First Home Buyers Guide 2024.

Get Into Your First Home Sooner.

7 Simple Steps To Become a First Home Owner.

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Step 1: Initial Consultation.

Book an appointment with Specialist Mortgage and start your home ownership journey. Our mortgage broker will answer all your questions and explain the home loan and home buying process. You can also discuss government incentives that you may be eligible for.

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Step 2: Preliminary Credit Assessment.

Our mortgage broker will clarify your financial position, determine how much you can borrow, discuss home loan packages including features, interest rates and repayments. They will also request documents and ID from you.

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Step 3: Loan Recommendations.

You will be presented with the most competitive home loan packages tailored to your individual situation, needs and objectives.

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Step 4: Mortgage Application.

We will assist with your mortgage pre-approval application, so that you can shop for your new home with confidence knowing your budget and likely repayments.

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Step 5: Property Selection.

At this stage you can find your dream home and enter into a formal contract of sale or bid at auction. Our brokers will assist you every step of the way through this process.

Step 6: Formal Approval.

Your lender will book a valuation to confirm the property value and determine the loan value ration. Once the lender is satisfied, they will provide formal mortgage approval to purchase your home.

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Step 7: Settlement.

The property title is transferred into your name. Congratulations you are officially a home owner!

Ready To Buy Your First Home?

First home buyer checklist.

Everything You Need To Do In Order To Get Into Your First Home.
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Check your credit score.

Checking your credit score in Australia is a straightforward process through companies such as Equifax, Experian, and Illion. A higher credit score may increase your chances of obtaining favorable loan terms and interest rates.

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Consult a Mortgage Broker.

Book a free consultation with Specialist Mortgage. A mortgage broker can explain the home loan process, explain different mortgage packages, and answer all your questions. They will be able to advise you of government grants and schemes that you may be eligible for.

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Save For A Deposit.

Your mortgage broker will advise if you require a deposit and how much you may need.

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Get A Mortgage Pre-Approval.

Your mortgage broker will conduct a preliminary credit assessment and provide you with competitive loan recommendations. They will assist with your application for a mortgage pre-approval.

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Hire A Settlement Agent.

You will need to engage a licensed conveyancer or solicitor to review your contract, perform checks on the title, draft settlement documents and carry out the process of transferring settlement funds and the title into your name.

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Make An Offer On Your Dream Home.

You can either submit an offer yourself or your mortgage broker can assist you with this. You may first wish to get pre-approval so you have a better understanding of the type and amount of loan you might be able to obtain.

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Arrange Formal Mortgage Approval.

Your mortgage broker will require a copy of your executed sales contract to share with your choose lender so they can arrange for a property valuation and approve your mortgage to purchase the home.

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Apply For Your First Home Owners Grant.

Apply for any state or federal grants and schemes that you may be eligible for. Your mortgage broker will be able to assist you in finding out what schemes and grants you could take advantage of.

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Arrange A Building And Pest Inspection.

This is important to protect you from major structural defects, certain minor defects, as well as timber pest infestation or damage. This can be conducted prior to making an offer to purchase or you may include a clause in the contract that is written by your conveyancer.

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Get Home Insurance.

Lenders will require you to have home insurance. The timing of when this needs to commence prior to settlement will vary from state to state.

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Pre-Settlement Inspection.

Ensure the property is in the same condition as when you originally viewed it. It’s a great time for the owner to handover user manuals, warranty documents, show you how to use keys and appliances in your home.

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Set Up Utilities.

Contact your preferred gas, water, electricity, and internet providers to arrange connection for your move in date.

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Change Postal Address.

Change your postal address and redirect your mail.

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Pack Your Life Up.

Book the removalists – it’s time to move!

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Move In.

Collect your keys – welcome to your new home!

Experts In Australian Finance, Located Worldwide.

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Get a free mortgage assessment.

Let us know your situation and one of our brokers may be able to provide a better mortgage solution.

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Book a free online consultation.

Book a time to chat through your options with one of our friendly mortgage brokers.

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Find Your Local Office.

Discover which one of our global offices is best to have a face to face chat about your home loan objectives.