First Home Buyers
At Rizon Finance, we're Mortgage & Finance Brokers helping clients Australia-wide access Home Loan Options, First Home Owner Grants and Incentives
Rated 5 from 3 Reviews
At Rizon Finance, we're Mortgage & Finance Brokers helping clients Australia-wide access Home Loan Options, First Home Owner Grants and Incentives
Rated 5 from 3 Reviews
Stepping into the property market for the first time can be a thrilling yet daunting experience. First Home Buyers are faced with a myriad of decisions, from choosing the right property to securing a loan that suits their financial situation. That's where Rizon Finance comes in. Based in Bannockburn, we are dedicated Mortgage & Finance Brokers, committed to guiding First Home Buyers through the intricate process of buying their first home.
Choosing Rizon Finance means you'll have access to an extensive network of banks and lenders across Australia. This access ensures that you can compare a wide range of home loan options, from those with the lowest interest rates to those that offer features like offset accounts. Whether you're after a variable interest rate that offers flexibility or a fixed interest rate for stability in your repayments, we've got you covered.
For First Home Buyers, understanding the details of lenders mortgage insurance (LMI), loan to value ratio (LVR), and the impact of your credit history is crucial. LMI can be an additional cost if your deposit is less than 20% of the property’s value, impacting your borrowing capacity. However, Rizon Finance can navigate these waters for you, finding loan options that might allow you to save on LMI or capitalise it onto the loan itself.
Another essential consideration is the first home owner grants (FHOG) and other state-specific incentives, such as stamp duty concessions, which can significantly reduce the upfront cost of buying your first home. Our experts will help you understand what you're eligible for and assist in the application process, ensuring you're not missing out on any benefits.
Interest rate discounts and special offers for First Home Buyers can make a significant difference in the long run. Our relationships with lenders allow us to negotiate competitive rates and terms tailored to your financial situation. Plus, for those considering their first home as an investment, we offer guidance on investment loan options, ensuring your first step into property investment is informed and strategic.
Applying for a home loan with Rizon Finance is a streamlined process. We understand the importance of getting pre-approved and having a clear understanding of your borrowing capacity. From assessing your financial situation, including bank statements and credit history, to submitting the application, we're with you every step of the way.
Our goal is to make buying your first home an exciting and stress-free experience. With Rizon Finance, you'll have a dependable partner, dedicated to finding the best loan for your needs, helping you navigate the property market, and ultimately, securing the keys to your first home.
In 60 seconds, understand how much you can borrow to buy your dream home.
Get your Borrowing Capacity
Initial Consult
Have a chat with one of our qualified Mortgage Brokers who will understand your situation and talk you through the next steps.
Fact Find
We'll work with you to understand a bit more about your situation (including your financials, assets etc.) to make sure you will qualify for a loan.
Pre Approval
Once you're approved, you can start bidding or making offers on properties you want to purchase.
Settlement
You settle on the property, your loan draws-down and you're good to go!
Book AppointmentAT
Alana Trait
Finances have always been a struggle of mine but Daniel made the whole process easy and we were able to work out the best option for my financial situation :)
TS
Tanya Shepard
Daniel is a total professional while providing that personal touch, he gives good communication which helped me work through the process of achieving a great financial solution. I have already passed on his details to friends and family looking for similar services, I have no hesitation in recommending his services.
CT
Clive Talbot
The Australian Government offers a number of schemes to assist first home buyers, such as:
• A $10,000 First Home Owner Grant when building a new home valued under $750k
• Stamp duty exemptions for properties valued less than $600k
• Concessional stamp duty rates on properties valued at $600-750k
• Access to shared equity and 5% deposits through the Victorian Homebuyers Fund (VHF)
• Federal schemes, including the Home Guarantee Scheme, Help to Buy, and First Home Super Saver Scheme (FHSSS)
Rizon Finance specialise in this area as we understand it can be a challenge as not all lenders would consider these circumstances. We have access to niche lenders that accommodate this type of lending.
There are a variety of home loan products available, each with its own features and benefits. Some common types include:
• Fixed-rate loans: Offer certainty in your repayments over a fixed term.
• Variable-rate loans: Interest rates can fluctuate with market conditions.
• Interest-only loans: You only repay the interest on the loan for a set period, then begin repaying the principal amount.
We can explain the different loan options and help you choose the one that best suits your needs.
We certainly can. We help you navigate what assistance may be available to you as we understand getting your foot on the ladder as a first home buyer can be a difficult and daunting process.
We understand there are many reasons why people may experience forms of financial difficulty/credit problems and work with each scenario to understand them. Rizon Finance can speak to each lender to fight your case to secure lending.
The comparison rate is a more accurate reflection of the true cost of a loan than the advertised interest rate. It includes the interest rate as well as most fees and charges associated with the loan. Comparing the comparison rates of different loans will help you find the most cost-effective option.
Rizon Finance can understand your business and source great deals for Self-employed applicants.
There are many benefits to using Rizon Finance. Here are a few:
• Access to a wider range of lenders: Rizon Finance work with a large and reputable panel of lenders, so we can find you a loan that best suits your needs and financial situation, even if you don't qualify for a loan from your own bank.
• Personalised service: Rizon Finance take the time to understand your individual circumstances and goals, and then recommend the best loan options for you.
• Expertise in navigating the loan application process: Rizon Finance assist with all the paperwork and liaise with lenders on your behalf, saving you time and stress.
• Compliance: Rizon Finance operate in a highly regulated environment and provide recommendations. Therefore, we have a duty to all our clients to provide appropriate products in the best interests of our clients
The amount you can borrow will depend on a number of factors, including your income, expenses, savings, credit score, and the property value. We can help you determine your borrowing capacity and ensure you borrow responsibly.
The documents you will need to provide will vary depending on your individual circumstances and lender, but some common documents include:
• Proof of income (payslips, tax returns)
• Photo ID
• Bank statements
• Evidence of savings deposit
• Details of the property you are purchasing (contract of sale)
• Details of assets
• Statements for liabilities
Rizon Finance will provide you with a complete list of required documents once we begin working with you.
The loan application process typically takes 4-6 weeks, but this can vary depending on the complexity of your application and the lender's processing times. We will keep you updated throughout the process.
Don't despair! We can help you understand why your application was declined and work with you to improve your chances of approval in the future. This may involve improving your credit score, saving a larger deposit, or finding a guarantor.
Rizon Finance do not charge you any fees. We get paid a commission by the lenders. All commissions are disclosed and discussed upfront before you proceed with an application.
In addition to your mortgage repayments, there can be a number of ongoing costs associated with a home loan, such as establishment fees, account fees, and lenders mortgage insurance (if applicable). Rizon Finance will help you understand these costs and factor them into your budget.
Tomlinson, Daniel ABN: 90 232 048 159. Credit Representative #561000 is authorised under Australian Credit License #384324.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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