Let's get your 2020 back on track

Take advantage of the lowest rates ever, available grants, and buy your home in 2020. We are here to help.

Restart your 2020 with our Mortgage Minute, we answer the most common questions to get you into your home sooner.

Is now a good time for first or potential home buyers? With Joel Gibson

I'm a first home buyer, what help can I get?

How much deposit do I need to save?

Do I need home loan pre-approval?

What grants and schemes are available for first home buyers? With Joel Gibson

Ready to buy your first home? These grants may help you

  • 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.

  • HomeBuilder program: $25k cash grant

    Kickstart your 'dream' home with a $25K cash grant under the federal government’s newly announced HomeBuilder program. Find out more and see if you're eligible.

  • 2020 First Home Loan Deposit Scheme

    The new government scheme for first time buyers 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.

  • WA: $20k 'Building Bonus' Scheme

    Looking to make a fresh start in a new home? The WA Government has announced this $117 million scheme. Owner-occupiers, first home buyers and investors who build a new house could be eligible for this huge $20,000 grant!

  • NT: BuildBonus & Home Renovation grants

    If you're looking to build or buy your home in the Northern Territory, you could be eligible for a $20,000 building grant or $10,000 renovation grant. Find out how you could benefit here.

  • NSW: Stamp duty scrapped for eligible first home buyers

    The NSW Government has announced it will temporarily axe stamp duty on newly build homes under $800,000 until August 2021. Find out if you're eligible today.

  • 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.

  • First home buyer information centre

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    Ready to buy your first home? Get your free home loan quote today.

    FAQs to buying your home

    If you’re ready to buy your first home, congratulations! You may have been diligently saving towards your first home deposit and think you’re ready to go but there are a few other costs associated with buying property that you also need to consider. 

    Stamp duty, or land transfer duty which is a government tax you need to pay when you purchase property. The amount you will need to pay will vary depending on the type of property you are purchasing and whether it’s your first home. Access our stamp duty calculator here. If you are a first home buyer in NSW, recent stamp duty changes may apply to you. Learn more about them here

    You may also have to pay legal or conveyancing fees to review your contract, loan documents and help transfer the property into your name. Building and or pest inspection fees, valuation fees, moving fees, home, building and contents insurance, connecting utilities like gas and electricity. 

    You may also have to pay costs associated with your mortgage such as loan application fee or Lenders’ Mortgage Insurance (LMI).

    Saving the deposit to buy a property can take years and a lot of sacrifice and discipline. If you want to get into the property market sooner, a guarantor might be able to help. 

    A guarantor is a person who provides additional security for your home loan. This is usually a partner or immediate family member. Your guarantor uses the equity in their own home as the security for your home loan. It’s important that both you and the guarantor understand the risks involved in the process. If you are no longer able to meet your home loan repayments, the lender will expect your guarantor to step in and pay off your loan. 

    You may need a construction loan if you plan to substantially renovate your current home or build a new one.

    Construction loans allow you to draw down on approved funds as you need them so you only pay interest on the amount you’ve drawn down until your construction is complete. Unlike a traditional home loan where you receive all your approved funds at once, a construction loan is paid out in stages where the borrower progressively draws down on the loan throughout the term.

    It’s important to get expert advice from your mortgage broker when applying for a construction loan as they typically have a shorter term, a higher interest rate and carry stricter eligibility requirements.

    When applying for a construction loan you will need to have a signed building contract with a payment schedule and detailed schedule of works as well as council approved construction plans. 

    To learn more about construction loans, speak to your Mortgage Choice broker today.

    There are a number of factors lenders will look at when assessing your eligibility for a home loan. These include your income, debts, living expenses and your assets including your deposit. You may also be eligible for Stamp Duty concessions, First Home Owner Grant and the First Home Loan Deposit Scheme.

    Buying your first property is a huge accomplishment, congratulations! You might be wondering whether you want to live in it, or keep it as an investment property while you live at home or rent elsewhere. There are a range of factors that can help you make your decision.

    For example, the First Home Owner Grant and the First Home Loan Deposit Scheme are only available to owner-occupiers (meaning, you live in the property you own). If you decide to make it an investment property, you will need to consider tax implications and the costs associated with maintaining an investment property.

    If you have built up equity in your home since you purchased it, you may be able to get a home loan top-up to fund renovations to your home. A top-up allows you to borrow an increased amount by using the equity you have in your home and you can use these funds for a renovation for example.

    Generally speaking, you will only be able to increase your home loan to 80% of the value of your home otherwise you may be required to pay LMI again. Also, if you’re in a fixed-rate home loan product you may not be eligible for a top-up.

    Customer success stories to inspire you

    Pre-approval helps first home buyers get their dream home

    “Lindon guided us from start to finish and explained everything in depth and detail. We feel very grateful Lindon was able to assist us with one of the biggest life decisions we have made.”

    First home buyers save over $60K

    “Scott helped us realise our dream by walking us through the steps and helping us understand all the correct processes we had to take”

    First home buyers build their dream home

    “Our broker made sure we got a good deal in the current market conditions. She takes her job and her duty to clients seriously. She is a superstar! I would recommend her team to anyone who is looking for a broker!”

    Hear from our customers


    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.

    Download now

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