First home loan: Minimum employment period requirements
How long do I need to be working before I can get my first home loan? This is a question we often get asked from many aspiring first home buyers who are looking to get into the market for the…
Tag first home buyer loans
First home loan: Offset account or Redraw facility?
Mortgage offset or mortgage redraw – many first home buyers are unsure which option is better when it comes to choosing the features of their first home loan. In this special feature, we take a look at some of the differences…
Is it possible to get a first home loan as a temporary resident?
Many Australian lenders are not comfortable with lending to first home buyers, who aren’t Australian permanent residents or Citizens. For many lenders, it is too risky to lend to an applicant without permanent residency as they are concerned about a…
Are ‘online borrowing power calculators’ accurate & trustworthy?
“I have checked my borrowing capacity using a calculator online and found that I can borrow $xxx,xxx – why is this not my actual borrowing capacity when I go speak to a broker/lender?”. At FHBA Mortgages a lot of our…
Should I clear my debts or start saving for a deposit?
Should I clear my short-term debts (credit cards/personal loans) or save for my first home deposit? Our FHBA Coaches are asked the above question by many aspiring first home buyers who are unsure as to whether they should focus on paying…
FHBA Investigation: Why are fixed rates so popular with fhb’s
There is always a great deal of debate in the media around whether borrowers (more specifically, first home buyers) should choose to leave their interest rate variable, or go fixed (or a combination of both). With the RBA Cash Rate…
How does a bank’s assessment rate impact my borrowing power?
Many aspiring & current first home buyers assume that lenders use the current standard variable rate they are offering when figuring out a buyer’s borrowing power. Unfortunately, this isn’t true. Instead, lenders use an assessment rate to work out how much…
Buying your first home in January – good or bad idea?
‘What time of the year is best to buy a house?’ is an age-old question when it comes to determining when first home buyers should purchase their dream home. In reality, is there any one time that first home buyers…
Maximising your borrowing capacity as a first home buyer
With lending standards getting tougher by the day, aspiring first home buyers with low deposits are up against it when it comes to maximising their borrowing capacity for their first home loan. However, first home buyers can take matters into…
Hotspot in Focus: The ‘Garden City’ (QLD)
Toowoomba (nicknamed ‘The Garden City’) is a city in the Darling Downs region in the Australian state of Queensland. It is located 125 km west of Queensland’s capital city, Brisbane. It has developed into a regional centre for business and government…