debt to income ratio

Buying your first home

You deserve the best

As first home buyers, you deserve to start your home buying journey with the best. When you work with Entourage you get the right advice to set yourself up for success into the future.

Having an entourage means:

  • Taking the complexity out of buying your first home in Melbourne
  • Providing you the right advice when you need it
  • Working with experts who understand your position and devise a strategy unique to your needs

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Making life easy

With you every step of the way

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Saving your deposit

When you save your deposit there are a range of different things to consider. From how much you need to save overall through to how much you’ll require to cover stamp duty and other costs. Is it best to put the money into a savings account or term deposit? Invest in shares? Or just pop it in a safe in the cupboard? Ultimately you can employ a strategy here to maximise your savings and get a great deposit saved up in the shortest amount of time.

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Saving you time

Your time is finite. One of the most important things we do is save yours. By getting yourself an entourage, you only submit your information once, you don’t approach five different banks and sit on hold for hours waiting to speak to the right department.

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Find you the right loan

Not all home loans are the same. Just as there are multiple banks you can choose from, there are also multiple features and rates available to you. Ultimately though, you don’t need to focus on that. It’s our job to know the options available and ensure you walk away with a brilliant financial structure that makes the most of your assets and position. The right loan isn’t about interest rates, it’s about making sure you’re set up for the next great thing you want to do.

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Living your best life

We get it. You might be buying your first home now, but it’s not your forever home and it’s not at the sacrifice of your lifestyle. You could sit on hold waiting to speak to someone sitting in a call centre overseas or you can walk into our sleek Cremorne office in Melbourne, enjoy a glass of bubbles and tell us your big plans, grand dreams, grand plan. Then we’ll go to work and make it happen for you.

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Buying in a competitive market

Get ahead of the rest

Buying your first home can be a competitive experience. Not only are you trying to understand a raft of new concepts and information – you’re competing with other first home buyers and established investors for the same properties.

Give yourself a head start by working with Entourage. We’ve assembled the perfect team to support, advise and guide you at every step of the way from putting together your savings and deposit, through to selecting the right property. Based in Melbourne and located in the Richmond and Cremorne area, we are on hand to help guide you through the process.

Our team can also put you in touch with our property advisory team, including expert first home buyers advocates.

Apply for Pre-Approval

 

First Home Buyers Grant Melbourne

When buying your first home there are a range of different incentives and grants available to you. One that has been very popular and run for a long time by the State Revenue Office is the First Home Owners Grant (also known as the First Home Buyers Grant). There is a range of qualifying criteria so it’s important you have a chat with one of our experienced mortgage brokers at our office in Cremorne first to understand what’s available to you.

Guiding you through

Frequently Asked Questions

We get asked all sorts of questions, here are some links to articles answering some that pop up often

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What deposit do I need to buy my first home?

As a first home buyer, in many cases the biggest barrier to buying is saving up the deposit. In Melbourne, the average time it takes to save a deposit based on the median house price is 5.5 years.

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What’s a Pre-Approval?

A pre-approval is a document that confirms a bank is willing to lend you the money required to complete the purchase of a property.

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What discounts are available?

In this article, we break down what’s available to Victorian First Home Buyers in terms of concessions, incentives and grants.

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When should you buy your first home?

For many first home buyers, the decision whether to save up a 20% deposit or to borrow a higher amount and pay a lower upfront cost is a tough one. Just when should you buy your first home?

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What is DTI ratio?

Simply put, the DTI refers to how much total debt you have divided by the gross income you earn per year.

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What is an ethical bank?

Ethical banking can be considered through the lens of what areas, causes and businesses banks invest in, who they lend money to and what causes they support.

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Reasons the bank might say no to your home loan application

You’ve saved your deposit, made an offer, done the paperwork, jumped through all the hoops only to be given a big fat no by the bank. Here are some of the reasons the bank might say no to your home loan application.

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How can I help my child buy a house?

If you’ve been thinking about helping your child buy their first home, you’re not alone. This might be by helping them with some money for their deposit or ongoing repayments or by acting as a guarantor.

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