Buying your first home?
Know what you’re up against, and how to navigate your path to home-ownership with our handy guide to buying your first home.
Know the home-buying process
Often, first home buyers will hear about the first home buyer grant first, before they’ve done any other research into what it takes to buy a home. While the prospect of securing financial assistance to get the keys to your first place may seem attractive, accessing it will form one part of what can sometimes be a complicated process.
Once you’re aware of what it takes to buy a home, you’ll be able to budget and set your expectations accordingly.
Do your homework
The first homeowner grant is financial assistance in the form of a one-off payment from your state or territory government, that can be accessed to help with the purchase of your first home.
The first homeowner grant scheme was introduced to offset the effect of the GST on home-ownership, and the amount you may be able to access differs from state to state, so making yourself aware of just how much you may be able to access will help you adjust your deposit savings budget.
Gather your details
Depending on the location, price and type of property you plan to buy as your first home, you may be able to access differing amounts.
Question one: In which Australian state or territory do you intend to buy your first home?
Question two: What kind of home will you be purchasing? New? Established? Are you building a new home?
Question 3: What is the value of the property you’ll be purchasing?
Assess your eligibility
Once you’ve got this info, complete your details below and we can help assess whether you may be eligible for the first home buyer grant in your state.
Compare Home Loans
Compare 5 products
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Ultimate Home Loan
Our ultimate in loans. Our Ultimate Home Loan offers the flexibility of fixed or variable rate, or a mixture of both. What's more, it features a linked offset account and unlimited free online redraws.
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Great Rate Home Loan
Our simple, low rate loan that’s perfect if you’re after great value and no ongoing fees. Our Great Rate loan lives up to its name and offers flexible repayment and loan term options.
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Line of Credit
Our Line of Credit helps you make the most of the equity in your home. Great if you’re thinking about renovating, investing, or just want more flexibility.
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Ultimate Investment Home Loan
Our Ultimate Investment loan combines great value with a range of extra products designed to make investing easier.
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Great Rate Investment Home Loan
With low-interest rates and no monthly or annual fees, we've made investment simple.
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Interest Rate
1.69
%
p.a.
Comparison rate
3.72
%^
p.a.
~1 year fixed, owner occupied, principal and interest
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Interest rate
1.69
%
p.a.
Comparison rate
3.49
%^
p.a.
~1 year fixed, owner occupied, principal and interest
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Interest rate
4.00
%
p.a.
Ultimate Line of Credit home loan base rate
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Interest rate
2.19
%
p.a.
Comparison rate
4.10
%^
p.a.
~1 year fixed, principal and interest
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Interest rate
2.69
%
p.a.
Comparison rate
3.51
%^
p.a.
~5 year fixed, principal and interest
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Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria. Greater Bank Limited ABN 88 087 651 956. AFSL/Australian credit licence No. 237476.
~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
#Discounted rates include a discount on Home Loans of $150,000 or over and Home Loans with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.
+Additional costs may apply if your loan has a fixed rate.
All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.