Client story · First home buyer
Into Their First Home in Blacktown on a 5% Deposit
A young couple came to me convinced they were years away from buying. Six weeks later they had the keys to their first home. Here's how it came together.
5%
deposit needed
$0
lenders mortgage insurance
6 weeks
from first call to approval
The situation
They were both working full time, renting nearby, and saving hard, but they thought they needed a 20 percent deposit before anyone would take them seriously. They'd almost talked themselves out of even looking.
What we did
- Checked their eligibility for the First Home Guarantee, which lets eligible buyers purchase with as little as 5 percent and no lenders mortgage insurance.
- Tidied up a couple of small debts to lift their borrowing power.
- Matched them to a lender whose policy suited their income and the property they wanted.
- Managed the application end to end so they always knew the next step.
The result
They bought a place they genuinely liked in Blacktown, kept a healthy chunk of their savings as a buffer, and avoided a five-figure LMI bill. The whole thing took about six weeks from our first call.
We honestly thought we'd be renting for another three years. Victor showed us we were ready and made the whole thing feel easy.
Frequently asked questions
Is the First Home Guarantee still available?
Scheme places and rules change, so eligibility is worth checking for your situation. Book a quick call and I'll tell you where things stand right now.
Important information
This information is general in nature and does not take your personal objectives, financial situation, or needs into account. It is not credit assistance or a recommendation to enter into any particular credit contract. Consider whether it is right for you and seek advice before acting. Lending is subject to a lender's eligibility and approval criteria. Terms, conditions, fees, and charges apply. Client details are shared with permission and may be anonymised. Individual results depend on your circumstances.
Greenwood Finance · ABN 23 671 049 693 · Credit Representative No. 551942.
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