First Home Buyers
Buying your first home in Australia
This hub explains the deposit, schemes, pre-approval and upfront costs that first-time buyers in Australia usually need to understand before they start looking. Each topic links to a detailed guide written in plain language.
Deposits and schemes
How much deposit do you need?
Deposit requirements range from 5 percent schemes up to the traditional 20 percent benchmark that avoids lenders mortgage insurance.
Home loan deposit
Learn how deposit size changes your loan amount, your repayments and whether mortgage insurance applies.
Buying with a 5% deposit
Understand what a 5 percent deposit involves, including the extra costs and insurance that can apply.
First home buyer schemes
Compare the government schemes available to first home buyers and check whether you may be eligible.
Approval and costs
Pre-approval, borrowing power and upfront costs
Pre-approval confirms your genuine borrowing power before you attend auctions or make offers. Your borrowing power depends on income, debts and living expenses.
Upfront costs include state stamp duty, transfer fees and, where it applies, lenders mortgage insurance. Add these to your deposit when you plan your purchase.
Costs of buying a house
Stamp duty, lenders mortgage insurance and other buying costs can change how much cash you need, so check them before you commit.
Stamp duty
Stamp duty is a state tax on property transfers. Rules and concessions vary by state and territory, so check the rules where you plan to buy.