First Home Buyers

Buying your first home is an exciting yet complex journey. At Coco Finance Broking, we understand the unique needs of first home buyers on the Central Coast and across Australia. Our mission is to simplify the process and provide you with access to Home Loan options from banks and lenders nationwide. Whether you're uncertain about the application process or need guidance on interest rates and eligibility for first home owner grants (FHOG), our team is here to support you every step of the way.

Understanding your financial situation is crucial when buying your first home. Before applying for a home loan, it's important to assess your borrowing capacity, which helps determine the loan amount you can afford. Our experts can assist in evaluating your credit history and bank statements to ensure you're in the best position possible. Additionally, you may be eligible for interest rate discounts or LMI waivers, which can significantly impact your overall costs. We'll guide you through checking eligibility for these benefits, making sure you get the most out of your first Home Loan.

Navigating the property market can be daunting, especially for first home buyers. With Coco Finance Broking, you gain access to banks and lenders nationwide, allowing you to explore both fixed and variable interest rate options. We help you understand the loan to value ratio (LVR) and how it affects your loan terms. Our streamlined application process is designed to make applying for a home loan as straightforward as possible. By choosing us, you can focus on finding the right property while we handle the rest.

First home buyers may also wonder about additional expenses, such as stamp duty, when buying a home. Fortunately, there are opportunities to reduce these costs. We can advise on exemptions or concessions that may apply to you, helping to ease the financial burden. Furthermore, setting up an offset account could be beneficial, allowing you to reduce interest payments over time. For those considering future investments, we provide insights into investment loan options and how they might relate to your first investment property.

As you embark on the journey of buying your first home, let Coco Finance Broking be your trusted partner. We offer a personalised service that caters to your individual needs, ensuring a smooth transition into homeownership. Our team is committed to helping you get pre-approved and ready for this exciting milestone. Contact us today to explore how we can assist in making your dream of owning a home a reality.

Step 1: Discovery Meeting

Your journey begins with a detailed discussion with your Finance & Mortgage Broker. Whether you're buying your first home, expanding your investment portfolio, or refinancing an existing loan, this is the time to outline your goals, financial position, and any unique circumstances. You’ll also start to explore your borrowing power and get an overview of available loan products from a wide range of banks and lenders across Australia. Your broker will explain key terms like interest rates, loan-to-value ratio (LVR), and lenders mortgage insurance (LMI) if it applies.

Step 2: Financial Assessment

Your broker will carry out a full financial health check, looking at your income, expenses, savings, debts, and credit history. This assessment helps determine how much you can borrow and what your repayment commitments will look like. Your broker will also identify any eligibility for special rates or government initiatives, such as the First Home Owner Grant or stamp duty concessions.

Step 3: Tailored Loan Options

Using your financial profile, your broker will shortlist suitable loan options from various lenders. Whether you're after a fixed, variable, or flexible loan with features like offset accounts or redraw facilities, your broker will help you compare and understand each product. They'll also walk you through the pros and cons, ensuring you feel confident and well-informed when making your choice.

Step 4: Pre-Approval

Securing pre-approval gives you a clear budget and shows sellers you’re a serious buyer. Your broker will assist in preparing and submitting the required documents—such as payslips, tax returns, and bank statements—helping ensure your pre-approval is processed smoothly. With this in hand, you'll be ready to make offers and act quickly when the right property comes along.

Step 5: Submitting the Application

Once you’ve selected your preferred loan, your broker will handle the full application process on your behalf. They’ll lodge the application with the lender and provide any additional supporting documents as required. Your broker will also stay in close contact with the lender to answer questions and ensure everything stays on track.

Step 6: Approval & Settlement

After your loan is formally approved, your broker will help you review the loan contract, going over the details like interest rates, fees, and repayment terms. They'll also help organise your loan repayments and any relevant insurances. Once settlement takes place, your property purchase is complete and you officially take ownership.

Step 7: Ongoing Guidance

Even after settlement, your broker remains a key resource. They can assist with reviewing your loan over time, refinancing when needed, or helping you leverage your equity for future purchases. Your relationship with your broker doesn’t end at settlement—they’re there to support your long-term property goals.