Buying your first home?

First Home Buyer Loans Sydney | Mortgage Broker | Buyvest

Home loans for first home buyers

Buying your first home.
5% deposit. $0 cost.

Access the 5% Deposit Scheme, Help to Buy, the First Home Owner Grant and stamp duty savings. Your Sydney first home buyer mortgage broker. 35+ lenders, $0 cost.

0426 002 202 Let's meet
35+
Lenders
5%
Deposit, no LMI
$40k+
Combined savings
$0
Cost to you

How do I buy my first home in Sydney?

Buying your first home starts with knowing your numbers. We check your borrowing power across 35+ lenders, work out which government schemes you qualify for, and get you pre-approved so you can search with confidence. Our service costs you $0, and you deal with the same broker from your first call to settlement.

Saving a full 20% deposit is the biggest hurdle for most first home buyers, and it can take years. The good news is you may not need it. With the 5% Deposit Scheme you can buy with a 5% deposit and no LMI. With Help to Buy you may only need 2%. A guarantor loan can cut the deposit even further.

You can also stack help. First home buyers in NSW pay no stamp duty up to $800,000, can claim the First Home Owner Grant on a new home, and can grow a deposit inside super with the First Home Super Saver Scheme. Read the full first home buyers journey, or explore all pathways to home ownership.

The numbers

How much deposit do you need to buy your first home?

With the 5% Deposit Scheme you skip LMI and buy sooner. Here is what a 5% deposit looks like against a full 20% deposit at different Sydney price points.

Property value20% deposit5% depositLMI you avoid
$650,000$130,000$32,500~$25,000
$700,000$140,000$35,000~$30,000
$800,000$160,000$40,000~$34,000
$900,000$180,000$45,000~$39,000
$1,000,000$200,000$50,000~$44,000
$1,200,000$240,000$60,000~$53,000
$1,500,000$300,000$75,000~$66,000

Estimates only. LMI varies by lender, insurer, and your profile. The 5% Deposit Scheme covers Sydney purchases up to $1,500,000. Use our property deposit calculator for your numbers, or book a free consultation and we will work out your exact deposit and savings.

How much can you save buying your first home?

We check every scheme you qualify for, work out your borrowing power across 35+ lenders, and show you the deposit you really need. Clear answers, no pressure.

0426 002 202 Let's meet

MFAA member. 10+ years lending experience. $0 cost to you.

Why Buyvest

Why do first home buyers choose Buyvest?

A first home is a big step. A first home buyer mortgage broker who knows the schemes, the lenders, and the traps makes it simpler.

35+ lenders compared

Every lender prices and assesses first home buyers differently. We compare 35+ and match you with the one most likely to approve you at a low rate.

Every scheme checked

The 5% Deposit Scheme, Help to Buy, the grant, stamp duty savings, and super. We check each one you qualify for and stack them where we can.

$0 cost, best interests by law

The lender pays us when your loan settles. Your rate is the same either way. The Best Interests Duty means we must put you first.

Fast pre-approval

We prepare your full file and submit it right the first time. Some first home buyers are pre-approved within hours, so you can bid with confidence.

Sydney market know-how

We know Sydney suburbs, price caps, and which properties fit each scheme. We help you see what you can really afford.

With you to settlement and beyond

We handle the paperwork, the valuation, and your solicitor, then check your rate every year after you move in.

Which first home buyers qualify for help in NSW?

Most first home buyers qualify for at least one form of help. It comes down to a few simple rules, not a high income. To use the main schemes you usually need to:

  • Be at least 18 years old.
  • Be an Australian citizen or permanent resident. The exact rule can differ by scheme.
  • Be buying your first home to live in, not as an investment.
  • Have never owned property in Australia before.
  • Buy within the price cap for your scheme and area.

Which government schemes can first home buyers use?

The main ones in NSW are the 5% Deposit Scheme, Help to Buy, the First Home Owner Grant, the stamp duty exemption, and the First Home Super Saver Scheme. Each has its own rules and caps. Several can be combined. We check every one you qualify for at $0 cost.

