For many Australians, buying a first home is one of the most exciting milestones in life. It’s also one of the most confusing.
Between deposit requirements, borrowing capacity, government incentives, and the approval process, it can feel difficult to know where to begin. One of the most common things we hear from first home buyers is:
“I just don’t know if I’m ready yet.”
The truth is, readiness isn’t about having all the answers. It’s about understanding what lenders actually look for and knowing the steps involved.
The Four Things Lenders Assess
When a bank reviews a home loan application, it isn’t based on guesswork. Most lenders assess four key areas:
1. Income
Lenders want to see stable and reliable income. This includes salary, consistent overtime or bonuses, and how long you’ve been in your current role.
2. Expenses
Your spending habits matter. Credit cards, personal loans, and buy now pay later accounts can all impact borrowing capacity.
3. Deposit
Many buyers still believe they need a 20% deposit. While this can help avoid lenders mortgage insurance, there are options available with smaller deposits depending on your situation and eligibility for government schemes.
4. Credit History
Your credit file gives lenders insight into how you manage debt and repayments.
Understanding these areas early can make a significant difference to your home buying journey.
The Biggest Mistake First Home Buyers Make
The most common mistake we see is waiting too long to ask questions.
Many buyers think they should only speak to a broker once they’re ready to apply. In reality, having a conversation earlier can help you identify what preparation might improve your borrowing position.
Sometimes small changes to spending, savings strategies, or loan structure can make a meaningful difference.
A Free Workshop for First Home Buyers
To help simplify the process, we’re hosting a free online workshop designed specifically for first home buyers.
Buying Your First Home: Understanding the Path to Home Loan Approval
During the session we’ll cover:
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What lenders actually assess when reviewing an application
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How deposits really work
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Government incentives available across Australia
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The difference between pre-approval and formal approval
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The key steps from saving to settlement
📅 Date: 18 March 2026
⏰ Time: 5:30pm AEST
📍 Location: Online via Zoom
💻 Replay available for registered attendees
If buying your first home is something you’re considering in the next 12–24 months, this session will help you better understand the process and what to focus on next.
👉 Register for the free workshop here.