How low can interest rates really go in Australia? Since the RBA October 2019’s rate cut to a new record low of 0.75%, first home buyers can now find more home loans with advertised rates below 3% on a variable…
Buying your first home can be exciting but also overwhelming for first home buyers – after all, it is probably the biggest buying decision you will be making in your life, thus far. This is where FHBA comes in! We…
Many aspiring first home buyers have different views on what the minimum deposit requirements are before they can successfully purchase their first home. Many believe that a minimum of 10% or 20% of the property purchase price is required in…
The Reserve Bank of Australia (RBA) has commenced 2018 by leaving the official cash rate on hold at 1.50% during their first rate review meeting for 2018. The cash rate has now been on hold since August 2016. We explore…
The Reserve Bank of Australia (RBA) ended their last cash rate review board meeting of the year the same way as all other board meetings in 2017 – by leaving the official cash rate on hold at 1.50%. We explore…
We have noticed a lot of first home buyers are confused about how banks and smaller lenders determine exactly how much you can afford to borrow for your first home. Unfortunately, it isn’t quite as simple as looking at your…
When applying for a home loan you’re usually asked to provide information on your financial position, including how much money you’ve saved. These savings will form part or all of your deposit that you put towards the purchase of your new…
Obtaining a home loan pre-approval is important so you don’t miss out on that dream home. A home loan pre-approval is when a lender assesses your financial situation and gives you an approved amount to borrow. It’s a vital step…
When it comes to buying property, carefully considering all your circumstances and options and having to act fast when you need to can be quite a challenging task for first home buyers. It’s good to be realistic about what type…