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First home buyer articles

Everything a first home buyer in Melbourne needs, written by a former senior credit officer: grants, deposits, duty, pre-approval and the mistakes that cost people the property.

The auction finance checklist for Victoria
· First home buyers

The auction finance checklist for Victoria

Victorian auctions have no cooling-off and an unconditional contract. Your finance checklist before auction day: approval, valuati…

Gifted deposit from parents: what lenders need to see
· First home buyers

Gifted deposit from parents: what lenders need to see

Using a parental gift as your home loan deposit? What a gift letter must say, how genuine savings rules apply, and source-of-funds…

The first home buyer timeline: 90 days from first call to keys
· First home buyers

The first home buyer timeline: 90 days from first call to keys

A week-by-week 90-day plan for Melbourne first home buyers, from pre-approval and grants to offer, finance approval, Section 32 re…

Stamp duty on a $650,000 house in Victoria: first home buyer vs owner-occupier vs investor
· First home buyers

Stamp duty on a $650,000 house in Victoria: first home buyer vs owner-occupier vs investor

Exact Victorian stamp duty at $500k, $600k, $650k, $700k, $750k and $900k for first home buyers, owner-occupiers and investors, wi…

House and land package finance explained
· First home buyers

House and land package finance explained

How house and land package finance works in Victoria: land loan, construction loan, progress payments, stamp duty on land only and…

How much deposit do you need for a $700,000 house in Melbourne?
· First home buyers

How much deposit do you need for a $700,000 house in Melbourne?

For a $700,000 Melbourne house you need $35,000 (5%) with the First Home Guarantee, $70,000 (10%) with LMI or $140,000 (20%) to av…

7 mistakes first home buyers make in Melbourne (and how to avoid them)
· First home buyers

7 mistakes first home buyers make in Melbourne (and how to avoid them)

The seven most common and costly mistakes Melbourne first home buyers make, from skipping pre-approval to bidding at auction unpre…

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