate | Annual Fee | Comparison Rate | Repayments | ||
|---|---|---|---|---|---|---|
| Monthly | Fortnightly | Weekly | ||||
Important Disclaimer: This information is intended as a guide only. The calculation of fortnightly and weekly instalments varies with the specific loan product. Higher loan repayments will be required on principal and interest loans where the instalment calculation is based on half the monthly payment for a fortnightly payment or a quarter of the monthly payment for a weekly payment. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.
Why Choose Mortgage House?
Remove The Stress
With Mortgage House, your journey to finding the perfect home and loan match is stress-free. Our streamlined and intuitive processes are designed to eliminate guesswork, reducing stress at each stage.
Build Your Wealth
Start your journey with us and lay the foundation for future prosperity. Our expertise empowers you to not just buy a home, but to make a sound financial investment, perfectly aligned with your long-term goals.
Empower Your Journey
Navigating the mortgage landscape can be daunting, but we’re here to demystify it, ensuring you’re matched with options you can truly understand. We equip you with the knowledge, ensuring you’re always in the driver’s seat.
Discover Borrowing Power
Be ahead of the curve with our tools and guidance, which help you accurately determine your borrowing capacity. Know exactly what you can afford, perfectly matching your budget, even before you step into an auction.