First Home Buyers Grant in East Melbourne, Victoria | Loan service

First Home Buyers Grant

Locality: East Melbourne, Victoria

Phone: +61 1800 979 718

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25.01.2022 Everything you need to know about the First Home Buyers Grant

11.01.2022 Things to consider when buying your dream home. Congratulations! Youre thinking about buying your first home. To help you make the right decision, below are some key issues to consider. 1. Affordability... Work out how much you can afford to spend before you even look, and only look at homes within your price range. 2. Aussie can help Aussie represents up to 19 lenders, including the major banks providing borrowers with a wide, credible snapshot of the market. 3. Find the home thats right for you Physically inspecting properties is the best way to know if a home is the right for you. It pays to be flexible as some locations or homes you view may offer benefits you hadnt considered. Meet with an Aussie broker and youll get access to a FREE property report from RP Data. 4. Do your research Ensure the land, home or apartment you buy is not over-priced. Check the prices paid for other properties in the area where you are looking. An Aussie broker can also provide you with a FREE property or suburb report worth $89.95 from RP Data. 5. Future rate rise If youre worried about interest rates increasing in the near future you can split your loan between variable and fixed rates - which can often be done at no cost with a range of home loan providers like Aussie. 6. Repayments Choose to make fortnightly repayments, rather than monthly. Paying fortnightly may save you years and thousands of dollars in interest over the life of the loan. 7. Fees and changes Choose a loan with no on-going fees and charges or select a loan with an annual fee offering access to offset accounts, credit cards and discounts on other banking products. Your Aussie broker will be able to guide you through this decision making process, ensuring your selected home loan provides the futures most important to you. 8. Dont overcommit Talk to your Aussie broker to make absolutely sure your home loan repayments do not overly impact on your lifestyle. You do not want to eat baked beans for the next 25 years!

09.01.2022 RBA keeps interest rates on hold at record-low 0.1 per cent Australia's interest rates will remain at the historic low of just 0.1 per cent for the rest of 2020 after the nation's central bank decided not to slash the official cash rate further Property prices rise in every capital city in November... Property prices in every capital city increased over November, as the Reserve Bank cut interest rates to record lows and restrictions to limit the second wave of coronavirus outbreaks started to be lifted

09.01.2022 When should I meet with a Mortgage Broker? Thats easy. Any time is the right time to see an FHBG Mortgage Broker. Whether youre buying a new home, investing or thinking about refinancing your current loan, an FHBG Mortgage Broker can recommend the loan thats right for you.... If youre buying a new home or investment property we would recommend seeing an FHBG Mortgage Broker before you start looking for your property so they can help you understand what you can afford to borrow. But if you have already found a property we can definitely still help you. What about first home buyers? Wont I get treated just like everyone else? We know that buying a first home can seem complex. Your FHBG Broker will take the time to explain how the home loan process works. Well let you know how much you can afford to spend, and when you find the right property well track down the right home loan for your needs. Your FHBG Broker will even complete the paperwork on your behalf and help you apply for the First Home Owner Grant.

08.01.2022 Getting and using the First Home Owners Grant The First Home Owners Grant (FHOG) is a one-off tax-free Federal Government payment available to most people buying a first home in Australia. The First Home Owners Grant: Something for nothing The First Home Owners Grant (FHOG) is great news for first home buyers. Its a one-off, tax-free payment to people buying a first home in Australia, however conditions do apply.... Heres the fine print that applies in most though not all areas in Australia: You must be an Australian citizen or permanent resident buying or building your first home in Australia. The property you buy must be a recognised house, unit or flat specifically designed for people to live in. You or your partner must not have purchased a property in Australia before. You must occupy the home within 12 months of settlement or within 12 months of building completion if its a newly built home. You must apply for the grant within 12 months of settlement or building completion. Contracts must be exchanged between the buyer and seller before the cut-off dates, and the money is paid at the time of settlement. How to get the first home owners grant? Apart from the conditions above, other conditions may apply depending on the state or territory that you are buying in. Thats because state and territory governments hand out the FHOG on behalf of the Federal Government. In Victoria, for instance, the grant is only available if you pay $750,000 or less for your first home. In NSW, the grant is worth $15,000 (falling to $10,000 from 1 January 2014), but you must buy or build a new home the FHOG isnt available to NSW first home buyers purchasing an established home. Some state and territory governments also offer additional bonuses for first home buyers like stamp duty concessions. Ask us today about the perks and lurks that you should know about, or take a look at the website of the revenue office in your state or territory. Well do the paperwork for you If you arrange your loan through Aussie, well do the paperwork for you wherever you live. Well also make sure you get any bonuses or concessions offered to first home buyers by your state or territory. Use the FHOG as a deposit The FHOG is a good chunk of money, and lenders will often consider it as part of your savings and deposit. Ask us today how you can do this.

06.01.2022 BUYING A HOME WITH A 5% DEPOSIT It’s possible, this is how you do it. Saving up a big deposit can look daunting to buy a home but you might only need 5%.... Trying to save a deposit can be hard especially if you’re paying rent, but don’t give up, there are ways it can be done so you can get in to your home sooner. The 20% myth Yes, banks would like you to have a 20% deposit when you’re buying a property but there are some lenders that offer loans of 90% or even as high as 95% of the property value, that means you can buy a property with a 10% or 5% deposit. What you need to know The amount of money you borrow relative to your property value is known as Loan to Value ratio or LVR, if your LVR is on the high side, meaning you have a less than 20% deposit, the bank can view this as a greater risk. If your LVR is on the high side your lender is likely to make it a condition of your home loan that you have mortgage insurance (LMI). What is LMI? LMI or Lenders Mortgage Insurance protects the lender, not you, this is a way for the lender to lower the risk on a high LVR property, anytime you have a deposit lower than 20% it is most likely you’ll have to have LMI. LMI is something your lender will organise, it is an extra cost but your lender will let you capitalise the cost, that means the LMI premium will be added to your home loan letting you pay it off over time. Do you have good credit? When you need to take out LMI your lender and the LMI insurer will look at your credit score, if there are any problems you’ll have to explain it to the insurer. If you would like to know more about buying a property with a low deposit or LMI, contact us at H&C Finance or send us a Facebook message.

03.01.2022 What options are available for first home buyers to help with covering the cost of the deposit or repayments? A redraw facility and offset accounts are useful tools and could help you pay off your mortgage sooner if used wisely. A redraw facility allows you to take back any money that you have overpaid into your home loan (e.g. if your minimum home loan repayments for the year are $15,000 and you manage to pay in $20,000 then you would have $5,000 available in redraw.) Don...t forget that the reduced interest charges you were enjoying by overpaying will disappear when you redraw the money because your effective loan balance will go up. It can also take time to access your funds via a redraw facility and you may also be charged a fee each time you use the redraw facility. Limits are often imposed on the amount of each withdrawal as well as the number of redraws available annually. Redraw is, however, commonly a standard feature even on basic loans. See more