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Why get your first home loan with

Benefits include:

  • Low interest rates, saving you money
  • Award-winning home loans packed with features
  • No expensive branch network and a game- changing online model which means we can pass on ultra-low interest rates to our customers

Why get your first home loan with

At we are proud to offer one of the most competitive interest rates in Australia for customers who want to buy their very first home.

You could save thousands of dollars on your home loan and pay it off sooner by choosing


  • Simple online application process with our innovative onTrack system
  • Borrow safe in the knowledge that we are secure, powered by Firstmac, which has been in business for over 38 years

To find out how much you can borrow, just use our handy borrowing power calculator .

If you are ready to apply for a loan, you can get started now by filling out one of our easy online applications here. It only takes a few minutes.

Otherwise, keep reading to learn more about the journey to buying your first home.

The onTrack Advantage

onTrack is our innovative online portal which allows you to complete your home loan application entirely on your handheld device or computer from initial contact through to settlement and beyond.

Using onTrack means that you are able to complete your loan application in your own time. You don’t have to wait for a bank branch to open to complete your home loan!

onTrack allows you to download all required forms and documents as well as allowing you book an online appointment with one of our loan specialists at a time that suits you. You can securely submit your forms and supporting documents.

onTrack advantage

The home buying process

Buying your first home is an exciting time but it can also be daunting. There are so many different challenges to overcome including finding a home, buying and getting the best value home loan.


1. Decide what you want to buy

  • Location/Suburb of property
  • Buy a house or unit
  • Buy an existing home
  • Build a new home
  • Buy to live in
  • Buy to rent out

2. How much can you afford?

  • Buying by yourself
  • Buying with somebody else
  • Your deposit saved
  • Your income
  • Your expenses
  • Applying for First Home Owners Grant

3. Other costs to consider

  • Stamp duty
  • Lenders Mortgage insurance (LMI)
  • Property valuation
  • Conveyancing

4. Getting prequalified

  • Apply online
  • Get pre-qualified
  • Know what you can offer to purchase

5. Making an offer

  • Pre-qualifiication will help set limits
  • Subject to finance clause on a contract
  • Offer versus Auction

6. The home loan process to settlement

  • Apply
  • Speak to a specialist
  • Upload documents
  • Property valuation completed
  • Loan approved
  • Loan documents delivered and returned
  • Property settlement

7. Repaying your loan

  • Connect to online services
  • Setting up repayments
  • Your offset sub-account (if applicable)
  • Activating your visa debit card (if applicable)

To help you succeed, we have created this step by step guide of the home buying process.

1. Decide what you want to buy

Before you start searching for a home you need to narrow down your criteria. Questions include:

decide what you want to buy


Location – Where do you want to buy? Ideally you’ll want to buy in an area that suits your needs and lifestyle, close to work, public transport, schools and shops. Proximity to family is also a consideration. However, you need to make sure that your chosen area is within your price range so it is worth remembering that a first home will often be a bit further away than you would like but will set you up for a better located second home.

House or unit – What do you want to buy? Most people ultimately want to live in a free-standing house

but apartments have many advantages, especially for the first home buyer. They are significantly cheaper,low maintenance, and much less expensive to refurbish. Whichever way you jump, you will need to decide between home and apartment before you start looking.

Building a new home – Building a new home or buying an apartment off the plan is a prerequisite to qualify for the Government’s First Home Owners’ Grant. If you decide to build, you will want to consider a Construction Loan which is designed specifically for people building a home.

Buying an existing home – This considerably increases your options but means you cannot access the First Home Owners’ Grant.

To live in or rent out – Most people want to live in their first home but increasing numbers are buying a first property as an investment property, so-called “rentvesting”. When you buy to rent the tenant can help pay the mortgage until you have built up your equity. It is important remember that you cannot access the First Home Owners’ Grant if you don’t live in the property first for a specified period.

2. How much can you afford?

Before you start looking for a property you need to work out how much you can afford to pay so you don’t waste time on houses in the wrong price range. This will be determined by a number of factors.

decide what you want to buy


Buying by yourself – if you are buying by yourself the amount you can borrow will be determined by your finances alone.

Buying with somebody else – if you are buying with somebody else, be it a spouse, partner or family member, the amount you can afford to borrow will be determined by both of your finances.

