We get it—buying your first home isn’t just about the money. It’s about making your dream a reality and marking a huge milestone in your life. The journey to homeownership can be a bit of a rollercoaster, but guess what? You don’t have to do it alone. We’re here to guide you every step of the way, with expert advice and support to make the process as smooth and stress-free as possible.
At More Than Mortgages, we take a personal approach to every client’s journey. We know every first home buyer has their own unique story and dreams. Our mission is to tailor our services to fit your specific needs, making sure you feel confident and informed at every stage. With us by your side, you can move forward knowing you have trusted partners dedicated to turning your homeownership dreams into reality.
Steps to Understanding the Home Buying Process
- Getting to Know You: We start by understanding your financial situation, property goals, and any concerns you might have. This helps us tailor our advice specifically for you.
- Education: We’ll explain the key concepts and steps involved in buying a home, including the responsibilities of owning a property.
- Assessment: We’ll review your financial health, including your income, debts, and savings. This is crucial in determining how much you can borrow responsibly.
- Credit Score Insight: Understanding your credit score is essential, as it impacts your loan options. We’ll help you interpret and improve your score if needed.
- Choosing the Right Loan: We explore different loan options and find the most suitable fit based on your financial situation and property goals.
- Application Preparation: We’ll help you gather all necessary documents required for the loan application, ensuring accuracy and completeness to avoid delays.
- Finding Your Home: Once pre-approved, you can start your property search. We can provide tips on what to look for and how to evaluate properties.
- Making an Offer: When you find the right home, we’ll guide you through making an offer and what to expect during negotiations.
- Loan Finalisation: After your offer is accepted, we’ll finalise your loan details with the lender to ensure everything is in place for the purchase.
- Settlement: We oversee the settlement process, coordinating with the lender, real estate agents, and solicitors to ensure a smooth transition to homeownership.
What to Expect from Your MTM Mortgage Broker
Our approach is personalised; we understand that each first home buyer is unique. Expect tailored advice that fits your individual financial situation and homeownership dreams.
We believe in clarity and openness. You’ll always know where you stand in the application process and what your options are.
Buying your first home can be overwhelming, but you’re not alone. We’re here to answer any questions and solve issues as they arise, ensuring you feel confident and informed.
As your trusted advisors, we’re committed to helping you understand the ins and outs of the mortgage process. From decoding financial jargon to understanding market trends, we’ve got you covered.
At More Than Mortgages, we’re more than just loan experts; we’re your partners in turning your homeownership dream into a reality. If you’re ready to take the first step or just need some questions answered, we’re here for you.
Call us or make an appointment with us today!
FAQs
You do not have to use a mortgage broker, but many first home buyers choose one because the process can feel overwhelming and the consequences of getting it wrong can be costly.
At More Than Mortgages, our role is to guide you through the entire journey, not just arrange a loan. We take the time to explain your options in plain English, help you understand what lenders are really looking for, and make sure the loan you choose suits your situation now and into the future.
We manage the lender communication, paperwork, and follow-ups so you are not left chasing banks or trying to interpret confusing emails. Just as importantly, we look out for potential issues early, before they become problems that delay approval or settlement.
Many first home buyers tell us they feel more confident knowing they have a dedicated broker in their corner, someone who stays with them from the first conversation right through to settlement and beyond. Our focus is on making sure nothing is missed and that you feel informed and supported at every step.
It depends on your situation, the lender, and the type of loan you are applying for. Traditionally, a 20 percent deposit is considered ideal because it can help you avoid additional costs like lenders mortgage insurance. However, many buyers are able to purchase with a smaller deposit, sometimes as low as 5 percent, depending on their circumstances.
There are also government assistance programs available for first home buyers that can reduce the amount you need to save. These programs vary from state to state and may include guarantees, grants, or stamp duty concessions. Eligibility often depends on factors such as income, property value, and whether you are buying on your own or with someone else.
Because these schemes change regularly and the rules differ across Australia, it is important to get advice that is specific to you. We help you understand which options may apply based on your income, location, and goals, and explain the pros and cons in plain English so you can make an informed decision.
Our role is to look at your full picture and help you work out what is realistic, not just what is theoretically possible.
Pre-approval is an assessment by a lender that gives you an indication of how much you may be able to borrow, based on your financial information, before you start house hunting. It is not a final loan approval, but it does give you a clearer idea of your borrowing capacity.
For most first home buyers, pre-approval is a smart place to start. It helps you shop with confidence, set realistic expectations, and avoid falling in love with a property that is outside your reach. It can also strengthen your position when making an offer, as agents and sellers often view pre-approved buyers as more serious and prepared.
That said, not everyone has pre-approval. Some buyers are still early in the process and want general guidance before committing to an application. Others may have circumstances that are still changing, such as employment, savings, or living arrangements, which can make it better to wait until things are more settled.
Pre-approval also has a time limit and is based on information available at the time, so it may need to be updated if your situation changes or if you take longer than expected to buy.
We help you decide whether pre-approval is the right step for you and, if it is, when to apply for it. Our goal is to make sure it supports your buying journey rather than creating unnecessary pressure or complications.
In addition to your deposit, there are several costs to be aware of when buying a home. These may include stamp duty, conveyancing or legal fees, building and pest inspections, lender fees, and government charges. The exact costs vary depending on the property, the loan, and where you are buying.
Some of these costs need to be paid upfront, such as inspections and legal fees. In certain situations, other costs may be able to be included in the loan amount, particularly if you have enough equity or are borrowing less than the maximum the lender allows. This is not always possible and depends on the lender’s policies and your overall position.
For first home buyers, there may also be concessions or exemptions available that can reduce costs like stamp duty. These differ from state to state and depend on factors such as property value, income, and whether you have owned property before.
Part of our role is to help you understand which costs you will need to pay upfront, which ones may be absorbed into the loan, and how this affects your borrowing capacity and repayments. We walk through this early in the process so you can plan properly and avoid last-minute surprises.
Every situation is different, but most loans take several weeks from application to settlement. Timing can vary depending on factors such as the lender, your circumstances, how quickly documents are provided, and whether valuations or additional information are required.
We outline the expected timeframes early, keep things moving behind the scenes, and keep you updated so you always know where things are at and what comes next.
At More Than Mortgages, you are supported by a team, not just one person. Your primary broker leads the strategy and remains your main point of contact. They are supported by a Client Partner (also a qualified broker), who manages the day-to-day progress of your loan and oversees a team of loan processors handling the detailed work behind the scenes.
This team structure allows us to stay across every stage of your application, follow up when needed, and keep you informed throughout the process, helping reduce delays and unnecessary stress.