Finance Options

Here at First Home Owners Centre, our in-house finance department are experts in finance for first home buyers. If you have questions, we have all the answers.

The First Home Owners’ Grant explained

To assist first time buyers like you secure your first home, the West Australian Government will pay $10,000 towards the purchase price. This is not a loan. It’s yours! To qualify for the First Home Owner’s Grant, you must not have previously owned a residential property, you must be over 18, you must be a permanent Australian resident and you must live in the new home for at six months within the first 12 months from handover. And the Grant is payable on house and land packages valued up to $750,000.

You might not need to pay Stamp Duty

As a first home buyer, the State Government will waive Stamp Duty on the land component when the land purchase price does not exceed $300,000.00.

Keystart is perfect for those struggling to save a deposit

As with the Grant, Keystart finance is a government initiative to assist people just like you get into your first home. If you qualify for Keystart, you’ll only need a minimal deposit and no genuine savings. Those eligible for Keystart do not need to pay Lenders Mortgage Insurance either. And if you have a default, then don’t worry, we’ll see if we can take care of that as well.

If you have some savings, low deposit finance might be for you

If you have a clear credit history and evidence of good savings, a low deposit home loan from FHOC might be a smart option for you. Low deposit finance is where you use your savings as a deposit for your new home – reducing the amount you are borrowing. Remember, by combining the First Home Owner’s Grant with your savings, you could have the deposit you need.

Guarantor home loans are a very popular option

If your parents own their own property, we can show you how to use the equity in their property to help you secure yours. Basically, your parents will be offering their property as security for your first home mortgage.

Got a question about finance?
Call us now on 6144 5588 and we’ll set you straight.