What is your borrowing power?

Let's start by first looking at how much you can borrow. The amount you can borrow is determined by your income, your financial commitments, current savings and your credit history. 
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What are your finance options?

If you haven't quite saved enough for a deposit yet, there are a number of non-traditional methods of property ownership that you could consider.
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Current Home Loan Deals 

Everyone's circumstances differ, so the right home loan for you may be very different that someone else. There are, however, a number of key things to consider when looking for best home loans that everyone should consider.
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Let's Get Started

Buying your first home is an exciting time - but daunting as well. Not only can Collins Home Loans provide you with access to an extensive range of home loans available to first home buyers, but we simplify the whole process and ensure you understand every step along the way.

There are a range of State and Federal government incentives for First Home Buyers, including stamp duty relief in some areas.  There is also the Federal Government’s legislation to allow first home buyers to contribute up to $30,000 in pre-tax super to a deposit.

Are you eligible for any first home owners grants or concessions?

There are two categories of benefit for first home buyers -  first home owners grants and stamp duty concessions. Both of these differ depending on which state or territory you are buying property in. In general you can expect the following conditions:

• Plan to live in the home for a minimum of 12 months.
• Must not be in a relationship with a partner who has previously purchased a home.
• Some grants rely on the property being newly built, and can depend on dates constructed or started.
• Can own an investment property, with the condition that they have never lived in it, but the discounts can’t be applied to the purchase of an investment property.
• Depending on what state or territory you are in,  you could qualify for a full or partial stamp duty exemption. The concession is available only once.

For example, NSW first home buyers don't have to pay stamp duty on properties valued below $650,000, saving them up to $22,000. But first home buyers constructing or purchasing new homes can also receive a $10,000 grant (depending on the value of their property). In Victoria the grant can go as high as $20,000 if you're buying a new residential property outside Melbourne.