Buying your first home

Speak with a qualified mortgage broker about arranging a pre-approval today

Today's Lowest Interest Rates For First Home Buyers

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

Matthew Jones profile pic

Matthew Jones
Peter was fantastic. I tried to refinance with my existing private banking relationship and was turned down. Got introduced to Peter, I sent him some docs and he helped me complete paperwork and I got close to twice the amount I was looking for. Could not have done it without him. Quite an unbelievable difference and would recommend him to everyone.

Ainslie Hie profile pic

Ainslie Hie
The road to purchasing a family home was a long one for us (several years), and I lost count of how many pre-approvals Peter prepared us, or how many questions he patiently answered. Peter is helpful, knowledgeable, patient, and professional, and I would not hesitate to recommend his service to other home buyers—top-notch service!

JR “Ez” Lee profile pic

JR “Ez” Lee
Pete was incredible. He found solutions to any obstacle and I was able to purchase a second property using equity. The process was far less intimidating and confusing with him supporting me. He has also helped a family member recently purchase their first home. So stoked and appreciative I was able to connect with Pete for an amazing outcome!

Kerry Luong profile pic

Kerry Luong
I highly recommend Get a Better Rate! Peter is always responsive and professional. Thanks for all your help!

Our preferred lenders

ANZ logo PNG and SVF formats

Bank SA logo PNG and SVF formats

Bankwest logo PNG and SVF formats

Bank of Melbourne logo PNG and SVF formats

Commonwealth Bank logo PNG and SVF formats

ING logo PNG and SVF formats

Macquarie Bank logo PNG and SVF formats

NAB logo PNG and SVF formats

Newcastle Permanent logo PNG and SVF formats

St George Bank logo PNG and SVF formats

Teachers Mutual Bank logo PNG and SVF formats

UBank logo PNG and SVF formats

Virgin Money logo PNG and SVF formats

Westpac logo PNG and SVF formats