Your First Home Buyer Guide Podcast

Veronica Meighan
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THE First Home Buyer Course. Get there without missing a step.

  1. 2d ago

    What Banks Look At Before Approving Your Home Loan

    You've done the maths. You know your income, you've been saving, and you have a rough idea of what you can borrow. Then the bank gives you a completely different number. In this episode, mortgage broker Jack Elliott returns to explain how lenders really assess borrowing capacity. From income, genuine savings and credit cards to HECS, Afterpay, bank statements and even the property you're buying, you'll learn why two lenders can reach very different outcomes for the same borrower. Whether you're planning to buy your first home soon or simply want to understand how banks make lending decisions, this episode will help you prepare with confidence and make smarter choices before you apply for a home loan. Episode Highlights03:25 – How Banks Assess Your Income 09:38 – What Banks Look For in Your Savings 12:19 – How Debts Affect Your Borrowing Capacity 17:16 – How Banks Assess Your Spending Habits 21:08 – What Banks See in Your Credit History 25:26 – Why the Property Matters to Your Home Loan 30:12 – Just Because You Can Borrow More Doesn't Mean You Should 33:30 – When to Speak to a Mortgage Broker Connect with JackBook a Get To Know You Chat with Jack Website | First Home Unlocked Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    What Banks Look At Before Approving Your Home Loan

  2. Jul 14

    From Priced Out to First Home Owner (Case Study)

    Buying your first home rarely goes exactly to plan. You might have your deposit saved, your dream suburb picked out, and a clear picture of the property you want—only to discover the market has other ideas. In this episode, Home Buyer Academy graduate Tim shares the real story behind his first home purchase. From saving his deposit and researching the market to being priced out of his preferred property type, Tim explains how staying flexible and trusting a structured buying process helped him achieve his goal. Together with Veronica and Meighan, they unpack the lessons learned along the way, including dealing with underquoting, adapting to changing market conditions, navigating auctions, and making confident decisions without letting emotions take over. If you're preparing to buy your first home, this episode offers practical insights into what the journey really looks like—and why having the right knowledge and mindset can make all the difference. Episode Highlights 01:03 – Meet Tim and His First Home Buying Journey 03:46 – The Saving Habits That Fast-Tracked Tim's Deposit 07:03 – Why Investing in Education Paid Off 10:42 – The Market Reality Every First Home Buyer Faces 16:44 – What Every Property Inspection Taught Tim 20:39 – How Flexibility Helped Tim Find the Right Home 27:41 – The Budget Twist That Changed Everything 33:04 – Life After Buying: What's Next for Tim? 37:01 – Tim's Biggest Advice for First Home Buyers 39:50 – Why Community Makes the Journey Easier 42:33 – Final Thoughts and Episode Wrap-Up Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    From Priced Out to First Home Owner (Case Study)

  3. Jul 7

    5% Deposit, 95% Loan: What Buyers Need to Know

    Buying your first home with just a 5% deposit sounds like the shortcut many buyers have been waiting for. But while the scheme can help you enter the market sooner, borrowing 95% of a property's value also comes with risks that every first home buyer needs to understand. In this episode, Veronica and Meighan are joined by Jack Elliott from Alcove Mortgages to unpack how the 5% Deposit Scheme really works, who can access it following the latest rule changes, and why buying under a government scheme doesn't automatically mean you're making a good property decision. You'll learn why price caps matter, how Lenders Mortgage Insurance (LMI) fits into the picture, what upfront costs many buyers overlook, and why having cash buffers and a long-term plan can be just as important as saving your deposit. If you're considering buying with a 5% deposit, this episode will help you understand the opportunities, the risks, and how to decide whether this pathway is the right fit for your situation. Episode Highlights01:48 – Why the 5% Deposit Scheme Is So Popular 05:16 – Why Banks Charge Lenders Mortgage Insurance 08:06 – Who Can Use the 5% Deposit Scheme? 12:45 – Which Lenders Offer the 5% Deposit Scheme? 16:28 – How to Protect Yourself With a 95% Home Loan 21:24 – Is the 5% Deposit Scheme Right for You? 24:26 – Join Our First Home Buyer Community Connect with JackBook a Get To Know You Chat with Jack Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    5% Deposit, 95% Loan: What Buyers Need to Know

  4. Jun 30

    First Home Buyer Grants Explained Without the Hype

    First home buyer grants, stamp duty concessions, shared equity schemes, 5% deposit pathways–there’s more support available than ever before. But are these incentives actually helping you make better property decisions? In this episode, mortgage broker Jack Elliott returns to break down the grants, concessions, and buyer schemes available across Australia. We cover how stamp duty relief works in each state, who qualifies for the First Home Owner Grant, and what buyers need to know about shared equity programs and low-deposit pathways. More importantly, we unpack one of the biggest mistakes first home buyers make: allowing incentives to drive their property decisions. While grants and concessions can reduce upfront costs, they can also tempt buyers into compromising on location, property quality, or long-term growth potential. If you're trying to understand what support is available and how to use it wisely, this episode will help you cut through the noise, avoid common traps, and make decisions that support your long-term goals—not just your short-term savings. Episode Highlights01:44 – Meet Jack: Understanding Buyer Incentives 04:41 – The Stamp Duty Trap First Buyers Miss 09:42 – First Home Owner Grant Explained 18:26 – Low Deposit Pathways Explained 23:28 – Shared Equity: The Trade-Offs to Know 28:46 – Choosing the Right Scheme for Your Goals 30:24 – How to Use Incentives the Right Way 32:49 – Join the Community & Keep Learning Connect with JackBook a Get To Know You Chat with Jack Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    First Home Buyer Grants Explained Without the Hype

