Download - Cashbox First Home Buyers Guide
Cashbox
Buying your first home doesn’t have to be complicated.
We’ll take the unnecessary hassle out of choosing the correct loan
for your situation and deal with your application quickly and efficiently.
So buying your first home is what it should be – exciting.
Talk to a Cashbox Finance Home Loan Expert today.
First Home Buyers Guide
[email protected] www.cashboxfinance.com.au
9349 1445
FINANCEt h e o p t i o n s a r e a l l y o u r s
HOW DO I GET APPROVAL?
HOW MUCH WILL I NEED?
Deposit: Usually a minimum of 5% of the purchase price. In some
circumstances you may be able to borrow 97% of the purchase price.
Family Guarantee: If you do not have a deposit, you may be able to
use a guarantee from a family member as equity to assist you with
your purchase. This is supported by a mortgage over their property.
Deposit Protect Bond: This is an alternative to paying a cash
deposit on your new property and delays the requirement to pay the
deposit until the property at settlement. If you are receiving a
government subsidy, this is perfect to cover you until they come
through at settlement.
HOW MUCH CAN I BORROW?
Calculators: There are many online calculators that can quickly
figure out how much you can borrow. A Cashbox Finance expert is
more than willing to help you establish an achievable loan amount
you can borrow.
Stamp Duty: Stamp Duty is a government tax payable by the buyer
when they purchase a property. Most states and territories offer
Stamp Duty concessions to first home buyer purchases. You can visit
www.firsthome.gov.au to see if you are eligible.
FIRST HOME OWNERS GRANT
Federal and State Governments provide you with a one off payment
to help you buy your first home.
[email protected] www.cashboxfinance.com.au
HOW DO I GET APPROVAL?
HOW DO I QUALIFY:
[1]. You must be an Australian citizen or a permanent resident
[2]. You must be at least 18 years old
[3]. Your house must be your principle place of residence for a
continuous period of 6 months within the first year of ownership
[4]. You must be buying or building your own home
[5]. The house must be in the same state or territory in which the
application is made
[6]. You have never owned a property or received the grant
before. This includes your spouse or de facto if oyu are co-owners
A Cashbox Finance expert can help you to apply for the First Home
Owners Grant or you can apply through a solicitor. Cashbox Finance
can arrange a solicitor for you through our partner law firm.
THE RIGHT LOAN FOR YOU - HOW TO CHOOSE
This is what a Cashbox Finance expert does best. We start by
assessing your every need to establish what type of loan will suit
your lifestyle and expectations, both now and into the future.
Cashbox Finance can offer you;
- Expert advice on how to access the range of products on the market
- Looking for certainty in your repayments? Cashbox Finance can
offer you a competitive fixed rate loan
- Looking for flexibility and options? Cashbox Finance can offer you a
competitive variable rate and a range of flexible features (basic
variable loan, split loan)
By structuring your loan with flexible features it gives you a range of
options, from extra repayments to reducing payments when
circumstances change. Cashbox Finance has the complete range of
loan to access.
[email protected] www.cashboxfinance.com.au
Redraw
Extra Repayments
100% Offset
Top - Up
Reduced Payments
Portability
Interest Only
Construction
As many as you like to reduce interest payments
Use the balance in your transaction account to
reduce the balance in your loan where home loan
interest is calculated
Access extra money built up in oyur home loan
Increase the limit on an existing home loan
Pay interest repayments only for up to 10 years
Allows progress payments to builders
Take your loan with you when you move to
another property
Repayments reduced by up to 50% for as long as
6 months
Parental Leave
Repayment Holiday
SmartPay
If you build up extra funds in oyur home loan, you
can stop making repayments for a while
Repayments reduced by up to 50% for as long as
6 months
Lets you deposit all your income into your loan account
Self Employed? You don’t need a standard income
verification document to apply
[email protected] www.cashboxfinance.com.au
HOME LOAN FEATURES
FEATURES
Low Doc
[email protected] www.cashboxfinance.com.au
LOAN CHARACTERISTICS
Variable Rate
Loans
Fixed Rate
Loans
Flexibility
Offset
RedrawTop-Up
Parental
Leave
Portability
Bridging
Loan
Security
Equity
Access
Low
Doc
Family
Guarantee
Split
Loan
Package
Benefits
Pre-
Approval
Costs
LMICosts
DepositFHB
Grant
APPROVAL / SETTLEMENT
FORMAL APPROVAL
Once you find your property you will need to obtain formal approval
for your loan. Cashbox finance will work along side you to provide
the evidence of the details you produced in the pre-approval phase.
When you provide a copy of the sale contract, the lender will
undertake a valuation to ensure the acceptability of the property as
security against the loan. This is completed within your cooling-off
period and will allow the lender to provide you with unconditional
approval.
INSURANCE
Cashbox Finance recommends that you consider taking insurance
cover during your formal approval.
SETTLEMENT
Settlement includes a process where titles are exchanged between
the buyer and the seller. At this stage the lender will register a
mortgage over your property.
Depending on which state or territory you live, Cashbox Finance will
recommend enlisting the services of a solicitor, conveyancer or
settlement agent to guide you through the formal settlement process.
Cashbox Finance can refer you to our partnered professionals to help
you with this part of the process. Please ask one of our experts.
TRACKING YOUR APPLICATION
Cashbox Finance experts will work with you every step of the way
through this process and keep you fully updated during each and
every stage.
[email protected] www.cashboxfinance.com.au