Buy your first home with absolute confidence
Step into the market with confidence6.30%Variable rate*
6.55%Comparison rate*
Why getting into your first home matters
Build wealth sooner, save on costs, and finally own your space.
Become a first home buyer
Plan for the future from right now
Access government incentives
Do I qualify as a first home buyer?
These are the key boxes that you need to tick to be a first home buyer.
You don’t own property
You must not have owned any residential property in Australia under your name.
You’ll live in the property
You must live in the property as your principal place of residence for a minimum of 12 months.
Age & residency
Must be Australian citizen or permanent resident, and over the age of 18.
Income & employment
You need a stable income to comfortably support repayments under the lender’s assessment rate.
The property price itself
The scheme has maximum property values, which vary by state & if the property is newly built or established.
Credit and liabilities
Major defaults can make things harder but not always impossible.
Keep close track of your liabilities!
Keep close track of your liabilities!
(Qualifying is easier than most people think!)
Our first home buyer
lending partners
We compare banks so you don’t have to.
Enter The Market With Confidence
Most Australians enter the lending world blind – and honestly the banks love it. We created this Ultimate Guide to fix that. Here’s what you’ll get inside:
Walk into your home loan, confident, and impossible to push around. Let us help you kickstart your journey.
How much money can I borrow for my first home?
Use our famous borrowing power calculator below to estimate how
much money you can borrow
much money you can borrow
No pressure. No credit hit. Big potential reward.
Still got questions?
Answer to your questions
How much deposit do I actually need to buy my first home?
You don’t need 20% to get your foot in the door. While 20% helps you avoid Lenders Mortgage Insurance (LMI), many of our clients start with as little as 5% (or even 2% for eligible clients). By leveraging the First Home Guarantee (FHBG), we can often help you bypass LMI entirely, saving you thousands upfront and getting you into your home years sooner.
What government grants can I get as a first home buyer?
Depending on your state and whether you are buying or building, you may be eligible for the First Home Owner Grant (FHOG) or significant Stamp Duty concessions. These can save you up to $30,000+ in some cases. We stay up-to-date with all federal and state-based schemes, and we’ll automatically check your eligibility as part of your application.
What is Lenders Mortgage Insurance (LMI), and can I avoid it?
LMI is a one-off fee that protects the lender if your deposit is under 20%. There are three main ways we help you avoid it: through government-backed guarantee schemes, by using a family member as a guarantor, or by accessing professional LMI waivers available to certain occupations like medical or legal professionals. We will run the numbers to find the most cost-effective path for your specific situation.
What is a Guarantor Loan, and is it a good idea for first home buyers?
A Guarantor Loan (or Family Security Guarantee) allows a family member to use the equity in their own home as security for your loan. This is a popular option because it can help you buy a home with a 0% deposit and completely avoid the cost of Lenders Mortgage Insurance (LMI). Whether it is a good idea depends on your family’s financial situation, but it is one of the fastest ways to get into the property market sooner.
What happens if I don’t find a property before my pre-approval expires?
Most home loan pre-approvals in Australia last for 90 days. If you haven’t found a home in that time, don’t worry—Loanity can easily apply for an extension or a refresh of your pre-approval with the lender. We will simply update your recent payslips and bank statements to ensure your financial position hasn’t changed, keeping you ready to make an offer when the right property appears.
Can Loanity help me if I’m self employed or have non-standard income?
We absolutely can! We work with lenders who specialise in self-employed and contractor income. Whether you have tax returns, BAS statements, or alternative documentation, we’ll help structure your application so you’re in the strongest possible position.
Find out more here.