FIRST HOME BUYERS HUB

FIRST HOME BUYERS ARE OFTEN FACED WITH MANY QUESTIONS THAT CAN BE CONFUSING AND OVERWHELMING.

You are not alone if you need some extra assistance to guide you through the process of buying your first home - it can be a lengthy and unfamiliar process.

The Blu Mortgages team can help guide you through your lending journey and answer the many considerations to be addressed along the way.

FIRST HOME BUYERS HANDBOOK

Our First Home Buyers Handbook is a practical guide to buying your first house.

GOVERNMENT GRANTS AND INCENTIVES

If you're ready to buy your first home or doing a bit of research, it's important to understand what government support is available and how much you could potentially save

First Home Owners Grant

The First Home Owner Grant is a lump sum of cash available to first home owners to help with the cost of buying a first home or vacant land to build a home on.

For more information regarding the First Home Owners Grant, access the Federal Government's portal and click on your state or territory.

First Home Loan Deposit Scheme

The First Home Loan Deposit Scheme is an Australian Government initiative to support eligible first home buyers purchase their first home sooner.

If you’re eligible you’ll get a limited guarantee from the Australian Government to buy or build your first home with a low deposit of 5%, without paying Lenders Mortgage Insurance (LMI).

New Home Guarantee Scheme

The New Home Guarantee is an Australian Government initiative to support eligible first home buyers purchase their first home sooner.

This scheme works to allow eligible first home buyers who are looking to purchase or build a new home to apply for a home loan with a 5% deposit without paying lenders mortgage insurance (LMI).  

Family Home Guarantee

The Family Home Guarantee is an Australian Government scheme that helps single parents buy a family home.

From 1 July 2021, 10,000 Family Home Guarantees will be available to eligible single parents with dependants, subject to their ability to service a loan.

The Family Home Guarantee can be used to build a new home or purchase an existing home with a deposit of as little as 2%. Both first home buyers and previous home owners can apply.

Stamp Duty concessions

Dependent upon the value of your property, you may be entitled to a stamp duty concession. The conditions and amounts vary dependent on the state or territory you buy in.

For more information regarding stamp duty concessions, access the Federal Government's portal and click on your state or territory.

First Home Super Saver Scheme

The First Home Super Saver Scheme allows you to save money for your first home inside your super fund. This will help first home buyers save faster with the concessional tax treatment of superannuation.

From 1 July 2017, you can make voluntary contributions into your super fund to save for your first home.

From 1 July 2018, you can then apply to release your voluntary contributions, along with associated earnings, to help you purchase your first home.

HomeBuyer Fund

The Victorian Homebuyer Fund is a shared equity scheme, meaning that the State's financial contribution is made in exchange for a share, or proportional interest in the property.

As the value of the property changes, so too will the value of the State's share, or interest in the property.

THINGS TO CONSIDER ON YOUR HOME BUYING JOURNEY

  • Understand the lending journey from loan application and approval to settlement. Click here to view our 7-step lending process. 
  • Property insights - Check the sales history, estimatedvalue and market trends for your desired suburbs.

BOOK AN
APPOINTMENT

Please tick to verify that you are not a robot

 

Head Office: Unit 12, 15 Ricketts Road, Mt Waverley, VIC 3149