First Home Buyers

Becoming a homeowner has been a cherished dream for generations of Australians. However, navigating the journey to homeownership can feel daunting and overwhelming; this is where a mortgage broker can make a world difference. 

At Intuitive Finance, we provide expert guidance and support throughout the entire first-time buyer journey. Our knowledge of first-home buyer schemes, understanding of lender approval requirements, and access to a wide range of lenders ensure that you secure the best financing solution for your needs.

Ready to Start Your First Home Buyer Journey?

Our team is here to help. Book a consultation with one of our experienced brokers today and we’ll guide you through the borrowing process. From start to finish, we’ll help you navigate first home buyer loans and get the right loan for your dream property. 

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Your Options as a First Home Buyer

Today’s first-time buyers have more options than just purchasing a primary residence. With changes in the
property market and evolving lifestyles, many are now opting for property investment as their initial purchase.

Buying a Home

For many Aussie first-time buyers, purchasing a home remains the ultimate goal. This traditional approach allows you to own and live in your property as your primary residence, providing stability and the opportunity to build personal equity over time. With the right advice and financing, buying a home can be a fulfilling and financially sound decision, ensuring that your dream of homeownership becomes a reality.

Discuss Your Options

Rentvesting

Rentvesting is a modern strategy for first-time buyers, where you purchase an investment property while continuing to rent in your preferred location. This approach offers several benefits, including the ability to invest sooner, live in areas you might not be able to afford to buy in, and build equity in income-producing assets. This equity can later be used for further investments or to purchase your own home. By adopting a rentvesting strategy, first-time buyers can kickstart their property investment journey sooner, reaping long-term financial benefits.

Discuss Your Options

Get Help on Your First Home Buyers Journey

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First Home Buyers Guide

Most Common First Home Buyer Loans Australia

When it comes to home loan financing, there are two types of loans that are most commonly used across the board.
These options remain relevant even if, as a first home buyer, you’re utilising a guarantor or a first home buyer
government scheme.

Fixed-Rate Home Loans

Fixed-Rate Home Loans

A fixed-rate home loan is a mortgage where the interest rate remains unchanged for a predetermined period, typically ranging from one to five years. This stability allows you to plan your finances with confidence, knowing that your repayments won’t fluctuate regardless of changes in market interest rates.

Variable-Rate Home Loans

Variable-Rate Home Loans

A variable-rate home loan is a mortgage where the interest rate can vary over time. This means that if interest rates decrease, you could pay less interest on your loan balance, potentially reducing your overall loan cost. They offer the flexibility to adapt to market changes, making them a popular choice for many borrowers.

First Home Owner Grant, Concessions, and Exemptions

There are numerous first home buyer grants available, which can vary over time and are dependent on your state of residence. These grants often come with a range of criteria that can be confusing for first-time buyers to navigate. At Intuitive Finance, we are experts in home loans for first-time buyers, with a deep understanding of available first-time buyer grants. Our team, including mortgage brokers in Sydney and Brisbane, can help you maximise these opportunities to suit your situation, ensuring you apply correctly and make the most of the benefits on offer. Each state has its own schemes to help first home buyers get into the property market. Make sure you know if you’re eligible before buying your first home.

Victorians are eligible for a $10,000 grant, helping you afford properties up to the value of $750,000. Victorian first home buyers also don’t have to pay stamp duty on properties valued up to $600,000, with a concession available for properties valued between $600,001 and $750,000.

Under the current scheme, QLD residents can currently get $30,000 until the 30th June 2026. This is available for those buying or building a new home up to the value of $750,000. You may also be eligible to apply for a full transfer duty concession.

In NSW, you can receive $10,000 for buying a new home valued up to $600,000, or a new home valued up to $750,000 if you enter a contract to build or are an owner-builder. NSW residents are also exempt from paying transfer or stamp duty on homes valued up to $800,000 or a block of land valued up to $350,000.

Western Australians can get $10,000 for new homes south of the 26th parallel, valued up to $750,000, or for new homes purchased north of the 26th parallel valued up to $1m.

Get up to $15,000 for new homes designated as your principal place of residence. There are no property value caps in SA, and Stamp duty relief is available for first home buyers on eligible new homes or vacant land.

In Tasmania, residents are eligible for $10,000 to purchase new homes or off-the-plan properties only. Additionally, until June 30 2026 there is a 100% discount on property transfer duty for first home buyers of established homes with a dutiable value of $750,000 or less.

NT residents can get $50,000 to buy or build a new home, or $10,000 for buying an established home, under the HomeGrown Territory Grant. Both of these grants are available to apply for until the 30th of September 2026.

