First Home Buyers Loans: Secure Your First Time Home Loan with a 5% Deposit Guarantee

Flexible terms, less stress: Selectabroker aligns your loan with your life.

Home Guarantee & Financial Support Options

Thinking about buying your first home? That's fantastic!

But it can feel like stepping into a maze. With so many first home buyer loans, grants, and schemes out there, it's easy to feel overwhelmed.

The great news?

More often than not our specialist first home buyer brokers can ensure your positioned well to access the guarantee scheme for buying a home.

We help Australian's in every corner of the country:

New South Wales First Home Owners

Northern Territory First Home Owners

Queensland First Home Owners

South Australian First Home Owners

Tasmanian First Home Owners

Victorian First Home Owners

Western Australian First Home Owners

Federal First Home Owners Grants

Steps to Buying Your First Home

Understanding the Process of Purchasing your First Property:

In today’s competitive housing market, securing your dream home can be challenging, especially for first-time buyers. Leveraging a 5% deposit guarantee can significantly ease the financial burden of home buying.

Here’s a step-by-step guide to help you navigate the process:

1. Research the Market

Determine your goals: Are you buying a home to live in or as an investment property?
Identify preferred locations: Research different areas to understand market trends, property types, and prices.
Assess affordability: Look at properties that fit within your estimated budget.

2. Figure Out How Much You Can Borrow

Evaluate your financial situation: Use a borrowing calculator to estimate how much you can borrow based on your income and expenses.
Set realistic expectations: Focus your property search on homes that align with your borrowing capacity.

3. Work Out the Finer Details

Account for additional costs: Include expenses such as stamp duty, pest inspections, and legal fees in your budget.
Explore available grants and schemes: Check your eligibility for first home buyer grants or deposit schemes.
Consider mortgage insurance or guarantors: Understand the implications of lender's mortgage insurance (LMI) and whether you might need a guarantor.

4. Create a Budget and Set Your Saving Goals

Prepare a detailed budget: Determine how much you can save each month towards your home deposit.
Use savings tools: Utilise tools to track your progress and ensure your goals are realistic.
Open a dedicated savings account: Separate your savings to minimise spending temptations and maximise interest benefits.

5. Explore Your Loan Options

Explore different loan types: Decide whether a fixed, variable, or mixed interest rate suits you best.
Calculate affordability: Ensure mortgage repayments do not exceed 30% of your after-tax income.
Seek expert advice: Consult a lending specialist to help identify the most suitable loan options.
Obtain conditional pre-approval: This will enable you to act quickly when you find the right property.

6. Consult a Mortgage Broker

Expert Guidance: Get help finding the best first home buyers loans.
Compare Loans: Access multiple lenders through one point of contact.
Personalised Advice: Tailor options to your situation.

7. Find Your Home

Stay Informed: Regularly check listings and cross check the property to ensure it meets the requirements of the loan application.
Inspect Properties: Attend open homes, ask plenty of questions.
Be Prepared: Have finances in order to make an offer quickly.

8. Apply for Grants and Schemes

Work with Your Broker: They'll help ensure everything is done on time.
Meet Deadlines: Some schemes have limited availability.

9. Finalise Your Loan

Review Offers: Understand terms and fees.
Choose the Right Loan: Select what suits your needs best.
Ask Questions: Always clarify anything that's unclear.

10. Settlement and Moving In

Legalities: A solicitor or conveyancer will handle this.
Plan Your Move: Notify utilities, organise moving services.

Do you want flexible terms & less stress?

Connect with Craig to fast-track your access to government grants, schemes & Guarantee’s. We can then provide you with a range of loan options that align with your life.

Government Schemes:

Unlock Opportunities and Save Big

Explore a range of tailored loan solutions designed to meet your unique financial needs.

First Home Super Saver (FHSS) Scheme

Maximise Your Savings with Tax Benefits

Boost your savings by making additional contributions to your superannuation.
Up to $15,000 per financial year and a total of $50,000 can be saved with tax benefits of only 15% on super contributions.
Funds are typically deposited within a week after applying through the ATO website.

First Home Owner Grant (FHOG)

Get $10,000 Towards Your New Home

Purchase a new property valued up to $750,000.
Must be your principal place of residence for at least one year.
Many banks accept the grant as part of your deposit.

First Home Buyer Duty Exemption

Save Thousands on Stamp Duty

Properties valued at $600,000 or less are exempt from stamp duty.
properties valued between $600,000 and $750,000 receive reduced rates, saving you potentially tens of thousands of dollars.

