First Home Buyers

Home loans for the first time buyer

Learn more about buying a new home and the First Home Buyer options available with eChoice. eChoice compares hundreds of home loans from over 25 lenders to match the right loan to your needs!

If your looking for the the latest free Home Loan Calculators or to talk with an experienced Home Loan Consultant about your options, try eChoice – it’s Online, it’s Easy & it’s Free! – Click Here

What category of first home buyer are you?

Sorting through the range of first home buyer loan options can be daunting. To help you navigate the maze, we have created some scenarios which will illustrate the advantages and disadvantages of the different home loan types to help assist you compare home loans.

Want to keep it simple? Try a basic home loan

Donna and Ian are looking for a first home buyer loan to purchase a house in which to raise a family. Their first concern is stability and finding the lowest interest rate. In this case, the ideal solution is a basic home loan. Basic home loans typically offer fixed interest rates lower than the standard variable rate at the expense of reduced flexibility.

Worried about uncertain interest rates? Try a split rate loan

With the future of interest rates so uncertain, Ken is unsure whether to make the first home buyer loan a fixed or variable interest rate loan. The solution is a split rate home loan. This loan puts a proportion of the loan on a floating or variable interest rate and the other part on a fixed rate. These loans generally offer all the features of a normal loan, while providing a mixture of certainty (the fixed rate portion) and flexibility (the variable rate portion).

Just married? Try a Honeymoon home loan

Jo and Michael are recently married and are looking for a first home buyer loan. They are using the Federal Government’s First Home Owners scheme to help with their deposit. This will leave them with very little spare cash after moving in. For this couple, the solution is a honeymoon home loan. Honey moon home loans are similar to a standard home loan, except they offer a lower rate of interest for a fixed period at the start of the loan. This can be particularly beneficial for first home buyers looking for cheap home loans as the lower repayments coincide with the costs of purchasing and setting up a new home.

For the latest free Home Loan Calculators or to talk with an experienced Home Loan Consultant about your First Home Buyer options – Click Here

There are a lot of borrowers who do not put into consideration other mortgage-related fees and expenses that can add an extra five to six percent of the property price and home loan costs. These fees must be paid to avoid problems in the long run.

Before settling on a property to buy, you must consider your budget first. What’s important is that you can easily sustain the repayment that the property carries. In relation to this, you must settle with what you need and not with what you want. A house that has the extra amenities might cost more expensive than a house that has all the essentials.

Split home loans will benefit you in times of market instability especially during periods of rate appreciation. With a split rate home loan, borrowers are immune against the higher rates while keeping their loan at normal variable rate prices.

Financial decisions made easy with mortgage calculator
When you purchase a real estate property, you must estimate the size of mortgage you can afford so that you can take the right financial decision. Mortgage calculator can calculate your monthly payments and figure out your amortization schedule.
Different types of mortgage calculator:
The calculators determine your [...]

Introduced on July 1, 2000, the First Home Owner Grant is a national plan that is administered by Australian states and territories and funded through the Australian Capital Territory Revenue Office. The grant was established to cancel the effect that the Goods and Service Tax imposes on home ownership.
Under this grant, first home owners who [...]