Buying your First Home

Defence Home Loans helps Australian Defence Force (ADF) Members who are First Home Buyers access a Home Loan plus understand any Grants and Discounts that they are eligible for

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Helping First Home Buyers get into their home sooner

Buying your first home with a Home Loan ushers in a new chapter of independence, stability, and personal accomplishment. It's a momentous journey, one that requires guidance, trust, and expertise, particularly for Australian Defence Force (ADF) members who serve our country with distinction. Understanding the unique circumstances and needs of ADF members, Defence Loans emerges as the trusted partner to navigate the complex pathways of securing a Home Loan. Our dedication to serving those who protect us is unwavering, making Defence Loans the preferred choice for ADF first home buyers aiming to plant roots with confidence and ease.

For most, buying your first home with a Home Loan signifies one of the most significant financial decisions of their lives. It's an investment in the future, a foundation for family life, and a step towards financial security. Defence Loans is acutely aware of the importance of this milestone. We pride ourselves on our personalised approach, ensuring our clients are equipped with the knowledge, options, and support to make informed decisions. Our range of Home Loan solutions caters explicitly to the diverse needs of ADF members and first home buyers, offering competitive rates, flexible terms, and benefits uniquely tailored to the service life and career trajectory of defence personnel.

Choosing Defence Loans when buying your first home with a Home Loan means entrusting your dreams to a team that respects the commitment you've made to our nation. We are committed to providing a seamless and supportive loan process, one that honours your service by prioritising your home ownership goals. Our expertise in the specific requirements and benefits available to ADF members and first home buyers ensures that you're not just securing a loan; you're building a partnership with a lender that understands the value of your service and is dedicated to recognising it by helping you achieve your home ownership aspirations.

In stepping forward with Defence Loans, ADF members and first home buyers find more than a provider; they discover an ally in their journey to home ownership.

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We have access to thousands of products from banks right across Australia. Chat to an expert and see if you qualify.

Interest rates as low as:

5.79%

Headline Rate

5.82%

Comparison Rate

Grants & Initiatives to help First Home Buyers

When it comes to purchasing your first home as a member of the Australian Defence Force (ADF), there are several schemes tailored to assist you. Let's explore three key ones: the First Home Owner Grant (FHOG), the Home Guarantee Scheme (HGS), and First Home Buyer Stamp Duty Exemptions and Concessions.

First Home Owner Grant (FHOG):

The First Home Owner Grant (FHOG) serves as support from the government for first-time home buyers. Essentially, if you meet the criteria, you could receive financial assistance towards your new home. Sounds promising, doesn't it?

Here's the breakdown: Each state or territory in Australia operates its own FHOG scheme, so the specifics may vary based on your location. However, generally, to qualify, you must be an Australian citizen or permanent resident, and neither you nor your spouse should have previously owned property in Australia. There's typically a limit on the property value you're purchasing, and you usually must reside in the home for a certain duration.

Home Guarantee Scheme (HGS):

The Home Guarantee Scheme (HGS) offers additional support for first-time home buyers, particularly those with limited savings for a deposit. It acts as a safety net, facilitating home loans with smaller deposits than usual.

A component of the HGS is the First Home Loan Deposit Scheme (FHLDS), enabling eligible first-time buyers to secure a home loan with a reduced deposit and without needing to pay lenders mortgage insurance (LMI).

First Home Buyer Stamp Duty Exemptions and Concessions:

Stamp duty is a tax typically applicable when purchasing property. However, as a first-time home buyer, you may qualify for exemptions or concessions, potentially reducing or eliminating your stamp duty obligation. This can result in significant savings when purchasing your new home.

The criteria for stamp duty exemptions and concessions vary among states, but generally, certain conditions must be met. For instance, you may need to be purchasing a property for your own residence, and there could be a limit on the property's value.

In conclusion, these three schemes play vital roles in assisting ADF members on their path to home ownership in Australia. Given our experience aiding numerous First Home Buyers, feel free to reach out today, and we can provide guidance through the process.

The Home Loan Process for ADF members buying their first home

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  1. Initial Consult

Have a chat with one of our qualified Mortgage Brokers who will understand your situation and talk you through the next steps plus any hints and tips to get into your first home sooner.

  1. First Home Buyer Fact Find

We'll understand a bit more about your situation and discuss the Grants and Incentives you might be able to access including FHOG and HGS. We'll help you to access a variety of Home Loan options.

  1. Home Loan Pre-Approval

Once you're approved, you can start bidding or making offers on properties you want to purchase.

  1. Settlement

You settle on your first home, your Home Loan draws-down and you're good to go!

See why others choose Defence Home Loans to help with their first Home Loan:

rR

ram Reddy

Nick Sullivan, was very informative . He was excellent in co-ordinating and organising my home loan.

RS

Robert Stuart

Could not recommend highly enough. I am a first-time home buyer and had no idea about the steps involved. We only had a 1 week turn around and Nick was able to help make that possible. He was always available and happy to answer my many ...

AA

Alexandra Alder

Carl Elsass has worked tirelessly to rapidly get us a mortgage that suits our needs perfectly, with an amazing interest rate, from a fantastic neo bank that we would never have heard of without his help. He has been an absolute pleasure to ...

Common Questions:

What are the Benefits of Refinancing a Home Loan or Investment Loan?

