First Home buyer

There’s a lot to get your head around when it comes to buying your first home. From deposit amounts to the approval process and final settlement, the path to homeownership can be confusing. The good news is we are here to help.

First Home buyer 4-step checklist 

With this simple checklist, we want to make buying your first home less confusing. 

1

Check your credit score

Your credit score is unique, and something finance providers check when you apply for home finance. Once you know how you score, you can then take steps to build a improve your credit score if you need to. You can access your credit score and credit report using these free resources: Experian, illion, Equifax.
Check your credit score
2

Work out your deposit

Most home purchase arrangements require a minimum of a 20% deposit based on the property's value.
Work out your deposit
3

Check your eligibility and apply for first home buyer entitlements

The size and type of first home owner grant  (if you are eligible) will be based on a number of requirements such as the value of the home and residency requirements after purchase. Check out firsthome.gov.au for more information. 
Check your eligibility and apply for first home buyer entitlements
4

Register your interest

Speak with us about the amount of finance you might be able to obtain from one of our home finance experts.

You can get indicative approval for your home finance by registering your interest with Crescent Finance.

Register your interest

Need help with the difference between home finance and mortgages?

You’re not alone. That’s why we’ve put together an explainer of what home finance is and why it might be the right solution to align with your values and beliefs. 

Next steps

Register your interest now!

Applying for home finance with us is simple and is an easy three step process

Register your interest now!

Crescent Finance Options

To illustrate this, let’s look at the two forms of home finance that Crescent Finance offers:

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Crescent Growth Fund

This employs the Islamic concept of Musharakah, which is a form of co-ownership between the home buyer and the financial institution. Effectively, both parties agree to invest in a property and buy the home together. So, the home financing is structured as an investment in which both parties share profit and loss.  

Ownership under this Crescent Finance model is held by a special purpose vehicle – our partner Domacom’s platform allows for fractional ownership of property – with the home buyer listed as a “tenant in common” along with a professional trustee. The home buyer then buys out Crescent Finance’s stake in the property, while paying a fee to use the part of the property still owned by Domacom.

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Crescent Income Fund

This employs the Islamic concept of Ijara, which is basically a lease-to-own arrangement. Crescent Finance purchases the property and the home buyer rents it.

A portion of each rental payment goes toward the tenant’s future ownership of the property. The home is registered in the buyer’s name when repayment is complete.