First Home
Buyer Loans

It starts with as little as 5% deposit
plus costs*. Got less? Contact us and
we will find the right loan for you.

First Home Buyers Loans



But as you know, there’s so much information out there that it’s confusing. And let’s be honest: it’s pretty boring (unless you’re us, because we love this stuff!).

You just want to know how much deposit you need, what you can afford, and how to find the right loan product to suit you.

Because here’s the thing – a lot of loans are one-size-fits-all. And that doesn’t work, because you’re, well, you. So your loan needs to suit you to give you the right product with the best chance of approval.

So what if there was an easy (and even enjoyable) way to find the right first home buyer loan to suit you?

If that sounds good, you’re in the right place.

Send us an email or book a free consultation with one of our expert Mortgage Brokers to discuss further.


Access special home loan packages designed for first home buyers

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Enjoy buying your first home as our team answers your questions and guides you through the process


so you get lower rates and faster approval times

Am I eligible for The First Home Guarantee?
Also known as First Home Buyers Scheme

The First Home Guarantee (FHBG)
is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible first home buyers purchase a home sooner. It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.

Under the FHBG, part of an eligible first home buyer’s home loan from a Participating Lender is guaranteed by NHFIC. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance. Any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This First Home Guarantee is not a cash payment or a deposit for a home loan.


Give yourself the best chance of approval with our top tips. It’s everything we’ve learned in the 15+ years we’ve been helping first home buyers get their loans approved.

If you’re unsure of where to start and need support putting a first home plan together, we’re happy to help.


To apply for the FHBG, home buyers must be:

  • applying as an individual or couple (married / de facto)
  • an Australian citizen(s) at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for couples, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
  • intending to be owner-occupiers of the purchased property
  • first home buyers who have not previously owned, or had an interest in, a property in Australia.


Under the FHBG, home buyers can purchase a residential property, including:

  • an existing house, townhouse or apartment
  • a house and land package
  • land and a separate contract to build a home
  • an off-the-plan apartment or townhouse.

Home buyers applying for the FHBG need to have between 5% and 20% of the value of an eligible property saved as a deposit.

Know your numbers


The numbers are important because they determine how much you can loan and the right type of loan to suit you. By numbers, we mean your:

  • Income: how much you make, or combined household income.
  • Living expenses: how much your day-to-day life actually costs and what your budget is moving forward.
  • Savings: how much you have saved, and how much you need to put towards your deposit and purchase costs including conveyancing and building and pest reports.
  • Savings history: lenders may check if you have a pattern of regular savings in the past 6–12 months.
  • Rental history: lenders may look for 6–12 months of good rental history through a property or on-site manager. Some lenders will consider this in lieu of genuine savings.
  • First home buyer benefits: see below.
  • Spending patterns: lenders have recently started analysing what you spend including things like dining out and UberEats.
  • Costs: the amount you can loan is impacted by costs like government and legal fees.
  • How much you can borrow: aka your lending capacity. Calculate yours here.

If that all seems like a lot, our team is here to help make it easy for you. Get in touch with us and we’ll talk you through all of this and answer your questions.

Pro tip: what’s the true savings deposit percentage?

Although most major banks (the ‘big banks’) say they still do 95% home loans, that needs to include mortgage insurance, which can be as high as 3% for loans over $300,000. This means the true deposit required is more like 8%, allowing for 5% and the additional 3% in mortgage insurance.

Stamp duty can be one of the biggest costs when purchasing your property. However, you may have access to the following first home buyer home loan benefits:

Stamp duty concession

Most states in Australia have large exemptions on stamp duty for both established houses and vacant land. As a general guide, there are significant savings on established property purchases between $500,000 and $600,000 depending on your state. There are also large discounts on stamp duty for vacant land between $250,000 to $400,000. We can help you navigate these discounts so you know how much deposit you actually need. There are some rules to keep in mind around how long you need to live in the property before it can become an investment. Some states also allow you to purchase a property with an existing tenant as long as they move out within a certain time period prior to you moving in.

