The new financial year brings some killer home loan deals for first home buyers!

 In First Home Loan, Interest Rates, Latest news, Research, Tips

The 2018/19 Financial Year is already here, as the property markets across the country continue to cool. Not only are property sellers finding it hard to attract buyers but Australian lenders are also looking to get their financial year off to a robust start by offering some enticing offers for first home buyers.

The first and most important step of your first home buying journey is the ‘home loan pre-approval‘. At FHBA, our team of expert FHBA Coaches, who are also fully qualified Lending Advisers (Mortgage Brokers), always suggest our clients get a home loan pre-approval before taking on the more exciting step of searching, inspecting & bidding for your first home. It ensures you know exactly where you stand in terms of the maximum price you can bid on a property.

For first home buyers who are looking to start the process of finding their first home over the next few months, this is a must read edition of our home loan specials. We have handpicked some of the latest first home loan offers that are currently available through our exclusive first home buyer home loan service – FHBA Mortgagesbelow:

1. Killer variable rate 3.39% (Comparison rate 3.45%)

One of the lowest rates on offer from one of Australia’s niche lenders. By selecting this product you can achieve:

  • 100% Home Loan Offset account
  • No ongoing fees
  • No credit scoring
  • Available to any first home buyers across the country

This product is not available directly to first home buyers, only through mortgage brokers + a 20% deposit is required in order to be eligible for this product


2. One Big 4 bank offering low rates for fhb’s + other rewards

This bank is offering the following special rates

  • An exclusive 3 Year Fixed Rate² offer from 3.79% for fhb’s only with:
    • $0 Establishment Fee
    • $0 Monthly Account Fees
  • An exclusive 5 Year Introductory Variable Rate offer from 3.79% for fhb’s only with:
    • $0 Establishment Fee
    • $0 Monthly Account Fees
  • A  2 Year Introductory Variable Rate offer from 3.59% with:
    • $0 Establishment Fee
    • $0 Monthly Account Fees

In addition to the above rates, first home buyers may also be eligible for the following rewards:

  • 40% off Samsung products (perfect for electronics & whitegoods)
  • $500 Samsung Cashback where you spend more than $500 on Samsung goods
  • 200,000 Velocity Points (which you can use for flights) if you choose the packaged product – please note the rates may be slightly higher under a package


July 2018 first home loan specials

Get cracking on your first home loan pre-approval right here, some pre-approvals are valid for 180 days!


3. Special treatment of Bonus Income

Have you already approached a lender who has not accepted your income because you have only 1 year’s worth of bonus income?

At FHBA Mortgages we have access to a few lenders who will take into account 80% of your bonus income for the latest financial year, allowing you to maximise your borrowing capacity. The good news is that you won’t need to pay a higher rate in order to get your bonus income assessed at the higher level – you will be eligible for rates from 3.74%.

Simply click below to contact us, so we can assist you with your Bonus Income scenario.


4. Special 5 year fixed rate offer

Are you a first home buyer who is worried about rising interest rates and would like to fix your interest rates to provide you with a certainty of repayments? We have access to one offer that may be one to seriously consider – see below!

Key features of this offer include:

  • 5 year fixed rate at 3.99% (comparison rate 4.38%)
  • Can borrow up to 95% of the property purchase price (inclusive of LMI)
  • Waiver of the annual package fee for the life of the loan
  • The minimum lending amount required is $150,000
  • You can split this with a variable rate product at 3.79% (comparison rate 3.79%) to take advantage of the offset account

This offer has been extended and is available to first home buyers only, until further notice!


4. $1,000 Conveyancing Rebate offered by a major lender

Conveyancing fee rebate up to $1,000 for first home buyers who apply for a loan of at least $250,000 before 31 December 2018.

This offer is only available to first home buyers who are eligible for their State’s Stamp Duty concessions/exemptions and/or the first home owner grants (FHOG).

You can borrow up to 95% of the property purchase price with this particular lender. 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 Non-Genuine Savings – These are sums of money that may have been gifted to you or received as a lump sum from a transaction, but have not been genuinely saved over time, e.g. Gifts, tax refunds, inheritances etc…


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. 

Written By,

First Home Buyers Australia

Get a great finance deal to assist you with your first home purchase

Recommended Posts
First Home Buyers Australia - FHBA

Sign up to our Savers Club:

Sign up to our Buyers Club: