Buying your first home
Starts with understanding the process.
Start your home ownership today with the help from our trusted team.
At Oakwood Finance we guide first home buyers through every step of the journey, from understanding borrowing capacity through to securing the right loan.
Real Guidance From Our First Home Buyer Information Night
Oakwood Finance recently hosted a First Home Buyer information evening where we walked through the lending process, deposit strategies and government incentives available in Queensland.
The strong turnout confirmed what we see every day: many buyers are ready to enter the market but simply need clear guidance and the right strategy.
Watch the full session below.
The first home buyer journey
Step 1
Understanding borrowing capacity
Before you start house hunting, we help you understand how much you may be able to borrow based on your income, expenses and existing debts. At Oakwood Finance, we also make sure the repayments feel manageable for your lifestyle, not just approved on paper.
Step 2
Creating a deposit strategy
Your deposit impacts how much you can borrow and whether extra costs like Lenders Mortgage Insurance apply. We’ll help you map out how much you need, what additional costs to plan for and whether any support options could help you get there sooner.
Step 3
Accessing government incentives
As a first home buyer, you may be eligible for grants, stamp duty concessions or government guarantee schemes. We guide you through what you may qualify for and how these incentives can reduce your upfront costs.
Step 4
Loan pre-approval
Pre-approval gives you a clear budget and shows sellers you’re a serious buyer. We prepare and submit your application so you can search for a property with confidence.
Step 5
Finding a property
Once pre-approved, you can focus on finding the right home within your budget. We’re here to flag any lending considerations before you sign a contract, helping you avoid surprises.
Step 6
Loan approval
After you’ve signed a contract, the lender completes a valuation and final checks before issuing formal approval. We manage the process from start to finish and keep you updated every step of the way.
Step 7
Settlement & Beyond
Settlement is when your loan funds are released and ownership officially transfers to you. We stay involved through to the finish line to help ensure everything runs smoothly on the day. We also get in touch periodically down the track to ensure you’re still supported.
Do I need a 20% deposit?
One of the biggest misconceptions is that you need a 20% deposit to buy your first home – but that’s not always the case. Depending on your situation, there may be options available with as little as 5% deposit, family guarantee support, or even gifted funds, provided lender requirements such as genuine savings are met. At Oakwood Finance, we help you understand what pathways may be available so you can move forward with confidence rather than feeling stuck on a single number.
Common First Home Buyer Mistakes
Many buyers delay their plans because the process seems complicated. In reality, with the right guidance the path to home ownership can be much closer than people expect. Avoid the following pitfalls and you could be a home owner sooner than expected.
Waiting too long to start planning
Not understanding borrowing capacity
Ignoring government incentives
Choosing the wrong loan structure
Not engaging help from professionals who are in the know
Why work with Oakwood Finance?
At Oakwood Finance, we do more than arrange a loan – we focus on structuring your lending in a way that supports your long-term financial goals. With access to multiple lenders, clear communication at every stage and an education-first approach, we guide you from application through to settlement, so you feel informed, supported and confident throughout the entire process.
