First home buyers | Mortgage Brokers Essendon, Moonee Ponds & Coburg

Let's make your first home a reality

So many people believe that they can't their first home in this market. But, we have helped hundreds of first home buyers, and there are so many different ways to buy your first home. Our Mortgage Choice Essendon team is here to provide clear, expert advice so you feel confident about this big step you're about to take.

Our first home buyer service includes:

Expert advice and resources: Most of our first home buyers have zero knowledge about home loans, which is understandable! Our goal is to provide you with the advice and resources you need to make a great decision about your very first loan. We talk through your numbers: like deposit, repayments and fees, as well as the types of loans that would suit your finances.
Assessment of first home incentives: We don't want you to miss out on any of the incentives or schemes available to first home buyers! We assess your eligibility for the various schemes and help you apply.
Legwork and paperwork: Our team in Essendon do all the paperwork, legwork and follow-up on your first home so you can enjoy the journey! It's such an exciting time, and we want you to feel confident in the finance your settle on.
Support from start to finish: We're here for you: from the very first conversation we have all the way through to settlement (and beyond!) Our team have all been there, and now we make it our mission to help others.

Our Home Loan Calculators

Our free home loan service

As Mortgage Brokers in Australia, our home loan service is free. The lender you choose will instead pay a commission when your loan settles with them. We believe that everyone should have access to quality home loan advice they can trust.

What our first home buyers say

"I am single and heard everyone say how hard the process was to get their first home. I was very nervous when I decided I wanted to buy my first home at 28. Theo made my dream come true getting into the market and owning my first home. He was beyond informative (I had no idea about house purchasing) and was always responsive when I needed his advice. Theo also made the process seem so easy! I rarely write Google reviews but I cannot recommend Theo and Mortgage Choice in Essendon enough." [Jarryd, Brunswick]

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Your first home experts

Our team at Mortgage Choice in Essendon has supported hundreds of first home buyers: we do all the work, research, paperwork and apply for any first buyer incentives you are eligible for. What's not to love?

Find out more about us

First Home loan FAQs

How much can I borrow?

Lenders use a range of different factors to determine how much they are willing to lend you, including your income, living expenses, debts and assets. They need to make sure that you can afford both your current lifestyle and your new home loan repayments, comfortably. Some lenders also need to build in the APRA 3% buffer rate to make sure that even if rates went up, you could still afford your repayments. Want to do a few quick sums on your borrowing capacity? Check out the calculator below! For exact numbers, get in touch with the Mortgage Choice Essendon team.

Use our Borrowing Capacity Calculator

What incentives are available for first home buyers?

There are some great incentives available to first home buyers at the moment. In Victoria, first home buyers can access:

The First Home Guarantee: This helps first home buyers purchase with just a 5% deposit and avoid Lenders Mortgage Insurance. It means that the Government will essentially 'guarantee' the other 15% with the lender, so they give you access to all the great benefits that come with a 20% deposit. This scheme also include the Single Home Guarantee and the Regional Home Guarantee. Find out more here.
Stamp Duty Concessions (or exemptions): This one allows some first home buyers to enjoy a discount to stamp duty fees, or avoid it completely. If the property you buy is valued at $600,000 or less, you don't have to pay stamp duty (a saving of approximately $31,070). If the property is valued between $600,001 - $750,000, then you pay stamp duty on a sliding scale. Find out more here.
First Home Owner Grant: The FHOG gives you a cash lump sum of $10,000 if you buy or build a new property in Victoria valued up to $750,000. Find out more here.
And more!

Our Mortgage Broker Essendon team will talk you through eligibility criteria and everything else you need to know about applying for these incentives and schemes.

What is a Guarantor Loan?

A Guarator Loan is when a family member (usually your parents), offers equity in their own home as additional security for your loan. They are known as the 'guarantor'. This is a great option for first home buyers who have less than a 20% deposit as it allows them to avoid Lenders Mortgage Insurance. The guarantor isn't required to make any payments on the loan, but they are on the line if you cannot keep up with repayments. It also has implications if they would like to sell their property or invest in the future. It's important that both you and your guarantor understand the requirements of a Guarantor Loan and seek independent financial advice. Our Essendon team are here to help!

Let's make it happen

Our team at Mortgage Choice in Essendon love seeing our clients achieve their property goals: like buying their first home! Let's chat through the numbers and work on finding a first home loan that's right for you.

Visit our office at 94 Fletcher Street, Essendon. We can also chat by phone, video or in-person across Essendon, Moonee Ponds, Brunswick, Coburg and across Melbourne.

Call: 0438 381 312 Book an appointment

Mortgage Broker Essendon, Moonee Ponds & Coburg

Mortgage Choice in Essendon can help with:

The right home loan for your first home

Our mission is to find the right home loan for your individual needs and to always have your best interests at heart. Plain and simple. Which is why we have such a wide range of lenders to choose from. We can search through hundreds of products to find something tailored to your situation. ~