New Home Buyers Government Guarantee Initiative

Register To Receive Regular Updates on This Initiative Free

Contact Us

The Federal Government has now passed legislation that will introduce another incentive to help First Home Buyers purchase their dream home faster.  Once you register with Brisbane Home Loans, you will receive updates by email with respect to the Scott Morrison’s election promise of a guarantee deposit for first home buyers.  This initiative starting in January 2020 will allow you to purchase your first home with just 5% deposit providing you meet the criteria set out to qualify.  Our information will assist you in preparing to ensure you qualify and be one of the first to benefit from the initial round of $500 million allocated to this initiative.

Scott Morrison New First Home Loan Deposit Guarantee

First Home Buyers Registration Form

Brisbane Home Loans can offer you the choice of hundreds of products from more than forty lenders. We do the leg work for you. After ascertaining your unique situation and goals we do all the work to get you the best deal at no extra cost to you.

The amount you can borrow is commonly known as your borrowing capacity. Your borrowing capacity will differ from lender to lender and depends on many factors including your income, expenditure, existing loans and deposit available.

Pre-approval is a great place to start if you are considering purchasing a new home, buying an investment property, or simply want to ascertain your potential borrowing power.

Where Pre-approval is obtained, the lender will issue a letter of offer and this will be valid for a certain period, usually 90 days. Any conditions or additional requirements will be noted in the pre-approval that is provided by the lender.

Knowing how much you can afford to spend based on a given deposit, provides credibility with agent and a level of negotiating power with both the agent and the seller.  Naturally, pre-approval is necessary if you are looking at a property that is auctioned.

Lenders Mortgage Insurance is typically required by all lenders on loans for borrowers who have less than 20% deposit.

Lenders Mortgage Insurance protects a lender in the event that the borrower defaults on the home loan. In this situation, if the sale proceeds of the property being held as security is not enough to cover the mortgage, the lender will make a claim on the insurance policy.

There are instances where the lender will require it to be paid on a much lower Loan to Value ratio, for example low doc loans. The only benefit you will get from LMI is in the amount you are able to borrow.

Mortgage Insurance covers potential losses to the lender, not the borrower. Please see more information in our Resource Centre.

Some lenders offer the option for a client to fix in the rate that has been quoted on the day that the loan application was made.

In the event that an unexpected rate rise happens prior to settlement of your loan you can feel safe in knowing that your rate will not change. Some lenders offer this service automatically. Others require you to pay a fee to put the Rate Lock in place.

Fixing a rate as part of a negotiation is useful in situations where lenders run promotions offering lower rates for a nominated time frame.  This protects the borrower in the event that the loan application is delayed.

We always start with a chat over the phone or in person. We listen to your lending requirements and then prepare a needs analysis schedule for you.  We review the schedule with you and outline the next steps associated with the loan application.

During this appointment we will answer any questions you feel relevant to your loan application or the process.

Feel free to contact us on 07 3889 9250 or simply complete our contact form on our website and one of our Finance Specialists will be in touch within 24 hours.

For More Questions, call us on 07 3889 9250 or contact us via our website.

Buy A First Home For 5% Deposit

Queensland cap of $475,000, should cover the cost of a house in regional centres of Queensland and should also cover the price of a three-bedroom house Brisbane suburbs like Strathpine,  Taigum and Petrie.

The downturn in unit pricing also allows units close to the city areas of New Farm or Lutwyche to fall within the cap price allowance.

And regional buyers will have plenty to choose from in the sub-$400,000 market, too.

Mistakes First Home Buyers Make Brisbane

In this article we consider 10 Mistakes First Home Buyers Make when purchasing their first home. At Brisbane Home Loans, our specialists are experienced at working with First Home Buyers and over the years, have identified mistakes first home buyers make and established a program that assists in avoiding such mistakes.  Take the time to

Facts About The HomeBuilder Grant $25,000

WHAT IS THE HOMEBUILDER GRANT? The HomeBuilder Grant is a time-limited, tax-free grant to help stimulate the residential construction market during the Coronavirus Pandemic. HomeBuilder will provide eligible owner-occupiers (Including First Home Buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will be available for applicants who

Guide to your loan repayments through Covid-19

Circumstances associated with Covid-19 have certainly created confusion as clients are hit with mixed messages with respect to interest rates, the economy, property prices, valuation and more. Unless you have a crystal ball, you will need to make decisions based on the best information available and in consideration of your own personal financial situation.  This

Tips To Buying An Investment Home

10 TIPS TO BUYING AN INVESTMENT HOME If you're thinking about buying an Investment Property, these 10 tips will help you in your journey. BE CLEAR ABOUT THE OBJECTIVE OF YOUR INVESTMENT The first step is to ask yourself this question “Why am I buying an investment property?” Sure, its because you want to improve

RBA suggests existing borrowers gouged by banks offering new mortgage discounts

Interest rates in Australia have reached a historical unprecedented all time low and the benefit of lower interest repayments are flowing through to new borrowers and first home buyers! Is the benefit also flowing through to homeowners with existing mortgages? Assuming that like me, your loan has been in place for a number of years,

Borrow Up To 95% On First Home Without Paying LMI

Borrow Up To 95% on Your First Home Purchase It appears the Federal Government will come through in assisting First Home Buyers in Australia get into their first home quicker through the new First Home Loan Deposit Scheme (FHLDS), which launches in January 2020. The FHLDS will allow first home buyers earning less than $125,000