Services
First home buyers
Auzlending walks first home buyers through deposits, the government guarantee scheme, state grants and lender policies, then lodges the application with the lender most likely to say yes.
Who this loan suits
People buying their first home in Australia, including couples where only one partner is a first buyer. Often you have a smaller deposit, a shorter savings history and a lot of questions. That is normal and it is what we are here for.
What you need to apply
- Photo ID and proof of citizenship or permanent residency for the guarantee scheme.
- Two recent payslips, or tax returns if self-employed.
- Three months of statements showing genuine savings. Lenders like to see at least five percent saved over time, though gifts from family can help.
- Any HECS or HELP balance, car loans and credit card limits.
How we compare lenders for you
First we check what you qualify for: the Home Guarantee Scheme (five percent deposit, no lenders mortgage insurance, subject to income and price caps that change each year), your state's first home owner grant, and stamp duty concessions. Then we compare the lenders that take part in those schemes on rate, fees and speed. The right lender for a five percent deposit is often not the one with the lowest advertised rate.
What it costs
Nothing from you. The lender pays our commission at settlement, and we disclose it before you sign. If your deposit is under twenty percent and you are not on the guarantee scheme, lenders mortgage insurance will apply and we show you the amount up front.
How long it takes
Pre-approval in two to five business days. Scheme places are limited each financial year and are reserved at pre-approval, so starting early matters. Full approval after contract takes one to two weeks.
Questions people ask
Can my parents help without giving me cash?
Yes. A family guarantee lets a parent use equity in their home as extra security so you can borrow with a small deposit and no lenders mortgage insurance. We explain the risks to them as clearly as the benefits to you.
Does HECS debt affect how much I can borrow?
Yes. The compulsory repayment reduces your take-home pay in the lender's calculation. It is often worth a few thousand dollars of borrowing power per year of income, not a deal breaker.
Do I need to have found a property first?
No. Get pre-approved first so you know your budget and can move quickly when the right place comes up.
Related: home loans, the borrowing power calculator, and how the process works.
Want a real number, not a range?
A 20-minute call, no documents needed yet, no credit check.