How Much Can You Borrow for a Home Loan in Australia?

In this post, we’ll explore the key differences between buying an apartment vs house as an investment, helping you make an informed decision that suits your needs.

This article will tell you why choose mortgage broker for home loan that could be one of the best financial moves you make when refinancing. Let’s dive in.

Commercial real estate can be a great investment, but let’s face it—the price tag can be a deal-breaker. That’s where commercial property syndication comes in.

Saving for a first home isn’t easy, but the Australian government’s First Home Owner Grant (FHOG) can give eligible buyers a head start. This one-off payment helps with the cost of buying or building a new home, though the amount and eligibility rules vary by state. Knowing how it works could make a real difference to your budget. In this guide, we’ll break down how the grant works, who can apply and how to make the most of it. Let’s get started. What Is the First Home Owner Grant (FHOG)? The First Home Owner Grant (FHOG) is a government initiative that gives first-time buyers a one-off payment to help with the cost of buying or building a new home. It’s designed to make homeownership more achievable, but the amount you can get and the rules around it depend on where you live. Each state and territory sets its own eligibility criteria, including price caps on properties, the type of home you can buy and whether you need to live in it for a certain period. Some states offer extra incentives on top of the grant, like stamp duty concessions, so it’s worth checking what’s available in your area. If you’re a first-time buyer, this grant could be a handy boost to your deposit or upfront costs. Just make sure you understand the requirements before applying to avoid any surprises. Who Is Eligible for the First Home Owner Grant? Eligibility requirements generally include: You must be purchasing or building a new home, not an existing property. You must be an Australian citizen or permanent resident. You must be at least 18 years old. You (or your partner) must not have previously owned property in Australia. You must live in the home as your principal place of residence for a set period (usually 6-12 months). How to Apply Applying for the First Home Owner Grant typically involves the following steps: Check your eligibility – Visit your state or territory’s revenue office website. Complete the application form – This can usually be done through your lender or directly with your state’s revenue office. Provide supporting documents – Proof of identity, contract of sale and proof of residency may be required. Wait for approval – Processing times vary, but grants are usually paid at settlement or upon completion of construction. Other First Home Buyer Assistance In addition to the FHOG, first home buyers may be eligible for other incentives, such as: Stamp duty concessions – Some states offer reduced or waived stamp duty for first home buyers. First Home Super Saver Scheme (FHSSS) – Allows you to use voluntary superannuation contributions to help save for a deposit. First Home Guarantee (FHG) – A scheme that enables first home buyers to purchase a property with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Get Expert Guidance Navigating the first home buying process can be complex, but you don’t have to do it alone. At ALCHEMYFIN , our expert mortgage brokers can guide you through the process, helping you access grants and secure the best home loan for your needs. Get in touch with us today to start your journey to homeownership!

In this post, we’ll explore the key factors you should consider when deciding between renting and buying a home in Australia.

Investing in property is a proven strategy for building long-term wealth in Australia. Whether you're a first-time investor or looking to expand your property portfolio, getting the right advice and support is crucial. At ALCHEMYFIN , we provide expert mortgage services to help you navigate the complexities of property investment. Here’s a step-by-step guide on how to start your property investment journey with confidence. Assess Your Financial Position Before you dive into property investment, it's essential to understand your current financial situation. This includes reviewing your savings, income, expenses and any existing debts. Knowing your financial standing will help you determine your borrowing capacity and identify how much you can comfortably invest. We offer tailored mortgage solutions to help you assess your financial readiness and ensure you're in a strong position to begin investing. Set Clear Investment Goals Property investment is a long-term strategy, so it’s important to set clear goals. Are you aiming for capital growth, steady rental income or perhaps both? Setting specific, measurable goals will guide you in selecting the right type of property and investment strategy. Whether you're looking for growth in the value of your property or steady cash flow from rental income, we’ll help you design a financial strategy that supports your investment ambitions. Get Pre-Approved for a Loan Securing financing is a crucial first step in the property investment journey. With so many loan options available, it’s easy to feel unsure about which one suits you best. That’s where ALCHEMYFIN comes in. We specialise in assisting self-employed individuals, investors and first-time home buyers to find the right loan options tailored to their needs. Getting pre-approved for a loan not only clarifies your borrowing capacity and sets a clear budget but also gives you a stronger position when making an offer on a property. Do Your Research Understanding the property market is key to successful investment. Research areas with potential for growth—look at factors like local amenities, proximity to transport, schools and future infrastructure developments. A thorough market analysis will help you choose the right location for your investment. Choose the Right Property Once you’ve researched the market, it’s time to select the property that fits your investment strategy. Whether you’re after a house, apartment or commercial property loan , make sure the property suits your long-term financial goals. For example, if you're seeking capital growth, you might focus on properties in emerging suburbs, while those after steady rental income may prefer established areas with high rental demand. Our mortgage experts can help you assess your options and secure the right financing for the property that best suits your investment strategy. Understand Tax Implications and Legal Requirements Investing in property involves understanding the tax implications and legal obligations that come with owning an investment property. Seek professional advice from a tax accountant to ensure you're maximising your deductions and taking full advantage of tax benefits. Managing Your Investment Once you've purchased your investment property , effective management is key to its success. Whether you choose to manage the property yourself or hire a property manager, ensure you stay on top of maintenance, rental payments and other administrative tasks. Additionally, it’s important to regularly review your mortgage and investment strategy to ensure they’re aligned with your goals. Start Your Property Investment Journey Today with ALCHEMYFIN Property investment offers an opportunity to build wealth and financial security. With the right knowledge, strategy and expert support, you can set yourself up for long-term success. Get in touch with us today to learn more about how we can help you start your property investment journey with confidence. Let’s make your investment dreams a reality!

