Welcome First Home Buyers!
Buying your first home can be an overwhelming process, but you don’t have to navigate it alone. At Will Bell Mortgage Broker, we’re here to guide you every step of the way. With over a decade of experience, we provide expert advice and support to make your home buying journey smooth and successful.
Why Choose Will Bell Mortgage Broker?
Expert Guidance
With 15 years in finance and over a decade in mortgage brokering, Will Bell offers the expertise and personalized service you need to secure the best home loan.
Tailored Solutions
We understand that every first home buyer’s situation is unique. We provide tailored advice and solutions to meet your specific needs and goals.
Comprehensive Support
From understanding home loan options to accessing first home buyer grants and schemes, we’re here to support you throughout the entire process.
The First Home Buyer Journey
The first home buyer journey is never easy. In fact, generally there is stress and uncertainty throughout the process. The number 1 issue for first home buyers is that they don’t know what to do. Everyone’s an expert when it comes to this stuff, you’re probably thinking about a specific someone as you’re reading this. Then you turn to the internet but that just makes it more confusing. Here’s the thing. We live in a world full of information and most of it doesn’t matter. I’ve been helping first home buyers get in their own homes for 13 years.
You’ll be getting the inside information from a seasoned professional. By joining the list you will go from being a Rent Trap Resident to a Home Sweet Homeowner in no time. You’ll get access to:
- Informative videos on things like deposits, family guarantees, and first home buyer schemes
- Important links to calculators, qualification tools
- All the new scheme updates – they are coming thick and fast!
- Guiding you on how to buy your first home
Take the Stress Out of Buying Your First Home!
What Does a Mortgage Broker Do?
Think of us as your personal Sherpa guiding you up the mountain of homeownership. We don’t just help you secure a home loan; we provide comprehensive support, including:
Navigating Home Loans
We help you understand the different home loan options and find the one that suits you best.
Accessing Grants and Schemes
We identify and assist you in applying for relevant first home buyer grants and schemes to maximize your benefits.
Ongoing Support
From initial consultation to final settlement, we're with you every step of the way.
How Does a Home Loan Work?
A home loan involves borrowing money from a lender to purchase a home. Here’s what you need to know:
Deposit
You generally need a certain amount of deposit to secure the loan.
Income
You must show sufficient income to make the home loan repayments.
Lenders Mortgage Insurance (LMI)
If your deposit is less than 20%, LMI may be required to protect the lender in case you can't repay the loan.
First Home Buyer Schemes and Grants
First Home Guarantee
The government acts as a guarantor, reducing the need for Lenders Mortgage Insurance (LMI) and often leading to lower interest rates.
First Home Owner Grant (FHOG)
Receive $10,000 for purchasing a new home, which can be used towards your deposit.
Stamp Duty Concessions
Potentially waive or reduce stamp duty costs based on your home’s purchase price.
First Home Super Saver Scheme
Save for your first home using your superannuation fund, benefiting from potential tax savings and faster accumulation of a home deposit.
Help to Buy
Pending parliamentary approval, this scheme could assist first home buyers by reducing the deposit requirement and increasing borrowing capacity.
State Government Co-Ownership Schemes
Programs in NSW and VIC allow buyers to increase their borrowing capacity by up to 25%, making it easier to enter the property market.
How Much Deposit Do I Need?
The amount of deposit needed can vary. While a 10% deposit is a good rule of thumb, schemes like the FLG can allow you to get in with as little as 5%, or even 0% with a family guarantor.
The First Home Buyer Purchase Process
Pre-Approval: Secure a pre-approval before you start shopping for a home.
Conveyancer/Broker: Organize a conveyancer or buyer advocate to review contracts and ensure everything is in order.
Contract Signing: Include finance and building & pest inspection clauses for protection.
Approval: After signing the purchase contract, the lender will conduct a property valuation and finalize the loan approval.
Settlement: Your conveyancer will arrange the settlement, and soon you’ll be ready to move into your new home!
3 Key Tips for First Home Buyers
Maintain Good Credit
Pay your bills on time and avoid overdrawing your accounts.
Get Pre-Approved
Understand your loan options before you start house hunting.
Seek Professional Help
Avoid the information overload and let us guide you through the process.
Ready to Take the Next Step?
Must-Read Articles for Your Home Buying Journey
Disclaimer: The content of this page is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.