As a first home buyer there are a few perks that make getting into the property market just a little bit easier. The First Home Owner Grant is one of them. If you tick all the eligibility boxes you may receive $10,000 towards your new home, plus stamp duty savings.

Paying a mortgage on your first home may also be less than you think compared to renting. Oliver Hume Home Loans have put together some repayment figures to show how it may be better to buy your first home.

The below is a helpful guide to recognise what your potential* repayments could be.

If you would like to learn more and connect with an Oliver Hume lending specialist please email a.mckenzie@ohhomeloans.com.au

*Disclaimer
Note: Comparison Rate based on loan of $150,000 over a 25 year term. Conditions apply and fees and charges may be payable.

WARNING:
The Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayments fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst all care has been taken in the preparation of repayment schedules, graphs and other loan details and estimates of fees, no responsibility will be held for their reliability. We recommend that all loan details and fee estimates be confirmed with the appropriate Lender(s), Government Department and/or your legal representative prior to you making a decision on whether to proceed with a loan. LMI rates are estimates only.  Please refer to the applicable lenders’ LMI Rate Card/Calculator for an estimate of the LMI fees for your client’s particular circumstances.

All government grants, incentives and schemes are the responsibility of the purchaser. Eligibility is outlined by the SRO websites.  https://www.sro.vic.gov.au/first-home-owner