With a bit of strategic planning and smart choices, you can secure your dream home without breaking the bank.

Buying a home in Australia is a significant milestone, but with rising property prices, it’s important to understand how much you need to earn to afford a house in the country’s major cities. Factors like property values, interest rates and loan terms all play a role, and each city comes with its unique challenges and opportunities. Discover what it takes to afford a home in Australia’s major cities. From property prices to interest rates, we’ll help you understand the key factors and find opportunities that work for you. Top Cities In Australia To Buy A Home Australia offers a diverse range of cities for home buyers, each with its unique appeal. Whether you're drawn to vibrant urban centres or relaxed coastal living, there’s a location to suit every lifestyle and budget. Let’s explore some of the top cities to consider when buying a home. Sydney Sydney remains Australia’s most expensive city for property buyers. With the median house price sitting around $1,470,630, you’ll need a sizable income to keep up with mortgage repayments. Assuming a 20% deposit of $294,126 and a 30-year loan at an interest rate of 5.5%, you’d need to earn approximately $200,000 annually to comfortably afford a home in Sydney. Melbourne Melbourne offers slightly more affordable options compared to Sydney, with a median house price of about $917,620. A 20% deposit would be $183,524, and on similar loan terms, an annual income of around $150,000 is required. Melbourne’s vibrant lifestyle and growing suburbs make it a popular choice for homebuyers. Brisbane Brisbane is becoming increasingly attractive due to its more affordable housing market and lifestyle. The median house price is approximately $977,580, which means a 20% deposit of $195,516. For a 30-year mortgage at 5.5%, a household income of about $155,000 would suffice to buy a home here. Perth Perth offers some of the most affordable housing among Australia’s capital cities. With a median house price of around $847,520, a 20% deposit would be $169,504. On standard loan terms, you’d need an annual income of about $135,000 to own a home in this laid-back city. Adelaide Adelaide combines affordability with a high quality of life. The median house price sits at approximately $866,330. A 20% deposit is $173,266, and with a 5.5% interest rate, an annual income of around $140,000 would make homeownership feasible in this charming city. Canberra The nation’s capital, Canberra, has a median house price of about $965,910. A 20% deposit would be $193,182, and a household income of around $150,000 would be required to comfortably manage repayments. Canberra’s strong economy and stable job market make it a desirable location. Hobart Hobart’s property market has grown rapidly in recent years, with a median house price of about $693,920. A 20% deposit is $138,784, and an income of roughly $115,000 annually is needed for a home loan. Hobart’s unique charm and natural beauty continue to attract buyers. Darwin Darwin offers some of the most affordable properties among the capital cities, with a median house price of approximately $586,700. A 20% deposit is $117,340, and you’d need an income of about $100,000 to manage mortgage repayments. Darwin’s relaxed lifestyle and tropical climate are key selling points. ( Data source: Statista, ‘ Average value of residential houses in Australia as of December 2024, by capital city. ’ Released January 2025. Accessed January 23, 2025. ) Tips for Buying a Home in Capital Cities Save a Larger Deposit: A bigger deposit reduces your loan amount and can lower your monthly repayments. Shop Around for Lenders: Different lenders offer varying interest rates and loan terms, so compare options. Seek Expert Advice: Mortgage brokers can help you navigate the complexities of home loans and find the best deal. Plan Your Budget: Factor in additional costs like stamp duty, legal fees and insurance when planning your purchase. Final Thoughts Buying a home in Australia’s capital cities requires careful financial planning and an understanding of the local property market. While the income needed varies by city, preparing early and seeking expert advice can make the process smoother. Whether you’re aiming for Sydney’s bustling lifestyle or Perth’s relaxed charm, there’s a path to homeownership for everyone.

This guide breaks down the essentials to help you navigate your property investment journey with confidence. Let’s dive in!