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Preparing to buy my first home

Buying your first home? Go, you! Now’s the time. IMB’s First Home Buyers Guide provides easy explanations through the journey of buying your first home.

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How to buy my first home

You’ve done the research, have an expectation for price and value in the area, have your deposit (and extras) sorted and are feeling primed. It’s now time to organise your loan and buy your first home.

  1. Get ‘Conditional Approval’
  2. Types of Home Loans
  3. Make an Offer
  4. Hire a Solicitor/Conveyancer
  5. Get a Contract of Sale
  6. Get a Building and Pest inspection
  7. Get Formal Approval
  8. Review Contracts of Sale
  9. Exchange Contracts
  10. Cooling-off Period
  11. Settlement

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How to get your first home loan in 4 simple steps

Understand the basics

Buying your first home is both daunting and incredibly exciting. Check out our step-by-step guides to take you from “I wish” to “I’m home”.

Compare home loans

Fixed rate or variable rate? What’s an offset account? Can I redraw on my home loan? Compare home loans, simple and easy.

Apply for a home loan

Book a time to speak with an IMB Bank home loan expert or apply for a home loan online.

Loan approved

Found your dream home or are shopping around? Get conditional approval# so you can buy with confidence.

How we can help you

140 years of giving home loans
We have been helping people buy their first homes and achieve their financial goals since 1880.
 
We can come to you
Our mobile lenders are on standby ready to come to you to discuss how we can help get you into your first home.
Dedicated local customer service
As a mutual bank, our members are our shareholders, and we strive to deliver them the best service, value and innovations.
Available anywhere in Australia
Wherever you are in Australia, our team of home loan specialists can help you get into your first home sooner.

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Damian and Elissa from Newcastle

Buying our first home with IMB

When Damian and Elissa were ready to buy their first home, things got tricky with their previous financial institution. “We quite quickly needed to get our finances sorted,” Damian says. “They weren’t clear on how much money we needed in order to get a loan and left out key details.”  

“As we got into the process, they said we’d need money upfront for lenders mortgage insurance, which threw a spanner in the works,” Elissa explains.

Damian and Elissa got in touch with Vanessa Muddiman, an IMB Mobile Lender in Newcastle. “Vanessa mapped out all the steps for us” says Elissa. “It really eased our minds to know that Vanessa was all over the process and going to let us know what to do at each step.”

With IMB, the couple had their loan application approved and have since moved into their new home. Vanessa has stayed in touch since and subsequently helped the couple take advantage of a lower interest rate on their mortgage. “That was really good because we were so busy at the time with our newborn that we didn’t even think to look at our rate. It was so fantastic of her to go above and beyond in that way,” Damian says.

 

IMB by numbers

1880

The year we were established

210,000

Members

$11 million

Given to over 850 community projects

Talk to a home loan expert

They will answer any of your questions and assess your situation. This can be at your local branch, on the phone or we can come to you.

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Important Information
# Conditional approval is given to successful applicants and is valid for 90 days. Conditions include the provision of verification documents and security satisfactory to IMB.

Why choose us?

Established in 1880, IMB Bank is one of the most enduring financial institutions in the country, helping people achieve their financial goals for over 140 years. Our members can access a fully featured range of services: home and personal lending, savings and transaction accounts, term deposits, business banking, and more.

Our renowned personal service is backed by innovation, providing convenient, secure digital banking options where and when you want it. IMB also has a growing retail branch network throughout NSW and Victoria, for when you need to speak to someone in person, and a team of professionals at our locally based contact centre. We have a lending specialist in every branch and a team of mobile lending specialists who will come to you.

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