A real borrowing figure
How much can you actually borrow?
Not a website estimate. We assess your income the way a lender will, including how they treat overtime, bonuses, casual hours and study debt, so the number holds up.
FIRST HOME BUYERS
Buying your first home, without the guesswork
What you can borrow, what deposit you need, and which of the schemes you actually qualify for.
IN SHORT
A first home loan is a normal home loan with a few extra doors open
As a first home buyer you can access the same loans as everyone else, plus a set of concessions and guarantee schemes that other buyers cannot. The two questions that decide everything are how much deposit you have and how much a lender will let you borrow against your income.
Most first buyers are told to save 20% of the purchase price to avoid lenders mortgage insurance. That is one route, and it is not the only one. Government guarantee schemes, family guarantees and LMI itself can all get you in sooner — each with a different cost attached.
The job is working out which combination leaves you better off, not just which one gets you approved fastest.
WHY IT HELPS
What we sort out for you
The full cash picture
What do you need beyond the deposit?
Stamp duty, conveyancing, inspections, lender fees and moving costs all come out of the same savings. We map the whole amount so nothing lands as a surprise.
Scheme eligibility
Which concessions apply to you?
First home buyer duty concessions and federal guarantee schemes each have their own income caps, price caps and residency rules. We check which you meet before you rely on one.
HOW IT WORKS
The order things usually happen in
Buyers often start by looking at properties and work backwards to finance. It is far less stressful the other way around: establish capacity, get a pre-approval, then shop inside a budget you know is real.
- Review income, commitments and savings history against lender policy
- Confirm which schemes and duty concessions you qualify for
- Obtain a pre-approval so your offer carries weight
- Search with a firm ceiling rather than a hopeful one
- Move to formal approval once you have a contract, then settle
IS IT RIGHT FOR YOU
Where first home buyers usually land
This tends to suit you if
- You have a stable income — even a modest deposit can work when serviceability is comfortable.
- You have savings history — lenders like to see genuine savings accumulated over time.
- You qualify for a guarantee scheme — which can remove LMI entirely on an eligible purchase.
- Family can assist with security — a guarantor arrangement can replace a larger cash deposit.
Worth weighing up
- A smaller deposit costs more — either as LMI or through pricing tied to a higher LVR.
- Scheme places and caps are limited — eligibility depends on income, property price and timing.
- Buying at your absolute maximum — leaves nothing for rate movements or a change in circumstances.
- Credit enquiries add up — multiple speculative applications can work against you.
How working with us actually goes
Step 1
We start with a conversation, not an application
Step 2
We work out what you can borrow and what it costs
Step 3
We prepare the application and deal with the lender
Step 4
We stay across the loan long after settlement
COMMON QUESTIONS
Questions we get asked about this
How much deposit do I need as a first home buyer?
A 20% deposit avoids lenders mortgage insurance, but many first buyers purchase with less. Some lenders will consider 10% or even 5%, with LMI applied, and federal guarantee schemes can remove LMI for eligible buyers with a small deposit.
The practical answer depends on the purchase price, your income and which schemes you qualify for. We work it out against your actual numbers rather than a rule of thumb.
What is lenders mortgage insurance and who does it protect?
LMI is a one-off insurance premium charged when you borrow above a certain proportion of the property value, commonly 80%. It protects the lender, not you, if the loan defaults and the sale does not cover the debt.
It is usually capitalised into the loan rather than paid up front. It is a real cost, but it is sometimes cheaper than spending another two years saving in a rising market — that comparison is worth doing properly.
Do I still qualify if I have HECS or HELP debt?
Yes. Study debt does not prevent you from getting a home loan, but the compulsory repayment reduces your assessed income and therefore your borrowing capacity.
Lenders differ in how they treat it, particularly where the balance is small and close to being paid out. That variation is one reason comparing across a panel matters.
Should I get pre-approval before I start looking?
In most cases yes. Pre-approval tells you your ceiling, and it signals to an agent that you are a credible buyer.
Understand its limits: pre-approval is conditional, usually time-limited, and subject to valuation and final checks. It is not a guarantee of funding.
Can my parents help without giving me cash?
Often, yes. A security guarantee lets a family member offer equity in their own property as additional security, which can reduce or remove the need for LMI.
It is a serious commitment for the guarantor, who takes on real liability. Everyone involved should get independent legal advice before proceeding.
RELATED
Where people usually go next
GET IN TOUCH
Find out where you stand before you commit to anything.
Would rather talk it through?
(02) 9659 1694Important information
Government grants, duty concessions and guarantee schemes are administered by federal and state bodies. Eligibility rules, price caps and available places change from time to time — confirm current criteria with the relevant authority or with us before relying on them.
The information on this page is general in nature. It has been prepared without taking your objectives, financial situation or needs into account, so it is not personal advice and you should consider whether it is appropriate for you before acting on it.
Any rates, figures or examples shown are indicative only. Lending is subject to approval, and lender eligibility criteria, terms, conditions, fees and charges apply. Talk to us about what your own circumstances allow.