First Home Guarantee (FHBG)

Buy with a 5% Deposit and No LMI

Purchase with as little as a 5% deposit without needing Lenders Mortgage Insurance (LMI).
Government acts as your guarantor.
Available through participating banks, with 35,000 places annually.

Homebuyer Fund (Victoria Only)

An Alternative Path with Shared Ownership

The Victorian Government co-invests with you, contributing up to 25% of the purchase price in exchange for a stake in your property.
Requires a minimum 5% deposit from you, and any significant changes need government approval.

Family Home Guarantee (FHG)

Support for Single Parents with a 2% Deposit

Provides eligible single parents with a 2% deposit option to purchase or build a home, even if they have owned a home before.
Up to 5,000 places are available each year through participating lenders until 30 June 2025.
Eligibility: Must be an Australian citizen or permanent resident, earn below $125,000, be 18 years or older, and live in the property as an owner-occupier.

Trust in Transparency
Mortgage advice you can trust. No biases, just clarity.

Trusted by 1000's of Australians

Just a few of our happy customers

Pauline mcdonnald - first home buyer testimonial

Pauline McDonald

Coolangatta, QLD

As someone who’s always rented, buying my first home seemed daunting. I had a decent deposit saved but as it turned out I was clueless about navigating the loan process.

Selectabroker came to my rescue. My broker, Peter took the time to understand my situation, explained all the available options, and helped me find a loan with low upfront costs. He practically did the loan application for me, which saved me thousands. Thanks to Selectabroker and Peter's expertise, I now own a beautiful home. You guys made it seem so easy!

Alice Scotis

Canberra, ACT

Buying my first home felt like a mountain I’d never be able to climb. Between saving for a deposit and navigating the world of home loans, I didn’t know where to start.

A friend recommended Selectabroker, and from the first consultation, I felt a huge weight lift off my shoulders. Craig walked me through every step, explained all the confusing terms in plain language. He connected me with Peter a specialist first home loan consultant who found a loan that fit my budget perfectly.

He even helped me access a first-home buyer grant, which made a big difference in my upfront costs. I'm so grateful for all your help. 100% Recommend Selectabroker to anyone buyer a first home.

Eligibility Concerns?
No Worries!

Let’s explore your first home government assistance options together.

Complementary Mortgage
Support Services

Pre-Approval Assistance

We help clients obtain pre-approval for a mortgage, allowing buyers to understand their borrowing capacity before they start looking for a home.

Financial Health Assessments

We review credit scores and financial statements to determine the most suitable mortgage options based on the client’s financial situation.

Mortgage Counselling

We provide advice on different types of mortgages, including fixed-rate, adjustable-rate, and more, helping clients choose the one that best fits their needs.

Interest Rate Advice

Our brokers offer guidance on when to lock in interest rates, based on up-to-date market knowledge.

Debt Consolidation Advice

For clients with multiple debts, we offer strategies for consolidating these into a single loan to simplify payments and potentially reduce interest costs.

Loan Features Explanations

We explain various features of mortgage loans such as balloon payments, prepayment penalties, and amortisation schedules.

Refinancing Analysis

We assess whether refinancing is beneficial based on current financial standings and market conditions, potentially leading to better rates or different loan terms.

Government Programmes

We inform clients about government-sponsored homebuyer programmes or incentives they may qualify for.

Assistance with Application Paperwork

We help clients gather necessary documents and complete the mortgage application to ensure accuracy and completeness.

Real Estate Network Referrals

We can recommend real estate agents, lawyers, and home inspectors to facilitate the home buying process.

Home & Mortgage Insurance Advice

We provide information about home insurance and mortgage protection insurance to protect the client’s new investment.

Post-Closing Support

We provide ongoing communication, rate monitoring, refinancing assistance, payment management, conducting annual reviews, and offering educational resources.

Ready to take the next step?

Wherever You Are in Your Loan Journey, We're Here to Help

Discuss Your Options with a Real Person

Chat with a lending agent

Looking to explore your home loan options? Give us a call. We're available 7 days a week till 9pm

Discover Your Indicative Interest Rate

Get your best interest rate

Get an estimate of your interest rate and monthly repayments without affecting your credit score.

Calculate Your Borrowing Power

See How Much You Could Borrow

Estimate how much you may be eligible to borrow based on your income and expenses.

Should You Use a Mortgage Broker?

Expertise in First Home Buyer Loans

Mortgage brokers are like seasoned guides of the loan world.

