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First Home Buyers
Expert support for first home buyers
Buying your first home is an exciting milestone, but it can also feel daunting. Fortunately, the growth of the Australian home pricing market has proved in time that buying your first home is always worth it. The many advantages to being a first home owner in Australia include eligibility for the First Home Owner Grant (FHOG) and the First Home Buyers Assistance Scheme (FHBAS).
The FHOG is a $10,000 cash payment for newly built or substantially renovated homes and the FHBAS offers stamp duty exemptions or reduced rates on new, established, or vacant land, with eligibility based on property value thresholds.
Our mortgage brokers guide you through every step of the journey, helping you maximise available benefits, explore your home loan options and make informed decisions with confidence. Let us help you turn your first home dream into a reality.
Home Loans
Grants & incentives worth knowing about
The Australian government offers two key schemes designed to take some of the financial pressure off:
The First Home Owner Grant (FHOG) provides eligible buyers with a $10,000 grant toward the purchase or construction of a newly built or substantially renovated home.
The First Home Buyers Assistance Scheme (FHBAS) can reduce or eliminate stamp duty entirely, depending on the value of the property and whether it's new, established or vacant land.
Understanding what you qualify for before you start searching can meaningfully change your budget. That's where we come in.
EQ Lending helps first home buyers cut through the noise by mapping out your eligibility, comparing lenders across the full market and making sure you walk into your first purchase clear-eyed and well-backed.
First Home Buyers
Save on Stamp Duty
First home buyers in NSW may be eligible for stamp duty concessions or exemptions through the First Home Buyers Assistance Scheme (FHBAS). Meeting the eligibility requirements could save you tens of thousands of dollars, making your first home purchase significantly more affordable.
For more information visit Revenue NSW. You can also speak to our lending specialists to find out more and assess your eligibility.
There are specific criteria you must meet for stamp duty fee exemption benefits, for example:
Applicants must be individuals and not a company or trust.
Applicants must be 18 years or older at the date of the purchase agreement.
Neither applicant can have previously owned or co-owned residential property in Australia.
At least one applicant must be a permanent resident or an Australian citizen.
The property must be intended as the applicant's principal place of residence.
$10,000 Grant
First Home Owner Grant
The NSW First Home Owner Grant (FHOG) provides eligible home buyers with a $10,000 grant when purchasing or building a new home. This initiative can help make your first home purchase more affordable, with subject to meeting certain eligibility requirements:
Newly Built Home
For a newly built home, the purchase price must not exceed $600,000.
New Builds
$600K cap
Vacant Land & New Build
For vacant land and a new home build, the combined value must not exceed $750,000.
Land + Build
$750K cap
First Home Only
The grant is only available to those buying or building their very first home.
First home
Eligibility
First Home Buyers
Australian Government 5% Deposit Scheme
The Australian Government 5% Deposit Scheme is a Federal Government initiative designed to help first home buyers enter the property market sooner. Eligible low to middle income buyers can purchase their first home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).
This scheme is especially valuable because buyers with less than a 20% deposit would normally need to pay LMI, which can be a significant additional cost. With multiple eligibility requirements and various first home buyer benefits, the process can quickly get confusing.
Our team of lending specialists make it simple, guiding you through every step and ensuring your first home journey is smooth and stress-free.
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One on One Support
We provide a dedicated lending specialist for every client, guiding you through the loan process from start to finish.
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Unlike traditional banks, we evaluate your unique financial situation and present options that truly work for you.
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From home loans to construction and private lending, we are your personal hub for smarter finance solutions.
FAQs
Frequently asked questions
Have more questions? Our first home buyer specialists are ready to walk you through every grant, scheme, and loan option available to you.
What support is available for first home buyers in NSW?
First home buyers in NSW may be eligible for benefits such as stamp duty concessions or exemptions, the First Home Owner Grant (FHOG), and government-backed deposit schemes. Eligibility depends on factors like property value, location, and your circumstances. We’ll help you understand which benefits apply to you.
How do stamp duty fees work?
The amount of stamp duty fee you pay for a home is directly based on either the property’s price or its current market value, whichever is higher. Therefore, you pay a higher stamp duty fee for a more expensive purchase.
Can I buy my first home if I’ve been declined by a bank?
Yes. Being declined by a bank doesn’t mean you’re out of options. At EQ Lending, we look beyond standard lending criteria and explore alternative solutions that may better suit your financial position.
How does EQ Lending help first home buyers through the process?
We guide you through every step. From understanding your borrowing power and securing pre-approval to navigating grants, paperwork, and lender requirements, our goal is to make your first home purchase simple, informed and stress-free.
Should I speak to a mortgage broker before house hunting?
Yes. Speaking with a broker early helps you understand your budget, loan options and eligibility for grants or schemes. This puts you in a stronger position when you’re ready to make an offer.