First Home Buyers Home Loans

Buying your first home is definitely a daunting task. At Internet Home Loans we make the process simple and easy. We will provide advice, education and make sure that you are placed into the right product.

There is much to know and a lot of products with all different types of features to sift through. This is where a mortgage consultant from Internet Home loan pays dividends. An Internet Home Loans consultant will set your facility up based on you requirements while taking special consideration of your 2 year, 5 year and 10 year plan.

A home loan is much about the structure as it is about the rate and fees. At IHL we will compare from the best lenders in the country and provide you with a few options to choose from.

When buying your first home there are a few key things which we will be discussing:

1. Deposit

Generally a 5% deposit is required unless you can provide equity from a guarantor such as a parent.

2. Saving History

Most lenders will need to have the 5% saved as Genuine Savings however at IHL we have options and lenders on board who do not require it to be genuine for the right customer.

3. Type of home loans

IHL has every lender and product on the market available to its customers.

4. First home owner grant

Being a first home owner you can take advantage of the governments first home owners grant. An IHL consultant will discuss in more depth all the ins and outs of FHOG.

5. Stamp duty

Stamp duty is payable on all property that you purchase. Some states currently have exemptions on stamp duty for first borrowers. An IHL consultant we will go through what the cost involved will be and any exemptions that you may be entitled to.

6. Lenders Mortgage Insurance

If you borrow more than 80% of the property's value, you will be required to pay LMI. LMI with IHL can be capped. A consultant from Internet Home Loans will discuss with you the cost of LMI and strategies of minimising it.

At Internet Home Loans we definitely feel comfortable assisting first time buyers. We have had huge success in the past and are experts in the field.

Based on the volume of first time buyer enquiry we receive, in 2011 we started a division focusing just on assisting first time buyers. The FTB home loan division has specialised consultants ready and waiting to assist you with your first purchase.