Who might miss out on first home buyer help?

If you have owned property in Australia before, most schemes are closed to you, though you can still buy with a guarantor loan or a 20% deposit. Investors do not qualify for the owner-occupier schemes. Buying above the price cap can rule a scheme out. The lines are drawn in a different place for each scheme, so ask us and we will check where you stand.

The schemes

What first home buyer schemes can you use in NSW?

Not every buyer knows how many schemes exist, or that several can be stacked. Here are the big ones for 2026.

5% Deposit Scheme

Buy with a 5% deposit and no LMI. The government guarantees 15% of the loan. No income cap and unlimited places. Sydney cap $1,500,000.
Read the guide

Help to Buy

The government co-owns up to 40% of a new home or 30% of an existing one. You need just a 2% deposit. Income caps $103,000 single and $165,000 joint or single parent. Sydney cap $1,300,000.
Read the guide

First Home Owner Grant

$10,000 for a brand new home up to $600,000, or land plus build up to $750,000. It is for new homes only in NSW, not existing ones.
Read the guide

Stamp duty savings

No stamp duty up to $800,000, and a smaller bill between $800,000 and $1,000,000. That can save you more than $30,000 upfront.
Read the guide

First Home Super Saver

Grow up to $50,000 for your deposit inside super, taxed more kindly than a normal savings account. Couples can reach $100,000. Ask your accountant about the tax side.
Read the guide

Stacking schemes

These schemes can be combined. Use super to build your deposit, the 5% scheme to skip LMI, and the stamp duty saving on top. Combined help can top $40,000.
See pathways
Your situation

What is the best first home buyer path for your situation?

The right move depends on your deposit, your income, and the kind of home you want.

Buying with a small deposit

The 5% Deposit Scheme lets you buy with a 5% deposit and no LMI, and you own 100% of the home. It suits buyers with a steady income who want the whole home in their name.

Example scenario

Priya and Sam, combined income $95,000, $40,000 saved. They want a $720,000 apartment in Sydney. At a 5% deposit their contribution is $36,000. As first home buyers under $800,000 in NSW they pay zero stamp duty. Under the scheme they pay zero LMI, where a regular borrower could pay about $30,000. They own the whole home from day one.

Buying with the smallest possible deposit

Help to Buy lets the government co-own part of your home, so you need only a 2% deposit and your loan and repayments are smaller. You buy the government share back over time, and income and price caps apply.

Example scenario

Jordan, single, income $95,000, $18,000 saved. Jordan buys an existing $600,000 unit with Help to Buy. The government co-owns 30%, so Jordan borrows on the other 70%. A 2% deposit is $12,000. The smaller loan means lower repayments. Jordan can buy back the government share later, and there is no LMI.

Buying a brand new home or house and land

A new home can unlock the First Home Owner Grant on top of your stamp duty saving. With a house and land package on two contracts, stamp duty is worked out on the land only, which can keep you under the exemption.

Example scenario

A first home buyer builds a $720,000 house and land package. The land is $340,000 and the build is $380,000 on separate contracts. Stamp duty is worked out on the $340,000 land, which sits under the $350,000 land exemption, so the duty is zero. The buyer also claims the $10,000 grant for the new build.

Growing your deposit faster

The First Home Super Saver Scheme lets you save up to $50,000 inside super, taxed more kindly than a normal savings account, then withdraw it for your deposit. Couples can reach $100,000. Ask your accountant about the tax side.

Little or no deposit with family help

A guarantor loan uses a family member's property as extra security. It can cut or even remove your deposit and skip LMI. The guarantor only backs part of the loan, and their support can be released once you build enough equity.

Help to Buy or the 5% Deposit Scheme, which fits you?

Both let you buy with a small deposit and skip LMI, but they work in different ways. The 5% Deposit Scheme keeps the whole home yours, has no income cap, and covers Sydney up to $1,500,000, but you carry a full loan on 95% of the price.

