First Home Buyer Mortgage Broker
Whether you’re ready to leave the nest or have decided it’s time to stop renting, knowing where to start with your first home purchase can be a challenge. Our mortgage brokers in Melbourne are here to answer all these questions and more, helping individuals and families achieve their dream of owning a residential property in Australia.
Give Yourself a Head Start
At Mel Finance, we understand how daunting and tedious buying your first home can be. From rising property prices and a wealth of new concepts to get your head around to the fierce competition posed by established investors and other first-home buyers in Melbourne – it’s no wonder so many people feel overwhelmed. The good news is that our home loan brokers are here to help you get ahead of everyone else.
When it comes to starting your home-buying journey, you deserve the best. When you work with an experienced first home buyers mortgage broker like Mel Finance, you’ll get the right advice to set yourself up for success. We can help by taking the complexity out of buying your first home, putting you in touch with experts who understand your position and devising a strategy to match, ensuring that you can live your best life while doing it.
We’re With You, Every Step of the Way
We are with you from the first enquiry that you made with us to the settlement. We encourage anyone thinking about buying their first residential property to speak with our housing and mortgage broker experts to gain a unique perspective on the advantages and disadvantages of being a first home buyer in Melbourne.
Our cutting-edge software allows us to search through thousands of mortgages to find one that is right for you. Letting us take care of the financials leaves our clients free to focus on finding the right property.
As a bonus, we also provide our valued clients with a comprehensive property file report prepared by Corelogic RP Data (the largest property data company in Australia) and our partnered solicitors will review your first contract of sale and the section 32 for FREE!
First Home Buyer Grants Melbourne
Did you know that Victorian government support is available when buying your first home? It’s important to understand which grants and incentives you’re eligible for before getting started.
Ready to buy your first home? Congratulations!
Mel Finance is here to walk you through the home loan process.
First Home Buyer Checklist
If you’re thinking about becoming a first home buyer in Melbourne in the next three months, our essential checklist is for you:
Your First Home Buyer Questions Answered
It is recommended that buyers have a deposit of at least 20%, as this will mean you won’t have to pay Lenders Mortgage Insurance (LMI). First home buyers in Melbourne with a deposit of only 5%, however, may be eligible for the First Home Loan Deposit Scheme.
Yes, in some circumstances first home buyers can access their super to purchase a home. This is known as the First Home Super Saver (FHSS) scheme. It allows you to contribute up to $15,000 each financial year that can later be withdrawn as your deposit (up to a maximum of $50,000). Please contact us for more information on this scheme.
If one partner has previously owned or bought property in Australia, it may have an impact on your first-time buyer status when you make a joint application for a mortgage. If they did not live in the property as their primary residence, you may still be eligible for the first home buyers grant in Melbourne. Please contact us for more information.
No, under the Stamp Duty Exemption, first home buyers in Melbourne currently do not pay stamp duty providing their property is valued at $600,000 or less. Buyers who have purchased properties valued between $600,001 and $750,000 may be eligible for a stamp duty concession.
In order to avoid LMI, you need a deposit of at least 20%.
Yes, providing you meet all other eligibility criteria and have the means of making your monthly mortgage repayments.
Why Choose Mel Finance?
Be Quietly Confident with Mel Finance
Although it can be complex and challenging at times, buying your first home is an exciting journey – one that the Mel Finance team would love to be a part of.
We’ll be with you every step of the way – helping you to save an appropriate deposit, explaining the first home buyer grant in Melbourne and the other types of government support available, matching you with the right home loan, and celebrating when you sign on that dotted line.
Start Your First Home Buying Journey Today
With more than a decade of experience in the local property market, the team at Mel Finance is well-placed to help the journey go as smoothly as possible for first-home buyers in Melbourne. Whether you want to learn more about the first homeowners grant or the various schemes available, or you’ve found your dream property and are ready to start looking at home loans, you’ve come to the right place.
Addressing All Your Loan and Refinancing Requirements
Wondering if there’s a superior deal for you? Unearth it by exploring refinancing options with our proficient brokers. We’ll guide you through from option analysis to finalizing a refinanced mortgage. Refinancing could lower your interest rate, unify your debts, reduce your repayment time and accelerate your journey to debt freedom.
Set sail on your property investment voyage armed with well-informed choices. Uncover a variety of investment loans, selected by expert hands, that align flawlessly with your needs. Gain from astute guidance on tax-smart loan configurations, whether you’re a property market newbie or a seasoned portfolio grower.
Comprehending the hectic life of healthcare professionals, we sculpt personalized home loan strategies. Our skilled brokers guide you, making the mortgage process easier. We aim for a fast, safe loan process, freeing you to attend to your primary responsibilities.
Buying a house is always a daunting task for first-time homebuyers, especially those new to Australia. I think we were very fortunate to meet Lumbini on this Journey. He is very knowledgeable and makes things easier to understand for a newbie like us. He empowered us with the knowledge to make the right decisions. Not only did he help us with the mortgage stuff, but he also mentored us throughout the entire process. It is such a pleasant experience working with him, and I would very highly recommend him. Thank you very much, Lumbini - looking forward to working with you soon on our next project.
December 4, 2021
Lumbini has been extremely helpful and available during my investment journey through a challenging economic environment. Lumbini provides a hassle free experience with high level of customer service. I would highly recommend Mel Finance.
August 27, 2022
Another great experience with Lumbini, this time for refinancing. Although it was not an easy process from bank and took almost 2 month longer than what bank mentions through application forms but same as always he did a great job. Thanks mate
June 16, 2021
Lumbini was to work with financing our home and investment property. He kept in close contact through every step of the process. He found us a great loan and explained how the new setup would work. Lumbini answered all our questions along the way. I highly recommend Lumbini.
March 2, 2022