Buying your first home is a structured journey. We guide you through four essential stages to make the process simple and stress-free:

1. Initial Assessment

   We review your financial position, including income, expenses, and liabilities, to determine your true borrowing capacity. This helps you set a clear and realistic property budget.

2. Loan Pre-Approval

   We compare loan options across a wide panel of lenders to secure a competitive pre-approval. This gives you confidence in your price range and strengthens your position when making an offer.

3. Property Selection & Contract

   Once you’ve found the right property, we finalise your loan application and guide you through contract requirements to ensure everything aligns before signing.

4. Settlement Process

   We work closely with your conveyancer and lender to ensure a smooth settlement, where funds are transferred and ownership is officially completed.

Making the Most of First Home Buyer Support (FHBG & FHOG)

Eligible first home buyers in Australia can access a range of government initiatives designed to reduce upfront costs and make home ownership more achievable. We help assess and guide you through these opportunities:

• First Home Guarantee (FHG): Allows eligible buyers to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).

• First Home Owner Grant (FHOG): A one-time financial grant for eligible buyers purchasing or building a new home, with amounts varying by state or territory.

• Stamp Duty Benefits: Many states offer reduced or waived stamp duty for first home buyers, depending on property value thresholds.

Why Choose Laxmi Home Loans?

We simplify the lending process for first home buyers by offering personalised support and clear guidance at every step.

• Wide Lender Access: We compare a large network of lenders to find competitive rates and suitable loan options tailored to your needs.

• Community Understanding: We have extensive experience supporting first home buyers from diverse backgrounds, including Nepali and South Asian communities.

• Clear Guidance: We break down complex loan structures into simple terms so you can make confident decisions.

We provide general information to help guide your decisions. As every situation is unique, speaking with our experienced team is the best way to get started.

Key Dos and Don’ts for First Home Buyers

To navigate the process effectively and minimise risks, keep the following in mind:

What You SHOULD Do:

• Check your eligibility for all available government schemes early to reduce your deposit burden.

• Seek advice from a mortgage broker and conveyancer before starting your property search.

• Maintain stable employment and avoid taking on new debts during the loan process.

• Confirm stamp duty savings available in your state to plan your upfront costs accurately.

• Build additional savings if there is a delay before settlement, especially for new builds.

What You SHOULD NOT Do:

• Do not rely fully on pre-approval, as lenders reassess your situation before final approval.

• Do not overlook the risk of valuation shortfalls, particularly for off-the-plan purchases.

• Do not sign contracts without fully understanding all terms and conditions.

• Do not change jobs or income structure during the approval process.

• Do not delay financial reviews during long settlement periods.

—–Ready to start your journey?

Contact us today. We support clients across Australia in English, Nepali, and Hindi.