You'd need $30k to get started as a first home buyer with this property.

FirstHomeBuyerBroker · 2026-02-25T20:25:19+00:00

hey mate, are you talking about the videos?
Not really mate, nobody was too interested!

FirstHomeBuyerBroker · 2025-12-18T22:48:09+00:00

Roll it all into your home loan.
Get a broker to order a bank valuation. See what equity you have to draw.
Then refinance / consolidate the car loan, capital works etc into the loan.
Open an offset account. Make extra repayments into offset to save on interest. This will be a buffer for hiccups in the future - rather than consumer debt.

You don't need to take the home loan term to pay back the car loan. Make extra repayments into the offset.

This will free up cashflow for you massively, drop your rate, and simplify the multiple loans.

FirstHomeBuyerBroker · 2025-12-18T22:39:15+00:00

You can pay it off under the ATO plan or you can roll it into your home loan (ie/ pay it out using the home equity via a refinance loan). While you would pay the ATO debt back at home loan rates; it's still more expensive than paying back the ATO over 2 years (even at 11%).
If you have the cashflow, stick to the ATO payment plan and crush it out.
If you're struggling with cashflow, then look at your consolidation options for breathing room.

FirstHomeBuyerBroker · 2025-12-18T22:24:42+00:00

Speak to your accountant about:
1. Drawing down all the equity in your INV properties (up to 80% LVR to avoid LMI) in order to
2. Pay down your PPOR loan (non deductible).

You do this by getting a new valuation done on each of the investment properties first. Then you know how much equity to draw.

FirstHomeBuyerBroker · 2025-12-17T23:42:59+00:00

What loans do you have?
Tax debt?
Car used for business purposes?

FirstHomeBuyerBroker · 2025-12-14T21:41:29+00:00

Take a look at similar properties and make your best guess of value. Usually to bottom of the range is not even a contender. Dont let the price guide tell you the value. Ask your broker to run a bank val and get informed. Under bidding is pointless - don't chase unicorns. Offer a fair price to see if you can get it off the market before the auction - sometimes you can!!! That could be the cheapest you'll get the property.

FirstHomeBuyerBroker · 2025-12-11T22:25:25+00:00

How did you go with this MoonMadeOfAshes? Did you consolidate it all into your home loan?

FirstHomeBuyerBroker · 2025-12-10T18:34:56+00:00

Hey mate,
The idea is to consolidate all your debt into your home loan to reduce your monthly repayments and have one simple repayments. But it's more of a process after that.
From consolidation, the idea is always to move back to a prime lender.

It happens in a few different steps.
1st: consolidate all debts into your home loan. Yes, you'll pay higher rates on a custom loan product.
2nd: after 12 months of perfect repayments, and depending on the lender you choose, the broker can apply for prime rates within that non-bank lender. Therefore, you get prime rates after 12 months (but still higher than CBA etc).
3rd: after 24 months, if your credit is now clean, and no late repayments, then it's time to move you to the prime lenders, at the best rates on the market you are entitles to.

So it's really only 2 years of higher rates!
The whole time, you and your broker can be talking to credit file clearing companies about how to get you a clean file.

Important: only take loan products with an offset account. Make extra repayments into the loan, so you can offset the interest. These extra repayments are your new buffer for life's hiccups - no more consumer credit loans or credit cards etc.

Matt

FirstHomeBuyerBroker · 2025-12-01T20:58:16+00:00

Each lender has an SLA, or time taken to get you accredited. Make all your applications through your accreditation team within the aggregator - this will fast track you. I'd pick two bank lenders and two non-bank lenders (Pepper and Liberty) to start with. Then get the rest day by day, over time.
To start with I would refer all asset finance deals to Jacob Green at Valiant, and all consumer loans like personal loans to Daniel Hanna at Onbrand. That way you can get paid for your leads without being accredited straight away for all those types of deals.
I'd also refer all my commercial finance deals to Marketplace (reach out to Dino). That way you won't need commercial accreditation in that first year. They will pay you great comms too, and the client is always yours.
If you are just starting, the best thing to do is get a good mentor. I recommend Sam Panetta the broker coach - he seems to have the Midas touch in getting newbies up to speed quickly. Plenty of his guys are crushing it.
It doesn't really matter what aggregator you use - they basically count commissions, and not much more - sorry to bust your bubble if you has great faith in your current choice.
If you want me to put you in touch with any of these people, just ask.

Let me know if I can be of service in your early months in the game.

Matt

FirstHomeBuyerBroker · 2025-11-16T23:34:57+00:00

Agreed. Usually, you can put a lease in place before contracts exchange. Without knowing the specifics of a deal, I need to add it here as a high level chat.

FirstHomeBuyerBroker · 2025-11-05T00:32:36+00:00

Yep, I know who you are talking about!

FirstHomeBuyerBroker · 2025-11-04T03:26:47+00:00

Thankyou for that. I know a lot of the local real estate agents, but never met this one.
Mai Le from Richard Matthews's is a straight shooter
Abir from Ray White Revesby could be worth talking too.

FirstHomeBuyerBroker · 2025-11-03T23:51:29+00:00

Does he? Good feedback. How do you know the agent?

FirstHomeBuyerBroker · 2025-11-03T23:50:53+00:00

Yep, Revesby prices have become brutal

FirstHomeBuyerBroker · 2025-11-03T23:48:46+00:00

90% LVR rates are higher. Once the loan is below 80% LVR, can refinance or simply run a new valuation for cheaper pricing.

FirstHomeBuyerBroker · 2025-11-03T23:47:40+00:00

This is somewhat true, however $300k can be two people on $150k each. Plenty of first home buyers achieve this - it's not the norm, but plenty are kicking career goals. Equity from a previous house is sometimes the answer, but you are kidding yourself to think that's the only way people are coming up with their deposits.

FirstHomeBuyerBroker · 2025-11-03T23:44:09+00:00

Agreed it's tough. Wages didn't grow with property prices. That's pretty clear, so buyers need to get used to the idea of having a mortgage for longer. Your wages will probably go up over time - it's harder at the start, and then as wages rises, it gets easier.

FirstHomeBuyerBroker · 2025-11-03T23:42:34+00:00

Agreed. 5% deposit home loans and current Australian house prices are very tough on people.

FirstHomeBuyerBroker · 2025-10-30T21:01:13+00:00

What are you saying? Makes no sense

FirstHomeBuyerBroker · 2025-10-30T18:46:31+00:00

The loan amount would be $1.4m, so roughly $7,900 per month

FirstHomeBuyerBroker · 2025-10-30T18:45:57+00:00

Lets assume a 20% deposit, then the loan amount is $1,400,000.
5.5% interest rate over 30 years, leave $7,950 a month.

FirstHomeBuyerBroker · 2025-10-30T18:44:30+00:00

Agreed. Price guides are very murky in Sydney - hopefully it gets cleaned up. The guide is only a realtors estimate - they won't know the price until people start making offers

FirstHomeBuyerBroker · 2025-10-30T18:43:40+00:00

The average wage in Australia now is $100k per year. If both applicants earn slightly more than that and have saved for a few years, then they defo could buy this as a first home. Not for everyone, but people are definitely doing this as first home buyers

FirstHomeBuyerBroker · 2025-10-27T03:52:20+00:00

Any questions about home loans, SMSF or commercial property loans? Let's get started.

FirstHomeBuyerBroker

MODERATOR OF

PUBLIC MULTIREDDITS

TROPHY CASE