Buying your first home

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The first home buyers’ hub

For first-timers, the key to a smoother experience is often as simple as knowing what to expect. So we're here with checklists, calculators, FAQs, our online loan application and next steps. 

Save your deposit

You'll normally need 20% of the property's value. Calculate how long it could take you to save, and discover two ways that could help you buy sooner.
 

Learn the lingo

LVR, LMI, offset, comparison rate, holding deposit. There’s a lot to get your head around – this glossary will help clear things up.
 

Find your price range

Gauge how much you could afford to borrow, as well as potential costs, interest rates and mortgage repayments.
 

Know the process

Minimise butterflies. Know the end-to-end journey, from budgeting and negotiating to the valuation and collecting the keys!
 

Find 'the one'

We'll help you out with local trends and estimated values, so you can focus on enjoying the hunt.
 

Choose from 3 loan types

Select from our basic variable, fixed interest and variable offset home loans. You can then tailor with features like our split loan, package# (unavailable with basic) and construction option.
 

Help at every stage

One point of contact

You’ll be assigned your home finance manager who’ll progress your application and answer all your questions.

Don't have 20% deposit?

You could still borrow by paying Lenders Mortgage Insurance, or with our Family Security Guarantee. Plus you may qualify for a first home buyer grant and concession. 

Evolving with you

Get ahead with unlimited extra repayments on variable home loans and a $30k prepayment limit for fixed home loans1. If you need to you could redraw2, or apply for a repayment holiday3.

Applying is simple, get started online

1. Apply online

Tell us some details about you and see how much you could borrow. Don’t worry, we’ll save as you go and there won’t be a credit check until you’ve spoken with a home finance manager.

2. Talk it through

A home finance manager will be in touch to answer all your questions, and progress things to the next stage.

3. Conditional approval, if needed

We may be able to provide you conditional approval to help you confidently bid or make an offer knowing how much you can afford. Conditional approval is valid for 90 days . Need more time? We can renew it.

4. Full approval

Once we’ve valued your property and completed other verification, we’ll let you know when your application’s been approved. Accept our loan offer and you’re on your way to settlement – congrats!

 

Apply online

Already started an application? Retrieve your application

 

Articles & printouts

Calculators

Loan features

Start your application online

It should only take around 20 minutes to apply, then a home finance manager will call you back.

Apply online
Call us

131 900

8am - 8pm, 7 days a week

Meet face-to-face

Drop by your local branch or call to make an appointment.

Things you should know

Credit criteria, fees and charges apply. Terms and conditions available on request. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers. This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.

 

1Break costs on fixed loan prepayments and switching: customers can make total prepayments of up to $30,000 (cumulative) for fixed loans, without costs or fees applying. You may incur a break cost and administration fee if your prepayments exceed this threshold, or if at any time before the end of a fixed rate period you switch to another product, interest rate (fixed or variable) or repayment type.

 

2Redraw facility: if you have ‘available funds’ (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Read our Redraw Authority form (PDF 66KB) for full details. Redraw will not apply if you have a Bridging Loan.

 

3Repayment holiday: Conditions, eligibility and suitability criteria apply. 

  • Reduced loan repayments: reduction of up to 50% available for up to 6 months on variable home loans held with us for over 12 months. It is important to understand that at the end of the reduced repayment period, the repayment amount will increase to adjust for the reduced repayments. This ensures that the loan is still repaid within its original term. Read the disclosure documents for your selected product or service before deciding if this option is right for you. 
  • Mortgage repayment pause: available for up to 6 months on variable home loans held with us for over 12 months. 
  • Parental leave: if you’ve held your variable home loan with us for over 12 months, you could be eligible to reduce your home loan repayments up to 50% for up to 12 months while on maternity or paternity leave, subject to approval.

 

#Premier Advantage Package: Conditions of Use and $395 annual package fee applies. You must either hold or be approved for a Westpac Choice transaction account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Applicants must have a Westpac Choice transaction account linked to the home loan at the time of settlement and must keep this account open for 60 days after settlement. Before deciding to acquire a Westpac Choice account, read the terms and conditions, and consider whether the product is right for you. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.
Premier Advantage Package Conditions of Use (PDF 88KB)