First Home Buyer Academy

Welcome

Start Here – Welcome (1 Min)

MODULE 1 - BEFORE YOU PURCHASE

Module 1 – Lesson 1 – Steps in Purchasing Property (10 min)

Module 1 – Lesson 2 – Thinking you are priced out of the market altogether? Think again… (4 Min)

Module 1 – Lesson 3 – Borrowing Power (10 Min)

1 Quiz

Module 1 – Quiz Questions

Feedback – Module 1 (2 Min)

MODULE 2 - THE PREPERATION

Module 2 – Lesson 1 – Do you really need a Pre-Approval? (5 Min)

Module 2 – Lesson 2 – Lenders Mortgage Insurance – What is it? (5 Min)

Module 2 – Lesson 3 – Family Pledge Loans (6 Min)

Module 2 – Lesson 4 – Offset vs Redraw – What is the difference? (4 Min)

Module 2 – Lesson 5 – Professional vs Basic Home Loans – What is the difference? (4 Min)

Module 2 – Lesson 6 – Fixed vs Variable Rate Loans – What is the difference? (4 Min)

1 Quiz

Module 2 – Quiz Questions

Feedback – Module 2 (2 Min)

MODULE 3 - THE HOUSE HUNT

Module 3 – Lesson 1 – What to look for when buying a house (5 Min)

Module 3 – Lesson 2 – Auction vs Private Treaty (6 Min)

Feedback – Module 3 (2 Min)

MODULE 4 - MAKE IT HAPPEN

Module 4 – Lesson 1 – Making an Offer on a Property (5 Min)

Module 4 – Lesson 2 – How to Get the Best Home Loan Deal (7 Min)

Module 4 – Lesson 3 – Cost of Procrastination (4 Min)

Module 4 – Lesson 4 – Resources (2 Min)

Completion & Feedback!

Module 2 – Quiz Questions

First Home Buyer Academy Quiz (4 Min) Module 2 – Quiz Questions

You’re a star, you have completed module 2. But have you been paying attention?

Complete our short Quiz, then it is time for the next module

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Question 1 of 4

1. Question
Generally speaking, what type of pre-approval should you seek?
- A computer OR lender auto-generated pre-approval.
- A fully assessed pre-approval.
- No need to seek a pre-approval until I have purchased a property.
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Question 2 of 4

2. Question
Generally, when do lenders require you to seek mortgage insurance (LMI)?
- When I borrow more than 80% of the properties value
- When I borrow more than 90% of the properties value
- When I borrow more than 82% of the properties value
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Question 3 of 4

3. Question
When should you seek a pre-approval?
- As soon as you have worked out your personal budget, and want to have the ability to make offers on a property.
- As soon as you have had an offer accepted on a property.
- As soon as you have worked out you can afford the loan.
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Question 4 of 4

4. Question
How can you avoid lenders’ mortgage insurance (LMI)? Select the correct answers
- Save enough to have a 10% deposit that will then allow you to borrow 90%.
- Obtain a gift from a family member.
- Family Guarantee/Family Pledge Loan.
- You cannot avoid lenders' mortgage insurance (LMI) as a first home buyer.
- Save enough to have a 20% deposit that will then allow you to borrow 80%.
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Are you a first home buyer? Why not check out our free first home buyer course!

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