Buying a new home is exciting. There’s nothing quite like picturing yourself in a new space, and decorating it just the way you want, without the scrutiny of parents or landlords. Home ownership has been the great Australian dream for a long time, and the allure of our own space still holds a great attraction. For many of us, it’s the biggest financial commitment we make. So, it’s important to know what we’re in for, and to find the home loan that’s right for us.
Here you can discover the basics of getting a home loan, and get to grips with the jargon. We explain how different home loans work and what to look out for. Learn the difference between fixed and variable interest, and understand fees and charges you might come across. If you’re a first-time buyer there are tips to consider such as what you can really spend, taking account of stamp duty and whether you’re eligible for financial assistance. Take your time to explore this section, there’s no rush. Like finding the right property to buy, it can take time to find the home loan that suits you just now.
Understanding the loan to value ratio
What is the loan to value ratio? How does it affect your home loan? In this article we answer those questions and more you can be better informed. Read more
Understanding home loans
Chances are, buying a home will be the biggest, most expensive and most exciting purchase you’ll make during your life. Saving a healthy deposit is a good start, but if you’re like most Australians, you’ll need to take out a home loan to help fund your purchase. Here we explain how different home loans work and what to look out for. Read more
Saving for a house deposit
Saving for a house deposit can feel like you’ve got a mountain to climb. Here’s 5 things to help get you on your way to reaching that hefty savings goal. Read more
Applying for conditional approval
If you’re thinking about buying a home it might be a good idea to get pre-approval for your home loan before you start house hunting. Read more
Step-by-step guide to buying a property
Buying a property is the most expensive purchase most people will ever make, so it pays to do your homework and get it right. Here’s what you need to know. Read more
Principal and interest or interest-only mortgage?
Trying to decide between a principal-and-interest or interest-only home loan? In this article we look at both repayment types and what they mean. Read more
Renting vs buying
If you’re weighing up the pros and cons of renting a place to live versus buying a home, this explainer could help. Read more
How to find the right property
Some tips from AMP on searching for a new property, whether you’re an owner-occupier or investor. Read more
How much deposit do you need for a home loan?
If you’re ready to make the leap onto the property ladder, the first thing you’ll need is a deposit for your home loan. Find out here how much you’ll need to save. Read more
A comprehensive guide to the first home owner grant
Find out what the First Home Owner Grant is, if you meet the eligibility criteria as a first home buyer and how much the FHOG is in each state and territory. Read more
Getting started in property
In this episode of the Q&, learn how much you’ll need to buy a property, what upfront and ongoing costs to expect, and some of the key terms to become familiar with before you purchase your first home. Read more
Understanding lender’s mortgage insurance
What is lender’s mortgage insurance? And if you’re buying a home or refinancing, how do you know if you need it? Find out with AMP. Read more
How do bank valuations work?
Find out what bank valuations are, why they can differ from the purchase price of a property, and how it affects what homebuyers can afford to borrow. Read more
8 tips for buying your first home
We look at some of the financial and non-financial considerations you’re likely to come across when buying your first home. Find out more with AMP. Read more