If you have a secure income, steady job prospects, and a decent deposit saved, then now is a particularly good time to be a first home buyer.

While many markets are starting to pick up, property prices have been flat for a few months now, while the lenders are very eager for new business. For savvy first buyers, with the help of a finance broker, this means you can shop around for terrific deals on rates – and if you are paying an interest rate starting with a 3, then you might be paying too much.

At the same time, there is the $25,000 HomeBuilder grant available to those eligible first timers buying or building a new home, or who have plans to renovate a property. Also, don’t forget every state and territory offers stamp duty breaks too that are available only to first-time buyers.

There is a school of thought that first homebuyers should avoid making a property move until the start of October when JobKeeper either ends or is revised. My view is that not even the Prime Minister or the Treasurer knows for sure how JobKeeper will function later in the year, or whether the banks will extend the moratorium on mortgage repayments.

In other words, no one has a crystal ball to the future, and if you have found a well-located property in a good location, with strong growth prospects and your finances are in order, then now is an excellent time to make a move on a first home.

Moreover, there is little chance the Reserve Bank will increase rates anytime soon – the Bank of Japan has even suggested it won’t increase rates until 2023.

Also keep in mind that while the banks are eager for your business, to be eligible for a loan you will need a bigger deposit of at least 10%. If you don’t quite qualify, some first-time buyers are leaning on the bank of mum and dad to get them into a home.

For help on finding the right first home loan, contact Our Broker today on 02 8232 0327 02 8232 0327.