Buying your first home can involve more than finding a competitive interest rate. We help you understand your borrowing capacity, compare suitable lenders, consider low deposit and guarantor options, and manage the loan process through to settlement.
Buying your first home involves a series of decisions before you are ready to make an offer.
We start by assessing your income, expenses, deposit and existing commitments to understand your borrowing position. We then compare relevant lender policies, loan options and available pathways into the property market before recommending a suitable lending solution.
This can include considering the Australian Government 5% Deposit Scheme, lenders mortgage insurance or a family guarantee where these options are relevant to your circumstances.
Once you are ready to proceed, we manage the home loan application and coordinate with your lender, conveyancer or lawyer and real estate agent through to settlement.
Assess how lenders may view your income, expenses, deposit and existing commitments before an application is submitted.
Compare relevant lender policies, loan features, rates and fees across our lender relationships and recommend an option suited to your circumstances.
Consider your available deposit and whether the Australian Government 5% Deposit Scheme, lenders mortgage insurance or a family guarantee may be relevant.
Where appropriate, arrange pre approval so you have a clearer understanding of your lending position before making an offer on a property.
Consider variable, fixed or split lending, offset accounts and repayment options where relevant to your needs.
Manage the loan application and coordinate with the lender and other parties involved in the transaction through to settlement.
After settlement, we remain available as your Mortgage Broking contact and proactively request a pricing review from your lender every six months to help ensure your interest rate remains competitive.
The amount of deposit required depends on your circumstances, the property, the lender and the pathway used. We can assess the options that may be available before you commit to a purchase.
Eligible first home buyers may be able to purchase with a deposit from 5% without paying lenders mortgage insurance under the General Stream of the Australian Government 5% Deposit Scheme. The Scheme is administered by Housing Australia and is available through participating lenders. Eligibility and lending criteria apply.
Eligible single parents or single legal guardians with dependants may be able to purchase with a deposit from 2% without paying lenders mortgage insurance through the Single Parent Stream of the Australian Government 5% Deposit Scheme. Eligibility and lending criteria apply.
Where a government guarantee or family guarantee is not used, some lenders may allow a smaller deposit with lenders mortgage insurance. LMI protects the lender rather than the borrower and can add to the cost of the loan.
Some lenders allow an eligible family member to provide additional security to support part of the home loan. A guarantee can reduce the deposit required or avoid LMI in some circumstances, but it creates significant obligations for the guarantor and should be carefully considered.
A family guarantee can help some first home buyers purchase sooner by allowing an eligible family member to provide additional security for part of the loan.
The guarantor is taking on a genuine financial obligation. The structure, amount guaranteed and lender requirements should be understood before proceeding, and lenders may require the guarantor to obtain independent legal advice.
Where a family guarantee is used, we can monitor the lending after settlement and consider when the guarantee may be able to be released, subject to the lender's requirements, property value and outstanding loan balance.
Review your income, expenses, deposit, existing debts and home buying plans.
Assess relevant lender policies, borrowing capacity, rates, fees and loan features.
Review the Australian Government 5% Deposit Scheme, LMI or a family guarantee where relevant.
Arrange pre approval where appropriate before you commit to a property.
Once you have found a property, complete the lender's property and credit assessment requirements.
Manage loan documentation and coordinate with your lender, conveyancer or lawyer and real estate agent.
Help manage the loan through settlement and remain available afterwards, including six monthly lender pricing reviews.
Buying your first home can involve a number of people and moving parts, particularly if you have not been through the process before.
Our role extends beyond arranging the finance. We bring our experience to the transaction and act as the central point of coordination between you, your lender, real estate agent and conveyancer or lawyer, helping each party understand what is required and when.
From pre approval and making an offer through to formal approval, loan documents and settlement, we help bring the different parts of the transaction together and keep the process moving.
For a first home buyer, this additional support can make the transition into home ownership easier and give you a clear point of contact throughout the process.
There is no single deposit amount that applies to every first home buyer. The amount depends on the lender, property, your circumstances and whether you are eligible for options such as the Australian Government 5% Deposit Scheme, lenders mortgage insurance or a family guarantee. We can assess the available pathways before you make an offer.
Lenders mortgage insurance, or LMI, generally protects the lender if the borrower cannot repay the loan and the lender suffers a loss. It does not protect the borrower. LMI can allow some borrowers to purchase with a smaller deposit, but it adds to the cost of the loan.
The Australian Government 5% Deposit Scheme is administered by Housing Australia and allows eligible buyers to purchase with a smaller deposit without paying lenders mortgage insurance. The General Stream supports eligible first home buyers from a 5% deposit, while the Single Parent Stream can support eligible single parents or single legal guardians with dependants from a 2% deposit. Participating lender and eligibility requirements apply.
Pre approval can give you a clearer understanding of your lending position before you commit to a property. Whether it is appropriate and how much reliance you should place on it depends on the lender and your circumstances. Pre approval is generally conditional and is not the same as unconditional or formal loan approval.
A formal credit application may result in a credit enquiry being recorded on your credit file. We assess suitable lender options before lodging an application to help avoid unnecessary applications.
Potentially. Some lenders allow eligible family members to provide additional security for part of the loan. The guarantor takes on a significant obligation and should understand the risks and lender requirements before proceeding. Independent legal advice may be required.
Yes. We remain available as your Mortgage Broking contact after settlement and proactively request a pricing review from your lender every six months to help ensure your interest rate remains competitive. We can also review your lending if your circumstances change or you are considering refinancing or another property.
Private Capital Management's Mortgage Broking team is based at Level 26, 1 Bligh Street in the Sydney CBD. We work with first home buyers in person in Sydney and online across Australia. Meetings, document collection and signing can generally be completed digitally, allowing us to manage the home loan process from initial assessment through to settlement.
Licensed and Accredited
ACL 389328
Credit Representative 484265
30+
Lender relationships
Speak with our Mortgage Broking team
Meet with our Mortgage Broking team to discuss your first home, borrowing position and the lending options that may be available. No loan application is made at this initial meeting.
Book a Mortgage Broking Meeting Or contact us with a question