First Home Buyer Loan

First Home Buyer Loan

Home loans for first home buyers — make your dream a reality with Universal Finance Corporation

Buying your first home is an exciting milestone, but before you pop the champagne and toast to your new life chapter, securing financing is a must. At Universal Finance, we specialise in helping first-time buyers secure the best first-home buyer loan for their needs to turn their homeownership dreams into reality. 


Explore the benefits of working with a mortgage broker to find your first home loan, and contact us today to get started.


Become a property owner with an expert by your side 


As a first-time home buyer, you’ll soon find there are many terms and processes you need to get your head around before you can sign the dotted line on your new home. Between understanding the eligibility criteria for government grants and determining the right interest rate for your budget, there’s a lot to consider. 


Universal Finance Corporation simplifies the search for the perfect first time home buyer loan, sifting through countless lenders, big and small, before matching you with the most appropriate solution. We’ve been assisting borrowers for over 34 years and understand the ins and outs of homeownership, allowing us to streamline the process for prospective buyers and investors alike. 


By coming on board with Universal Finance Corporation, you can look forward to the following process:


  • Hassle-free home loan comparison


Our brokers conduct comprehensive market research to identify the best first-home buyer loan in the market based on your preferences. We compare everything from interest rates to loan features and repayment terms to ensure you receive the most competitive offer. This thorough analysis saves you time and effort, providing a curated selection of the best options.


  • Tailored advice 


While you may not be the first home buyer we’ve worked with, rest assured that Universal Finance Corporation does not take a one-size-fits-all approach to financing guidance. We’ll sit down with you to discuss how much you can realistically afford to borrow using our first-home buyer loan calculators and inform you of the loan type we believe best suits your lifestyle and long-term plans.


  • End-to-end application management


Aside from finding you the right first home buyer loan, we’ll also help you prepare and submit your application to the lender, liaising with them on your behalf. Over the years, we’ve developed solid and lasting relationships with our partners, putting us in a better position to streamline your application for swift approval. 


Your journey to homeownership starts with Universal Finance Corporation


Know that you’re choosing the right first home buyer home loan with Universal Finance Corporation. From big banks to credit unions and online lenders, our team of brokers has access to some of the biggest lenders in the business. Find out how much you could be approved to borrow by getting in touch with us today.


FAQs

  • How can I guarantee approval for a first home buyer loan?

    To guarantee approval for a first home buyer loan, it’s important for first-time buyers to maintain a healthy credit score and have stable employment. You’ll also need a deposit of at least 5%, though it’s best to aim for a more substantial deposit to avoid Lender’s Mortgage Insurance (LMI). 


    Lowering or paying off existing personal debt is also ideal, as lenders may view this as a liability. It’s also important to prepare accurate financial documentation to help the process tick along more smoothly.


  • What is the government guarantee for first home buyers?

    The government guarantee for first home buyers, such as the Home Guarantee Scheme in Australia, allows eligible buyers to purchase a home with a deposit as low as 5% without paying Lender’s Mortgage Insurance (LMI). The government acts as a guarantor for the remaining 15%, making homeownership more accessible.

  • What type of loan is best for first time buyers?

    This isn’t always easy to answer, as the “best” first home buyer home loan for you depends on your preferences and financial circumstances. In our experience, we’ve found that first-time buyers tend to lean toward a fixed-rate mortgage, as it offers predictable monthly payments and stable interest rates, which can be helpful during the initial years of property ownership.


  • What is the First Home Owner Grant (FHOG)?

    The First Home Owner Grant (FHOG) in NSW offers $10,000 to eligible first-time home buyers purchasing a new home valued at up to $600,000 or building a new home up to $750,000. The grant aims to help first-time buyers enter the property market by reducing the financial burden of their initial purchase.


    First-home buyers may also be eligible for the First Home Buyers Assistance Scheme, which provides a full exemption or reduced rate of transfer duty, previously known as stamp duty, for new and existing homes or vacant plots of land. To qualify, first-home buyers must be purchasing a property valued up to $800,000 and less than $1,000,000 or purchasing land valued over $350,000 and less than $450,000. 
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