First Home Buyers

As a first home buyer, to find a good home loan you should investigate both your home loan options and government grants/entitlements, and get help from the appropriate professionals – which include a Loan Market mortgage broker, accountant, financial planner and solicitor.

What to Consider as a First Home Buyer

As a first home buyer, you should consider:

• what federal and state grants are available to you as a first home buyer
• what introductory or honeymoon rate loans, limited guarantor loans (family equity loans) and low deposit loans
• the size of your deposit and where you will source this from
• the fees and charges associated with purchasing a property
• undertaking thorough research on the property market
• finding a good mortgage broker, accountant, financial planner and solicitor

Grants, Savings Schemes and Subsidies

First home buyers may be able to access federal and state-based grants and subsidies which can help to reduce the costs associated with buying your first home. These include:

• The federal government’s First Home Owners Grant
• stamp duty discounts
• First Home Saver Scheme
• State-based first home buyer incentives

First Home Buyer Grants

The First Home Owners Grant (FHOG) is a $7,000 grant available to eligible first home buyers. It is federally funded, but administered by your State Government. There are also additional grants and concessions available for first home buyers in most states. See Loan Market’s first home buyer benefits by state summary for further information.

First Home Buyer Benefits by State Summary

First Home Buyers Grants in Australia

First Home Buyer Grants Northern Territory

First Home Buyer Grants New South Wales

First Home Buyer Grants Queensland

First Home Buyer Grants South Australia

First Home Buyer Grants Tasmania

First Home Buyer Grants Victoria

First Home Buyer Grants Western Australia