What do you need to prepare a home loan application?
First home buyers home loan support
The home buying process
Step by step guide to what's involved in buying your first home, including the home loan process.
Home buying costs
Buying a home will cost you more than what's written on the property price tag. Generally speaking, you will need to allow 5% of the property's purchase price to afford the additional buying costs.
Need a guarantor?
A guarantor loan can help first home buyers buy a place of their own even with a small deposit. Here's what you need to know about a guarantor home loan.
How a broker can help first home buyers
Your local Mortgage Choice broker
I'm a first home buyer, what help can I get?
If you're ready to buy your first home you may be wondering what government help is avaible.
In this video we explain the different Government Grants and incentives available to first home buyers, including the First Home Owner Grant, Stamp Duty Concessions and the First Home Loan Deposit Scheme.
Watch the rest of our First Home Buyer Video series here to make sure you're prepared for your first home and take advantage of all the support avaible.
More videos and tips
How much do I need to save to buy my first home?
What is home loan pre-approval?
Do I need home loan pre-approval?
New Home Guarantee Explained
What grants and schemes are available for first home buyers? With Joel Gibson
Is now a good time for first home buyers? With Joel Gibson
Home loan calculators
First home buyer's guide
Purchasing your first property can be an overwhelming process and there may be steps you are unsure or unaware aware of. This guide will walk you through all of the steps involved in the buying process.
Hear from our customers
I’d definitely recommend Mortgage Choice. If I had known it would be this easy to arrange a home loan and buy a place of my own I would have done it years ago!
The help our broker provided was amazing. I don’t know how many times we asked the same questions but he never made us feel like any questions were silly. He even took the time to explain our home loan to our parents. I have already recommended Mortgage Choice to my friends - I am just so happy with the way things turned out for us.
Prior to booking my first appointment with Mortgage Choice I knew entirely nothing about home loans and the housing market. My broker provided me with the knowledge, expertise and guidance to feel comfortable enough to take the plunge and buy my first home. I am very happy with the package that I ended up choosing and would return to Mortgage Choice again.
At the age of 29, with a $50,000 deposit and a six figure income, my bank was unable to give me a loan. After meeting with my Mortgage Choice broker, she clearly and effectively communicated my options and the process of purchasing my first home. Within 48 hours I had been pre-approved to almost double the amount approved by my bank.
I asked my broker thousands of questions, and she never made me feel like I was an imposition or that I was asking a stupid question – and that’s not something I could say about every service provider I encountered as a first home buyer. With the right help and support, buying a first home doesn’t have to be hard. My broker was lovely to deal with and she made the whole process so much easier for me.
Our broker did more than help us find a competitively priced loan. She was really interested in providing personal solutions and she provided good advice, explaining all the things we needed to consider as first home buyers. Mortgage Choice made it very easy to buy our block of land. The hard part is waiting for our first home to be built so we can begin living in it – that’s a day I’m really looking forward to!
I purchased my first home and to say it was a daunting experience is an understatement. It was a very confusing time. I have said to my friends multiple times that I don’t know how I would have actually navigated through it all without the support of my Mortgage Choice broker. She made everything clear and her customer service and knowledge of the industry was exceptional.
First home buyer FAQs
Ready to buy your first home? These grants may help you
2022 First Home Guarantee
Since January 2020, the Government has introduced the First Home Guarantee scheme (Previously known as the First Home Loan Deposit Scheme), for first time buyers, which allows approved applicants to take out a mortgage with just a 5% deposit and avoid paying lenders mortgage insurance. Spots are limited, find out if you're eligible today.
Family Home Guarantee Scheme
The federal government has launched an initiative to allow single parents to take out a home loan deposit with as little as 2% (subject to being able to service home loan repayments). Here we explore what's involved in this scheme and if you could be eligible!
Regional Home Guarantee
Make that tree-change a reality with the Government’s Regional Home Guarantee. First home buyers and others can buy a regional home with just a 5% deposit and save thousands by avoiding LMI.
New Home Guarantee
Announced in the 2021-21 Federal Budget, the Government has allocated an additional 10,000 places to the First Home Loan Deposit Scheme (FHLDS) to the new home guarantee until 30 June 2022. Find out more to see if you're eligible today!
Stamp duty concessions
Stamp duty is one of the upfront costs that apply when you buy a home. State Governments offer concessions and exemptions on stamp duty to first home buyers. See if you're eligible and what your stamp duty would be today.
What are the Proposed NSW Stamp Duty Changes?
Introduced in the 2020-21 Budget, the NSW Government announced a proposal to change the way the current tax system is set up when purchasing properties.
VIC: 25-50% discounts announced on stamp duty
As part of the Victorian Budget 2020/21 a number of measures aimed at making housing more accessible and affordable for Victorians have been announced. Read more to see how these changes could benefit you.
Victoria's $500M Homebuyer Fund
The Victorian Government has made it possible to receive a contribution of up to 25% of the purchase price of your home.
First Home Owner Grant
The First Home Owner Grant is a lump sum of cash available to help with the cost of buying your first home or vacant land to build on. Find out more and see if you're eligible.