Finance for First Home Owners

How much do you really need for your first home?
  • Understand your financial situation, including borrowing capacity
  • Know the First Home Owner Grant requirements and limits

For a First Home Owner looking to enter the property market, finding the right finance is essential in securing your first home. This may sound a simple concept, however getting it right, especially when you’re using First Home Owner Grants, can be more complex then going to your local bank.

Here at My First Place, we recommend all First Home Owners discuss their financial position, and their goals, with a financial consultant, preferably someone who is experienced in First Home Owner Grants and First Home Owner lending. This discussion should be obligation free, and allow you as a potential First Home Owner to gain an understanding of your borrowing capacity and requirements when using a First Home Owners Grant.

My First Place can put you in touch with a financial consultant who can do exactly that, however we recommend that you have an understanding of your finances beforehand.

Before contacting a financial consultant we recommend you use the following tools we have sourced specifically for clients using the First Home Owners Grants, and those looking to enter the Australian property market for the first time.

These tools may form part of your financial due diligence when buying your first home, and will give you a clearer understanding of your lending capacity. However, they will not provide any indication regarding your eligibility to a First Home Owners Grant. For eligibility, please look to your specific state’s First Home Owners Grant page on this website, or contact your state government department (individual state links are found in the Resources section).

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