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FHBA Coach
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HOW CAN AN FHBA COACH ASSIST?
SAVING A HOME DEPOSIT
How can I get a deposit sooner?
FHBA Coaches can assist by letting you know exactly how much you will need and how you can build your deposit quicker.
How do I know when I have enough saved?
At FHBA, we can give you the correct answer as to whether you have enough. You may have enough already, but we will always give you options on what deposit is required in certain cases and how you can save money/insurance costs when you apply for your first home loan.
How much of my income should I be saving?
That depends on your lifestyle. But we can advise on how much you should be saving to reach your savings goals at a certain point of time in the future.
How do I find the best savings accounts?
There are plenty of savings comparison websites. You can also use the First Home Super Savers scheme. This will not help you get a deposit quicker but it will also reduce the amount of tax you pay. Find out more by scheduling a call with a FHBA Coach.
Should I be renting or staying at home?
Staying at home is not an option that is available to everyone. However, if you are renting there are ways you can reduce your rental commitments. Find out more by asking a Coach.
What are some of the hottest savings tips?
We have heaps! Book a no obligation consultation with an FHBA Coach now to find out.
FINANCING YOUR FIRST HOME
How much can I borrow?
This is where our FHBA Coaches come into our own. We will give you an accurate figure based on your income & liabilities situation pretty much on the spot in our first call. Book a call to find out more.
How much deposit do I need to borrow?
Did you know that you can get a home loan without any savings? We can look into your options as we understand that some aspiring first home buyers have to rent, and the rental commitments are increasing all the time. Generally speaking, 5% of your desired property purchase price is a good starting point!
What is the best interest rate on offer?
We have access to some of the best rates on the market and some specifically for first home buyers only. The best interest rates can be found on our Home Loan page. Or simply just book a call with a FHBA Coach and we will save you the hassle of searching yourself and find you the best rate for your situation.
How do I get a home loan pre-approval?
At FHBA, we make it pretty easy. We can turnaround pre-approvals in a matter of days. Our Coaches work for you, not the banks. Our seamless process for getting a home loan pre-approval will give you the WOW factor. Book a call with an FHBA Coach to get pre-approved within 48 hrs!
Should I go for a fixed rate or variable rate loan?
Interest rates fluctuate all the time. But deciding between a fixed and variable rate all comes down to whether you want flexibility in your home loan or if you want certainty of repayments. However, did you know that you can have the best of both worlds! Ask a Coach to see how we can make this happen!
What is LMI?
Lenders’ Mortgage Insurance, (LMI), is insurance that protects the bank, not you. It is a one-off payment made by the borrower when you borrow more than 80% of the property purchase price. It can also be capitalised onto the loan, avoiding having to save an extra amount for the LMI competent. However, you can also get a LMI waiver! Find out how you more about LMI by asking a Coach.
SEARCHING YOUR FIRST HOME
Where should I buy my first home?
Depends on your situation. We will equip you with all the right tools so you can decide where it is best to buy! Book a call with a FHBA Coach to get assistance.
Am I eligible for any Grants & Incentives?
Most first home buyers will be eligible for some sort of Government assistance. Each State and Territory have their own Grants/Exemptions. Don’t worry about researching just ask us and we will tell you what you are and what you aren’t eligible for!
Should I buy a free-standing home or a strata title?
Strata titles can be expensive, however if the location is convenient for you and you are looking to buy in the lower end of the market this may be the only option. Of course, the Great Australian Dream is to buy your own home with your own land. Some of our clients have chosen to do this as their second property purchase.
Should I buy a new or established home?
Building your dream home can be expensive and finding an established homes that meets all your needs can be hard. For this reason, it is a very hard decision. New homes are eligible for the First Home Owners Grant, established homes are eligible for stamp duty exemptions. Talk to us so we can help you decide which suits you best!
Should I buy off-the-plan?
There are risks associated with buying off the plan. There are also benefits to buying off the plan as it is a purchase that settles in the future, allowing you to lock in the price now and giving you time to save the necessary deposit at settlement time. Ask us for more information!
How do I search for the best areas?
