Your First Home in Canberra Starts Here

The Path to Ownership: A 6 Step Guide

01 | Organise your deposit and budget

While a 20% deposit is the traditional standard to avoid Lenders Mortgage Insurance (LMI), many of our buyers start with as little as 5%.

• Guarantors: You may be able to use equity from a family member to secure your loan and enter the market sooner.
• First Home Guarantee: This government initiative allows eligible buyers to purchase with a 5% deposit without the cost of LMI.
• Canberra Budgeting: Remember to factor in legal conveyancing, building and pest inspections, and moving expenses.

02 | Navigate the loan process

We search through our panel of 60 lenders to construct your tailored Game Plan. Once you select a path, we arrange your pre approval, which is usually valid for three months. This gives you a clear spending limit to start house hunting seriously.

03 | Know your options

We help you choose the right loan structure:

• Variable rate: The interest rate can fluctuate up or down over the life of the loan.
• Fixed rate: Your rate is locked for a set period, providing absolute repayment certainty.
• Split loan: The best of both worlds, with one portion fixed and the remaining balance variable.
• Offset accounts: A separate transaction account that reduces the interest you pay on your mortgage.

04 | Find your dream property

In the ACT, it is important to weigh up your lifestyle needs:

• House vs Unit: Free standing houses often offer greater capital growth, while townhouses and apartments provide affordable entry points closer to major town centres.
• New vs Existing: New builds can qualify for extra government initiatives, while established homes often feature mature locations and unique character.

05 | Property buying checklist

Before you sign a contract, keep these territory specific factors in mind:

• Energy Ratings: Review the mandatory Energy Efficiency Rating (EER) to understand future heating and cooling costs.
• Zoning: Look for any planned infrastructure developments or land use changes nearby.
• Condition: Always review the building, pest, and compliance reports included in the contract of sale to look for structural flaws.

06 | Why choose a Loan Market Canberra broker?

• We work for you: We are independent of the banks, so our priority is your best interest, not the lenders.
• Local insight: We understand the nuances of the ACT property landscape and employment sectors.
• No cost to you: Our service is paid for by the lender you choose, meaning you get professional representation without an extra invoice.