FIRST HOME BUYER BROKERS

We make the mortgage process easier because we understand you are new to this process.

Why settle for an impatient broker when you can work with an expert who truly wants to walk you through all your questions? Choose us for personalized service, expert advice, and a mortgage journey that is more tailored to your needs.

First home buyer-1

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First home loan clients are our speciality

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Get expert opinion about Cairns property market

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Reviews from our Clients

5.0

5/5

Htet Aung

5/5
6 months ago - Google

About one month ago I was planning to buy a home and one of my colleague introduced me to Lauren’s service. Lauren is a professional mortgage broker. She did amazing job during a set time frame. Highly recommend to use this service for those whoever is planning to buy a home.

Simon Kupec

5/5
4 months ago - Google

Absolutely fantastic service at every step of the way! Lauren, Amy and the rest of the Eakins team went above and beyond to provide me with loan options, troubleshoot issues with my servicing ability and to ultimately get my application approved on great terms. Having worked with other brokers in the past, I am not sure you would get this level of tenacity and service anywhere else!

Anita Lowien

5/5
1 month ago - Google

Lauren, Amy and the team at Eakins Finance were absolutely fantastic! So much help and advice all along the way….to get us into our first home! Always available to give support….above & beyond! Can not thank this team enough for what they’ve done for us. Thank you, thank you.

MARKET THOUGHTS
2022 - 2023

By Lauren Eakins - Principal Broker

The year has seen continued strong sales in the FNQ region for property. For the latter part of the year, whilst rates have continued to affect the top end of clients borrowing power, the price of property has been stable. We believe the level is held up by pent up demand and a reduction in the number of listings for this time of year. The medium term outlook continues to be strong for houses under $600,000 as both investors and owner occupiers vie for the same stock. The tight rental market supports rental yield and assists investors rising costs of capital with increase to rental prices.

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Interest
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5.88

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p.a.

Home Loan
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5.88

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Buy your first home with confidence - what do you need to consider?

First-time home buyers must be well-informed of several crucial factors before embarking on their home-buying journey. These factors have the potential to significantly influence the process, costs, and overall outcome of the purchase.

“>It’s essential for every first-time home buyer to understand these 8 factors, which will not only increase your chances of making a smart investment but also help you find a home that truly meets your needs and expectations. A well-informed buyer is better equipped to make informed decisions, avoid costly mistakes, and ultimately find a home that they will love for years to come.

1. Home buying process

A first-time home buyer needs to familiarise with 4 main steps involved in the home buying process, including pre-approval, home search, home inspection, and closing. Pre-approval is an important step that helps the buyer determine how much they can afford to spend on a home, which is our area of expertise.

The home search process involves searching for homes that meet the buyer’s criteria and visiting open houses and showings. The home inspection is a critical step in which a professional inspector evaluates the property’s condition to identify potential problems. Any issues affecting the property’s price can be negotiated with the owner under certain situations. The closing process involves signing the final paperwork and transferring ownership of the property.

2. Home Affordability

First-time home buyers need to understand what they can afford in terms of monthly mortgage payments, your cash contribution for your purchase, and ongoing costs such as rates and insurance. This is where we come in and work with you to determine your affordability and what type of loan is best for your situation. The amount you can afford will depend on factors such as income, debt, and credit score.

3. Location, Location, Location!

Location is an important consideration for first-time home buyers, as it will affect the value of the property and the prospective tanent’s quality of life. As part of the home-buying process, you should research different neighbourhoods and consider factors such as crime rates, proximity to schools & hospitals, shopping centers, and transportation.

4. Property type and features

First-time home buyers need to understand the different types of properties available, including single-family homes, duplexes, townhouses, and apartments. Each property type has its pros and cons, and you, as the buyer, should consider the lifestyle you desire and your personal needs. If you are not planning to buy the property as an investment, then these factors are less important.

Home features are another important consideration for first-time home buyers. They should consider factors such as the square meterage, number of bedrooms and bathrooms, type of heating and cooling system, and age of the property. Determining what features are important to you and your priorities is essential.

5. Home ownership costs

Owning a home involves ongoing costs beyond the monthly mortgage payment. First-time home buyers must understand these costs, including property taxes, insurance, and maintenance fees. They should factor these costs into their budget when determining what they can afford. This is another aspect we can provide some advice on to ensure you are aware of your financial responsibilities as a property owner.

6. Home buying programs

There are various home-buying programs available to first-time home buyers, including minimum deposit assistance programs and first-time home buyer stand duty concessions These programs can help reduce the costs associated with buying a home and make it more affordable for the buyer.

7. Building and pest inspection

A home inspection is an essential step in the home-buying process that can help identify any potential problems with the property. First-time home buyers should understand what a home inspection entails and why it is crucial. They should work with a professional inspector to evaluate the property’s condition and identify any issues that need to be addressed. Significant issues may be a factor that can help you negotiate the price down for the property you want to purchase.

8. Putting an offer down

Negotiating with the seller is an important step in the home-buying process. First-time home buyers need to understand how to negotiate effectively to get the best possible price for the property. This is another aspect we can help with by assisting with developing a negotiation strategy that meets your needs and goals.

Be prepared to buy your first home

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Frequently asked questions

The amount you can borrow and spend on a home will depend on your personal financial situation, including your income, expenses, debts, and savings. It's a good idea to start by calculating your debt-to-income ratio and taking into account any other monthly expenses you have, such as utilities and transportation. You can then use online calculators or consult with our specialists to get an idea of what you can afford.

The best type of home for your needs will depend on your personal circumstances, such as your family size, lifestyle, and budget. Consider factors such as location, proximity to schools and amenities, and the size of the home when making your decision. It's also a good idea to consider the long-term value of the property and its potential for appreciation.

In Australia, the minimum required down payment for a home loan is typically 5% of the purchase price, although some lenders may require more. The amount you need for a down payment will depend on the price of the home you're interested in buying and the amount you can afford to put down. Keep in mind that a larger down payment can lower your monthly mortgage payment and may also help you avoid paying for private mortgage insurance (PMI).

The home buying process in Australia typically involves several steps, including:

Getting pre-approved for a mortgage
Researching and choosing a home
Making an offer on the home
Having the home inspected
Obtaining home insurance
Closing on the sale and transferring ownership

To get pre-approved for a mortgage in Australia, you'll need to provide information about your income, expenses, debts, and assets to a lender. The lender will then review your information and determine how much they're willing to lend you. This can give you an idea of how much you can afford to purchase a home and can make the home-buying process easier and more streamlined. Keep in mind that pre-approval is not a guarantee of financing and that you'll need to provide additional documentation and information later in the process.