First Home Buyers

We'll help you into your First Home

5.0

from 66 Reviews

We'll help you understand the loan types, grants and incentives to get you into your First Home

Buying Your First Home

Buying your first home is a major milestone and one of the biggest financial decisions you’ll make. For first home buyers, the process can feel overwhelming — from understanding how much you can borrow, to working out what support is available and how the banks assess your application. With the right guidance and preparation, buying your first home can be far more straightforward than it first appears.

At Finance Broker Melbourne, we help first home buyers understand the lending process, compare home loan options across multiple lenders, and prepare properly before making an offer. Our role is to simplify the journey, explain your options clearly, and help you make informed decisions so you can move forward with confidence.

Government Incentives

One of the first steps for any first home buyer is understanding what government incentives may be available. These incentives can significantly reduce upfront costs and improve your borrowing position, but eligibility rules vary depending on the property, location, price, and your personal circumstances.

Common incentives may include stamp duty concessions or exemptions, first home owner grants, and government or family guarantee schemes that reduce the deposit required. Rather than applying for a loan first and discovering these later, it’s important to research and factor incentives in early. We help first home buyers identify which incentives may apply and ensure they are considered as part of the overall purchase strategy.

Deposit Required

Understanding how much deposit you need goes beyond simply saving a percentage of the purchase price. A proper funding table should outline all costs associated with buying your first home, including the deposit, stamp duty, legal fees, inspections, and any other purchase-related expenses.

This is also where grants, concessions, and guarantees are factored in to show your true cash requirement. Lending ratios such as loan-to-value ratios (LVRs) play a key role in determining whether lenders mortgage insurance applies and what loan options are available. By mapping this out clearly, first home buyers can see exactly where they stand before committing to a purchase.

Serviceability

Serviceability is how lenders assess whether you can afford the loan. This involves analysing your income, living expenses, existing liabilities, and overall financial position. Even with a strong deposit, a loan must still be affordable under the lender’s assessment criteria.

Different lenders assess income and expenses differently, which can lead to very different borrowing outcomes. For first home buyers, understanding how affordability is calculated helps set realistic expectations and avoids surprises later. We assess your position across multiple lenders to determine a comfortable and achievable borrowing range.

Using a Broker

Using a broker allows first home buyers to access loan options from a wide range of banks and lenders, rather than dealing with just one institution. A broker compares products, explains features in plain language, and manages the application process from start to finish.

For standard home loans, our service is provided at no cost to you. We help structure your loan correctly from day one, ensure incentives are applied correctly, and coordinate with lenders, solicitors, and other parties to keep the process moving smoothly.

Next Step – Get Started

If you’re considering buying your first home, the best next step is to have a conversation before you start making offers. An early review can clarify your borrowing capacity, funding position, and available incentives.

Contact Brendon Cowan at Finance Broker Melbourne today to discuss your home loan options.

Let us help you get into your first home

With over 25 years’ experience, Brendon helps first home buyers understand what’s possible and what to do next. From deposits and government grants to borrowing power and choosing the right loan, everything is explained in plain English — no bank jargon.

Ready to get started? Book an appointment or give Brendon a call and take the first step toward your new home.

Book Appointment

The Home Loans application process

Initial Consultation

We begin with a comprehensive discussion about your financial goals and current situation. During this meeting, we'll assess your borrowing capacity, understand your specific needs, and identify the most suitable loan products for your circumstances. This consultation can take place at our Ormond office or at a location convenient to you.

Financial Assessment

Our team conducts a thorough review of your financial position, including income verification, asset evaluation, and credit history analysis. We work closely with you to gather all necessary documentation, ensuring we present the strongest possible application to lenders. This step is crucial for securing competitive rates and favourable terms.

Loan Structure Design

Based on your assessment, we design a tailored loan structure that aligns with your financial strategy. Whether you're seeking investment property finance, commercial lending, or sophisticated residential solutions, we craft proposals that maximise tax efficiency and support your long-term wealth creation goals.

Lender Comparison and Selection

We leverage our extensive network of premium lenders to compare options across major banks, specialist lenders, and private financiers. Our analysis goes beyond interest rates, examining loan features, flexibility, and serviceability criteria to identify the optimal match for your profile.

Pre-approval Submission

Once we've selected the most suitable lender, we prepare and submit your pre-approval application. Our established relationships with key decision-makers often expedite this process, providing you with conditional approval typically within 24-48 hours for straightforward applications.

Formal Application and Documentation

Following pre-approval, we progress to the formal application stage. We coordinate all required documentation, liaise with valuers and solicitors, and manage the entire process to ensure smooth progression toward settlement. Regular updates keep you informed at every milestone.

Settlement and Ongoing Support

We oversee the final settlement process, ensuring all conditions are met and funds are released on schedule. Our relationship doesn't end at settlement - we provide ongoing portfolio reviews, refinancing assessments, and strategic advice to help you maximise your financial position over time.

Our Recent Reviews

Brendon Cowan and his team were awesome couldn’t be happier with their work to get me my first house, always kept me positive, kept me up to date and answered any of my concerns...Thank you mate 👍🏻 ...

Zane Youngman

My wife and I worked with Brendon at Finance Broker Melbourne (FBM) to get pre-approval and financing for our first home in Seaford, and we had a great experience! As first home buyers, we weren’t sure exactly how everything worked, but Brendon made the whole process much easier to understand. He explained things clearly, talked us through our options, and was always happy to answer our questions at any time. He was easy to communicate with and kept us updated along the way. He helped us secure a loan that suited our situation and made sure everything stayed on track through to approval. It took a lot of stress out of what could have been a pretty overwhelming process. We’re really grateful for his help and would definitely recommend Brendon and Finance Broker Melbourne to anyone looking for a mortgage broker, especially if you’re buying your first home. Thanks again!

