Buying your first home is a huge milestone, but with rising living costs and tough lending requirements, it can also feel out of reach. The good news? There are smart, achievable ways to step into the market with confidence. 

At Summerland Bank, we work with first home buyers every day, and we get that your needs are different from someone buying their second or third property. Whether you’re just starting your search or nearly ready to apply for a loan, here are a few tips to help you secure a great home loan and get closer to the keys. 

1. Focus on more than just the rate 

Yes, interest rates matter, but they’re not the full story. Make sure you’re also comparing: 

• Comparison rates (which include fees) 

• Features like offset accounts or redraw facilities 

• Flexibility for extra repayments or changes in life circumstances 

The right loan is about long-term value, not just the lowest number. 

2. Get your finances in shape early 

Before applying for a home loan, it’s worth tidying up your finances. Lenders will look at: 

• Your savings history 

• Credit score 

• Existing debts (like car loans or credit cards) 

• Ongoing expenses and spending habits 

Tip: Start tracking your spending for a few months and aim to reduce unnecessary outgoings, it shows you’re ready to manage repayments. 

3. Get pre-approved before you start house hunting 

Pre-approval gives you a clear idea of how much you can borrow and helps you shop with confidence. It also shows sellers and agents that you’re serious, which can be a big advantage in a competitive market. 

Our team can help guide you through this step, so you know where you stand from day one. 

4. Explore all your options (including family support) 

There’s more than one way to get your foot in the door. If saving a full 20% deposit feels out of reach, there are still pathways available. One of those is our Secure Start family guarantor option, where a close relative can use the equity in their home to help you avoid Lenders Mortgage Insurance and buy sooner, without giving you money. 

It’s just one of the ways we’re helping first home buyers move forward, even in a challenging market. 

Let’s make your home happen 

We’re a customer-owned bank, so our focus is always on what’s best for you, not shareholders. If you’re thinking about buying your first home, let’s have a conversation. No pressure. No jargon. Just practical support from people who care. 

Chat with a local lending specialist and learn more about Secure Start.