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Home Loans

First Home Buyers Get your foot in the door

At Credit Union SA we understand how hard it can be for first home buyers to get into the property market.

That’s why, in addition to our very competitive home loan rates, we’re offering a $5,000 First Home Buyers Grant when you borrow at least $250,000 to purchase or build a first home with a loan to value ratio over 80%.

All loans that are eligible for the First Home Buyers Grant will be subject to pay Lenders’ Mortgage Insurance.

From one South Australian to another it’s a step to help you get a foot in the door.

First Home Buyers Guide Family Guarantee Guide CoreLogic Property Reports Super opportunity for first home buyers


How do I receive the grant?

There are two ways you can choose to receive your grant from Credit Union SA:

  1. Have it paid into an account of your choice after settlement. Please note the grant cannot be accessed prior to settlement for new complete or established homes. If you are constructing, the grant will be paid on confirmation that the foundation has been poured.
  2. Choose to have it applied directly towards the settlement of your property purchase, or when constructing, the grant is paid when the foundation is poured.

Home Loan calculators

We have a range of helpful calculators for First Home Buyers:

Repayment calculator

  • Calculate your repayments for different loans, for various terms and payment frequencies.

Buying and Selling Costs calculator

  • Calculate the costs of buying and selling, including real estate agent costs and stamp duty.

Borrowing Power calculator

  • Determine what amount a lender may lend you based on your income and expenses.

Loan Comparison calculator

  • Compare two different loans using their individual honeymoon rates, upfront fees, monthly fees and discharge fees.

Deposit Planner calculator

  • Calculate your accumulated savings as well as interest accumulated over a specified time term.

For security reasons, current members of Credit Union SA are asked to submit all account enquiries through Internet Banking Secure Mail.

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Meet First Home Buyer Ellie-May

Meet First Home Buyers Nathan and Larissa

We understand that the journey to home ownership is exciting, but it can also be a little daunting the first time around.

Read on to learn about some of the key considerations and milestones you'll complete as you achieve your goal of home ownership.

Step 1

Where to start

So you’ve decided to buy your first home, but don’t know where to start? Credit Union SA is here to help you sort through all of the red tape and nonsensical banking language.

First Home Buyers Guide Set your budget Saving for your deposit Get pre-approved Renovate a home

Step 2

How much can I borrow? 

Every home buyer is different, and the amount that each person can borrow is also different. Your borrowing potential is determined by your income, your assets, your living expenses, and the kind of loan you are after. 

Family Guarantee Guide Borrowing limits Which loan is for me? Top Tips: Working out your borrowing capacity 

Step 3

Buying your home

So you’re ready to start looking for a home. You’ve got your deposit and your pre-approval sorted, so now you can start looking for your dream home. Real estate websites are great at making houses look desirable online, but seeing a house in person will speak volumes. 

CoreLogic Property Reports Open inspections Buying at auction How to make an offer Buying an investment Insure my home Paying off your loan 

Contact us today!

The Repayment calculator allows you to calculate your repayments for different loans, for various terms and payment frequencies.

How we can help

A clear and simple path to becoming a home owner for the first time.

The Repayment calculator allows you to calculate your repayments for different loans, for various terms and payment frequencies.

The ultimate in savings and flexibility. The Credit Union SA Home Loan Package offers a fantastic collection of benefits across our home loans, Visa credit cards, personal loans, investments and more.

Looking for rates with a little more flexibility? Check out our competitive Standard Variable Home Loan rates.

Lending criteria, fees and conditions apply. Offer is current as at 23/04/2018 and is subject to change. Minimum loan $250,000 to purchase or build a first home with a loan to value ratio over 80%. All loans that are eligible for the First Home Buyers Grant will be subject to pay Lenders’ Mortgage Insurance. To be eligible, applicants must not have previously owned residential property in Australia. Available to natural persons only (i.e. not a trustee or a company).

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