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Buying your first home

Speak with a qualified mortgage broker about your loan options and arranging pre-approval


Today's Lowest Interest Rates For First Home Buyers

Last updated 6:00am, 28th Sep 2021

First Home Buyers

As a first home buyer it is important to understand how much you can afford to borrow. To give you confidence in your borrowing power, we will work with you to arrange a no obligation pre-approval through one of our 40 different lenders.

First home buyer may also be eligible to benefit from one of number of different government grants and schemes. The services of a mortgage broker, such as Get a Better Rate, will help you better understand which offers you might be entitled to.

These include the First Home Owner Grant, for the purchase of new dwellings for investment or owner occupation. The First Home Buyers Assistance Scheme, offering a full or partial expectation on transfer duty (stamp duty) and the First Home Loan Deposit Scheme.

You may be eligible for all of some of these offers and our mortgage brokers will work with you to understand your options.

Home Buyer FAQ

How much do I need for a deposit for a home loan?

When purchasing an owner occupied property lenders will require you have a minimum 5% deposit; for investment properties the despoit most lenders will require is 10% of the property price.

What is a lenders mortgage insurance?

Lenders Mortgage Insurance ('LMI') is an insurance policy which protects the bank against any loss in the event of default by the borrower. Although the insurance policy doesn't protect the borrower, banks will usually pass the cost of the insurance policy on to the borrower.

How much is a mortgage insurance?

Lenders Mortgage Insurance ('LMI') will vary depending on your loan amount and the property value. Use our LMI quote calculator to give your idea what it could cost you.

How can I avoid paying mortgage insurance?

You can avoid the LMI premium by having a 20% deposit and not borrowing more than 80% of your properties value. For first home buyers, using a family members property as additional security (also known as family guarantee) will allow you to avoid mortgage insurance.

First Home Owner Stamp Duty

Need a conveyancer?

Whether you're buying or selling a property, it is recommended to use the services of a local conveyancer

Customer Reviews

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Lisa Tran

It was a pleasure meeting Peter and have him guide us through what needed to be done for our home loan. He was responsive and knowledgeable, provided the best advice for us and was able to answer any queries thrown at him.
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Aaron Carrasco

Peter and his Team were able to seamlessly make a difficult task; easy. They are meticulous in their workings and the processes they provide allowed the lending process to be straightforward.
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rebekah herington

Peter Hammond is an absolute gem. I was super anxious about signing up for a mortgage and buying a place, Peter could not have been more supportive. He ensured that my priorities and preferences were taken into account, presented me with several options and guided me to choose the best loan option for me while also ensuring I took advantage of any schemes I was entitled to. He was always prompt in responding to enquiries, never made me feel pressured to rush into anything I wasn't sure about (I took more than 6 mnths to find a property) and provided me with endless relevant information throughout. Overall, I'd say Peter went above and beyond and I have no qualms in referring anyone to him.
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Christopher Busuttil

Great Experience with Get a Better Rate . If we could give more than 5 star to our broker Peter Hammond we would cause he deserves it. He's been so helpful and patient to us from the start up to this point of our loan. He's very professional and passionate with his job. Very reliable and easy to communicate as you can contact him at anytime and response as soon as he can.. Most of all for a first timer like us it would have been so hard for us to understand how things works but he manage to explain everything in a professional and yet understandable and the easiest way. Without his guidance we wouldn't make this experience as easy and enjoyable as it is.. Glad we have him in this journey of our loan.. Thank you Peter..

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