First Home Owners

FIRST HOME BUYERS/OWNERS

At AAA Mortgage Services we understand that the purchase of your first home is a big decision and one that is not taken lightly. We also understand you may experience feelings of confusion as to which lender/product offers the best solution for your requirements, intimidation in the face of questioning, providing data and arranging appointments, and apprehension about making the correct decision/choice.

With AAA Mortgage Services working on your behalf we can remove or minimize these negatives, and provide you with a professional service, backed by our extensive list of lenders and drawing on our experience in the industry saving you both time and money.

We get a great deal of satisfaction assisting all our clients, but particularly First Home Buyers with the purchase of their first home.

As First Home Buyers we understand you expect information and guidance on the following:-

Government Incentives

As first home buyers you want to make sure you receive all the applicable discounts/concessions and incentives you are eligible for such as F.H.O.G. (First Home Owners Grant), P.P.R. (Principal Place Of Residence) stamp duty concession and First Home Buyers stamp duty concession.

We assist our clients with completion of all the associated paper work that is required for the First Home Owners Grant and we lodge the FHOG application to the lender for you.

Full Cost Breakdown

We understand clients do not like surprises such as a fee that was not disclosed.  Our loan software system gives a full list of all Government Fees and charges from state to state and any applicable Bank fees.

Clear Explanations without the “Jargon”

The mortgage industry uses a lot of jargon but we understand this means nothing to clients, particularly first time buyers. We are very mindful of this so we take extra time in explaining matters without the jargon. We are here to “hold your hand” throughout the process from application right through to settlement.

Deposit Requirements

For first home buyers raising the required deposit is a very important factor in the strength of a loan application.  We will work through how much deposit is required based on your purchase price and explain the importance of “Genuine Savings” which is particularly important in the eyes of the Mortgage Insurer when you borrow greater than 80% of the value of the property.

Should first home buyers not have the required deposit for whatever reason they may want to explore the option of a Parental Guarantee.  Phone us on 03 9752 8488 for further information and explanation of how this works.

Mortgage Insurance

What is Mortgage Insurance? When does it apply? Who does it protect? How much does it cost?  We will go through and explain all this to you.

Construction

If you are considering purchase of vacant land and building on that land we have extensive experience with construction lending.

Conveyancing

When you purchase a property you will need the services of either a conveyancer or solicitor to attend to legal matters and arrange settlement of the property for you.  If you are seeking a recommendation of a professional conveyancer we have contacts who, like us, have many years experience in their industry. We see it as part of our role to liaise closely with your legal representative to ensure a smooth process with no settlement issues.

Check out our Home Loan Calculators on this web site and do some calculations for yourself.

Please call Darren or Damien on 03 9752 8488 for a personal assessment.