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First Home Buyers

Ask About Our First Home Buyers Program

​We help First Home Buyers with all aspects of the home loan process! Figuring out your home loan has never been easier thanks to the experts at Champion Mortgage Brokers. 

Up To Date Information

Buying a house is the biggest financial investment most people make in their lifetime which is why the professionals at Champion Mortgage Brokers are so important. In a competitive property market Government sponsored grants and initiatives are the foot in the door that help many, but these grants and schemes come and go, and their eligibility requirements can change. We have all the up to date information which can help make the difference between getting finance and being rejected.

The Best Grants

We’ve checked out the major housing grants and incentives around the country to give you the lowdown on some recent changes. Each state has different grants available and each has different criteria.

Helping First Home Buyers
Queensland has a number of great incentives first home buyers including;
The First Home Buyers Grant – If your contract is dated 1 July 2018 or later, you can get the Queensland grant of $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000).
First Home Buyer Stamp Duty Concession – You won’t be paying stamp duty of you purchase a home under $500,000.

Three New Government Schemes To Benefit First Home Buyers!

Buying your first home is an exciting time! As a professional broker, I am here to help you every step of the way. Did you know that the Australian Government has two new initiatives that support first home buyers? These are the First Home Loan Deposit Scheme (FHLDS) and the First Home Super Saver (FHSS) scheme.

First Home Loan Deposit Scheme (FHLDS)

What is it? FHLDS helps first home buyers purchase a home sooner by providing a guarantee allowing those on low and middle incomes to buy a house with as little as 5% deposit (lender’s criteria apply).

Who is eligible? Singles and couples that meet the following key checks: an income test, a prior property owner test, a minimum age test, a deposit requirement, and an owner-occupier requirement. Get in touch soon so we can check if you meet the criteria.

First Home Super Saver (FHSS) Scheme

What is it? FHSS allows you to make voluntary before-tax and after-tax contributions into your super fund to save for your first home. Eligible candidates can then access these contributions and associated earnings to buy their first home. As of July 2019, there have been changes to the scheme, including only applying to buy your first home in Australia, compared to the previous version that applies to any location.

Who is eligible? First home buyers who live in the premises they are buying or intend to live there as soon as practicable; and who intend to live in the property for at least six months within the first 12 months they own it. The buyer also must have never owned a property in Australia and have not previously requested a FHSS release authority.

Get in touch to learn more about these schemes and explore opportunities suitable for you. I can provide details on how each scheme works, the ins and outs, and the pros and cons that apply to your current situation. Contact me today check your eligibility.

Family Home Guarantee

What is it? – The Family Home Guarantee is an Australian Government initiative that aims to support eligible single parents with dependants in purchasing a family home. From 1 July 2021, 10,000 Family Home Guarantees will be made available over four financial years to eligible single parents with dependants, subject to their ability to service a loan. The Family Home Guarantee can be used to build a new home or purchase an existing home with a deposit of as little as 2 per cent, regardless of whether that single parent is a first home buyer or a previous home owner. Investment properties are not supported by the Family Home Guarantee.

Looking For The Perfect Home Loan?

Tips that can help first Home Buyers save a deposit on your first home.

An oldie but a goodie, this is a tip that always works if you’re prepared to stick with it. You simply need to pay yourself before you pay anyone else. The best way to achieve this is to designate one savings account – ideally at a different bank to your normal lender, to make it harder to access the money – and then transfer 10% of your net pay each pay period. It might mean you have to miss out on a few restaurant meals out throughout the month, or you may have to brown bag your lunch when you run out of cash towards the end of your pay cycle, but it will be worth it in the long run.

Bay is the ideal place to offload your unwanted household items in return for cold hard cash! From old curtains and CDs to unused fragrances, cosmetics and clothes, eBay can generate hundreds of dollars for you in a matter of weeks, if not thousands. If you’re not confident about your ability to convert your clutter into cash sites like eBay can help

This isn’t exactly a straight savings tip, but it is by default, as you’ll be saving on interest payments. Paying off your debts makes sense for two main reasons, it will increase the amount of money you can borrow, and it will free up your cash to use towards mortgage repayments. It definitely pays to down a nut out a budget now so you can get rid of your credit card debt and personal loans before you commit to a mortgage worth hundreds of thousands of dollars!

Although it’s no fun, tightening your budget a little can be an effective strategy for saving money for your first home deposit. You can start by eliminating or downgrading the luxuries from your life, and then using the cost savings to fund a savings account. You don’t have to skip everything at once, however; instead, eliminate one luxury per month, pocket the savings, and then move on to the next thing. Over a period of twelve months, you could easily save a few thousand dollars by alternating between life’s little luxuries! For instance, you could:

– Put your cable television subscription on hold for one month (saving = $80)
– Take your lunch to work every single day for a month (saving = $200)
– Don’t hit the shops for any new clothing for 4 weeks (saving = $300)
– Skip alcohol for one month (saving = $100-$500 )

Find the perfect home loan for you.