Your First Home Starts Here – We’ll Guide You Every Step of the Way
Buying your first home can feel overwhelming – but it doesn’t have to be. We’re here to make the process simple, clear, and tailored to your unique situation.
We’ll help you:
- Work out how much you can borrow
- Understand the full costs of buying a home (including the ones you might not expect)
- Explore government grants, guarantees and stamp duty concessions
- Compare home loan options that fit your goals and objectives.
Whether you’re:
- PAYG or self-employed
Buying solo or with a partner - Using a guarantor, needing LMI or saving a deposit
- Have a clear credit history or some past issues
… we’ll take the time to understand your needs and help you make confident decisions.
Ready to take the first step?
First Home Buyer FAQs
I’m a first home buyer—where do I start?
The first step is understanding what you can afford and how the process works. We’ll help you work out your borrowing capacity based on your income, expenses, and financial goals, and talk you through what a deposit might look like. Then we’ll help you get pre-approval, so you can start house-hunting with confidence. You’ll know your budget and be in a stronger position to make an offer when you find the right place.
How much deposit do I need to buy my first home?
It depends on the lender, the loan, and your financial situation. Generally, a deposit of 5% to 20% of the property value is required. If your deposit is under 20%, lenders mortgage insurance (LMI) may apply—but there are government schemes that can help eligible buyers avoid LMI with as little as a 5% or even 2% deposit. We’ll explain what options are available to you and help structure your loan accordingly.
What is lenders mortgage insurance (LMI), and how can I avoid it?
LMI is a one-off insurance premium that protects the lender—not you—if you default on your loan. It typically applies if your deposit is less than 20%. However, if you’re eligible for a government scheme like the First Home Guarantee, you may be able to buy with a smaller deposit and avoid paying LMI altogether. We’ll let you know if you qualify and how much you can save.
What government schemes or grants are available for first home buyers?
There are several national and state-based schemes to help first home buyers enter the market, including:
- First Home Guarantee (FHBG): Buy with just 5% deposit and no LMI.
- Family Home Guarantee: For single parents—buy with just 2% deposit.
- Regional First Home Buyer Guarantee: Supports buyers in regional areas.
- First Home Owner Grant (FHOG): A cash grant for eligible buyers, usually for new builds or substantially renovated properties.
- Stamp duty concessions or exemptions: Offered in many states for eligible first home buyers.
We’ll walk you through what’s available based on your situation and location and help with the paperwork.
Should I get pre-approval before I start house hunting?
Yes—getting pre-approval is one of the most important steps. It tells you what you can afford, shows sellers you’re serious, and helps avoid disappointment. We’ll handle the application with the lender and explain what’s required to get it over the line.
Can I still get a loan if I have a HECS/HELP debt?
Yes. Having a student loan doesn’t prevent you from getting a home loan. However, typically lenders will treat your repayments as part of your regular expenses, which can slightly reduce your borrowing power although this varies from lender to lender. We’ll factor this into your assessment and recommend lenders that are more favourable for your situation.
What costs should I expect beyond the deposit?
In addition to your deposit, you’ll need to budget for things like stamp duty (unless exempt), legal fees, building and pest inspections, moving costs, and possibly lender fees. We’ll help you estimate these upfront so there are no surprises along the way.
What happens after I make an offer on a property?
Once your offer is accepted, we’ll submit the full loan application to the lender. If you have pre-approval, things can move quickly. The lender will conduct a valuation and, if everything checks out, issue a formal approval. We’ll stay by your side through to settlement—liaising with your conveyancer, lender, and any other parties involved.
Can I use a guarantor to help me buy my first home?
Yes. A guarantor—usually a parent—can use the equity in their property to help secure your loan, which can reduce or eliminate the need for a deposit or LMI. There are risks and responsibilities involved, so we’ll help everyone understand the implications and structure the loan safely.
What if I’m buying with a partner or friend?
You can absolutely buy with another person. Some government schemes require that both applicants are first home buyers and meet income thresholds. We’ll help structure the ownership and loan correctly, and make sure any scheme applications are done properly.
