Federal Government Schemes
The First Home Guarantee allows eligible buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance. The government guarantees up to 15% of the loan value with limited places available annually on a first-come first-served basis.
State Government Grants
- NSW: $10,000 First Home Owner Grant for new builds under $750,000
- Victoria: $10,000 grant for new homes under $750,000 in regional areas
- Queensland: $30,000 Queensland First Home Owners Grant for new builds
- Western Australia: $10,000 First Home Owner Grant available statewide
Stamp Duty Savings
In NSW, first home buyers pay no stamp duty on homes under $800,000 saving up to $31,000 on the purchase. All states offer some form of exemption or concession for eligible first home buyers.