First Home Buyers
First Home Owner's Loans
Are you dreaming of owning your first home? At Proteger Financial Solutions, we understand that purchasing your first property is a significant milestone, and we’re here to guide you through every step of the journey. With a range of schemes and grants available, navigating the complex world of first-home buying has never been easier.
Why Choose Proteger Financial Solutions?
Navigating the intricate financial landscape of buying your first home can be overwhelming, and that’s where Proteger Financial Solutions comes in. Here’s why partnering with us can make your journey smoother:
Expertise:
Our team of seasoned finance professionals has in-depth knowledge of the Australian property market and is well-versed in the intricacies of various government schemes and grants.
Tailored Solutions:
We understand that every individual’s financial situation is unique. We take the time to understand your goals and tailor financial solutions that align with your needs and aspirations.
Access to Multiple Lenders:
As an independent finance broker, we have access to a wide network of lenders. This allows us to shop around and find the best mortgage deal that suits your financial circumstances.
Streamlined Process:
Navigating the paperwork and financial details involved in buying your first home can be time-consuming. Our team ensures a streamlined process, guiding you from application to settlement.
Don’t navigate the complex world of first home buying alone. With Proteger Financial Solutions you can enjoy a seamless experience that puts you on the path to homeownership. Contact us today, and let’s turn your dream of owning a home in Australia into a reality!
First Home Owner Schemes
With a wide range of first home loan schemes available how do you decide which is the right path for you? At Proteger Financial Solutions our experienced brokers guide you through the process and help identify the ideal scheme and lender to suit your specific needs. Learn about the range of grants & schemes below:
These grants are managed by the various State Governments. The grant depends on the type of property that you are purchasing and the grants vary across states and territories. Our experienced team can help you understand the specific criteria for your location.
We’ve provided links to the various state government grants below:
WA: https://www.wa.gov.au/organisation/department-of-finance/fhog
SA: https://www.revenuesa.sa.gov.au/first-home-owners-grant
Victoria: https://www.sro.vic.gov.au/first-home-owner
NSW: https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/first-home-owner-new-homes-grant
Queensland: https://qro.qld.gov.au/property-concessions-grants/first-home-grant/
Tasmania: https://www.sro.tas.gov.au/first-home-owner/eligibility
Northern Territory: https://nt.gov.au/property/home-owner-assistance/first-home-owners/first-home-owner-grant
Struggling to save a hefty deposit? The FHBGS assists eligible first home buyers in securing a home loan with as little as a 5% deposit, avoiding the need for costly lenders mortgage insurance. The scheme is run by the Federal Government and limited places exist. Not every bank participates in the scheme, so a wrong choice can cost thousands. Income caps and purchase price caps apply. Our team can help you understand your eligibility and the link to the scheme is:
https://www.housingaustralia.gov.au/support-buy-home/first-home-guarantee
We offer a great range of home loan solutions.
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First Home Buyer
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FAQ's
The amount you can borrow depends on factors such as:
Your income and living expenses
Existing debts and financial commitments
Your deposit amount and credit history
We’ll work with you to calculate your borrowing power and match you with lenders that offer competitive terms for your situation.
Pre-approval (also called conditional approval) means the lender has reviewed your financial position and given you an estimated borrowing limit, but final approval depends on the property and other factors.
Full approval happens once the lender confirms all details, including the property’s value and your financial documentation.
Getting pre-approval can make your home search more confident and streamlined. We’ll help you get there quickly.
Stamp duty is a government tax applied to property purchases. As a first home buyer, you may be eligible for:
Full or partial stamp duty exemptions
Concessions depending on your property price and state/territory
Please refer to the separate section on our website that contains the links for the grants, these links include the ‘price-caps’. We’ll help you determine your eligibility and calculate your stamp duty costs.
Yes! A guarantor loan allows a family member (usually a parent) to offer part of their property equity as security. This can help you:
Avoid paying Lenders Mortgage Insurance (LMI)
Secure a loan with a smaller deposit
We’ll ensure both you and your guarantor fully understand the responsibilities and risks involved.
In addition to the First Home Owner Grant (FHOG), other schemes may include:
First Home Loan Deposit Scheme (FHLDS): Allows eligible buyers to purchase with as little as 5% deposit without LMI.
Stamp duty exemptions or concessions: Varying by state.
First Home Super Saver Scheme (FHSSS): Enables you to use voluntary super contributions to save for a deposit faster.
We’ll explain these options and help you access the right programs for your needs.
Choosing the right loan depends on:
Fixed vs. variable rates: Fixed provides certainty; variable offers flexibility.
Loan features: Options like offset accounts, redraw facilities, and repayment flexibility can save you time and money.
Loan term: A shorter term reduces interest but increases repayments.
We compare loan options across multiple lenders to find the right fit for you.
You’ll generally need at least a 10% deposit of the property’s purchase price, plus funds to cover additional costs like legal fees, inspections, and stamp duty.
Some lenders may accept a 5% deposit, but this will usually require Lenders Mortgage Insurance (LMI).
To avoid LMI, a 20% deposit is typically required.
At Proteger, we’ll help you understand your deposit options and structure your loan to make buying your first home as affordable as possible.
This depends on market conditions and your financial situation.
If interest rates are low and property prices are rising, it’s often better to buy sooner rather than later—property price growth can outpace your savings. On the other hand, saving a larger deposit can help you reduce your loan amount and avoid LMI.
We can guide you on the pros and cons based on current market trends and your goals.
Beyond your deposit, there are additional costs you’ll need to plan for, including:
- Mortgage registration: ~$210
- Loan establishment fees: ~$600
- Conveyancing/solicitor fees: ~$1,000
- Building and pest inspection: ~$500
- Removalist fees: ~$160 per hour
At Proteger, we’ll help you budget for these upfront costs, so there are no surprises.
While not legally required, a building inspection is highly recommended. It ensures the property is structurally sound and identifies any hidden issues that could cost you down the track.
A small upfront investment in a building and pest inspection can save you thousands in unexpected repairs later.
The First Home Owner Grant (FHOG) is a state government incentive for first-time buyers.
It varies by state and in WA it is a one off payment of $10,000 that can assist with the purchase of a new home.
In some cases, it also includes stamp duty exemptions or concessions.
Please refer to our separate section on the website that contains the links for all of the grants. We can help you navigate the eligibility criteria and maximise any grants or concessions you qualify for.
Lenders Mortgage Insurance (LMI) protects the lender if you default on the loan. It applies when your deposit is less than 20% of the property’s value.
While it adds to your costs, LMI can help you secure a home sooner if saving a larger deposit isn’t feasible.
We’ll explore strategies to help you avoid or reduce LMI wherever possible.
