Question 1

How much deposit do I actually need for my first home?

Accepted Answer

Five percent is workable if you are eligible for a guarantee scheme, and 20 percent avoids lenders mortgage insurance altogether. Anything in between is a trade off between LMI cost and time in the market, so we price both paths for your scenario before you make an offer.

Question 2

Which grants and concessions am I likely to qualify for?

Accepted Answer

It depends on your state, the property price and whether the home is new or established. We check the First Home Guarantee, the First Home Owner Grant and stamp duty concessions against your purchase plan, then confirm which lenders accept them without slowing the approval down.

Question 3

How long does pre approval take and how long does it last?

Accepted Answer

Pre approval usually takes 3 to 10 business days depending on the lender and how clean your income documents are. Most pre approvals last around 90 days and can be refreshed if you are still searching when it expires.

Question 4

Do lenders really need to see genuine savings?

Accepted Answer

Many do when your deposit is under 10 percent. Genuine savings usually means funds held or accumulated over three months, and rent paid on time can count with some lenders. If your deposit is gifted, we choose lenders comfortable with that and prepare the evidence properly.

Question 5

Can I buy off the plan as a first home buyer?

Accepted Answer

Yes, though the approval works differently because settlement is further away. Valuations expire in about 90 days, so approval needs refreshing near completion. We flag the settlement risk and pick lenders that handle long settlements without renegotiating your terms at the last minute.

Question 6

What does your service cost me?

Accepted Answer

Nothing for standard residential lending. We are paid by the lender once your loan settles, and we tell you up front if a scenario falls outside that arrangement.

Question 7

What does Vairo Finance do for first home buyers?

Accepted Answer

We map your deposit, genuine savings position and eligibility for the First Home Guarantee, state grants and stamp duty concessions, then match that to lenders who price and assess it well. You get a written comparison of the shortlist, not a single recommendation you cannot check.

Question 8

What do the numbers usually look like for first home buyers?

Accepted Answer

Deposits from 5 percent are workable under the guarantee scheme, and 20 percent avoids lenders mortgage insurance entirely. Where a smaller deposit is the only realistic path, we quantify the LMI cost against the cost of waiting another year in a rising market.

Question 9

How long does first home buyers finance take?

Accepted Answer

Pre approval typically takes 3 to 10 business days depending on the lender and how clean the income documents are. Formal approval after an accepted offer usually lands within 5 to 15 business days.

First home buyers.

What we do

How the numbers usually look

Timelines

ADF pay, allowances and postings.