Buyers in the ACT may be able to apply for the Home Buyer Concession Scheme (for transactions commenced after 30th June 2019) or the First Home Owners Grant (for transactions commenced on or before 30th June 2019). Under the current Home Buyer Concession Scheme, first home buyers are eligible to receive a maximum concession of $35,910. However, the rules for eligibility are complicated, and we highly recommend speaking to an expert.

First Home Buyer Guarantor Loans

One of the most popular home loan options for first-time buyers is a guarantor home loan. These loans are particularly appealing because saving for a deposit has always been challenging. A guarantor loan involves a guarantee from another party—usually parents—who use equity from their own homes or portfolios to secure the deposit. This guarantee can cover the entire deposit or a percentage of it.

By using a guarantor loan, first-time buyers can purchase a property more quickly and may also avoid Lenders’ Mortgage Insurance, making the process more affordable and accessible.

First Home Buyer Guarantor Loans

6 Steps for First Home Buyer Financing

Consult

Our mortgage brokers will start with an initial consultation to understand your needs and goals.

Gather

Next, we’ll collect the necessary information to confirm your financial status.

Review & Propose

We’ll review your financial position and present a tailored proposal with the best options for you.

Agree & Implement

Together, we’ll complete the application paperwork, negotiate with lenders, and make any necessary adjustments.

Complete

We’ll finalise the approvals and arrange for you to sign the formal paperwork.

Settle

Finally, we’ll coordinate the settlement process, ensuring everything goes smoothly.

Government Grants & Schemes for First Home Buyers

Government Grants & Schemes for First Home Buyers

There are numerous First Home Owner Grants available, which can vary over time and are dependent on your state of residence. These grants often come with a range of criteria that can be confusing for first-time buyers to navigate. At Intuitive Finance, we are experts in home loans for first-time buyers, with a deep understanding of available first-time buyer grants. Our team, including mortgage brokers in Sydney and Brisbane, can help you maximise these opportunities to suit your situation, ensuring you apply correctly and make the most of the benefits on offer.

First Home Buyer Journeys

David

David

First home buyer

David, a sales representative and semi-professional footballer, was looking to buy his first home in Melbourne. His key challenges included arranging finance and navigating eligibility for the First Home Buyers’ Grant under State Government legislation.

Karl

Karl

Rentvestor

Karl is a professional AFL player looking to invest in property while playing football, allowing him to begin building a property portfolio that can help him build long-term wealth after his football career.

Our Commitment to the Community

With every loan we settle, you can choose to support Challenge – supporting
kids with cancer, the Movember Foundation, or the Lungitude Foundation.
We donate $20 to your chosen charity and make annual contributions. It’s our
way of giving back and helping those in need.

Frequently asked questions

As a first home buyer in Australia, you may be eligible for several government incentives designed to make buying your first home easier, including the first home buyers grant. Each state has their own grants, concessions, and tax exemptions as well, so it’s important to do your research before making any purchase decisions. Eligibility depends on things like the location of your home, the value of the property you intend to purchase, whether you’re an Australian citizen or not, your income, and more. If you’d like to know which grants and schemes you’re eligible for, book a consultation with an experienced member of our team today.

Most lenders prefer a deposit of at least 20% of the property’s value. However, as a first home buyer you may be eligible to start with as little as 5% and avoid paying Lenders Mortgage Insurance (LMI), under the first home buyers grant. Of course, this will depend on factors like your income level, so be sure to check before committing to anything.

A guarantor loan allows a family member (usually a parent) to use the equity in their property as additional security for your home loan. This can help you buy sooner and potentially avoid paying LMI. The guarantor isn’t responsible for your entire loan, just the portion they guarantee, making it an excellent option for families wanting to help their children enter the property market. Of course, because there are more people involved in the loan there are more risks involved. If you’re thinking about going through with a guarantor loan, one of our expert brokers can guide you through the process and ensure everything is handled correctly.

Yes, you can. Rentvesting is becoming increasingly popular for first home buyers, as it allows you to get your foot in the door of the property market while maintaining lifestyle flexibility. However, most first home buyer grants and schemes require you to live in the property for a certain period to qualify, so you may not be eligible for those benefits if you choose rentvesting. Our team can help you weigh the pros and cons of each approach and structure your purchase accordingly.

Your borrowing capacity depends on several factors: your income, existing debts, living expenses, credit history, the type of loan you’re applying for and more. Most of the time, lenders are simply looking for proof you can make your repayments comfortably while allowing for interest changes. However, everyone’s circumstances are unique, so it’s important to do your research beforehand.

All of these things will depend on which state you’re buying in, your eligibility for First Home Buyer Grants, exemptions and concessions, and your personal life situation. Unless you’re 100% sure you won’t have to pay any additional costs, it’s always better to plan as though you’ll have to pay them and be prepared. Our team can help you work out whether you’ll have to pay additional fees or not and walk you through the process of applying for loans, grants, concessions and exemptions.