Buying your first home is an exciting time and likely be the biggest purchase you’ll make in your life. Although there’s a lot to get your head around – how much deposit you will need, how much you can borrow, your monthly repayments – taking that first step onto the property ladder can be exciting. Especially with us right behind you.

Step 1. How much can you borrow

You can estimate your borrowing capacity now using our handy calculators

Step 2. Do your maths to find out the real cost

Before you buy your first home, make sure you understand the costs involved – because there’s more to it than just the purchase price. In addition to your regular repayments, other expenses may include:

• Government stamp duty
• Solicitor/conveyance fees
• Building and pest inspection fees
• Home and contents insurance
• Renovating or building costs
• Mortgage insurance.

Not sure if you’re entitled to the First Home Owners Grant (FHOG)? Check the eligibility criteria here http://www.firsthome.gov.au/

Step 3. Get a pre-approval

Before you make an offer or go to auction, it’s a good idea to get a pre-approval from ACHL for your loan. It means your loan will be approved, subject to our lending criteria. It’s one way to confirm how much you could borrow. Any of our brokers can meet with you and discuss a pre-approval

Step 4. Find your perfect home!

Take your time and inspect as many properties as you can, in areas that fit your lifestyle needs. Think about what’s important to you and the services you’ll want to access easily, like public transport, schools and shops.

Step 5. A mortgage!

With your pre-approval done it should be quick and easy for your ACHL broker to organise mortgage documents. We will be with you through the whole process, and beyond.

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