Refinancing your Home Loan or Investment Loan can offer numerous advantages for Australian Defence Force (ADF) Members. One of the primary benefits is the potential to secure a lower interest rate, which can significantly reduce monthly loan repayments. By obtaining a lower rate, ADF Members can effectively manage their finances more efficiently, freeing up funds for other essential expenses. Moreover, refinancing allows for the adjustment of loan terms to better suit individual financial circumstances. This could involve extending or shortening the loan term, or changing the repayment frequency to align with income cycles or budgetary preferences. Such flexibility empowers ADF Members to tailor their loans to their specific needs and goals. Additionally, refinancing can provide access to equity, enabling ADF Members to release funds for various purposes such as home renovations, purchasing a vehicle, planning a holiday, or investing in additional properties. Consolidating multiple loans into a single facility simplifies financial management and can potentially reduce overall interest costs. Lastly, transitioning from a variable to a fixed-rate home loan through refinancing offers the advantage of locking in a stable interest rate and repayment term, providing peace of mind amidst fluctuating market conditions. Overall, refinancing presents ADF Members with valuable opportunities to optimise their loan arrangements and enhance their financial well-being.

What is Refinancing?

Refinancing, also known as loan refinancing, is the process of acquiring a new mortgage to replace an existing one, whether it's for a home loan or an investment loan. This can involve switching to a different lender or renegotiating with the current one. There are various reasons for refinancing, including securing a lower interest rate, reducing monthly repayments, adjusting the loan terms, or consolidating debts. Additionally, individuals may opt for refinancing to access funds for home renovations or to fix a portion of their loan. At Defence Loans, assisting Australian Defence Force (ADF) Members with refinancing their Home Loan or Investment Loan is a key focus of ours, ensuring they receive tailored support and guidance throughout the process.

Why should I use a Mortgage Broker?

Using a mortgage broker can simplify the mortgage journey, provide access to a broader range of options, offer expert guidance, and streamline the application process, ultimately saving time and potentially securing better loan terms. Mortgage brokers serve as intermediaries between borrowers and lenders, offering valuable expertise and assistance throughout the mortgage process. One primary advantage of using a mortgage broker is access to a wide range of loan products from various lenders. This diversity allows brokers to tailor solutions to individual needs and financial situations. Additionally, brokers often have established relationships with banks and lenders, which can lead to better terms and rates for borrowers thank sticking with their main bank. Another key benefit is the guidance provided by mortgage brokers. They help navigate the complex mortgage landscape, explaining the intricacies of different loan options and ensuring borrowers understand their obligations. This personalised support streamlines the application process, saving borrowers time and stress.

Are your mortgage brokers licensed and accredited?

All of our Mortgage Brokers are accredited and members of the Mortgage and Finance Association of Australia (MFAA). They are extremely professional and provide exceptional service across a range of lending options. In addition they have the essential qualifications and more to provide expert advice for any scenario you are in, whether it be refinancing your Home or Investment Loan, getting a Car Loan or a new Loan to purchase.

When Should You Refinance a Home Loan or Investment Loan?

There are a few things to consider when deciding if you should refinance your Home Loan or Investment Loan. First, you need to make sure that you can afford the new monthly payments. You also need to understand the costs associated with refinancing. We can help you with this, including to help you understand any cost of breaking your fixed term. There is no perfect time to refinance and depends on your needs. Often you will decide to refinance to move to a cheaper interest rate.

What are the Benefits of Refinancing a Home Loan or Investment Loan?

Refinancing your Home Loan or Investment Loan can offer numerous advantages for Australian Defence Force (ADF) Members. One of the primary benefits is the potential to secure a lower interest rate, which can significantly reduce monthly loan repayments. By obtaining a lower rate, ADF Members can effectively manage their finances more efficiently, freeing up funds for other essential expenses. Moreover, refinancing allows for the adjustment of loan terms to better suit individual financial circumstances. This could involve extending or shortening the loan term, or changing the repayment frequency to align with income cycles or budgetary preferences. Such flexibility empowers ADF Members to tailor their loans to their specific needs and goals. Additionally, refinancing can provide access to equity, enabling ADF Members to release funds for various purposes such as home renovations, purchasing a vehicle, planning a holiday, or investing in additional properties. Consolidating multiple loans into a single facility simplifies financial management and can potentially reduce overall interest costs. Lastly, transitioning from a variable to a fixed-rate home loan through refinancing offers the advantage of locking in a stable interest rate and repayment term, providing peace of mind amidst fluctuating market conditions. Overall, refinancing presents ADF Members with valuable opportunities to optimise their loan arrangements and enhance their financial well-being.

Can you help First Home Buyers?

We love helping First Home Buyers! Defence Home Loans helps Australian Defence Force (ADF) Members who are First Home Buyers access a Home Loan plus understand any Grants and Discounts that they are eligible for. For most, buying your first home with a Home Loan signifies one of the most significant financial decisions of their lives. It's an investment in the future, a foundation for family life, and a step towards financial security. Defence Loans is acutely aware of the importance of this milestone. We pride ourselves on our personalised approach, ensuring our clients are equipped with the knowledge, options, and support to make informed decisions. Our range of Home Loan solutions caters explicitly to the diverse needs of ADF members and first home buyers, offering competitive rates, flexible terms, and benefits uniquely tailored to the service life and career trajectory of defence personnel.

Can you help with Home Loans?

When it comes to securing a Home Loan, Australian Defence Force (ADF) members, face unique circumstances and challenges. Understanding these nuances, Defence Loans emerges as a beacon of support and guidance in the journey towards homeownership. Choosing Defence Loans to facilitate your Home Loan process is not merely a transaction; it's embracing a partnership that recognises and honours your service. We understand the significance of trust, especially when making such a substantial life investment. Our clients are at the heart of everything we do, and we go the extra mile to ensure your Home Loan journey is straightforward, transparent, and tailored to your unique situation.

What kind of interest rates can you offer?

We take look at a wide range of products available from Banks, Credit Unions & other lenders across the country. This means we can search thousands of products and make sure we're always recommending the best Home Loans for our clients.

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