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.

New Home Guarantee Scheme (formerly First Home Loan Deposit Scheme)

The New Home Guarantee Scheme (formerly the First Home Loan Deposit Scheme) is a government-backed initiative to help Australians get into their first home sooner.

It allows eligible first home buyers to purchase a property with as little as a 5% deposit, without the need to take out lenders mortgage insurance (LMI)

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.

HomesVic Shared Equity Scheme

The HomesVic Shared Equity scheme is a Victorian State Government initiative.

The government will share the upfront costs of purchasing a home by taking a proportional interest in the value of your property up to 25%.

Home buyers are required to contribute a minimum 5% deposit.

HomesVic maintain its proportional interest in the property and receives it back when the property is sold (up to 25% of what the property sells for).

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.

HomeBuilder

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home.

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

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