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Before you buy

Budget and save

Your deposit is one of the biggest factors in determining your borrowing power. Setting a budget in order to save as much deposit as possible will reduce the amount you need to borrow.

Get advice

Talk to a mortgage broker or credit professional who will explain the home buying process, including aspects you may not be aware of. They’ll provide their opinion on your current situation and advise you about the costs of borrowing (such as Lenders Mortgage Insurance (LMI) and stamp duty). They’ll also let you know how much you can borrow and advise you about suitable loan products. Once you’re comfortable you’ve found the right loan, your mortgage broker or credit professional can get the application process started with you.

Do your research

Find out if you qualify for any first home buyer benefits, and how much you’re entitled to, on the Federal Government’s first home buyer website. Also make sure you know what other fees are payable when purchasing a property including stamp duty, solicitor’s fees etc.

Set a price before looking

Work out the amount from each pay you can set aside for repayments . Your mortgage broker or credit professional will help you get to a figure you’re comfortable with.

Start looking for your new home!

Call us

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.
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