Which Home Loan Is Right For Me?

Ready to stop paying off your landlord's mortgage and start paying off your own?

With so many different loan products on the market, finding a home loan is not as simple as it used to be. There are a range of options available to you that may save you money, provide you with greater flexibility and peace of mind.

Bayside Financial Brokers consultants use their expertise and experience in the home loan market to compare many loans for you. Our consultants will then be able to provide you with a loan which is both competitive and suitable - simplifying the loan selection process.

As a first homebuyer, the Government wants to help you get your foot through your own front door.

The government's boost to your first home deposit

The Federal Government will add extra dollars to your savings when you set up a first home saver account. Every year it will contribute 17% of whatever you put in - up to $850, and give you a tax break on the interest.

First Home Owners Grant - FHOG

The Federal Government introduced the FHOG in 2000 to assist First Home Buyers meet the cost of buying or building their first homes. It is a non means-tested grant of $7,000 that can even be used to form part of the deposit on your first home purchase for an existing dwelling, and $14,000 for new build.

First Home Bonus

1 July 2009 to 30 June 2010 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $2,000 (for established homes) or $11,000 (for new homes only), known as the First Home Bonus (the Bonus).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.

Regional Bonus

1 July 2009 to 30 June 2010 (contract Date)
For contracts entered into for the purchase or construction of a new home in a regionak municipality in Victoria, an additional $4500 regional bonus is also available (in addition to the $11,000 bonus).

First Home Owner Boost

The First Home Owner Boost, which was launched by the Australian Government, supplements the Victorian Government funded First Home Owner Grant of $7000. The Boost provides:

14 October 2008 to 30 September 2009 (contract date)

• an extra $7000 to first home buyers who purchase an established home; and
• an extra $14,000 to first home buyers who build a new home or purchase a newly constructed home.

1 October 2009 to 31 December 2009 (contract date)

• an extra $3500 to first home buyers who purchase an established home; and
• an extra $7000 to first home buyers who build a new home or purchase a newly constructed home.