Buying your first home

Looking to buy or build your first home? We can help you secure a loan and apply for the First Home Owner Grant.

Getting on the property ladder.

Buying a home should be the goal of anyone looking to build their future, and increase their wealth. However, breaking into the market can be increasingly difficult for Australian’s – particularly in the major cities.

Looking to Buy a New Home? 

Buying a new home can be stressful for anyone. There are so many things to take a look at and even more things to look out for. We can certainly help you with this process and ensure that you get the best possible deal on your loan.

For more information about the Home Loans and the First Home Owner Grant, continue reading…

Understanding your financials

Getting a firm grip on your finances is important to ensure that you’re ready to pay your mortgage each month at the same time as other expenses.

With access to over 50 lenders, we are able to help customers borrow up to 99.9% of a property value including lenders mortgage insurance (LMI). This is ideal for those who have limited funds available for the deposit and costs associated with buying a property such as stamp duty and legal fees.

We also recommend getting pre-approved. By doing so, you not only send a positive signal to the realtor and home seller, you also get a better idea of the budget you are going to have to stick to, giving you greater buying power.

Speak to a broker

First Home Owners Grant

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You might be able to apply for the First Home Owner Grant, which helps Australians to get the funds they need to buy, or build their first home.

For more information about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, we have included helpful links below.

If you would like more information on how an TJ Finance broker can help you, contact us today!

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the NSW First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if your:

  • newly constructed home or a substantially renovated home has a total value less than $600,000
  • land for building and any dwelling you intend to build has a combined value less than $750,000.

To receive the grant when you buy your home:

  • you must be an individual, not a company or trust
  • you must be over 18
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

  • have previously owned or co-owned a home in Australia or
  • have received an Australian first home owner grant.

You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

You or one of the other first home buyers who purchase with must move into the new home within 12 months after buying the property, and live there for at least six continuous months.

If you’re buying land and building a new home, you must move in within 12 months after construction is complete.

If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the New South Wales electoral roll.

What’s considered a ‘new home’?

If you’re buying an existing home, you can apply for the grant if:

  • this is the first time the house has been sold and
  • the house has never been lived in before you move in, including by the builder or a tenant.

Recently renovated homes

Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:

  • most or all of the house was removed or replaced
  • this is the first time the home has been sold after those renovations
  • it hasn’t been lived in since being renovated, including by the builder or a tenant.

How We Can Help

The reason for our help becomes clear pretty quickly when you start looking at all the things that accompany a mortgage application.

Not only do you have to take your income (and partner’s if you’re making a joint application) into account, you also need to look at various home loan offers available.  

At TJ Finance, we research all your home loan options for you, and with access to over 50 lenders, we can also negotiate with the lender on your behalf, making sure you get a mortgage that matches your income, lifestyle and financial goals.

Contact Us

Our team will help you search, choose and settle your loan. Contact our team for more information on your loan options.

General Enquiries

1300 751 685

 

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Copyright © 2022-2024 TJ Finance Credit Representative 516625 of Australian Credit Licence 384704. Heritage Bank Discount Variable OO - Vaiable rate has an interest rate of 5.99% p.a. (comparison rate 5.99% p.a.). T&Cs, fees, charges and lending criteria apply. Rates displayed above are available for new borrowings of $150,000 and over only, owner-occupied, principal and interest, deposits 30% or more. Fees and charges may be payable. The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable. Loan subject to normal lending criteria and approval. IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

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