Buying your first home is a rewarding experience. But it can also cause a lot of stress, especially when you do not have the right help to lessen your financial burdens. Fortunately, first-time home buyers have the option to take: First Home Buyer Loan Sydney of Key Strategy Solutions.
From understanding true affordability and qualifying for a mortgage to managing their cash flow after purchasing a home, first-time homebuyers face a steep learning curve.
For first-time homebuyers, the various financing options can seem overwhelming, but researching the basics of property financing can save you a lot of time and money. A first-home buyer loan has many advantageous first home buyers grants in Sydney and options available.
A better understanding of the market where the investment property is located and whether it offers incentives to lenders may assist you in securing a better deal.
Determine your long-term goals and how owning a home fit into those goals as your first step. You might want to transform all those “wasted” rent payments into mortgage payments that give you equity.
Why You Need First Home Buyer Loans?
First Home Buyer Loans are different from typical home loans because they are exclusive only to first-time home buyers, as the name suggests. Another remarkable thing that differentiates it from other home loan options is that you can get significantly lower interest rates for it. If getting the best deals in the market is tough, this option is perfect for you.
A first home buyer loan gives you access to various grants, loans, and financial aid that can ease the purchasing process of your investment property. Assistance for home loan first-time buyers includes tax credits, financial aid for education or down payments and closing fees. If your income is under certain limits, you might be eligible for assistance from your local, state, or federal government.
First Home Buyer Loan Demand Lower Deposits
You can put less money into buying the house with first home buyer loan financing. You will generally need to save up to 20% of the home’s sale price as a down payment when choosing other forms of funding. You can put as little as 3.5% of the home’s sale price down with a first home buyer loan. This allows you to use more money to pay for upgrades, moving costs, and new furniture.
Home Loan First Buyer is Simpler to Get Approved For
With the first home buyer loan support, applicants with less-than-ideal financial situations can still obtain loans. Typically, if your credit score is over 620 and your debt-to-income ratio is no higher than 41%, you’ll be able to qualify.
How Key Strategy Solutions Can Help You?
Key Strategy Solutions specialises in broking services. We have a team of mortgage brokers and home loan brokers in Sydney who can help you in your home buying journey. When you work with us, you experience the following services:
We Handle Your Paperwork
There are many requirements and prerequisites involved in applying for a home loan for first-time buyers. Key Strategy Solutions can help you sort out the paperwork and submit them to the lender of your choice.
We Point You to the Right Direction
We are partnered with over 20 credible lenders in Sydney. All of whom are well-versed in the area of home loans. Key Strategy Solutions and our lenders are working together to provide above-standard services and offers.
We Find the Best Loans for You
Our expertise combined with the connections we have with our partner lenders can prove highly beneficial to first-time home buyers out there. Best first home buyer loan Sydney deals? You can bet on us to deliver in no time.
Our Lenders
Working with the best mortgage broker in Sydney has its benefits. We know the credit criteria of 20 lenders and over 200 products. By working with you, we can ascertain the right product that will best suit your needs and grow with you. .
First Home Buyer Loan FAQ
We value our customers. That is why we have taken their most asked questions into one concise section, and have provided answers for easy reference.
How do I know if I am eligible?
Our home loan brokers can determine if you are eligible or not. They will conduct an assessment to know if you pass the requirements like proof of first-time home buying, submission of required documents, loan size of not over $850,000, and so on.
What are the exclusions?
Unfortunately, you cannot be granted a first home buyer loan if you are on home loan switches or internal refinances. Check with our home loan brokers today to learn more.
Do I need a deposit?
You need a minimum of 10% of the property’s back valuation as a deposit to qualify for this home loan option. Stamp duty is not payable.
What if I can only pay less than the desired deposit?
If you cannot meet the minimum deposit payment, you can opt for Lenders Mortgage Insurance (LMI). This is a one-off payment based on the amount borrowed and amount of deposit.
Can you also find conveyancing services for me?
Yes. Our all-around broking solutions include sorting your conveyancing arrangements with accredited conveyancing firms.
With Key Strategy Solutions, Your Dream Home Is Within Reach
With our first home buyer loan sydney, you have a better shot at finally living in the home of your dreams. Live the best life and apply today with Key Strategy Solutions, you number 1 mortgage broker in Sydney. We have highly-knowledgeable home loan brokers to get only the best deals for first time home buyers in Sydney. Call us now!