mason finance staff at client appreciation night

Mortgage broker for first home buyers

Buying your first home is an exciting time - but it can also be complicated - our job is to make it easy for you.

Getting into the property market is one of the biggest financial decisions you'll make. From confusing contracts and jargon filled paperwork to inspections and ultimately, sealing the deal – we’re here to give it to you straight. 

Like the homes on your wishlist, no two loans are the same. Step by step, we’ll help you make sense of the nonsense, and work with over 60 banks and lenders to find the loan most suited to your first home.

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The loan process

From a quick chat to settlement, these are the steps to owning your first home.

  1. Say hello
    It all starts with taking about one minute to answer a few simple questions right here. When you’re done, we’ll meet to talk about your goals, opportunities and next steps, in person or online.
  2. Get those goals
    Once we know what you need, we’ll research 60 banks and lenders to provide you with loan recommendations best suited to your needs.
  3. The nitty gritty
    Found your lender? Well sit back. We’ll do the paperwork and package, sign and lodge your documents to get you primed and ready for pre-approval.
  4. So… How much can you borrow?
    If your pre-approval gets the tick, your borrowing power will be revealed. This amount is valid for three months and gives you a clear idea of what you can spend. Let the house hunting begin!
  5. Seal the deal
    After all the ups and downs of the home buying hunt, you’ve found a home and made an offer. While you pop the champagne, we’ll keep track of your application to ensure it all runs smoothly.
  6. Settlement - your big day!
    Get excited, it’s time for settlement. Sit back and enjoy the moment, we’ll let you know when everything is finalised and your lender has released the funds.

Loan types and features

There are a number of loan types available to you; variable rates, fixed rates, guarantor loans and more, scroll through some of the options to get a better understanding of what the differences are. We’re here to answer your questions when you’re ready.

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Variable rate loan

As the name suggests, the interest rate can change over the life of the loan. This gives you flexibility, but can also leave you open to rate rises. These loans offer more flexible features like unlimited additional repayments, redraw, and offset accounts.

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Fixed rate loan

Basically, this is the opposite of a variable rate loan. Your interest rate and repayments will stay the same during the fixed term, no matter what. So no surprises.

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Split loan

You’re able to fix part of your loan, while leaving the rest variable.

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Packaged loan

Professional packages offer discounts on standard variable and fixed rates, the waiving of fees, and in some cases, great deals on other products from the same lender. A packaged loan usually comes with one annual fee for the bundled products.

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Introductory rate loan

Also known as ‘honeymoon’ loans, these offer a low interest rate for a short period (eg. a year), after which the rate moves to the standard variable rate.

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Interest only loans

As the name suggests, you only pay the interest on the principal balance for a set term, with the principal balance unchanged.

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Guarantor Home Loans

A guarantor uses the equity they’ve built up in an existing property to help you purchase your property sooner. Guarantors could be your parents, parent-in-law or a step parent or grandparents.

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In the realm of financial empowerment and planning, knowledge is your greatest ally. Use these calculators to get an idea of how much you can borrow and how much your repayments might be.

FAQs for first home buyers

We’ve got your questions covered.


How much deposit do I need to purchase a property?

Typically lenders ask for 20% of the total house price before they’ll consider giving you a loan but there are a number of ways around this. Some lenders will accept a smaller deposit but it’s likely that you’ll need to pay Lenders Mortgage Insurance (LMI).  There might also be grants that you can take advantage of. Get in touch to chat about your options.

Can you help me understand my borrowing capacity?

Of course! Borrowing capacity refers to how much you can borrow from a lender. To get an estimate of your borrowing capacity go to our calculator: How much can I borrow? If you want to get an in depth review of your borrowing capacity, get in touch today.

How will you decide which loan is best suited to my circumstances?

With over 60 lenders, you and I are spoiled for choice. I narrow my search down through talking to you about your wants and needs. I will show you your options, listing the pros and cons of each loan and ultimately we will come to a decision together.


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