Great Start Grant or First Home Owner Grant

Each state in Australia also provides an initial grant of $10,000 to $15,000 to help contribute towards the construction of your first home as a house and land package or a brand-new apartment. These incentives have been set up to help both first home buyers and also to stimulate the building industry across the Australian economy. These grants are incorporated into the home loan process with the lender we help source your home loan through. The grant application is approved through the lender, not through the government.

Talk to us to find out about first home buyer home loan benefits in your state.

Check your credit


Did you know that applying for finance or paying bills late can impact your ability to apply for a home loan? We all have a personal credit score; it’s something lenders look at when you apply. Your credit score can be affected by repeatedly paying bills late or declined applications for finance.

What does that mean for you? Pay your bills on time so when you apply for finance, you have the best chance of approval.

If you’re freaking out at this point, that’s OK. Why? Because we’ll be honest with you about your chances of approval. We’ll then match your finance profile and history to the lender that gives you the best chance of approval. 

What to do if you have less than 5% deposit


You’re not alone. That’s why Family Equity Home Loans are becoming more popular.

This type of loan gives you the chance to buy your first home with savings, with the help of one of your parents. Your loan is partly secured over their property as a limited guarantee, generally around 20% of the purchase price less whatever you contribute as a deposit. Ideally your parent will either own their own property or have a small mortgage.

With a Family Equity Home Loan, you’ll also save on mortgage insurance, which can save you over $10,000.

We’ve helped a lot of first home owners with Family Equity Home Loans, and are happy to help explain the process to your family and answer any questions you have.

Prep your paperwork


To save time and get ahead, prep the following paperwork:

- Two most recent pay slips (Self-employed? Check out our self-employed page <link to self-employed page> to find out what you’ll need)

- Most recent PAYG Summary / Tax Summary

- Three-month statement on everyday and savings accounts

- Six-month statement on car loan and personal loan(s)

- Three most recent credit card statements

Find the right finance professional


If you’re reading this, it’s because you’re trying to find the right finance professional. To give you the best chance of moving into your first home, take the time to check that they:

  • Are experienced with first home buyer home loans
  • Take the time to answer your questions
  • Can find the right loan to suit you from a range of lenders
  • Explain the numbers to you in detail

With over 100 five-star reviews and experience helping lots of first home owners, our team would love to help you move into your new home:




Our step-by-step Loan process is designed to:

  • Find you the right home loan product to suit your needs
  • Save you time
  • Give you the best chance of approval
  • Make it easy for you
  • Support you throughout the process


Get your questions answered with a short free consultation call with one of our friendly team. We won’t waste your time and will let you know if we can help. Click here to book your free consultation and we’ll be in touch.


To save you time, we’ll do some research on which lenders and loans might suit your needs before we catch up. Then we’ll talk in more detail about your circumstances and goals so we can find you the right loan.


This is where we get to work finding you the right loan product in the market from lenders in our panel.


You’ll get all the details on the loan(s) we’ve selected for you so you can make an informed decision. Our team is available every step of the way to answer your questions.


Once your application is submitted, our Elite Broker status gives you a faster turnaround time. We’ll update you on the progress of your application and let you know as soon as it’s been approved.


Once your loan is approved, we’ll go over the loan documentation with you. This includes assisting with having documents witnessed in our office to save you time finding a JP.


To make the settlement process seamless, we’ll liaise with the bank and your solicitor on your behalf.

The first step in finding your finance is a chat with one of our friendly team. We won’t waste your time and will let you know if you’re eligible for a loan:


Knowing your numbers is important, so here are our most popular first home buyer calculators (or access all of our 11 calculators on our Calculators page )


John and Sarah were first home buyers with $25,000 in savings and were looking to purchase an established townhouse for $400,000.

We checked for them and with a purchase of $400k in their state, they did not have to pay any stamp duty. We did however factor in approximately $4,000 to cover the purchase costs. That included conveyancing of $1,500, a building and pest report for $500, and bank and government fees of $2,000.

