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Buying your first home is exciting, but it’s a big step to take and one that comes with many questions and decisions. The first big question is how much you can borrow and what your likely repayments will be.
That’s where an AFG broker comes in. Your broker is there to do all the legwork for you. An AFG broker will be able to compare home loans across over 800 products available from Australia’s leading lending institutions.
And because you’re a first home buyer, you may be eligible for a first home buyer grant. This is a grant available to Australian citizens or permanent residents who wish to buy or build their first home, which will be their principal place of residence within 12 months of settlement. As grant conditions vary from state to state, contact an AFG broker to find out how much grant money you could receive.
Spend a few moments checking out our clever online calculators, the latest industry news to keep two steps ahead, and explore our range of home hints and tips. Then just get in touch with us. We look forward to walking you through your available options.
We’re all unique when it comes to our finances and borrowing needs. Get an idea of how much you could borrow and what your likely repayments would be with our online calculators. An AFG broker will then help determine the next steps on your road to owning your own home.
Loan types and loan features will give you a good idea of the main options available, but because there are hundreds of different home loan products available, and individual circumstances are all different, contact us today to take a look at your options.
A deposit is usually between 5% – 10% of the value of a property, which you pay when signing a Contract of Sale. If you can’t organise a deposit in time, your conveyancer/solicitor may be able to arrange a deposit bond until settlement – although you’ll have to pay extra for this. If the deposit requested is 10%, your conveyancer may be able to negotiate this down to 5%.
Go to our Repayment Calculator for an overall idea of what your likely repayments may be, but because there are so many different loans available, some with lower introductory rates, an AFG broker can help you navigate your options.
Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will save dollars and time off of your loan.
This is a grant available to Australian citizens or permanent residents who wish to buy or build their first home, which will be their principal place of residence within 12 months of settlement. As grant conditions vary from state to state, contact an AFG broker to find out how much grant money you could receive.
There are a number of fees involved when buying a property. To avoid any surprises, the list below sets out all of the usual costs: