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First home buyer

At MPEG, we understand that purchasing your first home is both exciting and transformative. Our dedicated team is committed to guiding you from the initial spark of an idea to the joy of moving day.

Why Choose Us

An exceptional quality that can’t be beaten

Expertise & Experience

Our finance experts help you find the best mortgage options, explain rates, terms, and pre-approval simply and clearly.

A Streamlined Process

From pre-approval to settlement, we make every step easy so you can enjoy the excitement of buying your first home.

Maximize Your Benefits

Our team stays updated on the latest state and federal programs to ensure you receive every advantage available.

Personalized Assistance

We guide you through eligibility and applications, helping you maximize benefits and buy with confidence

Premium Standards

Every home includes premium fixtures, fittings, and energy-efficient appliances for comfort and lasting value from day one.

Transparent Pricing

At MPEG, we offer clear, upfront pricing with no hidden costs, helping you plan your budget confidently.

Design Consultation

Modern Design, Smart Living

We combine contemporary design trends with smart, practical solutions to craft spaces that are as functional as they are beautiful. Every detail is thoughtfully considered to fit seamlessly into your daily life, ensuring your home feels effortlessly stylish and truly your own.

Your Vision, Our Expertise

Our design consultation service puts your ideas at the forefront. Work with experienced architects and interior designers to create a home that reflects your lifestyle and personal style.

Innovative & Functional

By merging modern design trends with smart, practical solutions, we ensure your home is not only visually stunning but also perfectly suited to your daily life

Additional Perks

Exclusive Benefits

When you choose MPEG, you gain access to exclusive perks designed to enhance your home-buying experience. Enjoy special promotions, discounts on home accessories, and partnerships with local businesses that add extra value to your investment.

Community & Continued Support

Join a growing community of first-time home buyers who have trusted us on this important journey. Our ongoing support and after-sales service ensure you’re never alone on your path to homeownership.

Get started today!

FAQ’s

Your Real Estate Journey
Starts with Clarity

General Home Buying Process
The “settlement period,” which is the time from when the contract of sale is signed to the official transfer of ownership, typically ranges from 1 to 4 months, or 30 to 90 days, depending on the agreement between the buyer and seller. The entire journey from initial financial planning can take longer, depending on your preparation and market conditions.
Financial Planning & Costs
While a 20% deposit is often considered ideal to avoid Lenders Mortgage Insurance (LMI), you can frequently secure a property with 5% deposit. Importantly, government schemes like the Home Guarantee Scheme allow eligible buyers to purchase with as little as a 5% or even 2% deposit without paying LMI.
LMI is an insurance policy that protects the lender (not you) in situations where your home loan deposit is less than 20% of the property’s value. It’s a significant upfront cost for many first home buyers. However, government initiatives such as the Home Guarantee Scheme and the Victorian Homebuyer Fund are designed to help eligible buyers avoid paying LMI.
Government Grants & Schemes (Federal & Victorian)
The FHOG is a $10,000 grant available to eligible first home buyers who are purchasing or building a new home in Victoria valued at $750,000 or less. To qualify, the property must be genuinely new, meaning it has not been previously sold as a place of residence, occupied as a home, leased out, or used for short-term accommodation.
Yes, as a first home buyer in Victoria, you may be eligible for a full stamp duty exemption for a principal place of residence (PPR) valued up to $600,000. For a PPR valued between $600,001 and $750,000, a concession on stamp duty is available on a sliding scale. These benefits are distinct from the FHOG.
The Home Guarantee Scheme is an Australian Government initiative administered by Housing Australia. It helps eligible home buyers purchase a home sooner with a smaller deposit (as low as 2% or 5%) by providing a guarantee to the lender, which waives the need for Lenders Mortgage Insurance (LMI). The scheme includes the First Home Guarantee, Regional First Home Buyer Guarantee, and Family Home Guarantee, each with specific eligibility criteria.
The FHSSS allows you to save for your first home deposit by making voluntary contributions into your superannuation fund. This offers a tax-effective way to save, as these contributions and their associated earnings are taxed at concessional rates. You can contribute up to $15,000 in any one financial year, with an overall maximum of $50,000 across all years. You can then request a release of these funds for your home purchase.
Mortgages & Loans
Yes, obtaining home loan pre-approval is highly recommended. It provides you with an estimate of how much you can realistically borrow, gives you a concrete budget to work with, and signals to sellers and real estate agents that you are a serious and prepared buyer. Pre-approvals are typically valid for three months.
A mortgage broker plays an indispensable role in your home buying journey. They assess your financial situation, borrowing capacity, and credit score. They then compare loan options from numerous lenders, negotiate competitive offers on your behalf, and provide expert guidance throughout the entire application process and even post-settlement. It’s highly recommended to speak with a mortgage broker early in your journey, even before you’ve saved your full deposit.
A fixed-rate mortgage has an interest rate that remains constant for a set period, typically 1 to 5 years, providing predictable monthly repayments. A variable-rate mortgage has an interest rate that can fluctuate with market conditions, meaning your repayments can go up or down. Some buyers opt for a split loan, which combines both fixed and variable rates.
In Victoria, a cooling-off period allows a buyer to withdraw from a private sale contract within a certain timeframe (typically 3 business days) after signing, often with the forfeiture of a small holding deposit (e.g., 0.25% of the purchase price). This period is generally not applicable to properties bought at auction. Conditional offers (e.g., subject to finance or a satisfactory building inspection) can sometimes make a cooling-off period unnecessary.
Property settlement is the final legal process where ownership of the property formally transfers from the seller to you, and the remaining balance of the sale price is paid. Your conveyancer or solicitor manages this intricate process, liaising with your lender and the seller’s representatives to ensure all legal and financial requirements are met.
On settlement day, your legal and financial representatives meet with the seller’s representatives to exchange documents and funds. Your lender registers the mortgage against the property title, and your solicitor/conveyancer ensures a clear title and registers the transfer of ownership into your name. Property-related charges like council rates, water rates, and body corporate fees are adjusted so each party pays only for the period they own the property. Once all is complete, you can collect the keys and officially take possession of your new home.
It is strongly advisable to arrange building and contents insurance coverage from the date of contract exchange, even though legal ownership formally transfers at settlement. Your lender will typically require a copy of the insurance policy before the settlement date to protect their interest in the property.

MPEG – Melbourne Property and Equity Group is your trusted partner in navigating Victoria’s ever growing & dynamic property market. We are your gateway to pursue prosperity through property & equity.

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