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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Featured Home Loan Information

Refinancing your current home loan or home mortgage

With today's wide choice in competitive home loans, many home owners are tempted to refinance their home loans. Refinancing can prove to be a valuable option for home buyers but it can also have its traps. Here we look at some of the benefits as well as the risks, associated with refinancing.

Interest only home loans lower repayments to suit investors

Interest only home loans are popular among property investors because they allow the investor to make lower monthly repayments on the home loan. This is because unlike other home loans, repayments are made on the interest portion of the loan only. Here we take a look at interest only home loans.

Reduce your interest payments with a line of credit mortgage

A home loan with a line of credit allows you to put all or most of your salary into your home loan and make the bulk of your purchases through the month by using your credit card and taking advantage of the interest free period. By doing this, you can reduce the outstanding balance of your home loan thereby saving you money through reduced interest charges. Here we look at line of credit home loans available in Australia including the benefits and who they would most suit.

How to become a mortgage broker

So, you want to become a mortgage broker. Before you can start, there are some requirements you will need to meet. Here we provide information on how to start your career as a mortgage broker including mortgage broker training requirements, courses available and ASIC requirements.

Standard variable home loans

Perhaps the most common type of home loan for Australian home owners is the standard variable home loan. The standard variable interest rate home loan calculates interest charges based on the Reserve Bank of Australia's current official interest rates. Standard variable rate home loans offer greater flexibility than the fixed interest rate home loan option. Here we look at some of the advantages of a standard variable home loan.