Absolutely, purchasing a home on your own is feasible if you meet the criteria for a home loan. Obtaining a home loan as a single individual is like the process for couples. Approval for a loan depends on various factors such as;

• Income – paid employment
• Assets – cars, houses etc.
• Expenses & debts
• Credit score/history.

While dual-income households may have an advantage in terms of borrowing power, there’s still hope for solo buyers.

Yes, you need to be employed.

Understanding your borrowing capacity is key when buying a home on a single income. It indicates how much you can borrow for a mortgage, shaping your budget. Lenders consider factors like income, expenses, existing debt, dependants, and interest rates to determine your repayment ability. We’re here to guide you through this process!

Fill out the enquiry form to get started.

No, unfortunately you will need to be employed.

There’s a range of government support schemes ready to swoop in and lend a helping hand. And hey, who says you can’t have a little extra assistance in your quest for your own home?

1. The First Home Guarantee Formerly known as the First Home Loan Deposit Scheme (FHLDS), the First Home Guarantee (FHBG) enables eligible first-time buyers to purchase a home with only a 5% deposit and without lenders mortgage insurance (LMI), subject to conditions.

1. Family Home Guarantee The Family Home Guarantee (FHG) assists single parents with at least one dependent child in purchasing a family home, regardless of whether it’s their first home. Eligible applicants can secure a home with a deposit as low as 2% and no LMI.
2. First Home Loan Super Saver Scheme The First Home Super Saver Scheme (FHSS Scheme) allows individuals to save for their first home through super contributions. You can contribute up to $15,000 per financial year, which can be accessed along with investment earnings, capped at $50,000. Terms and conditions apply.