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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, 7th Jul 2022

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

Allison Hall profile pic
Allison Hall

Peter at Get a Better Rate was fantastic. Through out our loan process, he was happy to answer any questions we had and always got back to us so quickly. His knowledge about mortgages was outstanding and therefore, he was able to get our loan processed in a fast and efficient manner. I have already recommended Peter to friends who needed assistance with their mortgages and would recommend Peter to anyone for their mortgage needs.
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Mitchell Meldrum

We recently refinanced with 'Get a better rate', Peter was professional, efficient and provided an exceptional amount of support and knowledge. I highly recommend Peter for anyone looking at refinancing or obtaining a loan for the first time.
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Neda Molavi

Professionalism and knowledge pared with patience and support. For a person like myself with no experience, Peter was there for each and every step, went above and beyond to provide help and support, nothing was delayed due to flawless management of the process. All questions are answered and responses come very quick. I believe Peter is a broker who genuinely cares about the client. Thanks for helping me buying my dream house.
Connor O
Connor O'Meara

Peter came highly recommended by a friend. We found him to be extremely professional, excellent and prompt with communication and patient with our many first home buyer stupid questions. A lot of hand holding, but he was always happy to help. Thanks for your help.

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