First Home Buyers
Buying Your First Home? We’re With You Every Step of the Way
How we help first home buyers
Buying your first home can feel overwhelming—but it doesn’t have to be. At Explore Lending, we specialise in guiding first home buyers through the process with honest advice, simple explanations, and a commitment to finding the right home loan for your needs. Whether you’re just starting to explore or ready to apply, we’re here to help you feel confident every step of the way.
Understand Your Borrowing Power
We’ll calculate how much you could borrow and explain what that means for your home search.
Expert Help with First Home Schemes
We’ll explain and apply for any first home buyer incentives you may be eligible for.
Get Pre-Approved with Confidence
We’ll help you apply for pre-approval so you can house-hunt with a clear budget and stronger negotiating power.
We'll Do the Heavy Lifting
From paperwork to lender follow-ups, we take care of the details so you can focus on finding your first home.
Compare Loans from 30+ Lenders
Access a wide panel of banks and lenders, including options with low deposits and flexible features.
Ongoing Support, Even After You Buy
Our service doesn’t stop at settlement. We’re here for the long haul to help you review and refinance as needed.
Finding the right loan, not just any loan
Not all home loans are created equal. Whether you’re after flexibility, low fees, or help getting in with a small deposit, we’ll help match you with the loan that fits your needs — not just the one the bank wants to sell.
Fixed Rate – Lock in your rate, lock in your repayments.
A fixed rate loan gives you certainty by keeping your interest rate and repayments the same for a set period (usually 1–5 years). It’s ideal if you want to budget with confidence and avoid surprises from rate changes.
Standard Variable Rate – Flexible and feature-packed.
With a variable rate loan, your interest rate can go up or down — but you’ll often get features like offset accounts and the ability to make extra repayments. That can help you pay your loan off faster and save on interest.
Split Loan – Blend stability and flexibility. A split loan lets you divide your mortgage into two parts — one with a fixed interest rate, and the other with a variable rate. It’s a smart way to protect part of your loan from interest rate rises while still having the freedom to make extra repayments on the variable portion.
Low Deposit Loan – Buy your first home sooner.
You don’t always need a 20% deposit. Some lenders accept as little as 5%, and you may qualify for government schemes like the First Home Guarantee to avoid Lenders Mortgage Insurance (LMI)
Mortgage frequently asked questions
Buying your first home is exciting — but it can also feel overwhelming. We’ve answered some of the most common questions first home buyers ask to help you feel confident and informed at every step. From deposit requirements to government grants and borrowing power, here’s what you need to know
How much deposit do I need to buy my first home?
Most lenders require a minimum deposit of 5% to 20% of the property’s value. However, you may also be eligible for low deposit loans or government schemes like the First Home Guarantee, which can reduce the upfront amount needed.
What government grants or incentives are available for first home buyers?
First home buyers in Australia may qualify for the First Home Owner Grant (FHOG), stamp duty concessions, and First Home Super Saver Scheme. These vary by state, so we’ll help you understand what you’re eligible for.
What is Lenders Mortgage Insurance (LMI), and do I have to pay it?
LMI is a one-off fee charged when your deposit is less than 20%. It protects the lender, not you, if you default. In many cases, we can help you structure your loan to avoid or reduce LMI costs.
What documents do I need to get a home loan approved?
You’ll need proof of ID, income (like payslips or tax returns), bank statements, and details of any debts. Don’t worry — we’ll give you a simple checklist to make it stress-free.
What’s the difference between fixed and variable home loan rates?
A fixed rate stays the same for a set term, offering stability. A variable rate can go up or down, often with more flexibility. We’ll help you choose the option that fits your budget and goals.
Can I buy my first home with someone else, like a partner or parent?
Yes! You can co-purchase with a partner, family member, or even a friend. It’s important to have clear legal agreements, and we can help guide you through the process.
What are the steps to buying my first home?
From saving your deposit to getting pre-approval, house hunting, and settlement — there are several key steps. We’ll walk you through every stage and take care of the lending side to keep it simple.
Ready to explore your options?
At Explore Lending, we’re here to make first home loan choices easy and personal. Whether you’re buying your first home, refinancing, or investing, we’ll help you explore the right lending options—without pressure or confusion.
Your next move starts with a conversation.
