1^st Homebuyer

Buying your first home?

Buying your first home is among the most important financial decisions you’ll ever make. Not only is it important you find the right property, it is absolutely imperative you find the best loan system to suit your ongoing needs.

Our qualified Loan Planners will help guide you through the steps to ensure you make the right decisions. We will invest the time to help you understand the implications of different rates, fees and conditions associated with your loan. We figure you should know these things up-front, so you fully understand how to use your home loan to best advantage.

What to do now?

Have you found your first home, and would like to apply for a loan?

We can help you find the most appropriate loan to suit your needs.

Would you like to establish your budget before you start looking for a home?

We can assist you in calculating your borrowing power and arranging the right loan to suit your needs.

Please remember that having a loan best suited to your needs is just as important as choosing your dream house. You could save thousands in interest, fees and charges with the right loan.

Whatever your situation is, please contact us today at Cascade Home Loans, and a qualified professional from our friendly team can establish how we can help you!

Why choose Cascade Home Loans?

Convenient: We can be contacted anytime to meet you. Our aim is to make home finance as simple and achievable as possible.

Free Service: Unlike some Mortgage institutions, our service is free to all customers. We arrange a loan for you that is suited to your needs, and you won’t pay a cent for our service.

Credibility and Trust: Cascade Home Loans prides itself in being more than just another name in the marketplace. We have established ourselves as a most trusted firm and have built a reputation for delivering superior customer service and fully-tailored mortgage solutions.

Full Service Mortgage Managers: Obtaining a home loan is certainly about getting the right deal and we work always to achieve the best outcome for every client. Our full service structure means we arrange the loan for you and provide total loan management services for any issue arising throughout the entire life of the loan.

Priority one – Being an informed buyer

In today’s marketplace, with so many loan products and choices, it is easy for anyone to feel overwhelmed by the vast array of decisions to be made in order to get it right. For first homebuyers, this can lead to confusion and may ultimately result in either getting exploited or even losing the opportunity to buy your first home.

We do things differently at Cascade Home Loans - Contact us and we will help you get clear about 20 questions we believe you will want to know the answers to:

How do I know if I qualify for the First Home Owner’s Grant?
What is the First Home Owner’s Bonus and how much is it?
What does all the terminology mean?
How can I find out what my credit rating is?
Is buying a new home the same as an established one?
If buying a new home, does it have a statutory warranty and builder’s warranty?
When should I get a building inspection?
What is Strata Title?
Can I use my rent payments to show my ability to afford our home loan?
What is a section 32?
Is my deposit fully refundable if I change my mind about buying this home?
How do I best deal with the Vendor’s (seller’s) agent?
How much can I really borrow?
What is Pre-Approval?
How much deposit do I need?
What is Lenders Mortgage Insurance (LMI) and do I have to pay it?
What additional or hidden costs are involved?
How much of my income can I afford to invest in my first home?
What if I can’t buy now?
What is the iControl home loan management system?

Of course, these may create even more questions. Call us on 1300 556 840 and we will be pleased to help.

CHECKLIST FOR BUYING YOUR FIRST HOME

Become an informed consumer and familiarise yourself with the mortgage process. Talk to people, read up on mortgages and buying your first home, surf the internet, read the property and financial sections of the newspapers.
Set your financial goals and budget
Be prepared to reduce your credit & store cards and pay off your smaller debts.
Determine your housing needs and wants.
Find out how much you can borrow in accordance with how much you have saved and can comfortably pay off each month, allowing for additional fees, legal expenses and government duties.
Research the areas you want to buy in and the price of property in the areas.
Understand the types of home loans available in the market and compare some of the rates offered by the different types of lenders and mortgage providers.
Examine what grants and assistance you may be entitled to.
Start gathering documentation that you’ll need to provide to obtain a loan.
Prepare a list of questions to ask your mortgage provider.
Choose a lender or mortgage provider you feel comfortable working with, and ensure they are a Member of the Mortgage Industry Association of Australia.
Get pre- or conditional approval for a loan from your mortgage provider.
Start house hunting, keeping a record of the properties you’ve seen and their prices, also the prices of similar dwellings in the area.
Appoint a solicitor or conveyancer to handle the legalities when you purchase.
Exchange Contracts which determines the terms and conditions of the sale and arrange for the deposit to be paid.
Instruct your legal representative to make necessary enquiries, searches and prepare documents for settlement.
Return the signed Letter of Offer and Mortgage Documents to the lender.
Insure the property from the day of settlement.
Carry out a final inspection of the property on the day of settlement.
Pay applicable government duties.
Collect the keys from the estate agent.
Pop the champagne to celebrate your property purchase.

If buying by Private Treaty

Make an offer to the real estate agent and provide a holding deposit.
Obtain the Contract of Sale and provide to your mortgage provider and legal representative.
Submit formal application to your mortgage provider to obtain unconditional approval on the loan.
Arrange a building inspection of the property to insure its soundness along with a pest and if necessary strata inspection.

If buying at Auction

Arrange a certified building inspection to gauge the property’s soundness along with a pest and if necessary, strata inspection.
Obtain the Contract of Sale and provide to your mortgage provider and legal representative.
Submit formal application to your mortgage provider for a loan on the property.
Bid on the property at auction and if successful, pay the deposit

Disclaimer: This document is for information purposes only and must not be relied upon as a substitute for professional services or legal advice.

1st Homebuyer