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Key steps to buying a home

Know your budget

When you know your budget, you can start looking for a home that suits your needs. Before you start, it’s a good idea to know how much you could borrow, what your repayments might be, and how this fits with your personal budget.

Save for your deposit and other costs

Getting your deposit together can be a hurdle. It can come from cash, equity in property or both. You also need to cover other upfront costs such as stamp duty, government charges and potentially lenders mortgage insurance.

Look for your property

Start house hunting with confidence by getting a Approval in Principle1. This confirms your budget. It’s also the first step in the home loan application process, which means you can move quickly when you find the right property.

Make the most of your Westpac home loan

Your home loan isn’t just a way to buy a house it’s also a financial tool for achieving your goals. All Westpac home loans have features designed to change as your needs do - from the big stuff like taking a "baby break" to the small stuff like setting up a direct debit.

Finalise your home loan

Once your offer is accepted, the next step is to get Formal Approval of your Home Loan. If you've received your Home Loan Approval in Principle already, even better, because it means your application is underway and you can move quickly.

End to end expert help

Buying a property is a big financial decision that deserves sound advice and options. Our home loan experts will walk you through the journey of buying your home or investment property, answering any of your questions.

Start a conversation today

The best way to start is to talk to one of our experts who will guide you every step of the way.

Call us on 131 900.

Get informed

You may want to get an idea of what’s involved before talking to us so we've provided a snapshot of the journey below with links to tips and tools.

Things you should know

Credit criteria, fees and charges apply. Terms and conditions available on request.

This information in general in nature and 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.

 1.  Approval in Principle: tells you the amount Westpac might lend you based on the details you provide of your financial situation. This helps set your home buying budget, which means you can house hunt with confidence. It’s important to know this is only the first stage of the home loan approval process and it’s not yet an offer by Westpac to give you a home loan. The next stage of the home loan approval process happens once you find the property you want to buy. At that stage we do an assessment based on your property of choice and your financial situation at that time. A Home Loan Approval in Principle Certificate is valid for 90 days. If you don’t find a property within 90 days you will need to contact us to confirm your financial situation hasn’t changed, in order for the certificate to be renewed.