Home & property loans
Buying your first home
From working out what you can borrow to getting the keys. We’ll guide you through every step and explain your options in plain English.
How we help first home buyers
- Borrowing power: a realistic view of what you can borrow before you start house hunting.
- Government schemes: we check whether you’re eligible for first home buyer grants, stamp duty concessions and low-deposit guarantee schemes.
- Pre-approval: so you can bid or make an offer with confidence.
- Lender comparison: we compare loans across our lender panel, not just one bank.
- Settlement: we work with your conveyancer and lender through to the day you get the keys.
Buying with a smaller deposit
Saving a 20% deposit can take years. Depending on your circumstances, you may be able to buy sooner using the Australian Government’s Home Guarantee Scheme, a family guarantee, or a loan with lenders mortgage insurance (LMI). Each option has different costs, eligibility rules and trade-offs, and we’ll walk you through which ones apply to you.
The steps to buying your first home
- 1. Work out your budget: your borrowing power, deposit and the upfront costs such as stamp duty, legal fees and inspections.
- 2. Get pre-approval: so you know your limit and sellers take your offer seriously.
- 3. Find the property: we can check the property with the lender before you commit.
- 4. Formal approval and settlement: we handle the paperwork with the lender and keep you updated until you get the keys.
What you’ll need
Usually ID, recent payslips, bank statements showing your savings, and details of any debts. If you’re self-employed, see our self-employed home loans page. We’ll give you a simple checklist so nothing slows you down. Ready to go? Answer a few quick questions and we’ll be in touch.
Ready to talk?
Answer a few quick questions and a broker will come back to you within one business day.
Related services
FAQ
Common questions
How much deposit do I need to buy my first home?
It depends on the lender and the options you’re eligible for. Some buyers can purchase with a deposit of 5% or less through a government scheme or family guarantee, while a 20% deposit usually avoids lenders mortgage insurance.
What government help is there for first home buyers?
Depending on your state and circumstances, there may be a first home owner grant, stamp duty exemptions or concessions, and the Australian Government’s Home Guarantee Scheme. Eligibility rules change, so we’ll check what applies to you at the time you buy.
How long does pre-approval last?
Pre-approval is usually valid for around three to six months, depending on the lender. If it expires before you buy, we can help you renew it.
Does using a broker cost me anything?
In most cases, no. Brokers are usually paid a commission by the lender when your loan settles. We’ll tell you how we’re paid before you proceed, as set out in our credit guide.
Can I buy my first home with a family guarantee?
Some lenders let a family member use equity in their property as extra security for your loan. It can reduce the deposit you need, but it carries risk for the guarantor, so everyone should get independent advice.
Ready to start?
Tell us about your plans and we’ll come back to you within one business day.
