First Home Buyer
Resources

Are you looking to buy your first home in 2026?

Start here to find helpful resources all in one place.

This page is built specifically for First Home Buyers and aims to help those in Regional + Rural Australia get the answers they need when it comes to buying your first home. Below, you’ll find information about Home Loans, Deposits, Borrowing Capacity, Government Schemes, Stamp Duty exemptions + more!

Most first home buyers want to know three things.

→ How much deposit do I need?

→ How much can I borrow?

→ What other costs are involved?

You’ll find the answers to all 3 (and more) below.

DEPOSITS + STAMP DUTY.

→ Deposits. As first home buyers in Australia, you can buy with a 5% deposit (or as little as a 2% for single parents). The most common scheme is the Australian Government 5% Deposit Scheme. This enables you to buy with a 5% deposit on the purchase price of the house. Each state and territory has a different price limit on the property you can buy. Find details here.

→ Stamp Duty. You may receive a partial or full stamp duty exemption depending upon your state, the property you’re purchasing and your purchase price. Click your state below to find information specific to your situation. If you’re still not sure, reach out for a chat.

NSW | VIC | ACT | QLD | SA | WA | NT | TAS

→ Example.

Purchasing a $700,000 home in Regional NSW.

Deposit required: 5%. $35,000
Stamp Duty: $0. Exemptions below $800k in NSW.
Other costs to consider: Pest + Building inspection, Solicitor / Conveyancer, Moving Costs, Home + Contents Insurance

You can receive gifts from family towards your deposit.

BORROWING POWER

→ Online calculators can be a useful guide, however can also be misleading. The only true way to get an accurate assessment of your borrowing power is by speaking with a mortgage broker. We can compare your situation across 30+ lenders and find a lender most suitable to your goals + objectives. You can get a fully assessed pre-approval to confirm your borrowing power.

Banks consider:

• Income
• Living expenses
• Existing debts + liabilities
• Employment history
• Property location + type
• Credit History

Regional + Rural properties can be assessed differently, based on the property type and the postcode.

To receive an accurate borrowing estimate, complete this form in under 2 minutes to get started.

FIRST HOME OWNER GRANTS.

→ First Home Owners Grant. You may be eligible for cash contributions by way of a First Home Owners Grant. These vary state-to-state and are regularly updated or changed. For the most up to date information, contact us.

GUARANTORS

If someone in your immediate family (parents, typically) owns a property, they may be able to be guarantor for you.

This allows you to:

→ Buy with little or no deposit
→ Avoid Lenders Mortgage Insurance (LMI)
→ Enter the market sooner

The guarantor does not provide you cash, they provide the bank equity in their property as security.

This can be a helpful strategy in the right situation, but it needs to be structured carefully so everyone understands the risks and responsibilities. It is, in my opinion, best suited to higher income earners who for various reasons have not been able to save a deposit.

→ Not sure if a guarantor arrangement could work for you? I’m happy to explain how it works in plain English.

FIRST HOME SUPER SAVER SCHEME (FHSSS)

This scheme allows you to make voluntary contributions into your super and later withdraw them to help fund your first home deposit.

Potential benefits include:

• Tax advantages on contributions
• Structured savings
• Potentially faster deposit growth

This is best suited to you if you are early in your savings journey. Can be done as an individual, or as a couple.

FREQUENTLY ASKED QUESTIONS (FAQ)

Here are some common questions First Home Buyers ask. If you can’t find your answers below, reach out to us for a chat.

Do I need to be in my job long term before applying?

Short answer is not always. Some lenders are happy with as little as 1 payslip for a Part-time or Full time employee. Banks will consider your employment history overall. Stability and consistency is beneficial, but not absolutely critical.

Can I buy if I’m working casually?

Yes, absolutely. Most lenders will want 6 - 12 months history in the role.

Some lenders are more flexible than others and have favourable casual policies.

Is Fixed or Variable rates better?

This will be specific to your situation, now and in to the future.

→ Fixed rates offer certainty in repayments, security and protection if interest rates rise. Think, peace of mind.
→ Variable rates offer flexibility, access to offset accounts, benefits if interest rates decrease.

It’s best to discuss the pro’s + con’s with a broker to determine what’s more suitable for you.

What is an offset account ?

Offset accounts have become increasingly popular of late. An offset account is a transaction account linked to your home loan.

The balance sitting in the offset account reduces the interest charged on your loan.

For example:
Loan balance: $500,000
Offset balance: $20,000
Interest charged as if you owe $480,000

This can reduce your loan term by years and reduce your interest payable by hundreds of thousands of dollars.

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