Help to Buy gives you the smallest deposit at 2% and much lower repayments, because the government co-owns part of the home. The trade-offs are tighter income caps ($103,000 single, $165,000 joint or single parent), a lower Sydney cap of $1,300,000, limited places, and buying the government share back later. We walk you through both and show you the numbers side by side.

Borrowing power

How can first home buyers boost their borrowing power?

Our founder spent 8+ years inside a major bank approving and declining loans. He knows what gets a yes. Your application gets built to be approved at the highest amount.

Pre-assessed before submission

Most brokers submit and hope. We check your file against the lender's rules first, so problems get fixed before they cause a decline.

Tested across every lender

On the same income, the gap between lenders can be $100,000 or more. We find the one that reads your income, debts, and expenses the best way.

Clear the small debts first

A $10,000 credit card limit can cut your borrowing by $30,000 to $50,000. Afterpay and Zip count too. Closing unused accounts before you apply is an easy win.

Genuine savings sorted

Many lenders want to see savings you built yourself. We show you what counts as genuine savings and how a gift from family can fit in.

HECS and expenses read right

HECS and everyday living costs lower what you can borrow. Some lenders treat them more kindly than others, and we find the one that hits you least.

Inside lending experience

Ali Hasani spent 8+ years as a Senior Mobile Lending Specialist at one of Australia's big four banks. MFAA accredited, with a perfect settlement record.
Meet the team
How it works

How do you buy your first home with Buyvest?

1

Free assessment and pre-approval

We check your borrowing power across 35+ lenders, confirm which schemes you qualify for, and get you pre-approved so you can search with confidence.
2

Compare and choose

See your best options side by side. Rates, fees, offsets, deposit size, and which lender and scheme fit you best. You choose.
3

Settle and move in

We handle the application, valuation, and settlement, and work with your solicitor. Once you move in, we review your rate every year.
Plan ahead

What can first home buyers afford?

See your deposit, your borrowing power, and your repayments before you start looking.

Property deposit calculator

Enter your savings and see your maximum purchase price at 5%, 10%, and 20% deposits, with stamp duty included.
Calculate

Mortgage repayment calculator

Estimate your repayments across different rates and loan terms before you commit.
Calculate

Home equity calculator

Once you own, see how much equity you can pull out for your next home or an investment.
Calculate

First home buyer loans, first home buyer grants, the 5% Deposit Scheme, Help to Buy, the First Home Owner Grant, stamp duty savings and the First Home Super Saver for first home buyers across Sydney and Australia wide.

Client reviews

5.0 ★★★★★ on Google

★★★★★
"I had a wonderful experience with Ali. He made the process very straightforward and easy to understand for a first home buyer. I will be recommending my friends use him."
Verified Google review
★★★★★
"Ali is an outstanding mortgage broker who made the entire process smooth and stress-free. From the very first consultation, he took the time to understand my needs and explained every step clearly. His knowledge of lending options and ability to secure competitive rates gave me confidence that I was in the right hands. What impressed me most was his responsiveness."
Verified Google review
★★★★★
"Had a great experience with Ali where he explained all my options and helped me understand exactly how my loan would work and with the best rate possible. Thanks for your help!"
Verified Google review
FAQ

Frequently asked questions about buying your first home

Real answers to the questions first home buyers ask us every day.