Our Coaches are equipped with the latest suburb profile reports which can help you decide which area best meets your requirements. Or you can access these yourself at no cost, by using our FHBA Eligibility Estimator as many times as you like!
SECURING YOUR FIRST HOME
How can I get assistance in my first home negotiation?
FHBA can help by giving you some tips, or if you are looking for the full service you can actually ask us as we have access to licensed buyers agents who won’t charge you tens of thousands of dollars or a % of the purchase price.
What do I need to consider when inspecting a home?
If you’re in a position to buy a home, that is great news! But before you proceed with the purchase of a home, there’s a number of things you should inspect on the property. Book a complimentary FHBA Discovery Session to find out more!
What do I need to consider for settlement?
There are heaps of elements when you buy a home, after all it is probably the most expensive transaction you are making in your life. We will make sure you are ready for settlement by guiding you every step of the way!
I have found a property but what is next?
Make sure you are pre-approved for a home loan. If you aren’t that is ok, as we can also assist by getting you the right home loan for this property before the finance period or cooling off period expires. Book a call with a FHBA Coach to get started now!
Do I need a conveyancer?
Absolutely! Conveyancers or settlement agents are licensed legal professionals who will ensure your contract is reviewed and will make sure your purchase settles on time without any hiccups. Our FHBA Brokers work very closely with all conveyancers to ensure there are no hiccups.
Should I do a conduct a building/pest inspection?
If you are purchasing an established home, we will absolutely advise you to get a building and pest inspection (usually done by the one person). Whilst it is a cost to get one done, it can potentially save you thousands of dollars later if the property has some issues with it.
MOVING INTO YOUR FIRST HOME
What services do I need to connect to for my home?
Power and Water are critical. But many of our aspiring first home buyers forget about other connections that are necessary, especially if you are looking to build your first home. Ask a FHBA Coach now and find out what exactly you may not have even have thought about!
I am buying a brand new home, how do I get connected?
There are plenty of options to get everything done by the one provider. But we recommend shopping around for the best deals for each service. Let an FHBA Coach give you some options on how you can ensure you are ready to go with everything by the time you move in.
Do I need solar power to save on energy costs?
If it adds up then absolutely. Whilst it is an upfront cost, it can save you money in the future and it also helps to boost the value of your first home. There are plenty of affordable options out there too! Ask a Coach for more information.
Where can I find the best rates for my power & gas?
A FHBA Coach can help you find this as we want to make sure you lower your costs as much as possible, considering you will have a mortgage now. Talk to us now to find out more about the best deals available now.
How can I easily connect to all the services I need?
FHBA can help. As we are the one stop shop for first home buyers, we can get these connected for you with ease.
Who can help me move my furniture?
Removalists are the main players in the moving furniture game. But each removalist differs in what they can offer. Let us help you find the best one for your budget and needs.
PROTECTING YOUR FIRST HOME
What insurance cover do I need for my first home?
Home & Contents Insurance is critical. So is Life Insurance. You can also protect yourself and your home in many other ways. Whilst insurance is a cost, it is definitely one we recommend to all of our clients. We want you to be protected in case things go wrong!
Do I need both Home & Content Insurance?
You don’t actually need both. Even the banks don’t require both home and contents. However, it is critical you get home insurance as it protects your house from natural weather events and damage to your house. Find out how a FHBA Coach can assist you in getting comprehensive coverage.
How important is Life Insurance now that I have a loan?
If something happens to your partner, you don’t want to be in a position where you aren’t forced to sell your home to cover the repayments. There are many ways to get life insurance and not having to worry about the costs coming out of your pocket, you can even get in through your Superannuation Fund. Ask us more to find out about how we can help you be fully protected.
Is Income Protection Insurance important?
Depending on your occupation it can be important. You want to ensure that if something happens to you while you are working, that you are protected and have some form of income while you are out of work.
Do I need a will?
Whether you are buying your first home on your own or with your partner it is important to have this discussion. It is not imperative that you get a will but it can be a good idea depending on your situation.
How can I get security for my first home?
Making sure your first home is secure is important, especially if you have a big family. It helps protect your family and your home. If it is within your budget it is always a good idea to get home security, especially if you are living in a free standing dwelling.