First Home Buyers
Helping You Take the First Step into Home Ownership
Buying your first home is an exciting milestone, but it can also feel overwhelming. Between saving a deposit, understanding loan options, government assistance schemes, and navigating lender requirements, it’s easy to become confused by the process.
At Suncrest Finance, we help first home buyers understand their options and make informed decisions with confidence. Whether you’re still saving for a deposit or ready to submit a loan application, we’re here to guide you every step of the way.
Why First Home Buyers Choose Suncrest Finance
Expert Guidance
We explain the lending process in simple language so you understand exactly what to expect.
Access to Multiple Lenders
Instead of approaching one bank, we compare options from a range of lenders to help identify suitable loan products.
Support Throughout the Journey
From pre-approval to settlement, we remain by your side and help coordinate the process.
Tailored Recommendations
Every borrower has different financial circumstances, goals, and priorities. We take the time to understand your situation before recommending a solution.
How Much Deposit Do You Need?
A common misconception is that you need a 20% deposit to buy a property.
While a larger deposit can provide advantages, many lenders allow eligible borrowers to purchase a property with a smaller deposit.
For example:
| Property Value | 5% Deposit | 10% Deposit | 20% Deposit |
|---|---|---|---|
| $700,000 | $35,000 | $70,000 | $140,000 |
| $900,000 | $45,000 | $90,000 | $180,000 |
Additional costs may include:
- Stamp duty
- Conveyancing fees
- Building inspections
- Government registration fees
Government Assistance Programs
Depending on your circumstances, you may be eligible for government initiatives designed to help first home buyers enter the property market.
These may include:
First Home Guarantee
Allows eligible buyers to purchase with a lower deposit without paying Lenders Mortgage Insurance (LMI).
Stamp Duty Concessions
Some states provide reduced or waived stamp duty for eligible first home buyers.
First Home Super Saver Scheme
Allows eligible Australians to save for a deposit through voluntary superannuation contributions.
We can help determine which programs may apply to your situation.
Understanding Pre-Approval
Pre-approval provides an indication of how much you may be able to borrow before you start house hunting.
Benefits include:
- Greater confidence when searching for properties
- Understanding your budget
- Demonstrating seriousness to real estate agents
- Faster purchasing decisions
Our First Home Buyer Process
Step 1 – Initial Consultation
We discuss your goals, income, expenses, savings, and borrowing requirements.
Step 2 – Borrowing Assessment
We assess your borrowing capacity and review lender options.
Step 3 – Loan Recommendation
We present suitable lending options and explain the pros and cons of each.
Step 4 – Application Submission
We help prepare and lodge your application.
Step 5 – Approval and Settlement
We guide you through approval, documentation, and settlement.
Frequently Asked Questions
Do I need a 20% deposit?
Not necessarily. Some borrowers may qualify with a smaller deposit.
What is LMI?
Lenders Mortgage Insurance is insurance that protects the lender when the deposit is less than 20%.
Can I get pre-approved before finding a property?
Yes. Many first home buyers obtain pre-approval before beginning their property search.
Ready to Buy Your First Home?
Book a free consultation and let’s discuss your options.