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First Home Buyers Loans Secure Your First Time Home Loan Faster

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Home Guarantee & Financial Support Options

Thinking about buying your first home? That’s fantastic!

But between fluctuating interest rates, shifting grant eligibility, and strict deposit requirements, it’s easy to feel lost in the paperwork.

We’re here to simplify the process. Our expert mortgage brokers specialise in first home buyer incentives, ensuring you are optimally positioned to lock in low-deposit government schemes and save thousands.

Steps to Buying Your First Home

Understanding the Process of Purchasing your First Property:

In today’s competitive housing market, securing your dream home can be challenging, especially for first-time buyers. Leveraging a 5% deposit guarantee can significantly ease the financial burden of home buying.

Here’s a step-by-step guide to help you navigate the process:

1. Research the Market

  • Determine your goals: Are you buying a home to live in or as an investment property?
  • Identify preferred locations: Research different areas to understand market trends, property types, and prices.
  • Assess affordability: Look at properties that fit within your estimated budget.
  • Evaluate your financial situation: Use a borrowing calculator to estimate how much you can borrow based on your income and expenses.
  • Set realistic expectations: Focus your property search on homes that align with your borrowing capacity.
  • Account for additional costs: Include expenses such as stamp duty, pest inspections, and legal fees in your budget.
  • Explore available grants and schemes: Check your eligibility for first home buyer grants or deposit schemes.
  • Consider mortgage insurance or guarantors: Understand the implications of lender’s mortgage insurance (LMI) and whether you might need a guarantor.
  • Prepare a detailed budget: Determine how much you can save each month towards your home deposit.
  • Use savings tools: Utilise tools to track your progress and ensure your goals are realistic.
  • Open a dedicated savings account: Separate your savings to minimise spending temptations and maximise interest benefits.
  • Explore different loan types: Decide whether a fixed, variable, or mixed interest rate suits you best.
  • Calculate affordability: Ensure mortgage repayments do not exceed 30% of your after-tax income.
  • Seek expert advice: Consult a lending specialist to help identify the most suitable loan options.
  • Obtain conditional pre-approval: This will enable you to act quickly when you find the right property.

  • Expert Guidance: Get help finding the best first home buyers loans.

  • Compare Loans: Access multiple lenders through one point of contact.

  • Personalised Advice: Tailor options to your situation.

  • Stay Informed: Regularly check listings and cross check the property to ensure it meets the requirements of the loan application.
  • Inspect Properties: Attend open homes, ask plenty of questions.
  • Be Prepared: Have finances in order to make an offer quickly.

  • Work with Your Broker: They’ll help ensure everything is done on time.

  • Meet Deadlines: Some schemes have limited availability.

  • Review Offers: Understand terms and fees.
  • Choose the Right Loan: Select what suits your needs best.
  • Ask Questions: Always clarify anything that’s unclear.

  • Legalities: A solicitor or conveyancer will handle this.

  • Plan Your Move: Notify utilities, organise moving services.

Should You Use a Mortgage Broker?

Expertise in First Home Buyer Loans

Mortgage brokers are like seasoned guides of the loan world.

They:

  • Know the Market Inside Out: They understand which lenders offer the best home loans for first home buyers under the terms and conditions of the guarantee scheme.

  • Simplify the Complexity: Break down loan details into simple steps.

  • Find the Right Fit: Match you with loans that suit your financial situation.

Saving You Time and Stress

Selectabroker Can Save You Time and Stress

Buying your first home can be daunting.

  • We do the Heavy Lifting: Compare loans, handle paperwork, and negotiate with lenders.

  • Offer Insider Knowledge: Provide tips to help you avoid common pitfalls.

  • Help You Dodge Costly Mistakes: Guide you through potential issues that could trip you up.

  • Do the Heavy Lifting: Compare loans, handle paperwork, and negotiate with lenders.

  • Offer Insider Knowledge: Provide tips to help you avoid common pitfalls.

  • Help You Dodge Costly Mistakes: Guide you through potential issues that could trip you up.

Tips for First Home Buyers

  • Act Fast: Some schemes have limited spots.

  • Stay Updated: Grant rules can change.

  • Consult Experts: Brokers can be an invaluable resource.

  • Look at Regional Areas: You might find larger grants or better conditions.

Unlock Your First Home Owner Benefits

Calculate your grant eligibility and savings today!

First Home Grant Calculator

Benefits of Using a Mortgage Broker

Personalised Guidance

Financial Assessment: Understand your full financial picture.

Loan Matching: Find the best home loans for first-time buyers.

Exclusive Loan Access

Special Deals: Access loans not available directly to the public.

Negotiation Power: Brokers may secure better loan terms.

Streamlined Process

Admin Assistance: Paperwork can be a hassle—brokers handle most of it.

Lender Liaison: They communicate with lenders on your behalf.

Maximise Your Benefits

Identify Grants: Don’t miss out on first home buyer grants and the regional guarantee.

Strategic Use of Schemes: Combine different grants and incentives.

First Home Buyers Loans FAQ's

How much deposit do I need to buy my first home?

With the First Home Guarantee you can buy with as little as a 5% deposit and avoid Lenders Mortgage Insurance (LMI), because the government guarantees up to 15% of the property’s value. Single parents may be able to buy with just 2% under the Family Home Guarantee. Without a scheme, most lenders look for around 20% to avoid LMI.

It lets eligible first-home buyers purchase with a 5% deposit and no LMI. As of 1 October 2025 the scheme was expanded — there are no longer income limits or a cap on the number of places, and property price caps were lifted (for example, up to $1.5M in Sydney and $1M in Brisbane). You generally need to be an Australian citizen or permanent resident, 18 or over, buying a home you’ll live in, and not currently own property. We can confirm your eligibility in a quick chat.

Not if you qualify for the First Home Guarantee – that’s the main benefit, and it can save you thousands. If you don’t qualify, we’ll look at other ways to reduce or avoid LMI, including guarantor options.

Depending on your state and situation, you may be able to combine several: the First Home Owner Grant (FHOG), stamp duty concessions or exemptions, the First Home Guarantee (5% deposit, no LMI), the First Home Super Saver Scheme (save for a deposit through your super), and shared-equity schemes like the Victorian Homebuyer Fund. We’ll map out everything you’re entitled to.

A bank can only offer its own products; we compare lenders across the market to find the right fit, handle the paperwork, and make sure you don’t miss grants or schemes you’re entitled to. Our service is free — we’re paid by the lender, not you.

Nothing. Initial advice is free with no hidden costs, and there’s no obligation. Book a free call back and we’ll point you in the right direction.

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Not sure which loan type is right for you?

Connect with Craig and he can guide you through the various  loans and help you work out which is going to be the best fit. 

Talk to Craig
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