first home buyers loans

So you have a good job and a small amount of savings and you want to escape the rental rat race. We understand that you are aware that rent is just dead money. You are feeling that paying rent is just buying a property for the landlord. After a bit of research you realise that the loan repayments to buy the same type of place you are renting is nearly the same. so you want to see what first home buyers loans are available to you. 

Our Davies Home Loans mortgage brokers can help you to navigate the ins and outs of buying your first property while finding a competitive rate that will suit your unique situation. As a first home buyer it is important to get a loan that offers features that will work for you.

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Serving Tweed Heads & Norther Rivers

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16+ Years Of Experience

first home owners grant

As a first home buyer there are a variety of special offers and grants available to help you get into the property market. Buying your first property can often be expensive with a number of fees and taxes that you may not be aware of. Stamp duty is the tax paid on the purchase price of a property for certain documents & transactions associated with the purchase. A benefit of being a first home buyer is that you can sometimes have stamp duty waived under certain government offers.

One of the most noted grants is the government’s First Home Owners Grant. This grant allows first time home buyers who are looking to buy a New home, build a home, or buy a newly renovated property.


In New South Wales the Grant offers $10,000 towards the purchase price under $750,000


In Queensland The grant offers $15,000 towards the purchase of a property under $750,000

As every state government differs it’s important to look for the grants available in your state. 

*Note these amounts are subject to change with Government changes.


What to know when buying first home

When first getting into the property market it’s important to know what you’re getting yourself into. A mortgage is a long term debt which if not properly accounted for can cause potential financial strain. To make sure you get the most out of your loan it’s important to follow these steps:

Assess the current rates & market prices

The first step is to look into how much you might need to borrow in the area you’re looking to buy. It’s also wise to look at the current property market as interest rates can rise and fall over time which could impact your ability to afford repayments.

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Check your borrowing power

While you might have a deposit saved, you need to check how much you are eligible to borrow based on your income, expenses, and credit history. This is important to ensure you are able to afford the cost of the loan and can make your repayments.

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Apply for your First home buyers grant

The first home owners grant could play a crucial role in determining how much you have to spend when looking for your first home. Having that extra money in your pocket can help when applying for your loan.

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Decide whether you want a fixed rate or variable interest rate loan

When deciding between a fixed interest rate and a variable rate there are definitely some benefits to each. It’s important to know the differences and decide on a rate that will work for you.

first home loan specialists

At Davies Home Loans we understand the needs of first home buyers and can answer any of those questions that arise when first getting into the property market. Our specialist mortgage brokers are experienced in helping young professionals get into their first home and will guide you through the whole loans process. 

Get in touch or give us a call to learn how we can make your property dreams come true!