2019 brings first home loan specials for fhb’s

 In First Home Loan, Interest Rates, Latest news, Market Update, Other, Research, Tips

With talk of a potential RBA interest rate cut hitting the wires there are more specials available to first home buyers looking to buy in 2019!  Furthermore, lenders on the FHBA Mortgages panel have introduced some new policies which help those with unusual circumstances. 

If you want to discuss how you can get a ‘home loan pre-approval‘ and just want to know what specials you may be eligible for, why not give us a call on 1800 342 287 (1800FHBAUS).

Whilst January is a quiet month, there are some bargains or good buying opportunities that present themselves, especially with the cooling down in property prices across the country. This means it is a good idea to get your pre-approval sorted now if you are planning to buy, after all, there are plenty of options out there with listings at a record level in some areas. We have handpicked some of the latest home loans offers that are currently available through our exclusive & complimentary first home buyer home loan service – FHBA Mortgagesbelow:

1. The unbeatable rates for a 12% deposit loan!

A mid-tier lender is offering a great special for those first home buyers looking to cash in with a low deposit but still get some unbeatable features:

  • Only available for a limited time
  • Variable rate of 3.64% (Comparison Rate 4.03%)
  • Borrow up to 90% of the property value (inclusive of LMI³)
  • Fixed rate of 3.76% for 3 years (Comparison Rate 4.59%)
  • Available for construction & land!
  • 100% offset account available

This special is for a short time only and we can turn around a fully-assessed pre-approval or an unconditional approval within 3 business days!


2. Special offer for South Australian First Home Buyers

One well-regarded lender (owned by a major bank) is offering a special product that is available to those first home buyers looking to borrow up to 95% of the property value with an interest rate of 3.69% (Comparison Rate 3.70%).

Other important features of this product includes: no fees (upfront or ongoing), ability to use your rental ledger in lieu of genuine savings and  LMI capitalisation¹ available.


If you want to buy in 2019, get cracking on your first home loan pre-approval right here!


3. Getting a home loan whilst on probation

Have you already approached a lender who hasn’t used your income because you haven’t worked enough and are still under probation? We find this is very common for aspiring first home buyers who approach banks directly- not all banks will consider this!

At FHBA Mortgages we have access to a few lenders who will take still approve your first home loan if you only have one payslip and are subject to a probationary period. The good news is that you won’t need to pay a higher rate in order to get your overtime income assessed at the higher level – you will be eligible for very low rates from 3.69%!

Simply click below to contact us, so we can assist you with your short-term employment situation – we are the short term employment specialists!


4. $2,000 Cash back from a non-conforming lender! Put some cash back in your pockets!

Non conforming lenders help first home buyers with credit issues or unusual circumstances. This lender will just about look at the below and offer you a $2,000 cash back in the process:

  • No credit scoring (if you have credit issues, this lender will consider lending to you!)
  • Construction up to 95% LVR (non-genuine savings)
  • Unlimited debt consolidation
  • Payment of tax debt
  • Discharged bankrupt > 1 day
  • Unlimited defaults < $1,000 (Near Prime/Specialist)
  • 40 Year loan terms available
  • One day employment situation
  • Low-income earner specialists

Click below to get started with your first home loan, especially if you have some credit rating issues!


5. Avoid unexpected interest rate increases by fixing your construction loan

A major lender is offering a great fixed rate deal for those first home buyers looking to fix their land and construction loan – not many banks will provide this

The 3 year fixed rate that only first home buyers are eligible for is 3.79% and you will pay only interest during the construction period, assisting you by giving you an exact indication of your repayments so you can budget accordingly.

You can borrow up to 95% of the property purchase price with this particular lender – allowing you to get into the market with a small deposit. To find out more about this product, please click below:


Glossary of Terms:

¹LMI Capitalisation –  Whereby the Lenders Mortgage Insurance premium is not paid upfront by the borrower but instead added onto the total loan balance and therefore paid over the term of the loan by the borrower

² Fixed Rate – A fixed interest rate loan is a loan where the interest rate doesn’t change during the fixed rate period of the loan giving you certainty in your repayments

³ LMI – Insurance premium charged by mortgage insurers – this protects the bank in the event of the borrower defaulting on their home loan obligations.


Every aspiring first home buyer’s situation is different, therefore it is important to get some expert advice on which product is suited to your needs. Are you looking to compare these different home loan products? Perhaps you just want to know your borrowing capacity or get a better understanding of how your first home loan works? Click here to speak with an FHBA Mortgage Broker.

Disclaimer: The information on our website including this page is general in nature and should be solely relied upon. The advertised rates above were true and correct at the time of the publication. The rates do not take into account other fees and charges which you should also consider. The comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The credit license responsible for the mortgage service offered to clients is Mortgage Australia Group Pty Ltd, Australian Credit License (ACL) number 377294, Australian Business Number (ABN) 99 091 941 749. Mortgage Australia Group Pty Ltd is a member of the Mortgage & Finance Association of Australia (MFAA). FHBA Pty Ltd is an authorised credit representative of Mortgage Australia Group Pty Ltd. You should seek professional advice when obtaining finance and purchasing your first property. 

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First Home Buyers Australia

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