Buying your first home
Buying your first home can be a mix of emotions. We'll guide you at every step, so you'll have all the enjoyment and less of the stress.
What you’ll find here
- What to expect
- Grants, schemes and support
- Guides, calculators and other tools
Helpful things to know when you buy your first home
Understanding the process
Saving for your deposit
Finding your price range
Understanding your loan options
Home buying schemes to help you get into your first home
First Home Owners’ Grant
The First Home Owners’ Grant (FHOG) is a one-off payment from the federal or state government of up to $10,000 to put towards a purchase or build of a first property. T&Cs apply.
Home Guarantee Scheme
With this government-initiated scheme, eligible applicants can choose from three guarantees2, with a low deposit of 2-5% and no Lenders Mortgage Insurance applicable. T&Cs apply.
Home buyers’ tip #1
If the property’s been on the market a long time, the owners might entertain a low-ball offer. Worth a shot, right?
Choose your next step
Support at every stage
You may also like
Things you should know
Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.
This information is general in nature and has been prepared without taking your personal objectives, circumstances and needs into account. You should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.
The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.
1 Family Security Guarantee: The guarantor should consider the risks associated with the Family Security Guarantee, primarily that if the borrower defaults on their loan, the guarantor is liable to pay up to the maximum of the portion of security they have put forward as a guarantee. You will be required to seek independent legal advice before offering to guarantee a loan. Credit criteria apply to the assessment of the adequacy of any proposed guarantee limit.
Offer available on all loans eligible under the Family Security Guarantee, for purchase or refinance of owner occupier or investment property. Note that for investment properties, the borrower must not have ownership of any other properties at the time of application, and for owner occupied properties a maximum of one other property may be owned which does not have sufficient equity to provide a security. For new Family Security Guarantee Home Loan applications received from 23 October 2020. Family Security Guarantee can be provided by parents or legal guardians, siblings, and children. Equity access, owner builder applications, Line of Credit and Bridging Loan products are not eligible under the Family Security Guarantee. Other Exclusions may apply. Not available for the purposes of debt consolidation, owner builder construction, cash out, or addition of a security guarantee to an existing loan. $150k minimum loan size applies. Credit criteria, fees and charges apply. Offer may be varied or withdrawn at any time. Full eligibility criteria on the Family Security Guarantee is available on request.
2 To find out more visit the Home Guarantee Scheme website. Once our allocation of loans under the scheme has been exhausted, standard lending approval criteria, including the need for LMI and LDP where appropriate, will apply.