Buying your first home in Perth is one of those milestones that feels equal parts exciting & overwhelming at the same time.
You’re settling into a new chapter here in Perth, building your future, and exploring where your family will grow, all while trying to understand how the Australian home loan system works.
With so many lenders, interest rates and loan types to choose from, it’s easy to feel unsure about where to begin.
The best thing is JH Finance Group offers various home loan options in Perth that suit different incomes, savings levels and long-term plans.
So, doesn’t matter what your ethnicity is, where you came from; if you are searching for property, you call it by your name. Connecting with finance brokers is the best option.
We help you understand that a home loan can make the entire process smoother and far more achievable.
This guide walks you through the top home loan options in Perth for first-time buyers, helping you make confident, well-informed decisions from day one.
Why Perth Is a Great Place to Buy Your First Home
Perth grows with a quiet confidence. Its suburbs keep expanding, offering homes that still sit in that rare space between affordable and aspirational.
The house price rose by 1.1% in a month, 3.1% over a quarter, and 6.3% annually (source). Showing steady growth and reinforcing its status as one of the fastest-rising markets in the country.
For first-time buyers, this signals a market that’s alive but still holds pockets of attainable homes, especially in up-and-coming suburbs.
There’s a strong sense of community woven into everyday life, creating a place where new beginnings feel natural, and connections form easily.
Add in a balanced mix of lifestyle comforts, quality schools, evolving job markets and well-planned infrastructure, and you get a city designed for long-term living.
Most importantly, Perth’s property market has shown steady, reliable growth, which gives first-time buyers a sense of security.
Understanding Home Loans in Australia
Once you understand the basics, getting a home loan is easy. Let’s begin with home loan basic definition.
- What is a home loan?
A home loan is money borrowed from a bank or lender to buy a property. You repay it over time through regular instalments, usually 25 to 30 years, with interest added on top.
- How deposits work
Your deposit is the upfront amount you contribute from your savings. Most lenders prefer at least 10 to 20 per cent of the property price, though some low-deposit options exist if your financial profile is strong.
- What does LVR (Loan-to-Value Ratio) mean
LVR shows how much you need to borrow compared to the property’s value. For example, if your home costs $600,000 and you put down a $60,000 deposit, your LVR is 90 per cent. A lower LVR usually means lower risk and better loan options.
- What lenders assess
Before approving your loan, lenders look at a few key factors:
- Income and employment stability
- Visa type and residency status
- Credit score and repayment history
- Savings behaviour and existing debts
- Genuine savings over time
These details help lenders understand your ability to manage long-term repayments.
Why does using a mortgage broker in Perth matter?
A good mortgage broker in Perth becomes your guide through the entire process. They compare lenders, explain paperwork, negotiate better rates and help you navigate hurdles like credit history, visa status or limited savings.
For new migrants, this support can make the difference between a stressful experience and a smooth, confident approval.
Learn more about how we can help you secure a home loan in Perth at the lowest interest rates.
Top Home Loan Options in Perth for First-Time Buyers
Understanding these home loan options in Perth helps you choose the path that feels steady, sustainable and right for your stage of life.
- Standard Variable Rate Home Loans
A flexible option where your repayments can rise or fall depending on interest rates. When rates drop, you benefit instantly. Many lenders also offer redraw facilities, giving you access to extra repayments when needed.
- Fixed Rate Home Loans
Your interest rate stays the same for a set period, keeping your repayments predictable. It’s a calm, structured choice for buyers who like planning their budget with clarity.
- Split Home Loans (Fixed + Variable)
This option blends stability with freedom. Part of your loan stays fixed while the rest moves with the market. It’s ideal for buyers who want balance rather than choosing one side entirely.
- Low Deposit Home Loans (5 to 10%deposit)
Perfect for buyers with a reliable income but limited savings. You can enter the market sooner without waiting years to build a large deposit.
- First Home Guarantee Scheme
A government-supported pathway that allows eligible first-time buyers to purchase with a smaller deposit while avoiding Lenders Mortgage Insurance. It makes the first step into home ownership noticeably lighter. Learn more at official website.
- Interest-Only Home Loans
For the first few years, you only pay the interest, not the full repayment. It keeps things manageable during the early stages when your budget might be tighter.
- Construction Loans
If you’re planning to build in one of Perth’s growing suburbs, this loan releases funds in stages as your home takes shape. You’re only charged interest on the amount drawn, which helps with cash flow during construction.
Eligibility Requirements for First-Time Buyers
Lenders check a few essentials before approving your loan:
- Minimum deposit: Usually 10 to 20%, though some lenders accept lower with strong financials.
- Consistent income: Regular earnings that show you can manage long-term repayments.
- Visa type: PR holders get the widest options, but many lenders also consider temporary visas like 482, 491 and 485.
- Credit history: A solid score helps secure better rates and smoother approvals.
- Genuine savings: Savings built gradually over time reflect financial discipline.
- Employment stability: A steady job or long-term contract strengthens your application.
Read the complete checklist for home loan approval here.
In The Bottom…
JH Finance Group makes home ownership easier for migrants. We work with multiple lenders to find competitive, low-interest loans, guide you through non-standard paperwork.
We’ve more than 20+ renowned lenders who offer competitive interest rates for new homeowners.
Get personalised solutions for your first-time home loan with JH Finance Group. Schedule a free home loan consultation with our finance broker now.
