First Home Buyers

Your first home starts here.

Buying your first home is exciting — and we're here to make sure it's not overwhelming.

We get it — buying your first home can feel like a maze of jargon, paperwork, and big numbers. That's exactly why we exist. We take the time to understand where you're at, explain everything in plain English, and guide you through every step — from working out what you can afford, to getting the keys.

Whether you're saving for a deposit, exploring government grants, or ready to start looking — we'll help you build a clear plan.

Key areas to think about

If you're getting started, these pointers might help.

Know your numbers

Before you start browsing listings, get a clear picture of what you can borrow. Your income, expenses, existing debts, and savings all play a role. A quick chat with us can give you a realistic budget — so you know exactly where you stand.

Government support

There are more grants and schemes available right now than ever before. The First Home Guarantee lets you buy with just 5% deposit and no LMI. State grants range from $10,000 to $50,000. We'll identify every scheme you're eligible for and help you stack them.

The right structure

It's not just about the interest rate. Offset accounts, fixed vs variable splits, and repayment strategies can save you tens of thousands over the life of your loan. We help you set up your loan correctly from day one.

How we can help

Understanding your position

We review your income, savings, and goals to give you a clear borrowing estimate and identify which grants and schemes apply to you.

Finding the right loan

We compare options across our lender panel to find a loan that fits — not just the lowest rate, but the right structure for your situation.

Guiding you to settlement

From pre-approval through to getting the keys, we handle the process and keep you informed at every step.

First Home Buyers — Frequently Asked Questions

The standard minimum deposit is 20% of the purchase price to avoid Lenders Mortgage Insurance (LMI). However, first home buyers have several pathways to buy with much less. The First Home Guarantee scheme lets eligible buyers purchase with just a 5% deposit and no LMI. Some lenders offer professional packages with reduced LMI requirements for specific occupations. And there are family guarantee structures where a parent's equity can effectively cover part of the deposit. The right path depends on your savings, income, and the property price — we'll model the options on our first call.

The First Home Guarantee (FHBG) is a federal government scheme that allows eligible first home buyers to purchase with a 5% deposit and no LMI. The government effectively guarantees the gap between your deposit and the 20% threshold. Eligibility includes income caps ($125k single, $200k couples), property price caps that vary by region and capital city, and a requirement that you've never owned property in Australia. Places are released annually and can run out, so timing matters.

Three main ones, and they can sometimes stack: the NSW First Home Buyer Assistance Scheme provides a full stamp duty exemption for purchases up to $800,000 (and concessional duty up to $1 million); the NSW First Home Owner Grant is a $10,000 grant for newly built homes up to $750,000; and the federal First Home Guarantee allows a 5% deposit with no LMI. We map every scheme you're eligible for and structure the purchase to capture all of them where possible.

LMI is insurance the lender takes out (and charges you for) when you borrow more than 80% of the property value. It protects the lender if you default — it doesn't protect you. On a $1m purchase with a 10% deposit, LMI can easily cost $15,000 to $30,000. Ways to avoid LMI include saving a 20% deposit, using the First Home Guarantee scheme, a family security guarantee, or qualifying for professional package LMI waivers (available to doctors, accountants, lawyers and a few other categories).

Borrowing capacity depends on your income, expenses, existing debts, dependents, and the lender's serviceability assessment. As a rough benchmark, a single PAYG earner on $100k with no other debts and modest expenses might borrow $550k–$650k. A couple on combined $200k might borrow $1.0m–$1.2m. These numbers shift significantly with credit cards, HECS debt, car loans, and lifestyle expenses. We can run a precise calculation on our first call and identify which lender will give you the strongest result.

Pre-approval (sometimes called conditional approval) is the lender's confirmation that you qualify to borrow up to a certain amount, subject to finding a property and meeting final conditions. It's what you take to auctions or use as evidence to estate agents. Unconditional approval (or formal approval) is the lender's final commitment to lend against a specific property after the valuation and contract have been reviewed. Pre-approval typically takes 3–10 business days; unconditional approval takes a further 5–15 business days after you have a signed contract.

Most pre-approvals are valid for 90 days. Some lenders extend this to six months, and some can be refreshed without a full reassessment. Pre-approval doesn't lock in a rate — the rate at settlement is whatever's current at that time. If your situation changes (new job, new debts, large purchases) during the pre-approval period, the lender may want to reassess.

Yes. Joint applications between partners are the most common path. Buying with a family member (parents, siblings) is also possible but has tax and ownership implications worth working through carefully — for instance, only the proportional owner-occupant share may qualify for stamp duty concessions, and the structure affects how the property is treated for CGT and lending in future. There are also "guarantor" structures where a parent provides security against their own property to help with the deposit, without becoming a co-owner. We work through the options with you, ideally alongside your accountant.

No. Pre-approval with one lender doesn't lock you in. If your situation changes or a better option emerges, you can apply formally with a different lender. That said, switching lenders mid-process restarts the timeline, so we'd only recommend it if there's a clear reason.

There's no universal answer — it depends on property price growth in your target area, your income trajectory, your savings rate, and whether you qualify for schemes that let you buy with less. A simple rule of thumb: if property prices in your area are growing faster than you can save additional deposit, waiting costs you money. If they're flat or falling, the maths can run the other way. We'll model the breakeven for your situation rather than give a generic answer.