Buying your first home can be both exciting and a little daunting. Everyone has a piece of advice to offer which can only add to the confusion.

Like with any important decision, a plan of action is required.

The first step is to determine the loan amount you can afford – online assessment was designed just for this purpose.

Raising a deposit can often prove a challenge. Do not worry if you do not have much of a deposit saved, we are able to lend the full amount of your purchase price through our 100% loans.

Clean credit history is important with 100% loans. It is a good idea to check your own credit before making any loan inquiries. You can do this for free by going to www.baycorpadvantage.com.au

While you may be entitled to the First Home Owner government grant of $7,000, buying a property carries a range of costs such as mortgage insurance, legals, stamp duty on purchase valuation costs etc.

Even if you borrow 100% of the purchase price, you still need to have sufficient additional funds to apply towards these expenses.

Once you know the amount that you qualify for, the next step is to find a home you wish to buy. The secret to real estate investment is buying well. Your pre-approval will help you do this. Remember to sign your purchase offer “Subject to finance” as time will be required to value the purchased property and collect the supporting documents required with your loan application.

Our loan processing centre is highly automated. Consequently, we can settle your purchase in just 14 days. Most lenders require anywhere from 4 - 8 weeks to do the same.

This can also give you a real advantage in negotiating a purchase price.

First Home Buyers Loan Options:

• 100% Variable Rate Loan
• Advantage Rate Loan
• Fixed Rate Loan
• Low Doc Loan