How do I start buying my first home in Sydney?
Start by speaking with a mortgage broker who compares 35+ lenders. We check your borrowing power, work out which government schemes you qualify for, and get you pre-approved so you can search with confidence. Our first home buyers journey guide walks you through every step.
What are the steps to buy your first house in NSW?
Work out your budget, build your deposit, get pre-approved, search for the right home, make an offer by private treaty or auction, get formal approval including the bank valuation, then move to settlement. The right broker guides you through each stage.
How long does buying your first home take from pre-approval to settlement?
Pre-approval can take a few hours to a few days. Once you find a home, settlement is usually about 42 days, though it can run from 30 to 90 days depending on the contract. From first chat to moving in, most buyers take 2 to 6 months, depending on how quickly they find the right place.
How much stamp duty will I pay as a first home buyer in NSW?
You pay zero stamp duty on homes up to $800,000. Between $800,000 and $1,000,000 you get a smaller bill on a sliding scale. Above $1,000,000 the full rate applies. Our NSW stamp duty guide has the full thresholds.
How do I get a stamp duty estimate for my first home purchase?
You can use the Revenue NSW stamp duty calculator online for an exact figure, or ask us during your free consultation and we work it out as part of your total costs. For homes under $800,000, your stamp duty as a first home buyer is $0. We build it into your budget so there are no surprises.
Am I exempt from stamp duty as a first home buyer in NSW?
Yes, if your home is valued at $800,000 or less. That full exemption can save you more than $30,000. Between $800,000 and $1,000,000 a smaller concessional rate applies. For vacant land the exemption runs up to $350,000, with a concession to $450,000. You must move in within 12 months and live there for at least 12 continuous months.
What first home buyer grants and schemes are available in NSW?
The main ones are the First Home Owner Grant ($10,000 for new homes), the stamp duty exemption up to $800,000, the 5% Deposit Scheme with no LMI, Help to Buy with a 2% deposit, and the First Home Super Saver Scheme. Stacked together, they can save you more than $40,000.
How do I apply for the first home buyers scheme in NSW?
The 5% Deposit Scheme is applied for through a participating lender or broker as part of your home loan, so there is no separate form. The First Home Owner Grant is lodged through your lender at settlement. The First Home Super Saver is applied for through the ATO. We guide you through every one at $0 cost.
Can I combine multiple first home buyer grants and schemes?
Yes. You can stack the 5% Deposit Scheme with the stamp duty exemption, the grant on a new home, and the First Home Super Saver for your deposit. On a new home around $650,000, combined help could top $40,000. We check every scheme you qualify for.
How does the 5% Deposit Scheme work for first home buyers?
You buy with a 5% deposit and the government guarantees another 15% to your lender, so you skip LMI. On a $700,000 home that means about $35,000 deposit instead of $140,000, and you save roughly $25,000 to $30,000 in LMI. Our full guide covers eligibility and how to apply.
What is the property price cap for the 5% Deposit Scheme in Sydney?
The Sydney cap is $1,500,000, up from $900,000. Regional NSW is $800,000. That higher cap opens up a much wider range of Sydney homes than before. Read about the benefits and risks of the scheme.
Is there an income cap for the 5% Deposit Scheme?
No. From October 2025 the income limits were removed, so it no longer matters whether you earn $80,000 or $300,000. The scheme also has unlimited places, so it is no longer a race to secure a spot. You still need to meet your lender's normal serviceability rules.
Help to Buy or the 5% Deposit Scheme, which is better for me?
It depends on what matters most to you. The 5% Deposit Scheme keeps the whole home yours, has no income cap, and covers Sydney up to $1,500,000, but you carry a full loan on 95% of the price. Help to Buy needs only a 2% deposit and gives you lower repayments, because the government co-owns part of the home, but it has income caps of $103,000 single and $165,000 joint or single parent, a Sydney cap of $1,300,000, limited places, and you buy the government share back over time. We show you both side by side.
How do I find the lowest rate home loan for first home buyers?
A broker compares low rate options across 35+ lenders for you. Each lender prices differently based on your deposit, job type, and the property. The lowest rate at one lender may not be the lowest for your situation. We show your best options with the total cost, not just the headline rate. Our service costs $0.
What home loan rates can first home buyers expect?
Rates change with the lender, loan type, deposit size, and your profile. A broker can reach rates from 35+ lenders, including offers that are not advertised. The best way to see your real rate is to book a free consultation. Rates move often, so contact us for today's best.
