Know your borrowing power
Before you start searching for your dream home, it’s worth understanding your borrowing power so you know what’s within reach.
Source your deposit
As a general guide, you’ll usually need at least a 5% deposit to get started.
If you have support from family, options like a Family Pledge may help reduce, or even remove, the amount you need upfront. You may also be eligible for government grants or support schemes, which can give your savings a helpful boost.
Calculate & get pre-approved
Use our borrowing power calculator to see how much you could borrow, then simply complete our form and speak with one of our expert lenders.
Find the house for you
With your borrowing power in mind, you can get out there and see what the market has to offer!
Be sure to do your research, identify suburbs that have properties in your price range, and look at a number of different houses to get a feel for the market.
Did you know?
With our Family Pledge Loan, you could be eligible to borrow up to 110% of the property value. A Family Pledge Loan is where you have a family member using equity in their own property as additional security on your mortgage.
Make an offer
When you find a home that matches your criteria, you can make an offer. But before you do, here are a few things to consider.
Contracts
Before making your offer, get a copy of the contract that you can supply to your solicitor or conveyancer.
Getting a professional to review the contract ensures you are fully aware of all risks and obligations before you make any legally binding decisions.
Online tools
It’s always a good idea to check recent sale prices for similar homes in the area using online tools, so you know what’s fair.
If the asking price feels too high, don’t be afraid to start a conversation and negotiate a better deal.
If you’re planning to buy at auction, speak with the listing agent ahead of time to understand exactly what you’ll need on the day, such as the deposit amount and settlement terms.
You shouldn’t bid at auction unless you’ve confirmed your borrowing capacity with a lender. Auctions are unconditional, so it’s important your finances have been fully reviewed before you raise your hand.
Finalise your loan and the sale
Once you have agreed upon a sale price, you can complete the home loan application process.
You should take the time to consider which loan is best for you and your financial situation.
Let our experts do the work
Our experienced lenders take care of the hard parts of the home loan process for you. From reviewing your finances to explaining your loan options, managing the paperwork, and working with valuers and conveyancers – they keep everything moving so you can feel confident and focus on planning your moving‑in day.
What next?
Before you sign and exchange contracts, you should also arrange to get a pest and building inspection.
Sign your contract
Once your loan is finalised, organise your compulsory home insurance, then you’re all ready to sign your contract. After this, the funds will be transferred and you can complete the sale.
Collect your keys and move in
The final step of the process is collecting your keys! Owning your first home is a huge milestone, so take a moment to celebrate.
If you’re ready to take the next step, start a conversation with one of our lending experts by leaving your details below.