Frist Home Buyers Guide

YOUR FIRST HOME BUYERS GUIDE

Crafted by your local Mortgage Brokers

1. Who is My Lending Specialist?
2. Thinking About Buying?
3. NSW Government Schemes
4. Ready To Buy
5. Buying Your Property
6. Lets Talk

WHO IS MY LENDING SPECIALIST?

At My Lending Specialist, we are more than just mortgage brokers — we are your local trusted partners in achieving homeownership.

With a deep understanding of the lending market and a passion for helping first-home buyers, we provide tailored finance solutions to suit your unique needs.

Our team is dedicated to making the loan process simple, stress free, and transparent, ensuring you feel confident every step of the way.

Whether you’re purchasing your first home, refinancing, or investing, we take the time to find the right loan for you — so you can focus on what matters most, turning your dream home into a reality!

WHY USE A MORTGAGE BROKER?

• Access to More Loan Options – Unlike banks that only offer their own products, brokers have access to a wide range of lenders and loan products, ensuring you get the best deal.
• Save Time & Stress – Instead of comparing countless loan options yourself, your broker does the hard work, finding and securing the right loan for your situation.
• Expert Advice & Guidance – A broker explains complex loan terms, helps you understand repayment options, and ensures you’re making informed decisions.
• Better Interest Rates & Terms – Brokers negotiate on your behalf to secure lower interest rates and better loan features, potentially saving you thousands over the life of your loan.
• Help with the Application Process – From pre-approval to settlement, a broker handles the paperwork and ensures everything runs smoothly.
• Support Beyond Settlement – Your mortgage broker remains a point of contact for future refinancing, loan reviews, or additional property purchases.

At My Lending Specialist, we simplify the home loan process, ensuring you find the best mortgage solution without the hassle.

THINKING ABOUT BUYING?

Buying Your First Home? Let’s Make It Happen!

Buying your first home is an exciting milestone, but it can also feel overwhelming. That’s why we’ve created this comprehensive guide—to simplify the process and help you take confident steps toward homeownership.

What to Consider Before You Buy

• Your Budget & Borrowing Power
• Deposit & Upfront Costs – Learn about savings requirements, lenders mortgage insurance (LMI), and other costs like stamp duty.
• Government Grants & Incentives – Discover if you qualify for First Home Owner Grants, stamp duty concessions, or deposit schemes.
• The Market & Loan Types
• Pre-Approval & Next Steps

NSW GOVERNMENT SCHEMES

First-home buyers in New South Wales (NSW) have access to several government programs to make purchasing a home more achievable.
Below we have included a brief overview:

First Home Owner Grant (FHOG)

• One-off, tax-free grant of $10,000 for eligible first home buyers.
• Applies to new homes valued up to $600,000 or house and land packages up to $750,000.

First Home Buyers Assistance Scheme (FHBAS)

• Full stamp duty exemption for homes under$800,000 and vacant land under $350,000.
• Concessional stamp duty rates for homes up to $1,000,000 and land up to $450,000.

Home Guarantee Scheme (HGS)

• Allows first-home buyers to purchase with a deposit as low as 5%. This is for homes under $750k.
• Government guarantees up to 15% of the property value, eliminating the need for Lenders Mortgage Insurance (LMI).
• Includes targeted programs for regional buyers and single parents.

These initiatives aim to reduce costs and financial barriers, making homeownership more accessible for first-home buyers in NSW.

READY TO BUY

You’ve done the groundwork, and now it’s time to take the next step toward homeownership. Being prepared at this stage will help you buy with confidence and avoid unexpected surprises.

What to Do Before Buying:

Get Pre-Approval – Work with your broker to confirm your borrowing power and to become a serious buyer in the market.

Research the Market – Compare recent sales, check suburb trends, and future developments. Talking to your local agents is valuable.

Know the Buying Process – Understand the difference between private sales and auctions and what each involves.

Inspect the Property – A building and pest inspection can reveal potential issues.

Review Contracts – Have a solicitor or conveyancer review the contract of sale before signing.

Budget for Additional Costs – Stamp duty, legal fees, loan fees, and insurance should all be factored in.

BUYING YOUR PROPERTY

Making an Offer
If you’re buying through auction, you’ll need to register as a bidder and have your deposit ready. If you place the winning bid, contracts are signed, and a deposit is paid on the same day.

For a private sale, you’ll negotiate the price with the seller, usually through the real estate agent. Once an agreement is reached, contracts are signed, and a deposit is paid, typically within a few days.

Finalising Your Finances
After your offer is accepted, the next step is securing final loan approval. Your lender will complete a property valuation, and we’ll guide you through the final paperwork to ensure everything is in place before settlement.

Getting Ready for Settlement
The period between signing the contract and settlement is your chance to finalise all details. During this time, you should:

• Confirm settlement arrangements with your solicitor.
• Organise a final property inspection to ensure everything is as agreed.
• Set up home insurance and utility connections before moving in.

Settlement Day
On settlement day, legal and financial representative complete the transfer of ownership, and once everything is finalised, you’ll receive the keys to your new home. You’re Officially a Homeowner!

NEED EXPERT GUIDANCE?
LET’S TALK!

At My Lending Specialist, our team of local experts is dedicated to making the home-buying process simple, stress-free, and tailored to you. Whether you need help navigating government grants, loan pre-approvals, or understanding your borrowing power, we’ll provide the support and advice you need to make informed decisions.

• Free Service – Did you know there is no cost to use a mortgage broker? We get paid directly by the lender!
• Personalised Loan Advice – We take the time to understand your situation and match you with the right lender.
• Access to over 50 lenders – We work with multiple lenders to find the best rates and terms for you.
• Guidance on Government Grants & Schemes – Maximise your savings and take advantage of available incentives.
• Stress-Free Application Process – We handle the paperwork, so you can focus on finding your dream home.

DANYELLE FRANK & DAMIEN AGOSTINI

We’d love to hear from you! Whether you have questions or need
assistance, we’re here to help.

If you would like a printed version of this guide or would like to share this with someone looking to get into the property market, please click the link below for a pdf version.

    First Home Buyers Guide