First Home Buyers · Getting Started
Your first loan shapes everything that comes after.
I went straight to my bank for my first loan. They gave me what suited them. Two years later I had to refinance the whole thing... and that cost me time, money and a chunk of my confidence. I'll make sure that doesn't happen to you.
Rebecca Tickner
Finance Broker · Maxfin
Sound familiar?
The problems I hear most often.
You don't know what you don't know
Offset accounts, redraw facilities, fixed vs variable, LMI... the jargon is overwhelming and nobody's explaining it in plain English.
You're not sure what you can borrow
You've heard different numbers from different people and don't understand how banks actually calculate your capacity.
You're worried about making the wrong call
The stakes feel enormous. One wrong decision on your first loan could cost you for years, and you want someone in your corner who's actually done this.
How It Works
Four steps. No surprises.
01
Understand Your Capacity
I run your real numbers using the same stress-test approach lenders apply, so you know exactly what you can borrow before you start looking.
02
Explain the Options
Fixed vs variable, offset vs redraw, P&I vs interest-only. I break down what each means for your situation without the jargon.
03
Apply with Confidence
When you've found the right property, I manage the application from start to settlement. No chasing, no surprises.
04
Set Up for What's Next
The right structure now means your first loan doesn't close doors on your second. I'll explain what to think about even before settlement.
In Practice
I went straight to my bank for my first loan at 21. They gave me what suited them, not me. Two years later I had to refinance the whole thing. That's the mistake I'd love to save you from.
Rebecca Tickner
What you get working with me.
No jargon, ever
Every concept explained in plain English before you sign anything. You should understand exactly what you're agreeing to.
First Home Owner Grant guidance
I'll help you understand what grants and schemes you might be eligible for and how to structure your application to qualify.
LMI explained honestly
Lenders mortgage insurance is sometimes worth paying and sometimes avoidable. I'll give you the actual trade-off for your situation.
Loan structure that leaves room to grow
Your first loan shapes the next one. I set it up so you have options when it's time for property two.
The full picture on costs
Stamp duty, conveyancing, building inspections, moving costs... I'll walk you through everything before you're surprised by it at settlement.
Someone in your corner
Settlement day is stressful. I've been through it. You'll have my number the whole way through.
Run The Numbers
See what you could actually borrow.
Know your real number before you start looking at properties.
1 · Your details
2 · Properties you already own
3 · Core debts
Banks assess your limit, not your balance. Assessed at 3.8% p.a.
Combined monthly repayments on personal and vehicle loans.
4 · Living expenses & loan settings
We'll use average living costs unless you enter your own.
Stress-tested at +3% buffer (APRA).
Questions
Frequently asked.
How much does a broker cost?
Generally, nothing. Banks pay me a commission when your loan settles, and it doesn't change your rate or your loan amount one bit. My service costs you nothing, plus you get a lot of support, education and guidance, all in your best interests. No-brainer, right?
Heads up: more complex or strategic work, like developments, house flips, or deals with claw-back risk, may involve an upfront fee. Always disclosed up front.
How much deposit do I need?
Just 5% if you're an eligible first home buyer. The federal government's 5% Deposit Scheme lets you buy with as little as 5% down and no Lenders Mortgage Insurance, which can save you tens of thousands. Outside of that, you're typically looking at 10-20% of the purchase price, plus costs. I'll check your eligibility and walk you through the trade-offs.
Which first home buyer schemes am I eligible for?
There are both federal and state schemes, and what you qualify for depends on where you're buying, the property price, and your income. The main ones include the 5% Deposit Scheme (no LMI), the First Home Owner Grant (FHOG), state-based shared equity schemes, and stamp duty concessions. Eligibility criteria vary considerably. Let me educate you on what's available in your situation so you can make the most of every dollar.
What's Lenders Mortgage Insurance and do I need it?
LMI protects the lender (not you) if you default. It's usually required when your deposit is below 20%, but eligible first home buyers can avoid it altogether through the 5% Deposit Scheme. When LMI does apply, it can be capitalised into the loan, which means you pay interest on it too. Sometimes it's worth paying to get into the market earlier. I'll give you the honest numbers.
Should I buy with my partner or alone?
It depends on your combined borrowing capacity, how you want to hold the property, and what happens if circumstances change. I'll walk you through the implications of each structure.
Fixed or variable rate?
There's no universal answer. Fixed gives certainty. Variable gives flexibility (especially if you want to make extra repayments). I'll explain what each means for your situation given current market conditions.
What is the First Home Owner Grant and am I eligible?
The First Home Owner Grant (FHOG) is a state-based grant for eligible first home buyers, generally targeted at new builds or off-the-plan purchases. The amount, the property price cap, and what qualifies all vary by state. I'll help you understand what's available where you're buying and whether your purchase qualifies.
How long does the process take?
From our first conversation to settlement is typically 4-8 weeks, depending on the lender and your situation. I'll give you a realistic timeline specific to your application.