01
Give your savings a few different jobs
Start a simple list: money for the deposit, money for the purchase, and money you would like to keep available after moving. It is easier to discuss your options when those amounts are separate.
Your purchase budget should allow for expenses such as legal work, inspections, moving and any applicable transfer duty. The amount available for a deposit may therefore be less than your total savings. Ask your broker to explain any lender’s mortgage insurance that could apply to the options being considered.
02
Prepare for a useful first conversation
You do not need a finished application to speak to TSA. Bring a rough picture of your savings, income, regular spending, existing debts and the places you are considering. Include commitments that may change, such as childcare or a change in working hours.
- What monthly repayment would leave room for the rest of life?
- Which features matter most: an apartment, a garden, or another bedroom?
- How flexible is your moving date?
- What would you like someone to explain in plain English?
Keep sensitive documents out of the website enquiry. The team can explain how to provide documents when they are needed.
03
Understand what pre-approval means
Pre-approval can help you explore a price range, but it is not final loan approval. The lender still needs to assess the property and your circumstances. Ask which conditions apply, when the approval expires and what you should do before making an offer or bidding.
Use the repayment calculator to explore a few scenarios, then discuss them with your broker. It estimates repayments; it does not assess your borrowing capacity.
04
Check first-home assistance before relying on it
NSW first-home assistance has eligibility and property requirements. Your circumstances and the transaction determine what may apply. Use Revenue NSW’s current guidance and discuss the position with your conveyancer or solicitor before including assistance in your budget.
A useful question for the team is: “Which parts of my plan are confirmed, and which still need checking?” Keep those two lists separate as you move towards an application.