Buying your first home

Buying your first property is probably the most important decision in your life and getting the right advice and home loan is as important as choosing the property itself. With access to over 50 lenders, our team help Australians get a good deal on their home loan.

Getting on the property ladder.

Buying a home is the most important decision in your life and choosing the home loan is as important as choosing the property itself, but do not be intimidated by all the options available to you.

At Best Mortgage Rates, we help first home buyers prepare themselves for the property market by guiding you through the complete home loan process, including First Home Owner’s Grant.

With access to over 50 lenders, including major banks and non-bank lender, our team

If you’re a first home buyer looking for finance, contact our team today to discuss your options.

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 Aqua Home Loans 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.

Our Difference

With access to over 50 lenders, our team can help customers borrow up to 99.9% of a property value including lenders mortgage insurance (LMI).

This allows us to help those who have limited funds available for the deposit and costs associated with buying a property such as stamp duty and legal fees.

Speak to a broker

Contact Us

Our team will help you search, choose and settle your loan. Chat to one of our loan specialists at a time that suits you.

General Enquiries
1300 968 999

Email
enquiries@bemc.com.au

Terms & Conditions

Copyright © 2020 Best Mortgage Rates Pty Ltd is an authorised credit representative 476238 of Australian Credit License Number 383640
Citi Bank Fixed Rates with Mortgage Plus 2-year Fixed rate has an interest rate of 2.19% p.a. (comparison rate 3.12% p.a.). Fixed Rate loans must be combined with Standard Variable/Standard Variable Offset (Owner Occupier and Investor) to be eligible for Mortgage Plus. Fixed rate quotes are held 60 days from the day the application is submitted. If settlement occurs after 60 days, the prevailing fixed rate will apply. Fixed rates revert to the Standard Variable rate at the end of the fixed term. Comparison Rate calculated on a loan amount $150,000 over a term of 25 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Lenders Mortgage Insurance is applicable for loans with an LVR over 80%, unless the option LVR between 80.01%-85% (Without LMI) is selected. Loans with LVR between 80.01%-85% (Without LMI) are not available to non resident loans or loans where income is declared for loan assessment is in a foreign currency. For all loans over LVR 80% principal and interest repayment is required. 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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