Simplifying the journey to homeownership.
Navigating the home buying experience can be daunting for first-timers. Which is why many Australians partner with a mortgage broker to help ease and streamline the home loan application process.
With access to 30+ lenders, over 12 years in the industry and recent recognition as Australia’s mortgage broker of the year, Coin Capital is one of the leading choices for first home owners looking to fund their biggest purchase yet.
“Ronil was amazing in guiding my wife and I through the recent purchase of our first home. He was very patient and knowledgeable throughout the process.
“I highly recommended his services to anyone looking to purchase property.
“Thanks Ronil! ”
Our lending solutions for first home buyers.
- Home Loans. Make your dream home a reality by first finding your dream loan.
- Investment Property Loans. Get the best funding options for your investment property. .
- Green Finance. Energy efficient homeowners deserve cost efficient loans. Get yours today.
The road to your first home.
- Tailored home loan solutions
- Our goal is to secure a mortgage that fits your budget and lifestyle—not just today, but well into the future.
- Mortgage strategies
- We create a tailored strategy that aligns with your long-term financial goals.
- Budgeting techniques
- We share a range of practical budgeting techniques to ease the burden of homeownership costs.
- Ongoing education and guidance
- We’re committed to educating you on all aspects of the home loan and property buying process.
The road to your first home.
- Assess your financial position
- Review your financial health and talk to a mortgage broker about your borrowing power.
- Apply for a First Home Owner Grant (FHOG)
- Each state and territory has their own unique grant to help first home owners with their first major purchase. Review the eligibility criteria of your state’s FHOG and begin your application.
- Get home loan pre-approval
- A pre-approval shows the seller’s agent that you’re a serious buyer with the financial backing to prove it. Secure pre-approval from your chosen lender, either directly from the bank or by using a mortgage broker who understands your unique financial position and future goals.
- Research the market and develop your strategy
- In today’s competitive market, knowing a property’s true value is crucial. But just as important is understanding how you can turn your dream home into a reality. So, research the market and develop a plan on how to get into it.
- View your chosen properties
- Armed with all the right property information—as well as your own strict buying criteria—step through the front door of your potential first home.
- Make an offer
- When the property checks all of your boxes, it’s time to negotiate with the seller’s agent and make an offer.
- Formally apply for your home loan
- With the purchase contract signed and accepted by both parties, your next step is to apply for your ideal home loan.
- Settlement
- Congratulations—you’re a homeowner!
Unlock homeownership sooner with the First Home Guarantee (FHBG).
Thanks to the Australian Government, the First Home Guarantee (FHBG) initiative is specifically designed to help eligible first-time buyers step into the property market. With the FHBG, you can secure your new home with as little as 5% deposit while avoiding Lenders Mortgage Insurance, thanks to a guarantee of up to 15% of your home loan by Housing Australia.
Do you really need a 20% deposit?
Having a 20% deposit (meaning your own contribution to your home purchase is at least 20% of the property value) is looked upon favourably by the banks and can streamline your journey to homeownership. But what if you don’t have 20% to put down on a home?
We have access to a range of lenders who will still consider a loan applicant with a smaller deposit, usually with the requirement of Lenders Mortgage Insurance (LMI).
Lenders Mortgage Insurance is a premium that protects the bank should a borrower be unable to repay their loan, and can cost around 1%-5% of your loan amount. It can be daunting to think about this as yet another upfront cost of homeownership. But many first home owners don’t realise that LMI can be paid monthly, greatly assisting them in acquiring a home when their cash flow is strong.
"How much can I borrow"?
Lending institutions have their own unique way of calculating an applicant’s borrowing power. It can be understood as your monthly gross income less your monthly expenses (including the proposed loan repayments and the bank’s own buffer).
Their calculation will depend on a few factors:
- Your existing debts
- Your deposit
- The property value
- Whether you have dependants
- Your credit history
- Your employment situation
Want help calculating your own maximum borrowing amount? We’ve created a simple calculator that can help.
Step into your first home with Guarantor Support.
A guarantor can help first home buyers secure a mortgage by using their own property as security. This means you can potentially borrow more money without the need for a large deposit or paying LMI.
Our expert team at Coin Capital is ready to guide you through the guarantor process, ensuring you understand every aspect and benefit from this powerful financial tool.
Have questions? You’re not alone.
From how to structure your first home loan to which bank will best support your financial needs, we’ve answered the most common queries from our first home buyers. Can’t find the answer you’re looking for? Then book your first obligation-free meeting with us today.