John and Sarah had been to their bank (one of the major banks) who told them they were going to need to save up more deposit for this property. The main extra cost the bank had to allow for was the Lenders Mortgage Insurance, also known as LMI. LMI is an insurance set up to cover the bank’s capital. On the plus side, it allows you to get into a property with less than 20% deposit.

Most major banks are limited to a home loan at 95% including LMI. This means for a home loan above $300,000, the LMI is 3%.

So if John and Sarah could only borrow a total of 95% including the LMI, the numbers would look like this: 95% - 3% LMI = 92% for the property.

This meant John and Sarah actually needed an 8% deposit plus savings to cover the costs.

8% of $400k = $32,000 plus $4,000 to cover costs = $36,000.


John and Sarah were disappointed as they thought $25,000 was going to be enough given they had over a 5% deposit.

Thankfully, we have access to speciality lenders with a First Home Buyer Option at 95% + LMI.

This means the lender can go to 95% PLUS the LMI all the way up to 98%. So, in this scenario, 98% - 3% LMI = 95% for the property.

Therefore John and Sarah only needed 5% deposit plus savings to cover their costs.

5% of $400k = $20,000 plus $4,000 to cover costs = Total of $24,000       

This meant they had enough to move forward with their purchase!

As you can see, there is a big difference between these two scenarios. Option 2 allowed John and Sarah to buy a property with a smaller amount of savings, which allowed them to get into the property market sooner. This could make a big difference at a time when the market is experiencing an upward trend.


How can I find out if I’m eligible for a home loan?

The fastest way is to talk to us. We’ll answer your questions and won’t waste your time. All you need to do is request a free consultation and one of our friendly team will be in touch.

How much do you charge?

Our service is at no charge to you.

Why should I talk to you instead of my bank?

Because unlike a bank, we have access to over 40 lenders. This means we find you the right first home buyer home loan, which starts with the right structure to suit you. We’ll show you what your bank can do plus compare it to the market, giving you a bigger range to choose from.

How much deposit do I need?

Most lenders will want you to have a deposit of 5–10% of the purchase price of the property. But the bigger deposit the better, because some lenders may require Lenders Mortgage Insurance (that is, unless you’re eligible for the First Home Loan Deposit Scheme – see below).

What if I don’t have 5% deposit?

A Family Equity Home Loan gives you the chance to buy your first home with savings, with the help of your parents. Part of your home loan is secured over their property as a limited guarantee. Generally this is limited to 20% of the purchase price of the property less whatever deposit you can provide. Ideally your parent will either own their own property or have a small mortgage.

With a Family Equity Home Loan, you’ll also save on Lenders Mortgage Insurance, which can save you over $10,000. We’re happy to explain this to your family if needed and answer any questions.

What first home owner benefits are available to me?

Click here to read all about it.

How does the First Home Owners Loan Deposit Scheme work?

In this scheme, the government acts as the mortgage insurer, guaranteeing home loans for eligible first home buyers with a minimum of 5% deposit. This can save first home buyers anywhere from $10,000 to $30,000 in Lenders Mortgage Insurance fees. To find out if you’re eligible, click here. We’re happy to answer your questions on how the scheme works with your property purchase.

Still have questions? We’ve got answers:

Find out what your numbers are

Work out how much you can borrow, what your repayments will be and plan how much you could save with our free calculators (or you can request a free consultation to get your questions answered). 


We’re a family-owned business with around 8 staff, 15+ years experience and more than $500M of approved loans. By taking time to understand your requirements, we help make your dreams come true with caring, professional service.

Our team of specialists including Gold Coast Finance Brokers, Medical Mortgage Brokers, Varsity Lakes Mortgage Brokers, Gold Coast Mortgage Brokers and Southport Mortgage Brokers  will find the right loan for you.


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This page provides generic information only; it was created without considering your individual goals, requirements, or financial condition. Before accepting any offer or product, we advise you to think about whether it is appropriate for your situation and to assess your entire financial status. It is not intended to be legal, tax, or financial advice, and you should always obtain a professional's opinion regarding your particular situation. All loan products are subject to lender requirements and approval. Fees, terms and conditions apply.

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