They:

Know the Market Inside Out: They understand which lenders offer the best home loans for first home buyers under the terms and conditions of the guarantee scheme.
Simplify the Complexity: Break down loan details into simple steps.
Find the Right Fit: Match you with loans that suit your financial situation.

Saving You Time and Stress

Selectabroker Can Save You Time and Stress

Buying your first home can be daunting.

We do the Heavy Lifting: Compare loans, handle paperwork, and negotiate with lenders.
Offer Insider Knowledge: Provide tips to help you avoid common pitfalls.
Help You Dodge Costly Mistakes: Guide you through potential issues that could trip you up.
Do the Heavy Lifting: Compare loans, handle paperwork, and negotiate with lenders.
Offer Insider Knowledge: Provide tips to help you avoid common pitfalls.
Help You Dodge Costly Mistakes: Guide you through potential issues that could trip you up.

Rural Property Lending

Understanding Loans, Grants, and Schemes

Whether you’re interested in agistment property loans, agribusiness loans, alternate farm loans, cattle farm loans, or any other type of agricultural loan, there are options available to suit your specific needs.

First Home Owner Options

1. First Home Owner Grant (FHOG)

A one-off payment from the state government to help first-timers buy or build a new home.

Benefit: Varies by state or territory.

Eligibility:

Must be your first home purchase.
Be an Australian citizen or permanent resident.
Plan to live in the home as your main residence.

FHOG Comparison by State:

State/Territory	Grant Amount	Property Cap
Victoria	Up to $10,000	$750,000 (max amount under the guarantee scheme)
New South Wales	Up to $10,000	$600,000 (new homes only)
Queensland	$15,000 - $30,000*	$750,000
South Australia	Up to $15,000	No cap, but grant can't exceed purchase price
Western Australia	Up to $10,000	$750,000 south / $1M north of 26th parallel
Tasmania	Up to $30,000 (until June 2024)	No cap specified
Northern Territory	$10,000	No cap

*Depends on contract date.

2. First Home Guarantee

Allows eligible buyers to purchase with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI).

Benefit: Government backs up to 15% of the property's value.

Eligibility:

- Australian citizens or permanent residents over 18.
- Income limits apply ($125k for singles, $200k for couples).
- Must live in the property.
- Property price caps vary by location.

3. First Home Super Saver Scheme (FHSSS)

Save for your first home using your super fund.
Benefit: Boost savings thanks to lower tax rates.
Eligibility:
- Must be a first-time buyer.
- Can withdraw up to $50,000 of voluntary contributions.

4. Shared Equity Schemes

The government or another entity co-owns part of your property, reducing your loan amount. Benefit: Smaller deposit and loan needed. Considerations: You'll need to buy out their share eventually. Victorian Homebuyer Fund:

Benefit: Government chips in up to 25% of the purchase price.
Eligibility:
- Australian citizen or permanent resident over 18.
- Annual income of $125k or less for singles.
- Must live in the property as your main home.

Not sure about your loan eligibility?

Connect with Craig to work out the best loan option that’s right for you.

If you don’t qualify for a specific loan type don’t stress, we can explore other loan options you are eligible for.

First Home Owner Stamp Duty

Stamp Duty Concessions

Stamp duty can take a hefty bite out of your budget, but many states offer relief for first home buyers.

State/Territory	Grant Amount	Property Cap
Victoria	Up to $10,000	$750,000 (max amount under the guarantee scheme)
New South Wales	Up to $10,000	$600,000 (new homes only)
Queensland	$15,000 - $30,000*	$750,000
South Australia	Up to $15,000	No cap, but grant can't exceed purchase price
Western Australia	Up to $10,000	$750,000 south / $1M north of 26th parallel
Tasmania	Up to $30,000 (until June 2024)	No cap specified
Northern Territory	$10,000	No cap

*Depends on contract date.

Ready to take the guesswork out of buying your first home?

Download our guide now and step confidently towards homeownership!

Confidence in Navigating the Home Buying Process: Gain clarity on every stage, from saving for a deposit to final settlement.
Maximised Financial Benefits: Learn how to leverage government schemes to save thousands on your first home.
Avoiding Costly Mistakes: Insights into common pitfalls, ensuring your journey to homeownership is smooth and informed.

Tips for First Home Buyers

Act Fast: Some schemes have limited spots.
Stay Updated: Grant rules can change.
Consult Experts: Brokers can be an invaluable resource.
Look at Regional Areas: You might find larger grants or better conditions.

Unlock Your First Home Owner Benefits

Calculate your grant eligibility and savings today!

