Buying your first home | Mortgage Choice Tweed Heads
Buying a property is one of the biggest financial commitments you’ll make. Throughout the process, you’ll undoubtedly have some important questions and decisions to make. As your local Mortgage Choice Broker, we can help you assess the property market and find a home loan that’s tailored to your individual needs.
As part of the service we offer, we’ll meet with you to understand your needs and compare hundreds of competitive loans from our wide selection of quality lenders. We’ll also complete the application, take care of the legwork and keep you updated along the way.
The team from Mortgage Choice Tweed Heads are here to guide you through the entire home loan process. You’ll be pleased to know that our home loan service comes at no cost to you as the lenders pay us after your loan settles. You can be sure that what matters to us is the home loan that’s right for you.
How to Apply for the first home buyers incentives
The Australian government has some great incentives for First Home Buyers, which include the First Home Owner Grant and the Stamp Duty Concession.
To find out if you're eligible for these grants, click the link below or give the team from Mortgage Choice Tweed Heads a call!
Check your eligibility for the First Home Buyers Grant!
How to choose and apply for a loan?
Almost all home loans work on a “principal plus interest” basis. That means, over the term of the loan, you repay the principal (the amount of money you borrow) as well as interest (the price you pay to borrow the money) charged on the outstanding balance. There are a number of different loan structures to choose from, which may feel a little overwhelming, however this is where we step in and guide you through the entire process.
Variable rate loans
Unlike a fixed rate loan, the interest rate on a variable loan will move up and down in line with market interest rates. As a result, your loan repayments can vary widely during the term of your loan, and it’s worth allowing for the possibility of future rate rises before committing to a variable rate loan.
Fixed rate loans
This loan locks you into a particular interest rate for a set period (e.g. 1-5 years). Your repayments will remain the same, irrespective of how market rates move during the fixed term, which can make it easier to budget for your loan repayments.
Split loans
A split loan divides your loan into fixed and variable rate portions. This gives you certainty of repayments on the fixed rate part of the loan while still being able to enjoy the savings of possible future rate falls on the variable part of your loan.
First Home Buyer Tip - to work out how much you need to save regularly, use our Mortgage Choice Savings calculator here!
Check out our First home buyer's guide!
Purchasing your first property can be an overwhelming process and there may be steps you are unsure or unaware aware of. This guide will walk you through all of the steps involved in the buying process.
If you're ready to get started, call Mortgage Choice Tweed Heads directly on 07 5518 8615.
