First Home Buyer Strategy Tool
Check which government schemes and concessions you may be eligible for, and plan your timeline to buy.
Disclaimer: General information only, not financial advice. Estimates are indicative only. Lending criteria and government schemes change regularly. Eligibility for grants and concessions depends on individual circumstances. Verify all information with a licensed broker or lender.
Frequently Asked Questions
What is the First Home Guarantee?
The First Home Guarantee (FHBG) allows eligible first home buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property value.
Am I eligible for the First Home Owner Grant?
Eligibility varies by state and typically applies to new homes only. Price caps and income thresholds apply. Check your state revenue office for current details.
How much stamp duty will I pay?
Stamp duty varies by state and purchase price. First home buyers often receive exemptions or concessions. Use the results above for an estimate based on your state and target price.
Should I wait until I have 20% deposit?
Not necessarily. With the FHBG, you may be able to buy with just 5%. However, a larger deposit means lower repayments and no LMI. A broker can help you weigh up the options.