First Home Buyers
Buying your first home can be the biggest and scariest, yet the most satisfying purchase you’ll make during your lifetime.
First Home Buyers
Buying your first home can be the biggest and scariest, yet the most satisfying purchase you’ll make during your lifetime.
Dispel Your Fears
The “scary factor” associated with buying your first home is usually based on not having enough information to make the decision that’s right for you. This is where we can help. We can guide you through the whole process from start to finish.
We'll Help You Answer Questions Like:
⭕ Are you ready to buy your first home?
⭕ What resources are available for me to reference?
⭕ How much can you borrow?
⭕ What are ALL the costs involved?
⭕ What should you be wary of?
⭕ What impact will buying a home have on my budget, savings, and financial plan?
Our Industry Insights Give You Options
Given our years of experience in the industry and insight gained through working with clients just like you, we’ve learned a few tips, hints and strategies along the way that we are happy to pass along to you.
For example… Often first home buyers think they can afford a home on their own, until they uncover all the hidden costs involved (like legal fees, mortgage insurance and stamp duty) and find instead that it could well be out of their present reach.
The dream doesn’t have to end there. Nor does it always have to wait.
In a situation like this, the first home buyers could get their parents or other family member to help by offering a guarantee.
Brokers often refer to equity in a home as “dead money in the ceiling”. Many families (possibly yours) have tons of money sitting in their properties as equity that could be used to help their children or family members to secure their needed first home loans.
Let Arch Home Loans show you how family guarantee can help you get into the market and save you thousands of dollars in costs.
For example… Often first home buyers think they can afford a home on their own, until they uncover all the hidden costs involved (like legal fees, mortgage insurance and stamp duty) and find instead that it could well be out of their present reach.
The dream doesn’t have to end there. Nor does it always have to wait.
Experience the Thrill and Pride of Owning Your First Home
Yes, buying your first home can be scary.
But it doesn’t have to be!
With Arch Home Loans helping you along, we’ll provide you the information, options, guidance and support you need to get you into the market so that you can experience the thrill and pride of owning your very first home!
FAQ
Why should I use a mortgage broker instead of going directly to a bank?
Mortgage brokers have access to a variety of lenders and loan products, potentially providing you with more options and better terms than if you were to approach a single bank.
How do I know if I qualify for a mortgage?
Mortgage brokers can assess your financial situation and guide you on the likelihood of loan approval. They can also provide advice on steps to improve your eligibility.
What information do I need to provide to get started with a mortgage application?
Typically, you’ll need to provide details about your income, employment, credit history, and other financial information. The mortgage broker will guide you through the required documentation.
How does the mortgage application process work with a broker?
The process involves an initial consultation to understand your financial goals. The broker will then recommend suitable loan options, assist with the application, and facilitate communication between you and the lender.
What types of mortgage loans are available, and how do I choose the right one?
Mortgage brokers can help you explore various loan options, including fixed-rate mortgages, adjustable-rate mortgages, FHA loans, and more. They will guide you in choosing the loan that best fits your needs.
How long does it take to get a mortgage approved through a broker?
The timeline varies, but a mortgage broker can help streamline the process. Factors such as document availability, property appraisal, and lender processing times can influence the overall duration.
Can I get a mortgage if I have a less-than-perfect credit score?
Yes, some mortgage brokers specialise in assisting clients with varying credit histories. They can explore available options and provide guidance on improving your creditworthiness.
What is Lenders Mortgage Insurance?
In essence, Lenders Mortgage Insurance (LMI) enables you to buy a property with a reduced deposit.
LMI serves as a safeguard for the lender (not the borrower) in the event of your default and the subsequent sale of the property at a price lower than the remaining loan balance.
Borrowers are responsible for LMI premiums when the borrowed amount exceeds a specified percentage. While some lenders permit you to include the LMI premium in your home loan, others mandate upfront payment.
A Word From Our Clients
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