First Home Buyers

Deciding to buy a home is one of the biggest steps you will make in your life and it is likely to be the most expensive thing you will ever buy! So it is important to make sure you fully understand everything that is involved before you take that step.

First Home Buyers

Deciding to buy a home is one of the biggest steps you will make in your life and it is likely to be the most expensive thing you will ever buy! So it is important to make sure you fully understand everything that is involved before you take that step.

Things to consider

Are you absolutely sure you want to buy rather than rent?

How big a deposit will I need to get a mortgage?

What home loan options are available to you

Are there any low-cost options you could take advantage of?

How does the First Home Owner Grant (FHOG) work?

Things to consider

Are you absolutely sure you want to buy rather than rent?

How big a deposit will I need to get a mortgage?

What home loan options are available to you

Are there any low-cost options you could take advantage of?

How does the First Home Owner Grant (FHOG) work?

MORTGAGES

OTHER FEES

There are so many different types of mortgages around these days that it can become very confusing as to which is the best for you. At First Select Finance we can offer you help to decide which might be the best for you.

Guarantor Home Loans
Self-Employed Home Loan
5% Deposit Home Loans

Loan application or establishment fee
Mortgage registration & transfer fees
Stamp duty land tax

Buildings insurance
Mortgage insurance
Conveyancing & legal fees
Pest & building inspections
Council and utility rates
Moving in costs

TYPES OF INTEREST RATES

HOME BUYING PROCESS

When choosing a mortgage you will face different types of deals depending on the interest rates. In First Select Finance our experienced and qualified advisors will guide you to find the best rate deal for you, in order to match with your affordability and your needs.

Fixed – rate is fixed for a set number of years
Standard Variable rate – normal interest rate your mortgage lender charges. Changes may occur after a rise or fall in the RBA cash rate
Offset – link your saving account to your mortgage so you only pay interest on the difference

Split loans-A split loan divides your loan into fixed and variable rate portions
Interest only- or a set period, the loan payments comprise of only interest without any repayment of principal

Determine what you can truly afford
Look for a suitable property and make an offer
Figure which mortgage is right for you

Get an Agreement in Principle from the lender
Hire a solicitor
Surveys
Arrange buildings insurance / life insurance
Finalize your mortgage
Exchange of contracts
Completion

MORTGAGES

There are so many different types of mortgages around these days that it can become very confusing as to which is the best for you. At First Select Finance we can offer you help to decide which might be the best for you.

Guarantor Home Loans
Self-Employed Home Loan
5% Deposit Home Loans

OTHER FEES

Loan application or establishment fee
Mortgage registration & transfer fees
Stamp duty land tax

Buildings insurance
Mortgage insurance
Conveyancing & legal fees
Pest & building inspections
Council and utility rates
Moving in costs

TYPES OF INTEREST RATES

When choosing a mortgage you will face different types of deals depending on the interest rates. In First Select Finance our experienced and qualified advisors will guide you to find the best rate deal for you, in order to match with your affordability and your needs.

Fixed – rate is fixed for a set number of years
Standard Variable rate – normal interest rate your mortgage lender charges. Changes may occur after a rise or fall in the RBA cash rate
Offset – link your saving account to your mortgage so you only pay interest on the difference

Split loans-A split loan divides your loan into fixed and variable rate portions
Interest only- or a set period, the loan payments comprise of only interest without any repayment of principal