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First Home Buyer Loans
First Home Buyer Mortgage Broker in Australia
Buying your first home is one of the biggest decisions you’ll make. There are grants, concessions and lender-specific policies that many first home buyers don’t know exist — and a good broker makes sure you don’t miss out.
Overview
What Does a First Home Buyer Loan Look Like?
A first home buyer loan is fundamentally a standard residential home loan — but if you’re buying for the first time, there are state and federal concessions that can significantly reduce your upfront costs. Understanding how each of these works, who’s eligible and how they stack is part of what we do for every first home buyer we work with.
Each state and territory in Australia offers its own First Home Owner Grant for newly-built homes. The amount, the property price cap and the eligibility rules vary state-by-state. We’ll confirm what’s available in your state, whether you qualify, and how to claim it at settlement.
Most states also offer stamp duty (transfer duty) concessions or exemptions for first home buyers buying under a price threshold. These can save you tens of thousands — but they come with occupancy and timing conditions. Your conveyancer and your broker both need to be across them.
Beyond grants and concessions, the right lender for a first home buyer is often not the lender with the lowest headline rate. Loan-to-value ratios, lenders’ mortgage insurance pricing, family pledge / guarantor acceptance, and policy on genuine savings all matter — and they all vary between lenders.
Key Features & Benefits
What First Home Buyers Can Access
State First Home Owner Grants
Newly-built homes attract a First Home Owner Grant in most states and territories. We’ll confirm the current amount in your state, the price cap that applies and whether the property qualifies.
Stamp Duty Concessions
Many states waive or reduce stamp duty (transfer duty) for first home buyers under a threshold. We’ll calculate exactly what you’ll save on your specific purchase before you sign.
Up to 95% LVR Options
If you don’t have a 20% deposit, several lenders on our panel will lend up to 95% LVR with lender’s mortgage insurance — and we’ll show you the LMI cost in dollars before you decide.
First Home Super Saver Scheme
Save for your deposit inside your superannuation — contributions taxed at 15% rather than your marginal rate — then withdraw up to $50,000 to use as your deposit.
Guarantor Option
If a parent or family member has equity in their own home, they can act as a guarantor — often allowing you to borrow without LMI and without a 20% deposit.
Pre-Approval to Shop with Confidence
Getting pre-approved before you start inspecting means you know your real budget, you’re taken seriously by agents and you can act fast when you find the right property.
Is This Right for You?
Are You a First Home Buyer?
The Process
How the First Home Buyer Process Works
Initial Consultation
We sit down with you (in person or via video) to understand your situation, confirm your grant and concession eligibility, and explain your deposit and borrowing options in plain English.
Borrowing Power Assessment
We work out your realistic borrowing capacity — taking into account your income, expenses, HECS debt, existing liabilities and the deposit you’ve saved — so you can search in the right price range.
Pre-Approval
We apply for pre-approval with the right lender — giving you a conditional commitment before you start making offers. Pre-approval is typically valid for 90 days.
Formal Application
Once you’ve found the right property and signed a contract, we upgrade the pre-approval to a formal application, coordinate the valuation and manage the process through to approval.
Settlement
We coordinate with your conveyancer and the lender to ensure a smooth settlement. Any applicable grants are paid at this point. Then the keys are yours.
FAQ
First Home Buyer Questions Answered
How much First Home Owner Grant am I entitled to?
It depends on your state and the type of property. Most states offer grants in the $10,000 to $30,000 range, but only on newly-built homes (not established properties) and only under a price cap. We’ll confirm your exact entitlement in the initial consultation.
Do first home buyers pay stamp duty?
In most states, first home buyers either pay no stamp duty (transfer duty) up to a threshold, or get a reduction on a sliding scale. The threshold and the savings vary by state. We’ll calculate exactly what you’ll pay on your specific purchase.
Can I buy my first home with a 5% deposit?
Yes — through lender’s mortgage insurance (LMI) several lenders on our panel will lend up to 95% LVR. A guarantor arrangement can also allow you to borrow at low deposit levels without paying LMI. We’ll show you the trade-offs between each option in dollars.
What is the First Home Super Saver Scheme?
The First Home Super Saver Scheme lets you save inside super (at 15% tax rather than your marginal rate) and then withdraw up to $50,000 to use as a home deposit. Contributions must be voluntary, and annual limits apply. It can be tax-effective if you start early enough — seek financial advice on whether it suits your situation.
Can my parents help me buy my first home?
Yes — if your parents have equity in their home, they may be able to act as guarantor on your loan. This typically lets you borrow without LMI even with a small deposit. The guarantee can usually be capped to a specific amount, limiting your parents’ exposure. We’ll structure it to protect everyone involved.
Talk to Outlook About Your First Home
Free consultation, no obligation. We’ll confirm your grant eligibility, work out your borrowing power and find the right lender for your situation — at no cost to you.
Get a Free ConsultationRelated
Self-employed first home buyers can combine the First Home Guarantee Scheme with a low doc home loan if their tax returns do not reflect their current income.