Buying your first home brings plenty of questions. Our Perth team helps you understand your potential budget and explore home loan options before you take the next step.
Your deposit is only one part of preparing to buy. Your income, expenses, existing commitments and purchasing costs also matter. We help you work through these details and understand what a lender may require.
We’ll discuss loan features and repayments, and help identify first home buyer assistance that may be relevant. Any assistance remains subject to current eligibility rules and lender approval.
Review your savings and potential borrowing capacity.
Explain suitable loan options and the application requirements.
Guide you from your first conversation through to settlement.
Buying your first home involves more than saving a deposit. Consider how repayments will fit alongside everyday spending, future plans and ownership costs such as council rates, insurance and maintenance. Allowing for unexpected expenses can help you set a comfortable budget.
When comparing loans, look beyond the interest rate. Fees, repayment options and features such as offset accounts or redraw can also influence whether a loan suits your needs.
FI Collective helps you explore suitable options through our lender panel, understand the costs and prepare for your application. Whether you’re building your savings or attending home opens, we’ll help you understand your position and next steps.
Deposits commonly range from 5% to 20% of the purchase price, depending on the lender and the loan. You will also need funds for costs such as stamp duty and lenders mortgage insurance, which our calculators can help you estimate. We will work backwards from your goal to set a realistic savings target.
Western Australia offers the First Home Owner Grant and the Government 5% deposit scheme for eligible buyers of new homes, along with stamp duty concessions for first home buyers. Eligibility rules, property value caps and amounts are set by the WA Government and change from time to time. We will check what currently applies to your situation and build it into your budget.
Depending on the property and loan, you may need to allow for settlement or conveyancing fees, building and pest inspections, loan fees, government charges and moving expenses. Transfer duty and lenders mortgage insurance may also apply, depending on your circumstances and eligibility for concessions or assistance.
We can help you identify likely lending costs so you have a clearer picture of the funds you may need.
Yes. An early conversation can help you understand your potential borrowing position, what information a lender may require and whether applying for pre-approval could be useful.
You don’t need to have chosen a property to start exploring your options. Pre-approval may help guide your search, but it is conditional and does not guarantee final approval for a particular purchase.
Not sure where to start? Tell us what you’re planning, and our team will help you understand your finance options and what comes next.
