First Home Loan for First Home Buyers

Livingstone Financial can make buying your first home, and getting your first home loan, easier by helping you through each of the following steps.

• How much deposit will I need?
• How do I arrange the first Home Buyers incentives?
• What are all the costs of borrowing?
• How much can I borrow for my first home loan?
• How much will the repayments be?
• Finding a first home byers loan

How much deposit will I need for my first home loan?

Usually you only need around 5% to 10% of the property's value saved as a deposit, but some lenders also like to see six months regular saving history. Your Livingstone Financial Mortgage Broker can work out exactly how much deposit you will need.

How do I arrange the first home buyer incentives?

Both the Federal and State Governments offer generous incentives to first home buyers. Your Livingstone Financial Mortgage Broker can help you arrange the first home owner grant and stamp duty concessions.

Check the relevant state website for futher information or talk to your Livingstone Financial Mortgage Broker.

What are all the costs of buying?

Your costs of buying and financing yor first home include

• Lenders home loan application fee
• possibly mortgage insurance if you are borrowing more than 80% of the property value
• Government duties  such as stamp duty
• your own costs such as conveyancing and inspection costs

How much can I borrow for my first home loan?

How much you can borrow depends on how much deposit you have saved and your current income.

With our specialist software, your Livingstone Financial Mortgage Broker can work out quickly and easily approximately how much you can borrow. How much will my repayments be?

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Finding your first home loan

Generally, basic low interest loans without the costly "extras" are best suited to first home buyers. They keep your interest payments and fees to a minimum.

Your Livingstone Financial Mortgage Broker can help you choose a loan solution that is right for you, without all the running around. If you’re keen to get started now, read our handy home loan guide on the different types of loans available.

Check with your Livingstone Financial Mortgage Broker whether you qualify for a professional package which can offer great value and discounted rates.

If you're concerned about what would happen if interest rates were to rise, but want the flexibility to make extra repayments, a part fixed / part variable or split loan can be an ideal solution.

Several lenders now offer flexible family friendly loans, guarantee loans, that enable family members to help out with your finance, if things are tight.