Brisbane First Home Buyer Experts

First Home Buyers

Best Brisbane Mortgage Broker

Buying your first home is an exciting time, but it can also be overwhelming if you don’t know where to start. The team from Loan Mate are First Home Buyer experts!

As a First Home Buyer, you probably have a million questions about the process. The team from Loan Mate will help first home buyers in Brisbane and the Redlands by guiding them through the entire home loan journey. During the initial meeting, a Loan Mate broker will discuss your borrowing capacity, future goals and provide you with insights about the current housing market.

Steps to Buying Your First Home in Brisbane

Best Brisbane Mortgage Broker

To help you get started with your home loan journey, our team of experts have outlined the process. This information will be extremely helpful when it comes time to buying your first home in Brisbane and the Redlands.

Step 1: Find out how much you can borrow

The first step in your home buying journey is to do a few quick sums to find out how much you can borrow for your dream home. Our home loan borrowing calculator will give you an initial estimate of what you could potentially borrow from a bank. This can be extremely helpful when it comes time to finding your dream home.

It’s also important to know that First Home Buyers have access to some incredible incentives when it comes to the purchase of a new home. To find out what grants you’re eligible for, contact Loan Mate on 07 3054 0515 or check them out here. 

Step 2: Find a Property

Once you know your borrowing capacity, you can confidently search for your dream home. When it comes to finding the right property, there are many factors to consider. They include, choosing the right suburb, home features and capital growth potential. Websites such as Domain and Realestate.com.au can help you locate the right property.

Before you submit your offer, have a chat to Loan Mate – Brisbane’s best mortgage brokers. We work 7 days a week and our team of mortgage brokers will help you understand what the property is worth and provide you with a full property report valued at $40.

Step 3: Make an offer on a property

It’s now time to submit your offer – but where do you start? The first thing is figuring out how much you’re willing to offer for the home you have found. To guide you through this step, having pre-approval in place can really help, especially if you need to respond to a counteroffer.

To help you with this step, our team of mortgage brokers at Loan Mate will guide you through the entire home loan process and take away any stress. Give our team a call on 07 3054 0515 now to discuss your situation.

Step 4: Applying for a Home Loan

Congrats, now it’s time to officially apply for your home loan. Don’t worry, this is where we come in and handle all of the paperwork and discussions with the banks for you.

As part of our home loan service, we’ll search through hundreds of loans options to find the right one for your lifestyle. As your local broker in Brisbane and the Redlands, we offer our home loan service at no charge to you as the lender (bank) pay us a commission when your home loan settles.

Step 5: Conveyancing, Legals & Searches

Before your property settles, it’s important to complete any necessary property searches to ensure there are no major problems with your new home. You may want to consider a building inspection and any relevant title searches.

A lawyer experienced in property conveyancing will be able to guide you through this process. Contact the team from Loan Mate to find a trusted and reliable conveyancer.

Step 6: Settlement

Congratulations! You have just settled your home loan! Now it’s time to move in and make the property your new home. Don’t forget to organise utilities, electricity, internet, foxtel, and mail redirection.

Get started today. Book an obligation-free appointment.

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Assessment Criteria for Brisbane First Home Buyers

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Unfortuantely at school we aren’t taught the process of getting a mortgage, but that’s why we are here. The Loan Mate team will guide you through the entire process!

When it comes to your home loan journey, it’s important to understand what criteria the banks will be using to analyse your home loan application. To guide you through this step, our team of morgage brokers in Brisbane have outlined it below.

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Income & Expenses

The bank needs to determine whether you can comfortably manage the repayments. Your income and employment history are good indicators of your ability to repay debt. Income amount, stability, and type of income may all be considered. We look at salary income, Centerlink payments, pensions, and any interest payments when preparing applications for first home buyers.

Property

Firstly, the lender needs to ensure that the property exists and secondly, that it fits into their credit policy. Most units and houses in Brisbane comply with credit policy, but you should pay particular attention to any small units (less than 50sqm), properties on the postcode blacklist, and off-the-plan purchases with long settlement dates. If you’ve found the perfect home, and want check if the banks will like it, please shoot us a message here.

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Deposit

How much money do you intend to contribute to the purchase of your new home? Ideally, banks prefer at lend less than 80% of the property value, however Loan Mate regularly assists first home buyers with borrowing up to 95% of the property value. For most lenders, borrowing above 80% attracts Lenders Mortgage Insurance (LMI), and this is added ontop of your loan. If you’re curious how much LMI may cost you, please contact us here.

Character

Character is the moral obligation that a borrower feels to repay the loan. Since there is not an accurate quantifiable measure to judge character, the bank will decide subjectively whether or not the applicant is sufficiently trustworthy to repay the loan. This involves looking at your past payment performance, reviewing a credit report, and considering the applicant’s educational background. So there are no surprise, we always review all credit reports prior to submitting the application to the bank.

Get started today. Book an obligation-free appointment.

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We Service All Brisbane & Redlands Suburbs

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We are a results driven and customer focussed team. Our mission is provide you with an unfortgettable experience.

Brisbane East

  • Balmoral
  • Belmont
  • Bulimba
  • Camp Hill
  • Cannon Hill
  • Carina
  • Carina Heights
  • Carindale
  • Chandler
  • Coorparoo
  • Gumdale
  • Hawthorne
  • Hemmant
  • Lota
  • Manly
  • Manly West
  • Morningside
  • Murarrie
  • Norman Park
  • Ransome
  • Seven Hills
  • Tingalpa
  • Wakerley
  • Wynnum
  • Wynnum West

Brisbane North

  • Albion
  • Alderley
  • Ascot
  • Aspley
  • Bald Hills
  • Banyo
  • Boondall
  • Bracken Ridge
  • Bridgeman Downs
  • Brighton
  • Carseldine
  • Chermside
  • Chermside West
  • Clayfield
  • Deagon
  • Everton Park
  • Ferny Grove
  • Fitzgibbon
  • Gaythorne
  • Geebung
  • Gordon Park
  • Grange
  • Hamilton
  • Hendra
  • Kalinga
  • Kedron
  • Keperra
  • Lutwyche
  • McDowall
  • Mitchelton
  • Newmarket
  • Northgate
  • Nudgee
  • Nudgee Beach
  • Nundah
  • Sandgate
  • Shorncliffe
  • Stafford
  • Stafford Heights
  • Taigum
  • Virginia
  • Wavell Heights
  • Wilston
  • Windsor
  • Wooloowin
  • Zillmere

Brisbane South

  • Annerley
  • Burbank
  • Calamvale
  • Chelmer
  • Coopers Plains
  • Corinda
  • Dutton Park
  • Eight Mile Plains
  • Fairfield
  • Forest Lake
  • Graceville
  • Greenslopes
  • Holland Park
  • Holland Park West
  • MacGregor
  • Mackenzie
  • Mansfield
  • Moorooka
  • Mount Gravatt
  • Mount Gravatt East
  • Rochedale
  • Runcorn
  • Salisbury
  • Seventeen Mile Rocks
  • Sherwood
  • Sinnamon Park
  • Stones Corner
  • Sunnybank
  • Sunnybank Hills
  • Tarragindi
  • Tennyson
  • Upper Mount Gravatt
  • Wishart
  • Yeerongpilly
  • Yeronga

Redlands

  • Alex Hills
  • Birkdale
  • Capalaba
  • Cleveland
  • Mount Cotton
  • Ormiston
  • Redland Bay
  • Sheldon
  • Thorneside
  • Thornlands
  • Victoria Point
  • Wellington Point

Get started today. Book an obligation-free appointment.

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