Your deposit – when you come to buy a home the size of your deposit is very important for several reasons:

  • 100% loans are not available anymore. Most lenders will want you to put down at least 10% of the purchase price of the property. The rest – 90% of the purchase price of the property - can be financed using a home loan.
  • A larger deposit may mean a lower interest rate. The larger the deposit the lower the risk to lenders so they may charge you less.
  • Avoid Paying Lenders Mortgage Insurance - If you can put down a deposit of 20% or more, you can often avoid paying "Lender's Mortgage Insurance" (LMI). LMI protects the lender – not you, if you cannot repay your loan so avoid it if you can.
decide what you want to buy


Income – The size of your income has a big influence on how much you can borrow because the more you earn the more you can afford to repay. Make sure you include and document all of your sources of income when you apply for a loan including salary, rent, interest, and business income.

Expenses – Your lender will also want to know your expenses because it helps them assess how much you have left over to make loan repayments.

First Home Owners' Grant – The First Home Owners’ Grant is a one-off grant that is payable to first home buyers that satisfy all the eligibility criteria. The rules vary from state to state so to find out if you are eligible visit

3. Other costs to consider

Buying a house isn't just about paying the price of the property. There are some extra costs all buyers should be aware of.

stamp duty

Stamp duty – When you buy a property you have to pay a state tax called stamp duty within 30 days of the property settlement. Stamp duty is decided by separate state and territory governments, rather than the Federal Government, so rates vary. Some states gives special discounts for First Homeowners who meet certain criteria.


Valuation – Most lenders will require you to pay for a valuation of the property you are using as security when you apply for a loan.

Lenders Mortgage Insurance

Lenders Mortgage Insurance – Lender's Mortgage Insurance is an insurance policy that protects the lender from financial loss in the event that the borrower can’t afford to keep up their home loan repayments. Most lenders make it a condition of borrowing that you pay for a lender's mortgage insurance policy if you have less than 20% deposit.


Conveyancing – Conveyancing is the process of transferring ownership of a legal title of land (property) from one person or entity to another. When you buy a property you should appoint a conveyancer or solicitor to handle the conveyancing for you.

4. Getting pre-qualified

You can save yourself a lot of time and heartache if you pre-qualify for a loan before bidding on a home.

What is pre-qualification – Also known as conditional approval or preliminary approval, pre-qualification is an offer from us to lend you an agreed amount, subject to full approval. Prequalification remains valid for four months. To gain full approval you will need to supply more supporting documents and updated information.

Apply online – You can apply to prequalify with in just a few minutes by visiting our website.

Know what you can offer – Once you have pre-qualified you will know what you can offer a seller or what you can bid at auction. This means you can avoid wasting time looking at properties in the wrong price range and that you can bid with confidence.

Getting pre-qualified

5. Making an offer

There are two ways to buy a property in Australia. You can make an offer to purchase via a contract, or by bidding at an auction.

Making an offer


Private sale – Most residential properties in Australia are sold by making a private offer via a contract to purchase. Using this method, the owner sets the price they would like to get for their property. You put in an offer, which is usually below the asking price and negotiate as necessary with the seller from there by writing your offer on the contract and giving it to their agent. Offers pass back and forth until you and the buyer agreeo on price and terms and exchange contracts. You pay a deposit, typically 10 per cent of the selling price, and there is a cooling-off period.

The cooling-off period allows you to complete final legal, building and financial checks but if you do back out of the sale you will most likely forfeit a small part of you deposit. When you buy via a contract offer you will typically also include clauses in the contract for finance and a building-and-pest inspection. These allow you to cancel the purchase without penalty if you cannot get acceptable finance or if the building and pest report has serious faults.

Auction – A property auction is a public sale usually conducted by an agent acting as an auctioneer. It is governed by strict rules. The auction is advertised for a specific place, time and date. Prospective buyers bid and the property is offered to the highest bidder. There is an advertising campaign with open house inspections for several weeks leading up to the auction date. When a property is sold at auction, the owner sets a reserve price – the minimum for which they will sell the property – and prospective buyers make their bids, with the property going to the highest bidder over the reserve price. The most important thing to remember is that there is no cooling-off period. You will also need to provide a substantial deposit on the day of the auction if you are the winning bidder. This is usually paid by cheque.

6. Our home loan process to settlement

Now you have made an offer and had it accepted either at auction or through a private sale, this is what happens at through to settlement.

Just follow the simple steps below to lock in a home loan with a super-low rate.

Our home loan process to settlement

1. Start your application

Visit and fill out an online application. It only takes a few minutes to complete. You will then be prompted to book a quick phone appointment with one of our online loan specialists to review your application and lodge it. You will also receive login credentials for onTrack, our easy-to-use online portal. You can use onTrack on any computer or mobile device including your mobile phone.

What you do

  • Fill out an application online
  • Book an appointment with a loan specialist

What we do

  • Contact you at the requested time to discuss the information you provided

2. Speak to a specialist

Talk with one of our loan specialists. They will review your application and help you choose the most appropriate loan for your needs.

