First Home Buyers
Buying your first home is one of life’s most significant milestones. It is an exciting time, but it can also feel overwhelming with talk of stamp duty, deposits, and eligibility criteria. At Classic Loans, we specialize in helping first-time buyers with confidence.
Founded by Preetinder Singh, our goal is to move you from “searching” to “settled” by maximizing your benefits and securing a loan that fits your financial future.
Government Grants & Benefits (2026 Update)
The Australian and Victorian governments offer several initiatives to help you get into your home sooner with a smaller deposit or reduced taxes. We help you check your eligibility for:
- First Home Owner Grant (FHOG)
- What it is:A $10,000 payment for buyers of new homes.
- The Details:This applies to the purchase or construction of a newly built home valued at up to $750,000. The property must not have been previously occupied as a residence.
- Stamp Duty Exemptions & Concessions
Land transfer duty (stamp duty) can be a significant upfront cost. In Victoria:
- Full Exemption:Pay zero stamp duty on homes (new or established) valued up to $600,000.
- Concession:Enjoy a sliding-scale discount for homes valued between $600,001 and $750,000.
- The Home Guarantee Scheme (HGS)
Through Housing Australia, eligible buyers can purchase a home with a deposit as low as 5% (or 2% for single parents) without paying Lenders Mortgage Insurance (LMI). The government guarantees the remaining portion of the deposit, saving you thousands.
- Victorian Homebuyer Fund
A shared equity scheme where the Victorian Government contributes up to 25% of the purchase price in exchange for an equivalent share in the property. This significantly reduces your mortgage and deposit requirements.
Loans
Contact Us
0451 269 825
preet@classicloans.com.au
Clyde, Victoria ( 3978), Australia
How Classic Loans Supports You
We do more than just find a rate; we provide a complete roadmap for first-home success:
- Borrowing Power Assessment
We help you understand exactly what you can afford before you start attending open houses.
- Pre-Approval
We secure a formal pre-approval from a lender, giving you the “green light” to make a confident offer or bid at auction.
- Paperwork Management
From the First Home Owner Grant application to the final loan documents, we handle the administrative heavy lifting.
The First Steps to Homeownership
Property Valuation
We arrange a professional valuation to determine exactly how much your home is worth in today’s market.
Usable Equity Calculation
Lenders typically allow you to borrow up to 80% of your home's value (minus your current debt) without incurring Lenders Mortgage Insurance (LMI).
Lender Comparison
We scan our panel of lenders to find the one offering the best "Top-up" rates and features, such as offset accounts.
Fast Approval
We handle the paperwork to ensure you get access to your funds as quickly as possible.