Deposit and upfront costs
The deposit is one part of the budget. Allow for legal work, inspections, any transfer duty, lender charges and a buffer for moving in. Applicable concessions depend on current rules and eligibility.
First home buyers · Sydney
Your first home. A clearer first step.
There is plenty to work out before the keys. We help you understand the deposit, the loan and the steps between looking and buying.
For first home buyers working out the deposit, the loan and the next steps.
What matters
Get the foundations in place.
Lenders mortgage insurance
Lenders mortgage insurance protects the lender, not the borrower. Whether it applies and how it is charged depend on the lender, the loan and your circumstances.
Pre-approval and purchase
A conditional pre-approval can inform your search, but it is not an unconditional promise of finance. Valuation, verification and final lender assessment still matter.
Support through the paperwork
We explain the lending documents and lender requests. Your conveyancer handles legal advice on the contract, conditions and settlement obligations.
How it runs
From budget to settlement.
- 01
Set the budget
Work out the deposit, buying costs and a buffer for moving in.
- 02
Get conditional pre-approval
Understand what it covers, what it does not and when it expires.
- 03
Find and secure the property
Your conveyancer reviews the contract and any finance conditions before you commit.
- 04
Formal approval and settlement
The lender values the property and completes its assessment before settlement.
These are general steps. Lending is subject to lender criteria and individual assessment. Approval is not guaranteed.
Getting ready
A useful starting point.
You don’t need everything ready for the first conversation. These details can help make it more useful.
- Income and employment information
- Savings history and the source of your deposit
- Existing debts, credit limits and regular expenses
- Your preferred purchase timing
Discuss the secure process for providing documents with Alan. There is no document upload on this website.
Three-question check
Answer three questions and see what usually matters next.
Start the checkYour questions
Good to know.
Do I need a 20% deposit?
Not always. Deposit requirements depend on the lender, loan, property and any scheme eligibility. A smaller deposit may involve lenders mortgage insurance or other conditions. We assess the full picture before discussing suitable options.
Can I use a first home buyer scheme?
Possibly, depending on your circumstances and current rules. Eligibility must be confirmed with the scheme administrator and participating lender. This website does not confirm that you qualify.
Can I make an offer with pre-approval?
Pre-approval is conditional. Before committing, understand its limits and obtain legal advice about the contract and any finance conditions. A lender may still decline the property or final application.
Free strategy call with Alan
Your next move starts with a conversation.
15 minutes with Alan. Talk through where you are, where you want to go and what your finance needs to do along the way.