What you do

  • Be prepared with your financial information such as income and expenses
  • Book an appointment with a loan specialist

What we do

  • Verify the information you provided
  • Tailor a loan product to achieve your goals
  • Provide access to our onTrack application portal

3. Login and upload your documentation

Once you have applied, you will need to supply some supporting documents such as pay slips and bank statements. You can do this using onTrack.

What you do

  • Log in to onTrack
  • Start uploading supporting documents to your application checklist

What we do

  • Verify the information you provide
  • Contact you to assist with the application

4. Property valuation ordered

We will arrange for a property valuation to be done on the home you are buying/refinancing.

What you do

  • Nominate a time for the valuer to come
  • Attend the valuation or arrange for a contact to attend

What we do

  • Order the valuation
  • Review the valuation

5. Loan approved

If the valuation falls within the expected range and our credit assessment is positive, we will approve your loan. At this stage you will receive through onTrack:

What you do

  • Check onTrack for application status
  • Final approval letter of your loan

What we do

  • Notify you of your success

6. Loan documentation delivered

At this stage you will receive through onTrack:

  • Your Mortgage documents and Loan Agreement pack

What you do

  • Complete your loan documents and return to us
  • If applicable, provide us with your completed First Home Owner Grant (FHOG) application so we can lodge it on your behalf

What we do

  • Call you to make sure you have received the documents and everything is in order

7. Settlement

We will contact your conveyancer or solicitor to arrange settlement of the purchase.

What you do

  • Arrange necessary funds to complete the purchase to be transferred to your conveyancer
  • Notify your conveyancer that we will be your lender for settlement
  • Arrange conveyancer to contact us to book in settlement

What we do

  • If further legal documents are required for settlement we will contact your conveyancer
  • Review the valuation

7. Repaying your loan

Access your account online

Once settlement has been successfully confirmed, you will receive your login credentials for Online Services so you can manage your loan online.

What you do

  • Expect a welcome call from our Customer Care team

What we do

  • Call you to help you set up your Online Services profile


Terms Description
onTrack Our online portal which allows you to complete a home loan application entirely on your mobile device or computer from initial contact through to settlement and registration for online services.
Pre-qualify Also known as pre-approval and preliminary approval. When you pre-qualify for a home loan, a lender is agreeing to lend you a certain amount of money subject to further checks on your finances and the property’s value.
Deposit Your deposit is the amount of your own money that you are putting in to your home purchase.
Lenders Mortgage Insurance Lenders' mortgage insurance protects your lender in the unfortunate event of you defaulting on your home loan.
Conveyancer Licensed conveyancers are property law specialists who work on behalf of clients buying or selling property.
Cooling-off period This is a period after you exchange contracts where you may get out of the contract as long as you give a written notice. If you use the cooling off period, there is a fee payable. The cooling off period varies between Australian states and there is no cooling off period in Tasmania, or on properties bought at auction in other States.
Construction loan A type of loan especially designed to support people who are building their own home. With a construction loan you draw down your loan as needed to pay for construction progress payments.
Settlement Settlement is when you pay the rest of the sale price (after the deposit) and become the legal owner of the property.

About is an award-winning online lender that is proudly Australian and based in the heart of Brisbane, with offices in other capital cities.

Since we were founded in 2011, we have grown to become an industry leader with thousands of happy customers in every state and territory.

From our local call centre, our service team helps hundreds of customers around the country apply for and manage their loans, every day.

Home buyers are choosing us because we don’t have expensive bricks-and-mortar branches and we pass the savings on to them through super-low interest rates.

But we are more than just a great low rate.

We have taken the hassle out of getting a home loan by cutting through the old-fashioned processes of traditional lenders to put you in control.

With the support of our local service team you can move through your online application at your own pace and with full knowledge of what is happening at each stage.

You can borrow from loans. secure in the knowledge that we are regulated by the Australian government.

Our operations are covered by the National Credit Code which is enforced by the financial services watchdog, the Australian Securities and Investments Commission.

We are powered by the financial strength of Firstmac, which is Australia's largest non-bank lender. Firstmac has been operating successfully for 40 years and it has more than $12 billion in mortgages under management.

If you follow rugby league you may have heard of Firstmac because it is a Premier sponsor of NRL team, the Brisbane Broncos. is Australian-owned and-run, has a long track record of success, and has super-low rates that can save you thousands of dollars. That’s why we are the Home of Smart Money.


  • contact
  • Call us on 13 10 90 7am - 7pm, Monday to Friday.
    AEST Alternatively (+61 7 3017 8899)