Compare home loans and buy with confidence.
We will assess your needs and match you to a home loan that best suits your situation and long term financial goals.
Get a Good Deal
Compare 100’s of home loans from 40+ lenders, including the big banks.
A dedicated specialist will help with the paperwork, saving you time and hassle.
Answer Your Quesitions
Clearly explain the fees, costs and conditions associated with home loans.
Make it Easy
Access to professional legal and conveyancing services.
Understand your borrowing powerWe will calculate your maximum borrowing
power and how much you can afford to repay.
Be ready come settlement day.We help prepare paperwork & support you through to settlement.
Be more informed.Our suburb sales report can be a valuable tool when you are researching a purchase.
FAQs on Buying a First Home
The deposit required depends largely on the type of home loan and, of course, the lender you select. As a general rule, if you are an owner-occupier you will require 5-10% of the purchase price as a deposit. If you are an investor, you will ideally require 10% of the purchase price, although it’s possible to purchase with less
We can help you find which of the hundreds of home loans offered by our panel of lenders will best suit your needs.
Both have their pros and cons. Variable loans offer flexibility and additional features such as a redraw facility (the ability to take out any extra money that you have put in), while fixed rate loans offer greater peace of mind for borrowers concerned about interest rate rises. First Avenue Wealth can help you weigh up your options and choose the right home loan for you.
Lenders Mortgage Insurance (LMI) is insurance that protects your lender if you’re ever in the situation where you’re no longer able to make your repayments. If you’re looking to buy a home and have less than a 20% deposit, you may be required to pay LMI. LMI is calculated as a percentage of the loan amount and your LMI will vary depending on your Loan to Value Ratio (the proportion of money you intend to borrow compared to the value of the property) as well as the amount of money you wish to borrow. Lenders Mortgage Insurance costs differ depending on the loan, lender and the LMI provider. Stamp duty and GST are both payable on Lenders Mortgage Insurance and these are generally included in the total quoted price for your LMI. Our expert mortgage brokers will explain and work with you through all of these costs so that you understand how LMI will impact your home loan.
There’s a lot to consider on top of a home loan, such as paying stamp duty, conveyancing fees and bank fees. Being prepared for these costs will make sure you don’t over-stretch yourself when buying your first home. The expert advice of your broker can be a huge help when it comes to planning for all the costs involved so that you don’t end up with any unpleasant surprises!