Should I choose a fixed or variable rate for my first home loan?
Variable rates give you flexibility with extra repayments and an offset. Fixed rates give you certainty for 1 to 5 years. Many first home buyers split their loan, fixing part and keeping part variable. Our choosing the right finance guide explains the trade-offs.
Should I use a mortgage broker or go directly to my bank?
Your bank can only offer its own products. A broker compares 35+ lenders, often finding a better rate, lower fees, or a structure that fits first home buyers better. A branch may not mention every scheme. Our service costs $0, and the Best Interests Duty means we must recommend what is best for you.
How much does a mortgage broker cost for first home buyers?
$0. The lender pays us a commission (typically 0.45% to 0.65% of the loan) when your loan settles. On a $600,000 loan that is roughly $2,700 to $3,900, paid by the lender, not you. Your rate is the same either way. Meet our team.
What does a mortgage broker do for first home buyers?
We check your borrowing power, confirm which grants and schemes you qualify for, compare 35+ lenders, handle the paperwork and lender chase, arrange the valuation, work with your solicitor, and guide you through to settlement. A good broker saves you time, money, and stress.
What is the Help to Buy (Shared Equity) Scheme?
Help to Buy is a federal shared equity scheme. The government co-owns up to 40% of a new home or 30% of an existing one, so your loan and repayments are smaller and you need only a 2% deposit. Income caps are $103,000 single and $165,000 joint or single parent, and there are 10,000 places for 2026-27. It runs through participating lenders including CBA and Bank Australia, with more joining through 2026. You buy the government share back over time. Read our full Help to Buy guide.
Can I buy with less than 20% deposit without paying LMI?
Yes. The 5% Deposit Scheme skips LMI with a government guarantee. A guarantor loan using family property also skips it. Some professionals, like doctors, lawyers, and accountants, get LMI waived up to 90% to 95%. Help to Buy needs only a 2% deposit. Our LMI guide explains every option.
How much deposit do I need to buy my first home in Sydney?
With Help to Buy you need just 2%. With the 5% Deposit Scheme you need 5%. A guarantor loan can cut it further. Without a scheme, most lenders want 10% to 20%. On a $700,000 Sydney home, deposits range from about $14,000 to $140,000. Check your genuine savings and use our property deposit calculator.
Do I need genuine savings, or can I use a gift for my deposit?
Both can work. Many lenders want to see genuine savings, money you built up yourself over about three months, such as regular savings or shares. A gift from a parent can count too, but some lenders then want a small amount of genuine savings on top, or proof you can pay rent and bills on time. Rules differ by lender, and under the 5% Deposit Scheme a gifted deposit can be fine with the right lender. We match you with one that accepts your deposit as it is. Read our genuine savings guide.
What property types can I buy as a first home buyer?
You can buy a freestanding house, a strata apartment or townhouse, an off the plan property, or land to build on. Each has its own deposit rules and scheme eligibility. Our how to buy the right property guide compares them.
How much can I borrow for my first home?
It depends on your income, debts, living costs, and the lender's rules. Each lender works it out differently, which is why comparing 35+ lenders lifts your borrowing power. Clearing small debts helps too. Use our mortgage repayment calculator to see repayments at different loan amounts.
How quickly can I get pre-approved for a first home loan?
Some first home buyers are pre-approved within hours. More complex files take a few days. We prepare everything upfront and submit to the right lender the first time. Pre-approval makes your offers stronger, and it usually lasts about 90 days. Read our pre-approval guide.
Where to next

What else can Buyvest help first home buyers with?

Explore the guides and services first home buyers use most.

5% Deposit Scheme

Read guide

Help to Buy

Read guide

NSW stamp duty

Read guide

First Home Owner Grant

Read guide

First Home Super Saver

Read guide

Genuine savings

Read guide

Guarantor loans

Learn more

Self employed loans

Learn more

No LMI home loans

Learn more

LMI explained

Read guide

Pre-approval

Read guide

Pathways to ownership

Read guide

Your first home is closer than you think.

We compare 35+ lenders, check every scheme you qualify for, push for a sharper rate, and get you pre-approved fast. $0 cost.

0426 002 202 Let's meet

MFAA member. 10+ years lending experience.

First home buyer loan Sydney specialists helping buyers across 220+ suburbs and Australia wide. Meet our team. Service regions: Sydney CBD, Sydney Central, Eastern Suburbs, Northern Beaches, North Shore, Inner West, Sutherland Shire, Hills District, St George, Canterbury-Bankstown, Western Sydney, Penrith.