JRD Finance Solutions | Are you a First Home Buyer? We can help you buy!

Getting on the property ladder.

Are you sick and tired of spending money on a home and seeing your landlord benefit? Buying a home should be top of your list. However, setting foot on the first rung of the property ladder is getting increasingly difficult for Australian’s – particularly in the Eastern States.

Looking to Buy a New Home?

Buying a new home can be stressful for anyone. There are so many questions, considerations and traps to avoid. We are here to help. We’ve seen the traps you’ll encounter, we know the market and have a panel of viable lenders who have competing products. We will help answer any questions, research your options and streamline the process for you to ensure that you get the best possible deal on your loan with minimal fuss.

For more information about the Home Loans and the First Home Owner Grant, continue reading…

Understanding your financials

Getting a firm grip on your finances is important when looking to buy your first home. Home owners need to factor in costs for mortgage, rates as well as any repairs. Knowing you can financially balance all of this as well as your other expenses will be key to your success.

With access to a variety of lenders, we are able to help customers borrow up to 99.9% of a property value including lenders mortgage insurance (LMI). Gathering a sizeable deposit is no longer the be all and end all of home ownership. Even with a limited deposit, you could still entertain dreams of owning your own home.

A key path we recommend taking is pre-approval. Pre-approval can put you in a strong position as a buyer. By gaining pre approval, you send a positive signal to the realtor and home seller, you also get a clear budget and are primed and ready to put in an offer.

You may be eligible to apply for the First Home Owner Grant, which helps Australians to get the funds they need to buy, build or negate the LMI on their first home.

For more information about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, we have included helpful links below.

If you would like more information on how we can help you, contact us today!

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a grant under the First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if your:

newly constructed home or a substantially renovated home has a total value less than $600,000
land for building and any dwelling you intend to build has a combined value less than $750,000.

To receive the grant when you buy your home:

you must be an individual, not a company or trust
you must be over 18
you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

have previously owned or co-owned a home in Australia or
have received an Australian first home owner grant.

You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

You or one of the other first home buyers who purchase with must move into the new home within 12 months after buying the property, and live there for at least six continuous months.

If you’re buying land and building a new home, you must move in within 12 months after construction is complete.

If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the New South Wales electoral roll.

What’s considered a ‘new home’?

If you’re buying an existing home, you can apply for the grant if:

this is the first time the house has been sold and
the house has never been lived in before you move in, including by the builder or a tenant.

Recently renovated homes

Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:

most or all of the house was removed or replaced
this is the first time the home has been sold after those renovations
it hasn’t been lived in since being renovated, including by the builder or a tenant.

How We Can Help

There are many questions and considerations involved in the lending process for buying your first home. How much will we need? How much should I offer? How do I put in an offer? What paperwork will I need to supply? If you don’t know the answer to even one of those questions, our help could make a difference for you.

At JRD Finance Solutions, we research all your home loan options for you, and with access to a pool of varied lenders, we can also negotiate with the lender on your behalf, making sure you get a mortgage that matches your income, lifestyle and financial goals both now and for the future.