Congratulations, becoming a first home owner is a significant moment in life that you will always remember. This is a very exciting journey, but we know it can also be overwhelming. At Rhythm Finance Co our mortgage brokers will help you navigate every step of the process, so that you can relax knowing we are working hard for you. We don't charge any fees for our service, because the lender pays us once your loan has settled. It’s important to understand that we work exclusively for you and your best interests. Rhythm Finance Co is family owned, our brokers are local to the Coffs Harbour area and eager to help you achieve your goal of home ownership.
How we help you…
With interest rates at historical low levels and government assistance available to support first home buyers, now is a great time to get started. We can also discuss loan structures to get you into your own home sooner without a full deposit.
The first step is to talk with a home loan specialist and book an appointment, so we can understand your financial and lifestyle goals.
We’ll ask for information so that we can understand your current financial position, then we’ll provide you with loan options that are right for your situation and help you choose one. You can expect to provide things like pay slips, bank statements, details of living expenses and savings history.
Once you’ve chosen the loan that’s right for you, we’ll help prepare the application and supporting documents, confirming everything with you before submitting these to the lender. We’ll highlight the strengths of your application in our accompanying professional recommendation.
Once the lender has assessed and accepted your application, they will provide a conditional approval, also known as pre-approval or approval in-principle. This will be subject to one or more conditions being satisfied such as a property valuation.
Unconditional approval is provided once the lender has everything they need, and a formal approval letter will be issued. You can now confidently proceed to sign and exchange contracts on your first home.
Once your loan documents arrive, we’ll help you review them before you sign, and we’ll be available to answer any questions you may have. You’ll also need to arrange home insurance in anticipation for settlement.
Your solicitor or conveyancer will arrange settlement directly with the lender, on the date specified within the contract of sale. Any funds you are contributing towards the purchase will need to be made available for settlement.
Congratulations, you are now officially a First Home Owner! Our journey with you doesn’t end here, we’ll keep in touch to ensure your home loan continues to be the right option for you now and into the future.
The First Home Guarantee (FHBG) is an Australian Government initiative to support eligible first home buyers purchase their first home sooner.
35,000 First Home Loan Deposit Scheme places will be available to eligible first home buyers from 1 July 2022 to 30 June 2023.
Usually, first home buyers with less than a 20% deposit need to pay lenders mortgage insurance.
Under this Scheme, part of an eligible first home buyer’s home loan from a Participating Lender will be guaranteed by NHFIC. This is aimed at enabling you to purchase your first home sooner with as little as a 5% deposit.
Any guarantee of your home loan is for up to a maximum amount of 15% of the value of your property (as assessed by your lender). This guarantee is not a cash payment or a deposit for your home loan.
Visit the First Home Guarantee website to learn more.
The Family Home Guarantee aims to support eligible single parents with at least one dependent child in purchasing a family home, regardless of whether that single parent is a first home buyer or a previous home owner.
10,000 Family Home Guarantees will be made available over four financial years from 1 July 2021 to 30 June 2025.
Usually, home buyers with less than a 20% deposit need to pay lenders mortgage insurance.
Under this Scheme, part of an eligible home buyer’s home loan from a Participating Lender will be guaranteed by NHFIC. This is aimed at enabling you to purchase your first home sooner with as little as a 2% deposit.
Any guarantee of your home loan is for up to a maximum amount of 18% of the value of your property (as assessed by your lender). This guarantee is not a cash payment or a deposit for your home loan.
Visit the Family Home Guarantee website to learn more.
In NSW, the First Home Owner Grant (New Home) pays $10,000 for applicants who:
A NSW scheme also allows first home buyers to pay zero stamp duty for new or established first homes up to $650,000 and concessions on stamp duty for homes between $650,000 and $800,000.
Other states and territories of Australia have their own schemes to help first home buyers get into the market sooner. We can help you understand all the benefits and take care of the paperwork to apply.
Rhythm Finance Co Pty Ltd (Credit Representative 532711) is authorised under Australian Credit Licence 389328
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.