First home buyers guide

We understand that buying your first home is a big step. To make it stress free we've put together some ideas to help you. Our Auspak mortgage brokers will also guide you through the process.

Borrow up to 100% of the property value
Equity Finance Mortgage (EFM)
Family guarantee
First Home Owners Grant (FHOG)
Stamp duty waivers or concessions

Tools for first home buyers
Inspection checklist
Moving checklist
Application process
Borrow up to 100% of the property value

Even without a deposit you may be able to borrow 100% of the purchase price of your new home.

You will need to show a good savings history over the previous six months, and rent payments may be counted as savings.

If you qualify for the FHOG, this money can be used towards your purchase costs.
Equity Finance Mortgage (EFM)

Enables you to reduce your home loan repayments or increase your borrowing capacity. More...
Family guarantee

A family guarantee allows certain family members to use the equity in their home as additional security for a portion of your loan amount.

This means you may be able to buy a property sooner, avoid paying the premium for Lenders Mortgage Insurance and maximise the amount you can borrow.

For example

With family guarantee
Loan amount ÷ (Prop value + family guarantee) x 100 = LVR
$100,000 ÷ ($100,000 + $35,000) x 100 = LVR 74%

Without family guarantee

Loan amount ÷ Prop value x 100 = LVR
$95,000 ÷ $100,000 x 100 = LVR 95%


First Home Owners Grant (FHOG)

The First Home Owners Grant is a one off $7000 grant paid to those who meet certain criteria when purchasing their first home.

If you qualify for the FHOG, this money can be used towards your purchase costs. Detailed information about the FHOG for each state and territory is available from www.firsthome.gov.au

We will apply for FHOG on your behalf if you include the FHOG application with your loan application.