Your Journey to Homeownership Starts Here
Buying your first home is an exciting milestone—but we understand it can also feel overwhelming. At AKM Finance, we’re here to make the process smooth, stress-free, and rewarding
Why Choose Us for Your First Home Loan?
Expert Guidance:
Our experienced team walks you through every step, from understanding your borrowing capacity to settling into your new home.
Tailored Loan Options:
We’ll help you find a loan that fits your needs, lifestyle, and budget.
Government Incentives:
We ensure you’re taking advantage of any first-home buyer grants, stamp duty concessions, or other benefits available to you.
Simplified Process:
From paperwork to approvals, we handle the heavy lifting so you can focus on finding your dream home.
What We Offer for First Home Buyers:
Pre-approval assistance to give you confidence during your property search.
Advice on fixed vs. variable interest rates and loan features.
Tips for budgeting, saving, and meeting lender requirements.
Take the First Step Today
Your dream of homeownership is within reach. Contact us to start your journey, and let our experts guide you through the process with ease and confidence.
In Melbourne, first home buyers may be eligible for the First Home Owner Grant (FHOG), which provides financial assistance to help purchase or build a new home. Here are some key details:
Grant Amount:
Eligible first home buyers can receive up to $10,000 for a new home valued up to $750,000 or less. The property can be a house, townhouse, apartment or unit. The first home owners grant is worth $10,000 for homes in Melbourne and $20,000 for homes in regional Victoria.
Eligibility:
This one-off payment is only available if you buy a newly built home or if you build a brand-new home from scratch (never previously sold or occupied)
Stamp Duty Concessions:
First-home buyers may also benefit from stamp duty exemptions or concessions for properties valued up to $600,000, with tiered concessions available for homes valued between $600,001 and $750,000.
The First Home Guarantee (FHBG)
The First Home Guarantee (FHBG) is part of the Australian Government’s Home Guarantee Scheme, designed to help eligible first-home buyers purchase a home sooner. Here’s how it works for Melbourne residents:
Low Deposit Requirement:
The scheme allows eligible buyers to purchase a home with as little as a 5% deposit, without needing to pay Lenders Mortgage Insurance (LMI).
Government Guarantee:
The government guarantees up to 15% of the property’s value, reducing the need for a larger deposit.
Eligibility Criteria:
- Must be an Australian citizen or permanent resident.
- Income limits apply: up to $125,000 for individuals or $200,000 for couples.
- Applicants must intend to live in the property as owner-occupiers.
- The property must meet price caps, which vary by location.
For Melbourne, the price cap for eligible properties is typically $800,000, but it’s best to confirm the latest details with a participating lender.
The First Home Guarantee (FHBG)
The First Home Guarantee (FHBG) is part of the Australian Government’s Home Guarantee Scheme, designed to help eligible first-home buyers purchase a home sooner. Here’s how it works for Melbourne residents:
Low Deposit Requirement:
The scheme allows eligible buyers to purchase a home with as little as a 5% deposit, without needing to pay Lenders Mortgage Insurance (LMI).
Government Guarantee:
The government guarantees up to 15% of the property’s value, reducing the need for a larger deposit.
Eligibility Criteria:
- Must be an Australian citizen or permanent resident.
- Income limits apply: up to $125,000 for individuals or $200,000 for couples.
- Applicants must intend to live in the property as owner-occupiers.
- The property must meet price caps, which vary by location.
For Melbourne, the price cap for eligible properties is typically $800,000, but it’s best to confirm the latest details with a participating lender.