Sign in Choose a hub
Menu
Starter course

Finance · Money admin

Buying your first home: how mortgages work for a first home buyer

Buying your first home, in six short lessons: the buying process, deposits and upfront costs, how repayments work, fixed and variable rates, comparing loan offers, and what to do if repayments get hard. Links to official tools by country (US: CFPB interest-rate tool; UK: MoneyHelper mortgage calculators; AU: Moneysmart mortgage calculator), with country panels for Australia, the UK and the US.

trainyourselfCourse guide · step-by-step lessons
Welcome0% complete

About this course

how mortgages work for a first home buyer.

Starter · About 1 hour of learning · 6 lessons · 15 quick checks · 1 download

  • Who it's for

    First home buyers in Australia, the UK, the US and elsewhere who want to understand deposits, mortgages and the buying process before they speak to a lender.

  • How it works

    6 guided lessons in your browser, with worked examples, exercises and a quick check after each lesson. Progress is saved in this browser only, and you can restart at any time. Lesson 1 is open to everyone, and you can take one whole course without an account. After that, a free account lets you continue past lesson 1.

  • Sources we rely on

    31 published sources, mostly regulators and official bodies, listed below so you can check the original guidance yourself.

By the end you can

  • Describe the stages of buying a home and use your country’s official mortgage calculator
  • Work out a loan-to-value ratio and list the upfront costs of buying
  • Explain how a repayment splits and how the term and rate change the cost
  • Compare two loan offers using the official documents
  • Know the first steps and official help if repayments get hard

Downloads

Rules by country

Australia
Moneysmart mortgage calculator; LVR above 80% may mean lenders mortgage insurance; stamp duty set by each state; Key Fact Sheet and comparison rate; the 5% Deposit Scheme and FHSS (rules change); hardship requests answered within 21 days; AFCA for disputes.
United Kingdom
MoneyHelper mortgage and affordability calculators; lenders typically cap borrowing at 4.5 times income; SDLT first-time buyer relief in England and Northern Ireland (thresholds change); Lifetime ISA; ask about early repayment charges before you fix.
United States
CFPB Explore interest rates tool and home buying guide; PMI under 20% down on conventional loans; Loan Estimate within three business days; Closing Disclosure three business days before closing; HUD-approved housing counselors.

Learning time

About 1 hour of learning. May count towards your CPD or professional development; check your professional body's rules. Estimated from reading time, exercises, quick checks and downloads.

Sources

Check the originals.

Drafted with AI assistance and run through automated quality and source checks. How these courses are made. Spotted an error or out-of-date rule? Send a correction.

General information only, not financial advice. We don't recommend financial products.

Publisher

Who publishes this course.

Published by trainyourself.org, a trading name of Combine TRS Pty Ltd (ABN 42 112 983 678), Brisbane, Australia.

How it's made: drafted with AI assistance from published regulator, government and official money guidance, then run through automated quality checks against our course depth standard and automated source checks that match each rule to its official source, listed above. Read how these courses are made.

Last updated:

General information only, not financial, credit, tax or legal advice. Spotted an error or an out-of-date rule? Send us a correction.

Keep going

More in Money admin.

All courses in this topic

  • 6 lessons · 13 quick checks · about 1 h · downloads

    Budgeting for beginners: the 50/30/20 rule

    Budgeting for beginners: track expenses, use the 50/30/20 rule, zero-based and envelope budgets, and AI tools safely without bank logins. Template included.

  • 6 lessons · 13 quick checks · about 1 h · downloads

    Credit scores: how they work and how to improve yours

    Credit score basics: what goes into a score, how to get your credit reports from the official source, fix errors and build better habits. AU, UK and US rules.

  • 6 lessons · 13 quick checks · about 1 h · downloads

    How loans work: credit cards and buy now, pay later

    How do loans work? Interest, APR and comparison rates, credit cards, personal and car loans, and buy now, pay later, with AU, UK and US rules and official help.

  • 6 lessons · 12 quick checks · about 1 h · downloads

    How to negotiate your salary: a step-by-step guide

    How to negotiate salary: research pay with official BLS, ONS and ABS data, know your pay rights, plan your ask and get the offer in writing. AU, UK and US.

  • 6 lessons · 13 quick checks · about 1 h · downloads

    How to save money: cut bills and build an emergency fund

    How to save money: sort your spending, cut bills, build an emergency fund, compare savings accounts and use compound interest. A course for AU, UK and US.

  • 6 lessons · 14 quick checks · about 1 h · downloads

    Money management basics for your first job: payslips, tax and your first budget

    Money management basics for your first job: read a payslip, tax and retirement deductions, set up accounts, a first budget and an emergency fund. AU, UK and US.

  • 6 lessons · 14 quick checks · about 1 h · downloads

    How to pay off debt: snowball vs avalanche

    How to pay off debt: list your debts, compare the snowball and avalanche methods with worked examples, talk to lenders and find debt help in AU, UK and US.

Opening soon

Waitlist opening soon.

We're not collecting sign-ups yet. When the waitlist opens you'll be able to leave your email here to hear about new courses and tracks. Until then, the open courses need no sign-up.

This form is switched off, so nothing you type here is sent or stored.