First Home Buyers

Get your First Home Loan plus understand any First Home Buyer Grants & Incentives

Buying your first home can be both an exciting and daunting journey, filled with many decisions to make and options to consider. This is where Margin Finance steps in to guide first home buyers through the maze of home finance options. Choosing Margin Finance means taking the stress out of the most significant purchase you might ever make, thanks to our personalised support, expertise, and access to a wide array of home loan options from banks and lenders across Australia.

First home buyers choosing Margin Finance benefit from our ability to explore a plethora of home loan options, ensuring the perfect match for their financial situation. With an expansive network of banks and lenders at our fingertips, we are able to secure competitive interest rate discounts, tailor options for those with unique credit histories, and even address the various aspects of lenders mortgage insurance (LMI), stamp duty, and loan to value ratios (LVR). Our proficiency doesn’t end there; we also excel in navigating through both fixed and variable interest rate loan options, making us a comprehensive ally in your home-buying journey.

The application process for a home loan can often seem overwhelming for first home buyers. Margin Finance simplifies this with a streamlined application process, designed to take the heavy lifting off your shoulders. Whether you are applying for your first home loan or exploring investment loan options, we ensure clarity and ease from start to finish. This includes getting pre-approved, calculating your borrowing capacity, and understanding the significance of providing accurate bank statements – all crucial steps in purchasing your first home or investing in your first property.

Understandably, the property market can fluctuate, affecting the decision-making process. Our team stays abreast of market trends, offering first home buyers timely advice and options that best suit their needs, whether it’s a home to live in or an investment property. Moreover, our services extend to advising on the benefits of various features such as offset accounts, understanding the importance of first home owner grants (FHOG), and navigating the intricacies of investment loan applications.

In conclusion, for first home buyers, choosing Margin Finance as your partner in this journey means benefitting from a breadth of expertise and resources. Our commitment to providing access to an extensive range of home loan options across Australia, coupled with a personalised approach to your individual financial situation, makes us the perfect choice for anyone taking the initial step towards home ownership.

Find out how much you can borrow

In 60 seconds, understand how much you can borrow to buy your dream home.

Get your Borrowing Capacity

10 things to consider when buying your first home in Victoria.

Embarking on the journey of buying your first home can seem like navigating a maze. But fear not! Margin Finance is here, your trusted compass in the world of real estate, to guide you through this exciting journey.

Evaluate What You Can Afford: The First Step on the Property Ladder

Before you dive into the property market, determine your budget and borrowing capacity. This will vary between different lenders depending on how they assess your ability to repay your home loan. Remember, your dream home is one that doesn't keep you up at night worrying about repayments!

Pre-Approval: Your Green Light in the Property Race

Having pre-approval from your selected lender allows you to search for a property that strikes the right balance between affordability, location, and amenities. Make a list of must-haves and nice-to-haves, and let your house-hunting adventure begin!

To Build or To Buy: A Crossroads in Your Home Journey

Building your home offers a unique opportunity to create a space that's uniquely yours. However, buying an existing property is often quicker and less stressful. Whatever path you choose, ensure it aligns with your lifestyle and long-term goals.

Apartment vs House: Your Lifestyle, Your Choice

Choosing between an apartment or house usually comes down to what matters most to you - more space or location? Whether you prefer the buzz of inner-city living or the tranquillity of the suburbs, there's a perfect home out there for you.

Save for a Deposit: Your Ticket to Home Ownership

Aim to save a deposit of 20% to avoid paying lender’s mortgage insurance. Consider using schemes like the First Home Super Saver Scheme to bolster your savings and get you closer to your dream home.

First Home Owner Grant: A Helping Hand from the Government

First home buyers may be eligible for the First Home Owner Grant (FHOG), a government initiative designed to help you purchase or build a residential property. This could be the financial boost you need to make your dream a reality.

Stamp Duty Concession or Exemption: A Potential Game-Changer

Stamp duty can be a significant upfront cost when buying a property. However, as a first home buyer, you may be eligible for concessions or exemptions that can lighten this financial load.

Principal Place of Residence (PPR) Concession: More Savings for Victorians

A principal place of residence (PPR) duty concession is also available for Victorians who buy a new or established property valued up to $550,000.

Hidden Costs: The Unseen Icebergs of Home Buying

Purchasing a home comes with various hidden costs, including lenders mortgage insurance, loan fees, conveyancing fees, building inspections and insurance, and rates adjustment. A clear understanding of these costs ensures there are no nasty surprises down the track.

Partner With the Right People: Your Dream Team in Property Buying

The journey to your first home isn't one you have to take alone. Partner with the right people - brokers, agents, and advisors, who can provide expert guidance every step of the way.

