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Loans, Grants &
Schemes
Ready to stop renting? Our brokers help you work out what you can borrow, which grants and schemes you qualify for, and whether you could buy with a 5% deposit.
- \5% Deposit Scheme help
- \Panel of 50+ lenders
- \Local brokers Australia-wide
First Home Buyer - Leads Contact Form
Start your journey, speak with a home loan expert today!
BUY SOONER
From a 5% deposit with the 5% Deposit Scheme
NO LMI
For eligible buyers under the scheme
GRANTS AND CONCESSIONS
We check what you’re eligible for
LOCAL BROKERS
Face to face or over the phone, Australia-wide
YOUR OPTIONS
Your first home buyer options
There’s more than one way into your first home. Your broker will help you find the path that fits your savings.
Standard home loan
Saved 10% to 20%? Compare loans across our panel of lenders.
5% Deposit Scheme
Buy with a 5% deposit and no LMI if you’re eligible.
Family guarantee
Parents can use equity in their home to help secure your loan.
Building your first home
Grants often favour new builds. See how construction loans work.
THE SHORT VERSION
How much deposit do I need for my first home?
QUICK ANSWER
Most lenders want a 20% deposit to avoid lenders mortgage insurance (LMI). Under the Australian Government’s 5% Deposit Scheme, eligible first home buyers can buy with a 5% deposit and no LMI. You’ll also need savings for stamp duty, legal fees and moving costs.
The 5% Deposit Scheme
- EBuy with a 5% deposit and no LMI (2% for eligible single parents)
- ENo income caps or limits on places since 1 October 2025
- EProperty price caps apply, depending on where you buy
- EFor Australian citizens and permanent residents
- EYou must move in within six months of settlement
Check eligibility at firsthomebuyers.gov.au
First Home Owner Grant by state
| NSW | $10,000 |
| VIC | $10,000 |
| QLD | $30,000 |
| WA | $10,000 |
| SA | Up to $15,000 |
| TAS | $20,000 |
| NT | $50,000 HomeGrown Territory Grant |
| ACT | No grant, stamp duty concession instead |
Grants are generally for new homes, with price caps and conditions that vary by state. Check current amounts with your state revenue office.
STEP BY STEP
How to buy your first home, step by step
01
Check your borrowing power
Know your budget before you start looking.
02
Check grants and schemes
We confirm what you’re eligible for.
03
Get pre-approval
Shop and make offers with confidence.
04
Find your home
Make an offer or bid at auction.
05
Settlement
We work with your conveyancer through to the keys.
GET READY
What you’ll need to apply
- EPhoto ID such as a driver's licence or passport
- EThree months of bank statements showing savings
- EA summary of your living expenses
- ETwo recent payslips or tax returns if you’re self-employed
- EDetails of credit cards, HECS-HELP and other debts
- EYour gift letter, if family is helping with the deposit
Self-employed? Your paperwork may look different. See our self-employed home loans or build your Financial Fingerprint in about 3 minutes, with no credit check.
WHY YELLOW BRICK ROAD
Why go with us?
01
We search, compare & negotiate
We research the market and compare rates from our panel of 50+ lenders.
02
We do the heavy lifting
We manage the application from start to settlement.
03
You choose the right loan
We present the options and the facts, so you can decide.
CALCULATORS
How much money you could borrow
How much could you borrow, and what would repayments look like? Start here.
What I can borrow?
Repayments calculator
Extra repayments
Stamp duty calculator
CLIENT STORIES
What our clients have to say
Excellent service and attention to detail. We would highly recommend YBR and are extremely grateful for the support we receive from Struan and Jess.
Dale Wylie
Self-Employed
I’ve dealt with Andrew and his team at Yellow Brick Road Rosanna on many occasions and he is excellent to work with. Very professional. A top result for our home loan.
Matt Hodgson
Self-Employed
Andrew has given us great service every time we have used Yellow Brick Road at Northlakes to refinance our home loans. Andrew is very approachable, honest and knowledgable.
Melissa Luhrman
Self-employed
FAQS
First home buyer FAQs
What's the best home loan for a first home buyer?
It depends on your deposit, income, the property and the features you need, so there’s no single best loan for everyone. A YBR broker compares first home buyer loans from our panel of 50+ lenders and checks which grants and schemes you can use alongside your loan.
What is the 5% Deposit Scheme?
It’s an Australian Government scheme that lets eligible first home buyers purchase with a 5% deposit without paying LMI. The government guarantees part of the loan with a participating lender. Since 1 October 2025 there are no income caps or limits on places.
Who is eligible for the 5% Deposit Scheme?
Australian citizens and permanent residents who haven’t owned property in Australia in the past 10 years, buying a home to live in below the price cap for their area. You must move in within six months of settlement.
How much can I borrow as a first home buyer?
It depends on your income, expenses, debts and deposit. Lenders assess each one differently, so a broker can show you a realistic range across our panel. Start with our borrowing power calculator.
Do first home buyers pay stamp duty?
Most states offer stamp duty exemptions or concessions for first home buyers below certain price thresholds. The rules differ by state, so check our stamp duty calculator or ask your broker.
What is the First Home Owner Grant?
A one-off state or territory grant for first home buyers buying or building a new home. The amount and conditions vary by state, and most grants don’t apply to established homes.
What is pre-approval?
Pre-approval is a lender’s conditional agreement to lend you up to a set amount. It helps you set a budget and make offers with confidence. It isn’t final approval and usually lasts a few months.
Can my parents help me buy my first home?
Yes. Parents can help with a gifted deposit or by acting as guarantor, using equity in their home to secure part of your loan. A guarantor takes on real risk, so everyone should get independent advice first.
What costs should I budget for besides the deposit?
Budget for stamp duty if it applies, conveyancing, building and pest inspections, loan fees and moving costs. Your broker can help you work out the full amount before you start looking.
Can I buy my first home if I’m self-employed?
Yes. Lenders assess self-employed income differently, so the right lender matters. If your tax returns are up to date, you can usually apply like any other first home buyer. If they’re not, low doc and alt doc loans let you prove your income another way. Build your Financial Fingerprint to see how lenders may view your business, or speak with a broker.
GUIDES AND TOOLS
Learn more before you talk to a broker
RBA Lifts Cash Rate to 4.60% – What It Means for Borrowers
The RBA has raised the cash rate to 4.60% at its September meeting, a unanimous decision. See what it means for your home loan repayments.
Rates to rise again in September?
All four major banks are now forecasting the RBA will lift the cash rate at its September meeting.
Is the property market really crashing, or just splitting in two?
Hotspotting’s Tim Graham joins Mark Bouris on Property Insights to explain why Australia’s property market has fractured, which suburbs are still growing, and what the federal budget means for buyers, sellers and investors.
Your first home is
a big step.
We’re here to help
First Home Buyer - Leads Contact Form
Start your journey, speak with a home loan expert today!