T J

Brendon assisted me with the purchase of my first home in December 2025. What could ordinarily become a confusing and stressful process was made seamless thanks to Brendon’s expertise, availability and excellent customer service. Thanks to ...

Hollie Cassini

I was EXTREMELY happy with the advise, professionalism & honesty whilst dealing with Brendon at FBM. ...

Sarah-Jane Dooley

My husband and l were having issues in obtaining a home loan with the bank we had been with for over 20 years. We approached Brendon Cowan at Finance Broker Melbourne PL who looked at our application. Brendon Cowan advised us on exactly ...

Natarsha Mcgrady

Brendon and his team are so professional. He went above and beyond to help us secure excellent deals with our two property loans. He is highly experienced, a great communicator with a wealth of knowledgeable and even when something goes ...

Melbourne Girl

Frequently Asked Questions

What does a mortgage broker actually do?

A mortgage broker helps you compare loan options from different banks and lenders, assess your borrowing position, and manage the loan application process from start to finish. At Finance Broker Melbourne, we take the time to understand your income, deposit, existing debts, property goals and overall financial position before recommending suitable finance options. We can assist with home loans, refinancing, investment loans, business finance and more complex lending structures. Our role is to help make the process clearer, prepare your application properly, liaise with lenders, and keep you informed through each stage, from the first conversation through to loan approval and settlement.

Why use Finance Broker Melbourne instead of going directly to a bank?

When you go directly to a bank, you are generally limited to that bank’s own loan products, policies and pricing. As mortgage brokers, we can compare options from a range of banks and lenders, then help identify which lender may suit your circumstances, goals and borrowing position. This can be especially useful if you are self-employed, buying an investment property, refinancing, borrowing through a company or trust, or trying to structure your loan carefully. At Finance Broker Melbourne, we also manage the application process, communicate with the lender, and help you understand the key costs, loan features and approval requirements before you proceed.

Do you only help clients in Ormond, Glen Eira and Bayside?

No. Finance Broker Melbourne is based in Ormond, Victoria, and we have built a strong client base across Glen Eira, Bayside and nearby suburbs including Bentleigh, McKinnon, Brighton and surrounding areas. However, we also assist clients throughout Melbourne, regional Victoria and across Australia. Many clients choose to work with us by phone, email, video meeting and electronic signing, which means the process can be handled efficiently without needing to visit our office in person. Whether you are local to Ormond or based interstate, we can help review your borrowing position, compare finance options and guide you through the lending process.

What types of clients do you usually work with?

We work with a broad range of clients, including first home buyers, upgraders, investors, business owners, self-employed borrowers, company borrowers and trust borrowers. Some clients have straightforward home loan needs, while others require more detailed lending advice due to business income, multiple properties, complex structures or future investment plans. At Finance Broker Melbourne, our team has experience across home loans, investment loans, refinancing, business finance and SMSF lending. Our approach is to understand your circumstances first, then help identify suitable finance options based on your income, borrowing capacity, security position, goals and preferred loan structure.

Do you provide finance for business and commercial customers?

Yes. Finance Broker Melbourne can assist business and commercial customers, particularly where the finance requirement is over $1 million. Brendon Cowan has years of experience working within major banks and assisting clients with business acquisitions, business expansion, commercial property transactions and more complex lending structures. Business and commercial lending often requires a more detailed assessment of income, security, business structure, financial position and lender appetite. While we can assist with commercial finance, we generally work with business and commercial customers seeking larger lending amounts, and fees may apply for business and commercial lending. Where appropriate, we will explain this clearly before proceeding.

What information should I prepare before contacting Finance Broker Melbourne?

Before your initial consultation with Finance Broker Melbourne, gather basic information about your business including recent financial performance, current debt obligations, and the purpose of the finance you're seeking. Having your latest financial statements, tax returns, and recent bank statements readily available helps us assess your position quickly. Consider the amount of finance required, preferred repayment terms, and any security you can offer. For asset purchases, preliminary details about the equipment or property are useful. Understanding your business goals and how the proposed finance supports these objectives helps us identify the most appropriate solutions. Don't worry if you don't have everything immediately available - we can guide you through the documentation process. The initial consultation focuses on understanding your requirements and providing preliminary advice about suitable options. We then provide a detailed list of required documentation and work with you to prepare a comprehensive application that presents your business proposition effectively to potential lenders.

Do you charge fees for your service?

For most standard residential home loans, Finance Broker Melbourne is generally paid by the lender after settlement, meaning our service is usually provided at no direct cost to the borrower. This can include home loans, refinancing and many investment loan applications. However, some lending scenarios require additional work, specialist structuring or commercial lender negotiations. Fees may apply for business finance, commercial lending, complex structures or larger transactions, particularly where the application requires detailed analysis, lender presentations or negotiation. If a fee applies, we will explain this clearly before you proceed, so you understand the cost, the scope of work and what is included.

How early should I speak to a mortgage broker before buying or refinancing?

It is usually best to speak with a mortgage broker as early as possible, even if you are not ready to apply straight away. Early advice can help you understand your borrowing capacity, deposit requirements, loan options, expected costs and any issues that may need to be addressed before applying. This is especially important if you are buying a property, refinancing, changing jobs, self-employed, purchasing through a company or trust, or planning an investment strategy. At Finance Broker Melbourne, we can help you prepare early, understand your position clearly, and move forward with more confidence when the right opportunity arises.