First Home Buyers

Whether you have spent years saving and preparing to buy a home, or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless. Here are some tips to help you with the process of becoming your own landlord.

First Home Owner Grant

To offset the impact of the introduction of the goods and services tax (GST), the Commonwealth has requested that the States and Territories assist first home buyers through the establishment of the First Home Owner Grant (FHOG). For more information please visit

https://greatstartgrant.osr.qld.gov.au/

Prequalify for a loan

Being prequalified for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer.

Shop for mortgage rates and terms

A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.