Helping Australians buy their first home

We help Australians buy their first home

Purchasing your first home is a significant milestone, and at Simple Lending, we're here to guide you through every step of the journey. We understand that buying your first home can be both exciting and daunting, which is why we offer tailored advice and support to help you navigate the complex property market. Whether you need assistance with understanding loan to value ratio (LVR), interest rates, or lenders mortgage insurance (LMI), we have the expertise to make your dream of home ownership a reality.

One of the first steps towards buying your first home is understanding your borrowing capacity. This involves a thorough assessment of your financial situation, including your credit history, income, and existing debts. By reviewing your bank statements and other financial documents, we can provide a clear picture of how much you can borrow. This helps in determining the loan amount you can comfortably afford, ensuring that you don't overextend yourself financially.

Access to a wide range of Home Loan options from banks and lenders across Australia is another crucial aspect. At Simple Lending, we pride ourselves on our extensive network, allowing you to access banks and lenders nationwide. This means you can choose from various loan products, whether you prefer a variable interest rate or a fixed interest rate. Additionally, we can help you explore options like an offset account, which can significantly reduce the amount of interest you pay over the life of your loan.

First home owner grants (FHOG) and other government incentives can provide valuable financial assistance when buying your first home. These grants can help cover costs like stamp duty and other fees associated with the purchasing process. Our team will ensure that you are aware of all available grants and guide you through the application process to maximise your benefits.

Another important consideration is lenders mortgage insurance (LMI), which protects the lender if you default on your loan. If your deposit is less than 20% of the property's value, LMI will likely be required. However, we can help you explore ways to minimise this cost or even avoid it altogether by improving your loan to value ratio (LVR) through strategic financial planning.

Getting pre-approved for your first Home Loan is a crucial step that simplifies the buying process. Pre-approval not only gives you a clear idea of your borrowing capacity but also strengthens your position as a serious buyer in the eyes of sellers and real estate agents. With our streamlined application process, obtaining pre-approval has never been easier.

Once you're ready to apply for a home loan, our team will guide you through each stage of the application process. From gathering necessary documents like bank statements and proof of income to submitting the application and negotiating interest rate discounts, we ensure a smooth and efficient experience. Additionally, if you're considering investment loan options for your first investment property, we can provide tailored advice on investment loan applications to help you make informed decisions.

Understanding the intricacies of interest rates is vital when applying for a home loan. Whether you're interested in a variable interest rate, which fluctuates with market conditions, or a fixed interest rate that remains stable over time, we’ll help you choose the option that best aligns with your financial goals. We also offer insights into interest rate discounts that could save you money in the long run.

Buying your first home is a monumental step, and Simple Lending is committed to making the process as straightforward and stress-free as possible. Our expertise in accessing Home Loan options from banks and lenders across Australia, combined with our personalised service, ensures that you receive the best possible advice and support. Contact us today to get pre-approved and take the first step towards owning your dream home.

Let's talk about some of the schemes to help First Home Buyers

When it comes to buying your first home in Australia, there are a few schemes that can lend a helping hand to Australians. Let's dive into three key ones: the First Home Owner Grant (FHOG), the Home Guarantee Scheme (HGS), and First Home Buyer Stamp Duty Exemptions and Concessions.

First Home Owner Grant (FHOG):

The FHOG is like a boost from the government for first-time home buyers. If you qualify, you could receive money to put towards your new home. Here's how it typically works: Each state or territory has its own FHOG scheme, so the rules may vary depending on where you're buying. Generally, you need to be an Australian citizen or permanent resident, and neither you nor your spouse should have previously owned property in Australia. There's usually a limit on the property value you're purchasing, and you'll likely need to live in the home for a certain period.

Home Guarantee Scheme (HGS):

The HGS is another way the government assists first-time home buyers, especially those without substantial savings for a deposit. It acts as a safety net, enabling you to secure a home loan with a smaller deposit than usual. Part of the HGS is the First Home Loan Deposit Scheme (FHLDS), which allows eligible first-time buyers to obtain a home loan with a lower deposit and without having to pay lenders mortgage insurance (LMI).

First Home Buyer Stamp Duty Exemptions and Concessions:

Stamp duty is a tax typically paid when purchasing property. However, as a first-time home buyer, you might qualify for exemptions or concessions, reducing or eliminating your stamp duty payment. The criteria for these exemptions and concessions vary by state. Generally, you'll need to intend to live in the property yourself, and there may be a cap on the property value.

These schemes are designed to support you on your journey to owning your first home in Australia. If you're exploring homeownership, consider reaching out to Simple Lending to learn more about how these schemes can benefit you.