First Home Buyers

First Time Home Owner

Becoming a first time home owner is an exciting time but it can also be a little daunting, you can feel like there’s so much to know, especially regarding home loans – how much can you borrow, can I afford my living costs, what government grants am I entitled to? This is where having a member of our team at Finance Empire guiding you through the process, will give you peace of mind and a seamless, stress free experience.
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first time home owner

How can we help you?

As Mortgage brokers, we help potential borrowers like yourself, arrange finance in Australia. We like to meet with you prior to you looking for your first home so we can discuss how much deposit you will need, if you need to pay mortgage insurance, lender time frames, the loan process, settlement details and answer any questions you may have. These services are generally free and our professional team has the latest knowledge of the most competitive loans, offers and government grants in the market.

Once you’ve found the property you would like to purchase, we have access to hundreds of products from a wide range of lenders available that best suit your property goals. We assist you with all current first home buyer schemes, benefits and exemptions to help you get into the housing market with as little as 5% deposit or 2% for single parents and we keep you up to date and informed every step of the way.

The difference between a mortgage broker and a bank

When considering a mortgage broker it’s important to make sure they are accredited by mortgage finance associations most commonly Mortgage & Finance Brokers Association of Australia (MFAA). and Finance Brokers Association of Australia (FBAA).

There are many reasons why choosing a lender on your own can be risky but the biggest reason would be that mortgage brokers have a legal responsibility to keep your best interest in mind whereas bank’s don’t. Lenders will promote their own products without offering a lot of insight to what other lenders are offering. This could mean that you’re not getting the best offer available to you.

Mortgage brokers have what we call a BID (Best Interest Duty), a legal obligation to get you a favourable outcome. Our team is always working to provide the best mortgage advice and lender recommendations offering the best solution for you.

Frequently Asked Questions

What is a mortgage broker?
A mortgage broker specialises in helping individuals and businesses obtain mortgage financing. They act as intermediaries between borrowers and lenders, researching and sourcing mortgage options from a variety of lenders to find the best possible rates and terms for their clients needs. Mortgage brokers guide clients through the application process, including the pre-approval, documentation, and underwriting stages. They also help clients with refinancing, transfers, providing guidance and support throughout the entire mortgage process.
Is it worth going through a mortgage broker?

A mortgage broker can be a valuable resource for individuals seeking a mortgage as they have access to a wide range of lenders, negotiate for competitive rates and terms, save time and offer guidance throughout the mortgage process. With their in-depth knowledge of the mortgage market, a mortgage broker can help clients navigate the various options available, understand the pros and cons of each option, and provide expert recommendations to find a mortgage solution that meets their unique financial needs and goals.

What’s the difference between working with a broker or bank?
By working with multiple lenders, mortgage brokers offer a wider range of home loan options, compared to the limited loan options offered by a single bank. It is in their best interest to get you into one of their products but this may not be in your best interest. Dealing with a mortgage broker allows you to access multiple loan options by simply consulting with one person – your mortgage broker. With their extensive network of lenders, mortgage brokers can help you find the best home loan option that meets your unique financial needs and goals.
Q: What services do you offer for first-time homebuyers?

A: As mortgage brokers, we assist potential borrowers in arranging finance in Australia. We provide free consultations to discuss deposit requirements, mortgage insurance, loan processes, and government grants, ensuring you’re well-informed. We hold your hand from application through to settlement and beyond.

Q: What steps should I take before looking for my first home?

A: Meeting with our team before house hunting allows us to discuss deposit needs, lender timeframes, and the loan process. We help you understand first home buyer schemes, benefits, and exemptions, making it possible to enter the housing market with as little as a 5% deposit (2% for single parents).

Q: Is it worth working with a mortgage broker?

A: Yes, working with a mortgage broker can be highly beneficial. They provide expert advice, access to a wide range of lenders and products, and a legal obligation to secure a favourable outcome for you.

Q: How much does it cost to work with a mortgage broker?<br />

A: Yes, working with a mortgage broker can be highly beneficial. They provide expert advice, access to a wide range of lenders and products, and a legal obligation to secure a favourable outcome for you.

Q: Can you provide more information about first home buyer schemes and benefits?

A: Absolutely, we’ll keep you informed about all current first home buyer schemes, benefits, and exemptions that may apply to your situation.

How to choose the right broker?
To choose a good mortgage broker, look for someone with experience and a positive reputation, access to a wide range of lenders, and who communicates professionally and transparently. Ensure they are licensed and accredited, and enquire about their fees and charges. A good mortgage broker will work in your best interest and help you find the best mortgage solution for your unique financial situation.
How much does it cost having a mortgage broker?
The fees and costs of mortgage brokers can differ based on the broker and the services they provide. Some brokers may charge an upfront fee or a percentage of the loan value. At Finance Empire, we generally don’t charge any additional fees to borrowers for our services, we receive a commission from the lender directly. If a fee is going to be charged this will be communicated in our initial conversation.
How do I get started?

That’s easy. Book in your initial discovery call with one of the Finance Empire team. Once we have had our chat we will be able to guide you through the next steps.

Q: What is a first-time homebuyer, and why might I need guidance?

A: Becoming a first-time homebuyer is exciting but can be overwhelming. Finance Empire can help answer questions about loans, affordability, government grants 7 schemes, and guide you through the process for a stress-free experience.

Q: What's the difference between a mortgage broker and a bank?

A: Mortgage brokers, accredited by organisations like MFAA and FBAA, have a legal responsibility to act in your best interest. Banks may not offer insights into other lenders’ offers, potentially resulting in less favourable terms.

 

Q: How do I choose the right mortgage broker?

A: Mortgage brokers, accredited by organisations like MFAA and FBAA, have a legal responsibility to act in your best interest. Banks may not offer insights into other lenders’ offers, potentially resulting in less favourable terms.

 

Q: What's the first step to get started with a mortgage broker?

A: To get started, simply reach out to Finance Empire for a consultation. We’ll schedule a meeting to discuss your goals and guide you through the process.

 

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