We Help First Home Buyers With All Aspects Of The Home Loan Process
Buying a house is the biggest financial investment most people make in their lifetime which is why the professionals at Cairns Mortgage Brokers are so important. In a competitive property market Government sponsored grants and initiatives are the foot in the door that help many, but these grants and schemes come and go, and their eligibility requirements can change. We have all the up to date information which can help make the difference between getting finance and being rejected.
We’ve checked out the major housing grants and incentives around the country to give you the lowdown on some recent changes. Each state has different grants available and each has different criteria, Call us today for more information.
Regional First Home Buyer Guarantee
The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible first home buyers purchase a home sooner. It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.
The RFHBG aims to support eligible regional first home buyers to purchase a home in a regional area. From 1 October 2022 – 30 June 2023, 10,000 RFHBG places are available to eligible regional first home buyers.
This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
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QLD Government Stamp Duty Exemption
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You can claim a first home concession for transfer duty (sometimes called Stamp Duty) when acquiring your first residence if you meet certain requirements.
The first home concession only applies to a home valued under $550,000 and can save you up to $15,925. The home concession may still apply for a home valued over $550,000.
THE MEETING – THERE ARE USUALLY FIVE STAGES:
1. Introduction: will cover what will happen in the interview, information about the company you’re dealing with (their panel of lenders, or their products if a lender) plus their commissions and fees.
2. Qualification: provision of documents to support your financial situation and budget; discussion about the size of the loan you require and its use i.e. investment or principal place of residence.
3. Offer: discussion of loan products, matching you to a loan product/s, if using a lender a discussion about the types of loan products, other mortgage providers will also discuss products and compare the different loan products from their panel of lenders. Use of calculators to determine repayments and upfront and ongoing fees. Deciding what loan/s to apply for.
4. Application: Completing the application form, and declaring the information provided is correct.
5. Close: Informing what happens next, and up to settlement, expected time frame for the next contact and returning of original documents.
Hello
My name is Roger Ward, Cairns Most Awarded Broker
Roger has spent much of his career financing and advising home buyers and small to medium businesses. With hundreds of millions of dollars lending done over his career, and thousands of client interactions, Roger now works in a boutique finance business which relies solely on relationships he has developed with clients and the community.
