First home buyer in Australia?

Question

OK, i'm looking to buy a home soon, i recently got a new job and previously to that i was unemployed for afew months, so how long do you have to have stable employment to apply for a home loan?
Also i only want to buy an apartment, studio or unit (i'm gonna be the only one living there) but my job is a low income job, i only make like $25,000 a year, how much of a loan could i get with my income?.
I live in Adelaide South Australia, living with my dad at the moment, hoping to move soon.

I'm also 23 yrs old, got not kids

I'm also 23 yrs old, got no kids

i also don't have any other loans, i'm not paying a car off, i don't really understand about credit either coz i don't (and never have) owned a credit card, i think they're evil.

Answer 1

$100k to $120k you would need a large deposit.
The amount you can borrow is determined by your ability to repay at a rate of 25 % of your take home income.
A lot of factors can change the figure eg car payments or other debts.
Good luck

Answer 2

you have gotta examine the effective print while making use of for the grant. From what I undergo in strategies from as quickly as we utilized for the grant (we had to inn particular papers because it replace into being offered from kinfolk) in case you have inherited a components you're already a house proprietor and not eligible for the grant. i've got faith which you would be waiting to combat this in case you have been unaware that the valuables replace into on your call, yet once you knew that the valuables replace into yours then you definately will would desire to pay the a reimbursement. In Queensland, the eligibility consists of which you or your significant different don't have held any activity in a components which contain a condominium earlier a million/7/00, yet maximum suitable to double verify with your state relating to the regulation. solid good fortune to you!

Answer 3

i earn 44k a year in perth, and they wont give me a loan
good luck