01
Understand
Discuss your goals, timing and current position.
Plan your first purchase
First home buyers
Build a clearer view of deposit, purchase costs, borrowing considerations and the steps from preparation to settlement.
Start with context
Questions worth considering
The right path depends on your goals, timing, financial position and the policies of lenders available through the broker.
- How much deposit and purchase-cost buffer do you have?
- What monthly repayment range would feel sustainable?
- Could a government scheme be relevant, subject to current rules and eligibility?
- What conditions could affect a pre-approval?
Prepare well
Documents that may help
The exact evidence required varies by borrower, purpose and lender. Do not email sensitive documents through a basic enquiry form.
Photo identification
Recent income evidence
Savings history
Living-expense overview
Existing debt statements
How the conversation may unfold
A clear, staged process
02
Explore
Review available pathways, features, costs and trade-offs.
03
Apply
Prepare documents and manage the application process.
04
Keep informed
Follow progress through approval, settlement and review.
Questions people often ask
How much deposit do I need?
It varies by lender, property and eligibility. A lower deposit can involve extra costs or conditions. Current government schemes should be checked against official eligibility rules.
What other costs should I budget for?
Possible costs include stamp duty, conveyancing, inspections, insurance, lender fees and moving expenses. Amounts vary by state, property and loan.
Should I seek pre-approval before making an offer?
A conditional pre-approval can help clarify a possible borrowing range, but it is not a guarantee of final approval.
Are there government grants or concessions?
Some may be available depending on the state, property and your circumstances. Check current eligibility with the relevant state revenue office.
What is lenders mortgage insurance?
It may apply if your deposit is small. It is a one-off cost that protects the lender, and the amount depends on the loan and lender.
A practical review of first home buyer loans
First home buyer loans should be reviewed in the context of the applicant’s purpose, timing and complete financial position. Deposit planning, purchase costs, grants, lender assessment and contract timing should be understood before making an offer.
Start by confirming the amount required and why it is needed. Compare the repayment structure, interest rate, fees, security, flexibility, total amount payable and what could happen if circumstances change. Lending criteria differ, so an example or calculator result is not an approval or a recommendation.
Before choosing a pathway, ask which assumptions are being used, what documents are still required, whether the rate or fees can change, and which conditions must be satisfied. Keep copies of the comparison and final documents, allow time to read them and raise anything that is unclear before accepting an arrangement.
Continue with the home-loan overview or review repayment calculator before starting an enquiry. For independent consumer information, visit Moneysmart home-loan guidance.
A clearer next step
Talk through first home buyers with context.
Share the basics of what you are trying to do and the Cloud Nine Loans team will explain what happens next.