How to Qualify for a First Home Buyer Loan in Australia

If you’re planning to buy your first home, understanding the qualification requirements for a first home buyer loan is crucial. Lenders assess several factors, including your credit score, income stability, deposit savings, and debt-to-income ratio. Generally, you’ll need at least a 5% deposit, but some government schemes can help you secure a loan with as little as 2%. Additionally, having a strong credit history and stable employment can improve your chances of approval.