  5. Jun 23

    New Property Checks Every First Home Buyer Should Know

    Buying a property is about to involve more paperwork than many buyers expect. From July 2026, Australia's anti-money laundering reforms will introduce new checks for property transactions. That means first home buyers may be asked to provide identification, bank statements, gift letters, inheritance records, and evidence showing where their deposit funds came from. In this episode, Veronica and Meighan break down what the new property buying rules mean in practice, why these changes are being introduced, and how buyers can prepare before signing a contract. They explain the documentation that may be required, the situations that can trigger additional questions, and the simple steps that can help you avoid unnecessary delays during settlement. If you're planning to buy your first home in the next few years, this episode will help you understand what's changing and how to stay one step ahead. Episode Highlights01:52 – Why Property Buyers Are Facing New Checks 03:36 – The New Property Rules Starting in 2026 06:29 – What Triggers Extra Questions and Scrutiny? 10:19 – When Will Buyers Be Asked for Documents? 13:26 – The Biggest Misunderstandings Buyers Have 16:46 – How These Changes Could Benefit Buyers 18:28 – Your Property Compliance Checklist 21:02 – How to Prepare Before You Buy Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    New Property Checks Every First Home Buyer Should Know

  6. Jun 16

    Why Your Finance Strategy Should Start Early

    Most first home buyers wait until they feel “ready” before speaking to a mortgage broker. But what if that decision is actually delaying your plans by months—or even years? In this episode, we’re joined by Jack Elliott from Alcove Mortgages to unpack one of the most common mistakes first home buyers make: coming to the finance conversation too late. We explore what a broker actually does, why the best time to get advice is often much earlier than you think, and how a simple conversation can reveal opportunities you didn’t know existed. We also discuss the latest lending and policy changes affecting first home buyers, including borrowing capacity, rentvesting strategies, guarantor options, and how recent budget announcements are already influencing buyer behaviour. If you're saving for a deposit, wondering how much you can borrow, or trying to work out when to take the next step, this episode will help you build a clearer plan and move forward with more confidence. Episode Highlights00:15 – Meet Jack: First Home Buyer Finance Expert 01:38 – The Cost of Waiting Too Long for Finance Advice 04:25 – The Budget Changes Every Buyer Should Know 09:05 – The Rentvesting Strategy That Stopped Working 12:18 – Why Earlier Finance Advice Creates More Options 14:25 – The Questions a Good Broker Should Ask 16:45 – Don't Buy a Home You'll Outgrow Too Soon 21:14 – What Mortgage Brokers Really Do Behind the Scenes 23:18 – Why Good Brokers Don't Disappear at Settlement 26:25 – Lessons From Jack's First Property Purchase 29:01 – Three Actions to Take Before You Buy 32:19 – Final Takeaways for First Home Buyers Connect with JackBook a Get To Know You Chat with Jack Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    Why Your Finance Strategy Should Start Early

  7. Jun 9

    What Shared Equity Means for Your Future Plans

    Shared equity schemes are becoming one of the most talked-about pathways into homeownership. Lower deposits, smaller loans, and the chance to buy sooner can sound incredibly appealing—but what are you giving up in return? In this episode, Veronica and Meighan unpack how shared equity schemes actually work, who they're designed for, and the trade-offs many buyers don't fully understand until years later. They explore how government ownership stakes affect your future equity, why property selection matters more than the scheme itself, and the hidden risks that can emerge when it's time to refinance, upgrade, or sell. You'll also learn why buying sooner isn't always better, how price caps can influence your property choices, and the key questions every first home buyer should ask before signing up. If you're considering a shared equity scheme, this episode will help you understand whether it's a smart stepping stone—or a decision that could limit your future options. Episode Highlights01:42 — How Shared Equity Actually Works 03:34 — The Trade-Off Most Buyers Overlook 06:38 — The Price Cap Trap Explained 08:29 — The Hidden Cost of Exiting the Scheme 11:06 — The Fine Print That Can Cost You 14:04 — When Shared Equity Can Actually Work 17:26 — 7 Questions to Ask Before Signing Up 19:30 — Should You Use Shared Equity? Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825 Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    What Shared Equity Means for Your Future Plans

  8. Jun 2

    Auction Day Risks First Home Buyers Must Know

    You’ve found the one. The suburb works, the layout feels right, and auction day arrives. But what happens if you win… and your loan doesn’t go through? In this episode, we break down the real risks of buying at auction—especially when relying on pre-approval. From valuation shortfalls to lender restrictions and changes in your financial situation, there are several ways a deal can fall apart after you’ve already committed. We walk through what “unconditional” really means, why auction contracts carry more risk than most buyers expect, and how quickly things can escalate if your finances don't stack up. You’ll also hear practical examples of how buyers can end up needing to find large sums of money in a short timeframe—or risk losing their deposit. This episode will help you understand the risks clearly and prepare properly before auction day, so you can make confident decisions and avoid costly mistakes. Episode Highlights01:29 – Why Pre-Approval Doesn’t Guarantee Your Loan 03:38 – What Unconditional Really Means at Auction 05:28 – Preparation vs Risk: Why It Matters Before You Bid 07:05 – The Checks You Must Do Before Auction Day 09:03 – The Valuation Gap That Can Cost You Thousands 13:42 – Staying Disciplined When Emotions Take Over 16:26 – Key Takeaways Before You Step Into an Auction 20:24 – Final Thoughts and How to Keep Learning MentionsAuction Ready by Veronica Morgan (book)How to Price a Property (Mini Course) Course Details:THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourseSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

    Auction Day Risks First Home Buyers Must Know
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THE First Home Buyer Course. Get there without missing a step.

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