We'll help you understand the loan types, grants and incentives to get you into your First Home

Buying your first home is an exciting milestone, but it can also be a complex process. At Objective Wealth, we specialise in helping first home buyers across Canberra and Australia access Home Loan options from banks and lenders across Australia. Our goal is to make your journey as smooth as possible, guiding you through the property market and simplifying the application process. Whether you're curious about interest rate options or need help understanding first home owner grants (FHOG), our expert team is here to assist every step of the way.

When buying your first home, understanding your borrowing capacity is crucial. This involves assessing your financial situation, credit history, and loan amount you can secure. Our team can help you get pre-approved, providing you with clarity on the loan to value ratio (LVR) you can achieve. We also work closely with banks and lenders nationwide to offer interest rate discounts that match your financial profile. Understanding the difference between a variable interest rate and a fixed interest rate is essential, and we’re here to assist in selecting the best option for your needs. Our access to banks and lenders nationwide ensures you have a wide range of choices.

First home buyers should be aware of available incentives like first home owner grants (FHOG) and possible waivers on lenders mortgage insurance (LMI). These benefits can significantly impact your overall cost when buying a home. Checking your eligibility for these incentives can ease the financial burden of purchasing properties in the competitive property market. Additionally, understanding the implications of stamp duty can help in planning your finances effectively. We guide you through each step, ensuring you are informed about all potential savings.

Applying for a home loan can seem complicated, but with Objective Wealth, you'll experience a streamlined application process. We assist in gathering necessary documents such as bank statements and reviewing your credit history to present a strong application. We also discuss how features like an offset account can work for you, potentially reducing the interest paid over the life of your loan. For those considering their first investment property, we offer insights into investment loan options and the investment loan application process.

In summary, our mission at Objective Wealth is to support first home buyers in Canberra and throughout Australia by providing access to Home Loan options from banks and lenders across Australia. Our expert guidance on interest rates, eligibility for grants, and understanding of the broader property market sets you on the path to successfully buying your first home. We invite you to contact us today to start your journey toward homeownership with confidence and ease.

How to Prepare for Your First Property Purchase

Step 1: Initial Call or Meeting

Your property journey begins with an initial conversation with your mortgage broker. This is where you’ll outline your goals and provide a snapshot of your current financial situation.

Step 2: Complete a Fact Find

You’ll complete a Fact Find—either online or on paper—which gathers all the essential information your broker needs to assess your position and identify lenders that align with your needs and objectives.

Step 3: Review Meeting

You’ll meet with your broker to explore lending options and finalise the structure of your application.

Keep in mind: the lender with the lowest rate isn’t always the best fit. Lending policies vary significantly, and your broker will guide you through key considerations such as:

• Fixed vs variable interest rates
• Government programs
• Loan structures
• Fully assessed pre-approvals
• Lenders Mortgage Insurance (LMI)
• Offset accounts
• Loan-to-Value Ratio (LVR)

Step 4: Credit Proposal

Your broker will prepare a Credit Proposal outlining your loan structure. You’ll review and sign this document, confirming the details and raising any questions or corrections before submission.

Step 5: Application Preparation

Once the Credit Proposal is signed, your broker will begin preparing your application for submission. This typically involves gathering supporting documents and completing lender-specific forms.

Step 6: Submit Application

Your application is submitted to the lender. It’s common for lenders to request additional documentation or clarification—your broker will guide you through this process.

Step 7: Pre-Approval

Once approved, your fully assessed pre-approval is typically valid for 90 days and gives you confidence to bid at auction.

Note: Not all pre-approvals are fully assessed. Some are system-generated and only formally reviewed after a property is purchased—potentially leaving you exposed if the loan is declined.

During this period, avoid applying for new loans or credit cards, as this could trigger a reassessment.

Step 8: Purchase a Property

Your broker will support you through the purchasing process, offering strategies to help you secure the property at the best possible price.

Step 9: Finalise the Purchase

Firstly, we will review the suitability of the loan given you will probably have bought for a different price than the pre-approval allowed you to spend. Being Mortgage brokers with a wide range of lenders, we might be able to find you an even better deal once you finalise the exact property.

You’ll confirm the loan structure, amount, and your cash contribution where we will ensure you are getting the most value out of any LMI (if you are paying any). Your broker will convert the pre-approval into a formal purchase application, and the bank will issue loan documents for your review and signature.

Step 10: Settlement

Your solicitor will coordinate the settlement date and confirm final figures. Any required funds are typically transferred into a shortfall account—usually set up with your incoming lender during the loan process.

Step 11: Ongoing Support

Even after settlement, your mortgage broker remains a valuable resource. They can assist with:

• Managing repayments
• Refinancing opportunities
• Accessing equity for future purchases

Your broker’s support doesn’t end at settlement—they’re with you for the long haul.