In conclusion, buying your first home in Victoria might seem like a daunting task, but with Margin Finance by your side, you can navigate this journey with confidence and ease. Now that you have these ten tips in your arsenal, you're ready to make your dream of home ownership a reality! Trust in us, your trusted guide in the world of finance!

Buying your First Home with a Home Loan

Initial Consult

Have a chat with one of our qualified Mortgage Brokers who will understand your situation and talk you through the next steps including what to expect as a First Home Buyer.
Fact Find

We'll work with you to understand a bit more about your situation (including your financials, assets etc.) to make sure you will qualify for your First Home Loan.

Pre Approval

Once you're approved, you can start bidding or making offers on properties you want to purchase.

Settlement

You settle on the property, your Home Loan draws-down and you're good to go!

Book Appointment

A margin exceeding the means of others

Maddi Skeggs

Really enjoyed our experience with Margin Finance. We are first home buyers and Margin were able to answer all of our (sometimes obvious) questions and take the time to explain everything until we full understood it - even if it meant explaining something multiple times. They made us feel secure and safe during the emotional rollercoaster of buying your first house, and I always felt good knowing we had them in our corner. Super personable and easily contactable. Thanks so much to you Damien and especially Andrew for your consistent help and to Jo and Alex also jumping in to support.

Theresa Meach

I couldn’t be happier with my experience with Margin Finance especially Andrew, Alex and Damian. From the very first consultation, the team was incredibly knowledgeable and attentive. They tailored their advice to my situation and provided me with a personalised plan. Andrew and Alex were always available to answer my questions even on their day off!! I would highly recommend Margin Finance to anyone looking for a reliable and knowledgeable team! Thank you again for helping me secure my first home.

Sam & Kelly Walker

Couldn't be happier with our experience. Offering advice and guidance from start to end. Understanding of the high anxiety and willing to take the time to answer our questions and reassure us every step of the way. We started by going to a webinar hosted by Damian at Margin, thinking we had no path to take for home ownership, to being coached on steps we need to take, to purchasing our first property. Damian and his team went above and beyond to help guide us, highly recommend their services.

Fusae Nojima

Damian is very knowledgeable and looks after his clients very well. He also has capable staff to help with the process. Very happy with the service I received from Margin Finance (and I didn’t pay anything). Highly highly recommend!

Chynthia & Drazen Kovac

Margin Finance have been incredibly helpful and professional while assisting us in securing a mortgage for our new home. Our income situation was a bit unique but the excellent communication and knowledge from Damian and Andrew really helped us understand each part of the process and achieve our goals.

Angela Tieman

We had a fantastic experience with Damian and the team at Margin Finance in Moonee Ponds. Our mortgage situation was not straightforward, but their professionalism, expertise, and positive mindset made all the difference. Thanks to their support, we were able to secure our mortgage and purchase our property in August. We highly recommend Margin Finance for anyone looking for a knowledgeable and dedicated team!

THE MEANS TO OVER 45 LENDERS

Frequently Asked Questions

What is a Pre-Approval?

Enter the property market with confidence when you are pre-approved for a home loan.

Pre-approval is a crucial step in purchasing a property. To be pre-approved means a lender ‘pre-approves’ an amount you can borrow based on a complete assessment of your financial situation.

This means you can attend auctions confidently and comfortably knowing what your borrowing capacity is. It also means you can begin the building process knowing your limit if you desire to build on vacant land instead of buying established.

Whether you are borrowing a small amount or a larger amount, a formal pre-approval is always a great idea.You'll know exactly how much you are able to spend which places you in a stronger position to negotiate with a vendor or bid at an auction.Another advantage to getting pre-approved? Your final loan will be organised a lot faster.At Margin Finance, pre-approval is cost-free.

What is a Deposit Guarantee?

Another finance option is a deposit guarantee, also known as a deposit bond.

Instead of putting down a cash deposit to secure your new home, you take out a deposit guarantee provided by a lender.

It can be a cheaper alternative to a bridging loan and it provides you with reassurance that the new property will be held until you settle your own home.

Can you help me understand costs of buying?

Purchasing a home comes with various hidden costs, including lenders mortgage insurance, loan fees, conveyancing fees, building inspections and insurance, and rates adjustment. A clear understanding of these costs ensures there are no nasty surprises down the track and this is where we can help.

What is FHOG?

First home buyers may be eligible for the First Home Owner Grant (FHOG), a government initiative designed to help you purchase or build a residential property. This could be the financial boost you need to make your dream a reality.

What are some of the first steps I should think about?