Whether it’s buying your first home, upgrading or investing, property ownership is still part of the Australian dream. Wherever you’re at in life, we can help you turn that dream into reality.

Step 1: Choosing a home loan

Northern Beaches Credit Union has made your choice simple with competitive home loans that cover the needs of most buyers. 

Step 2: Fixed or variable?

Our home loans range from basic to more sophisticated depending on your financial needs and are available as either fixed or variable rate loans.

Variable rate home loans can offer you a variety of features and flexibility, but your interest rate and repayments can change at any time.

A fixed rate home loan from Northern Beaches Credit Union lets you lock in a rate for up to 3 years. This gives you more certainty over your repayments which can give you confidence to budget accurately so you can plan your finances. 

Step 3: Your deposit

If you’re borrowing money to buy property, you’ll normally be expected to contribute a deposit. Usually this should be at least 20% of the property’s sale price. If you need to borrow more than 80% of the value of the property, you may be required to pay lender’s mortgage insurance. 

Step 4: Other costs to consider

When buying a home there will be some costs you expect to pay and others that may surprise you, these could include:

  • Stamp duty – this varies state to state and will also change according to the price that you purchase your home for. You can calculate how much you may need to pay by using our stamp duty calculator.  
  • Solicitor’s and/or conveyancing fees
  • Pest and building inspections
  • Real estate agent fees if you are selling your current home
  • Moving costs – can include storage and removalists. Some people even need to purchases boxes. 

Please bear in mind that this is only a general guide and shouldn’t be taken as financial advice. 

Step 5: What will your repayments be?

An important part of buying your home is working out how much you can afford to borrow. When you apply for a loan we will ask you about your income and financial commitments.

It is important that you don’t overstretch yourself. Be realistic, and make sure you’ll have enough money left over to afford all the other things that you enjoy in life plus have funds to meet any unexpected expenses.

Find out how much money you could borrow and what your loan repayments could be with our home loan calculator

Step 6: Be conditionally pre-approved

Before you start looking for a new home, contact us about getting conditional pre-approval. This will give you an idea of what you can afford so you can start house hunting with confidence. 

Step 7: The documents you’ll need

We will look at your income, your assets, your living expenses, your deposit and the price range of the property you’d like to buy. 

Here is a list of some of the things we may ask you for:

  • Proof of income – pay slips and/or group certificates and notice of assessments
  • Proof of other income
  • Proof of savings
  • Proof of identity
  • Details of assets – e.g. investments, shares or car

 

Talk to us first to make sure you have everything you need. 

Step 8: First time buyer?

If you’ve never bought a property in Australia before, you may be entitled to a First Home Owner Grant. This is a government subsidy to help new buyers get on the property ladder. The entitlements vary by State, so be sure to visit http://www.firsthome.gov.au to see how you may benefit.

Step 9: Ready to apply?

If you're ready to apply for one of our home loans click here.

Step 1: Choosing a home loan

Northern Beaches Credit Union has made your choice simple with competitive home loans that cover the needs of most buyers. 

Step 2: Fixed or variable?

Our home loans range from basic to more sophisticated depending on your financial needs and are available as either fixed or variable rate loans.

Variable rate home loans can offer you a variety of features and flexibility, but your interest rate and repayments can change at any time.

A fixed rate home loan from Northern Beaches Credit Union lets you lock in a rate for up to 3 years. This gives you more certainty over your repayments which can give you confidence to budget accurately so you can plan your finances. 

Step 3: Your deposit

If you’re borrowing money to buy property, you’ll normally be expected to contribute a deposit. Usually this should be at least 20% of the property’s sale price. If you need to borrow more than 80% of the value of the property, you may be required to pay lender’s mortgage insurance. 

Step 4: Other costs to consider

When buying a home there will be some costs you expect to pay and others that may surprise you, these could include:

  • Stamp duty – this varies state to state and will also change according to the price that you purchase your home for. You can calculate how much you may need to pay by using our stamp duty calculator.  
  • Solicitor’s and/or conveyancing fees
  • Pest and building inspections
  • Real estate agent fees if you are selling your current home
  • Moving costs – can include storage and removalists. Some people even need to purchases boxes. 

Please bear in mind that this is only a general guide and shouldn’t be taken as financial advice. 

Step 5: What will your repayments be?

An important part of buying your home is working out how much you can afford to borrow. When you apply for a loan we will ask you about your income and financial commitments.

It is important that you don’t overstretch yourself. Be realistic, and make sure you’ll have enough money left over to afford all the other things that you enjoy in life plus have funds to meet any unexpected expenses.

Find out how much money you could borrow and what your loan repayments could be with our home loan calculator

Step 6: Be conditionally pre-approved

Before you start looking for a new home, contact us about getting conditional pre-approval. This will give you an idea of what you can afford so you can start house hunting with confidence. 

Step 7: The documents you’ll need

We will look at your income, your assets, your living expenses, your deposit and the price range of the property you’d like to buy. 

Here is a list of some of the things we may ask you for:

  • Proof of income – pay slips and/or group certificates and notice of assessments
  • Proof of other income
  • Proof of savings
  • Proof of identity
  • Details of assets – e.g. investments, shares or car

 

Talk to us first to make sure you have everything you need. 

Step 8: First time buyer?

If you’ve never bought a property in Australia before, you may be entitled to a First Home Owner Grant. This is a government subsidy to help new buyers get on the property ladder. The entitlements vary by State, so be sure to visit http://www.firsthome.gov.au to see how you may benefit.

Step 9: Ready to apply?

If you're ready to apply for one of our home loans click here.