Free Expert Advice. No Hidden Costs

Benefits of Using a Mortgage Broker

Personalised Guidance

Financial Assessment: Understand your full financial picture.
Loan Matching: Find the best home loans for first-time buyers.

Exclusive Loan Access

Special Deals: Access loans not available directly to the public.
Negotiation Power: Brokers may secure better loan terms.

Streamlined Process

Admin Assistance: Paperwork can be a hassle—brokers handle most of it.
Lender Liaison: They communicate with lenders on your behalf.

Maximise Your Benefits

Identify Grants: Don’t miss out on first home buyer grants and the regional guarantee.
Strategic Use of Schemes: Combine different grants and incentives.

First Home Buyers Loans FAQ's

Can't find the answers to your first home questions?

Connect with Craig to get all the answers to your First Home Buyers Loans questions

Select a Broker provides rural loans for agribusiness and home ownership, serving the needs of primary producers and Australian farmers.

Select a Broker operates across Australia, providing financial solutions to farmers and agribusinesses in various regions.

The interest rates offered by Select a Broker vary based on the loan products available and the financial situation of the borrower.

A farm business can benefit from a loan from Select a Broker by using it to cover daily working capital, finance short-term production costs, or invest in long-term growth opportunities.

The time taken for loan approval from Select a Broker depends on the completeness of the application and the complexity of the financial situation and needs of the borrower.

Farmers, primary producers, and agribusiness owners can apply for loans with Select a Broker to support their financial needs and business growth.

Home Guarantee & Financial Support Options

We help Australian's in every corner of the country:

Steps to Buying Your First Home

Understanding the Process of Purchasing your First Property:

1. Research the Market

2. Figure Out How Much You Can Borrow

3. Work Out the Finer Details

4. Create a Budget and Set Your Saving Goals

5. Explore Your Loan Options

6. Consult a Mortgage Broker

7. Find Your Home

8. Apply for Grants and Schemes

9. Finalise Your Loan

10. Settlement and Moving In

Do you want flexible terms & less stress?

Government Schemes:

Unlock Opportunities and Save Big

First Home Super Saver (FHSS) Scheme

First Home Owner Grant (FHOG)

First Home Buyer Duty Exemption

First Home Guarantee (FHBG)

Homebuyer Fund (Victoria Only)

Family Home Guarantee (FHG)

Trust in Transparency Mortgage advice you can trust. No biases, just clarity.

Eligibility Concerns?No Worries!

Complementary Mortgage Support Services

Pre-Approval Assistance

Financial Health Assessments

Mortgage Counselling

Interest Rate Advice

Debt Consolidation Advice

Loan Features Explanations

Refinancing Analysis

Government Programmes

Assistance with Application Paperwork

Real Estate Network Referrals

Home & Mortgage Insurance Advice

Post-Closing Support

Wherever You Are in Your Loan Journey, We're Here to Help

Discuss Your Options with a Real Person

Chat with a lending agent

Discover Your Indicative Interest Rate

Get your best interest rate

Calculate Your Borrowing Power

See How Much You Could Borrow

Should You Use a Mortgage Broker?

Expertise in First Home Buyer Loans

Saving You Time and Stress

Selectabroker Can Save You Time and Stress

Rural Property Lending

Understanding Loans, Grants, and Schemes

First Home Owner Options

Understanding Loans, Grants, and Schemes

1. First Home Owner Grant (FHOG)

FHOG Comparison by State:

2. First Home Guarantee

3. First Home Super Saver Scheme (FHSSS)

4. Shared Equity Schemes

Not sure about your loan eligibility?

First Home Owner Stamp Duty

Stamp Duty Concessions

Ready to take the guesswork out of buying your first home?

Tips for First Home Buyers

Unlock Your First Home Owner Benefits

Benefits of Using a Mortgage Broker

Personalised Guidance

Exclusive Loan Access

Streamlined Process

Maximise Your Benefits

First Home Buyers Loans FAQ's

Can't find the answers to your first home questions?

What is Select a Broker all about?

What areas does Select a Broker operate in?

What are the interest rates offered by Select a Broker?

How can a farm business benefit from a loan from Select a Broker?

How long does it take to get loan approval from Select a Broker?

Who can apply for a loan with Select a Broker?

Get free expert advice 7 days a week until 9pm

Talk to a Specialist Mortgage Broker Today

Give us a call

Trust in Transparency
Mortgage advice you can trust. No biases, just clarity.

Eligibility Concerns?
No Worries!

Complementary Mortgage
Support Services

Get free expert advice
7 days a week until 9pm