First home buyer's loans reviewed - Getting into the property market

The increasing cost of real estate across Australia is making it increasingly difficult for first home buyers to get into the property market. With this in mind, home lenders have come up with more innovative loan options in order to help first home buyers get into the property market. Here we look at some of the first home buyer loans available today that are helping more Australians get into their first home.

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No deposit home loans

No deposit home loans allow first time home buyers to borrow 100 percent or more of the value of the property. This allows first home buyers to get into the property market without having saved a large deposit. No deposit home loans are available from many bank and non bank lenders. These first home buyer's loans are available to both owner occupiers and investors. So whether you're buying your first home as an investment or to live in, a no deposit home loan may be suitable for you.

Find out more about no deposit home loans on our home loan resources page.

Family pledge home loans

These first home buyer's loans offer the opportunity for family members with equity in their homes to help first home buyers get into the market. These first home buyer loans allow other family members, usually parents, to guarantee a portion of the loan using the equity in their own homes. The amount guaranteed can be set by the borrower and their family members who are guaranteeing the home loan. These loans are a great option for young families trying to get into their first home.

Find out more about family pledge home loans

Other concessions for first home buyers

For first home buyers in Australia, the Federal and State Governments will help you out. The Federal Government provides a First Home Owners Grant of $7,000 to eligible first home buyers, while the various State Governments offer concessions on stamp duty. For example, in NSW stamp duty is not payable by eligible first home buyers while in Qld and Victoria concessions apply.

You can find more information on the First Home Owners Grant and the stamp duty concessions available.

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Home loans in Hobart

While Hobart's housing market is strong, housing affordability has actually improved throughout 2006. Therefore, this improved housing affordability provides the perfect opportunity for new home buyers in Hobart to get into the property market before house prices rise further. Here are some tips for first home buyers in Hobart on home loans and the First home Owners Grant.

Got no financial records? Don't worry, you may still get a home loan

If you have little or no financial records, in the past you would have found it very difficult getting a home loan. These days however, there are home loan options available to you with no doc and low doc home loans. Here we take a look at the home loan options available to those without the detailed financial records normally required by home lenders.

Mortgage brokers in Sydney

Over the past decade or so, the Sydney property market has been the hottest in the country. But while this has changed over the past year or more, one of the legacies of Sydney's recent property boom has been the explosion in the number of Sydney mortgage brokers. For Sydney home buyers, this highly competitive mortgage broker market provides an excellent opportunity when seeking the services of a Sydney mortgage broker. Here we provide some tips on how to find the best broker for your situation.

Home Loan Redraw Facility How Can It Benefit You?

Today, there are many different innovative features available on home loans. Some of these features, including redraw facilities, can help you save money on the total interest costs of your home loan over the term of the loan. Here we look at the redraw facility and how it could benefit you.

Introductory home loans offer highly competitive interest rates - But whats the catch?

With the intense competition in Australia's home loan market today, home mortgage lenders are working harder and harder to capture our attention in order to win our business. One of the ways in which mortgage lenders attract our attention is by offering introductory loans with low interest rates for a period of usually between three and 12 months. Here we take a look at the introductory home loan detailing the benefits & pit falls of such an offer.