Making your first home dream a reality
There are few things more exciting than getting the keys to your first home. Understanding the process to get into your new home is what we can assist with. We can help you plan so that you are not blindsided by lender policies or hidden costs.
We will be there to guide you through the whole process, whether you are buying a house and land package or an established home. We can help you find out what incentives or schemes you may qualify for that may assist you in making your first home dream a reality.
First Steps
Book an appointment with us (no cost), and we can help set out the process as a first home buyer. We will guide you through all the costs associated with a purchase and importantly give you your borrowing capacity allowing you to understand your budget.
Pre-approval
If you haven’t chosen your home yet and want the confidence to make an offer when you find it, we can assist in getting you pre-approved for your purchase.
Apply for incentives
As a first home owner there are a range of incentives that you may qualify for. We can help find out what you can access and help you submit the applications.
First Home Owners Grant
The first home owners grant is a one-off payment to assist first home buyers in buying or building their first home.
The grant is currently $10,000 for newly built homes (substantially renovated properties may qualify). For those purchasing an established property it provides a stamp duty waiver on purchases $430,000 or below and a stamp duty discount for purchases between $430,000 and $530,000.
https://www.wa.gov.au/organisation/department-of-finance/fhog
First Home Loan Deposit Scheme
The Federal Government launched the FHLDS in January 2020 with 10,000 grants being available to Australian citizens who are buying their first home in that financial year and a further 10,000 from 1st July 2020.
The scheme allows purchasers to have lenders mortgage insurance waived with just a 5% deposit through selected lenders.
First Home Buyers Assistance Account
A grant of up to $2,000 assisting first home buyers in Western Australia with some of the costs associated with their purchase. Available for purchases up to $400,000.
https://www.commerce.wa.gov.au/publications/home-buyers-assistance-account-guide-first-home-buyers
Family Guarantee
Family guarantee is a way that parents can assist their children by providing their property as additional security for the new loan.
It allows a new purchase to be free from lenders mortgage insurance and keeps the loan rate competitive.
There are many considerations when entering into a family guarantee. Get in touch if you’d like more information.
Make your dream home become a reality
It can be daunting, just the thought of going through all your finances and deciding what to do next. At Fox Mortgages we’ve dealt with many clients who feel the same way.
We will be there to guide you through the whole process, whether you are buying a house and land package or an established home. We can help you find out what incentives or schemes you may qualify for that may assist you in making your first home dream a reality.
Get in touch now to book your review with Fox Mortgages.
