First Home Buyer

Buying your first home should be an exciting and satisfying experience but it can also be a little daunting.

At credit on line, we’re here to make it as easy for you as possible by providing you with information about the financial products which may be available to you.

A Financial Consultant will also help to guide you through the process.

Some Frequently Asked Questions

Deposit
As a general rule, you’ll need a deposit of 5% of the property value. If you’re a first home buyer you’ll also need to show six months’ regular saving history. Other costs to consider are legal fees, stamp duty on the property, and if you are borrowing more than 80% of the value of your home you’ll be liable for a one off lender’s Mortgage Insurance fee.

First Home Owner Grant
The First Home Owner Grant is a one-off state government grant of $7,000 available to first home buyers who intend to live in the home they’re purchasing. You usually receive the amount upon settlement of your home loan. But certain conditions may make you ineligible for the grant.

How much can I borrow?
How much you can borrow depends on how much deposit you have, your current household income and what monthly expense commitments you have.

Financial Provider(s) :

Credit-on-Line is your gateway to finance, providing details of many financial products available in the Australian market, including home loans application, personal loans application, credit cards application, business finance application and insurance application.

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Authorised representative of DAAS Investments Pty Ltd