Buy a property
Find your dream home
Finding your dream home has never been so easy! At optimum finance we go above and beyond to help you buy a home, giving you easy step by step instructions along the way.
We can let you know exactly how much you can borrow and find a house that meats your budget. The advantage of using a broker is that we have access to over 30 lenders, meaning we can choose the lender that will give you the best chance of approval and buy the house that you want.
The best part of our job is that we are paid by the bank, meaning that our service is completly free to customers, with no hidden fees or extra costs involved.
What to consider when Buying your home?
Property Type
When buying a home to live in, your choice between a house and a unit will largely depend on your lifestyle and budget.
Houses: Generally offer more space and land content, which is great for families and pets, and often results in better long-term capital growth.
Units/Apartments: Often more affordable and lower maintenance, allowing for a “lock-up-and-leave” lifestyle, though you will need to factor in Strata/Body Corporate fees.
Location
Unlike an investment where “rental yield” is king, your home needs to suit your daily life.
Commute: Is it close to public transport or major roads for work?
Community: Are there good schools, parks, and cafes nearby?
We can generate free property reports for you to see how much similar homes in the area are actually selling for, preventing you from overpaying.
Costs of buying
It is important to budget for more than just the deposit. We help explain all the costs involved in your purchase:
Stamp Duty: A state government tax based on the property value.
Transfer Fees: The cost to register your title.
Council Rates: Ongoing costs to the local municipality.
We can help you calculate these upfront so there are no nasty surprises at settlement.
Coverage & Protection
Since this is your primary residence, protecting it is non-negotiable.
Building Insurance: Most lenders require you to have this in place before settlement to cover the structure of the home.
Contents Insurance: Covers your personal belongings inside the home.
Income Protection: It is worth considering how you would pay the mortgage if you were unable to work due to illness or injury.
Paying Off Your Loan Faster
As an owner-occupier, your goal is likely to pay off debt, not just service it.
Offset Accounts: A savings account linked to your loan. Every dollar in here reduces the interest you pay on your mortgage.
Redraw Facilities: Allows you to make extra repayments to lower your interest bill, with the option to withdraw the money later if needed for renovations or emergencies.
Loan Types Available
Variable Rate: Your interest rate moves with the market. These loans offer maximum flexibility, often allowing for unlimited extra repayments and offset accounts to help you save on interest.
Fixed Rate: You lock in a specific interest rate for a set period (usually 1–5 years). This protects you from rate rises and guarantees your repayment amount stays the same, making budgeting easier.
Principal & Interest vs. Interest Only: Most owner-occupiers choose Principal & Interest because it pays down your debt and builds equity immediately. Interest Only is generally reserved for investors or short-term cash flow needs, as it doesn’t reduce your loan balance.
The process
introduction
Speak with one of our brokers to discuss your lifestyle goals and calculate your true borrowing power. We exchange documentation and collect your financial information to ensure we find a loan that fits your budget.
Choose a lender
After comparing the market, we present you with 3 tailored lender options. We look for features that matter to you—like offset accounts, low fees, or cashback offers—and negotiate with the lender to get a discount on your interest rate.
Pre-approval
Once pre-approved, you can house hunt with confidence. You can attend auctions, make offers, and negotiate with vendors knowing exactly what you can afford. This “green light” shows real estate agents you are a serious buyer.
Settlement
Once your offer is accepted and the contract is signed, we work with your conveyancer and the bank to finalize the loan documents.On settlement day, the funds are transferred to the seller, and the home officially becomes yours.
Managing your property
Congratulations! It’s time to pick up the keys. But our job doesn’t end there. We will stay in touch to ensure your loan remains competitive in the years to come, helping you review your rate annually so you never pay more than you have to.
Loan types and features
