First Home Buyer Strategy Tool
Check which government schemes and concessions you may be eligible for, and plan your timeline to buy.
Disclaimer: General information only, not financial advice. Estimates are indicative only. Lending criteria and government schemes change regularly. Eligibility for grants and concessions depends on individual circumstances. Verify all information with a licensed broker or lender.
Frequently Asked Questions
What is the First Home Guarantee?
The First Home Guarantee (FHBG) allows eligible first home buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property value.
Am I eligible for the First Home Owner Grant?
Eligibility varies by state and typically applies to new homes only. Price caps and income thresholds apply. Check your state revenue office for current details.
How is the timeline calculated?
We estimate how long it will take to save the remaining deposit and costs based on your current savings and monthly savings rate. This is a simplified estimate.
What costs should I budget for beyond the deposit?
Key costs include stamp duty (if applicable), conveyancing/legal fees (~$2,000-3,000), building and pest inspection (~$500-1,000), and potentially LMI if your deposit is under 20%.