First Home Buyers
Government Support for
First Home Buyers in Australia
If you're a first home buyer in Australia, several government initiatives can help ease the financial burden and make home ownership more accessible.
Here are the key programs to consider, these programs can significantly reduce the costs of buying your first home.
First Home Owner Grant (FHOG)
A one-time grant available to first home buyers across Australia. The amount varies depending on your state or territory, and it typically applies to the purchase of a new or substantially renovated home.
First Home Guarantee
This scheme allows first home buyers to secure a home loan with just a 5% deposit without needing to pay for Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the loan, reducing the upfront cost.
First Home Super Saver Scheme (FHSSS)
This program lets you save for your home deposit through your superannuation. By using this scheme, you can take advantage of lower tax rates, helping your savings grow faster.
Stamp Duty Concessions
Some states and territories offer stamp duty concessions or exemptions for first home buyers, depending on the value and type of the property. This can significantly reduce one of the largest upfront costs of buying a home.
Book a Free Consultation
Choose a time that works for you and speak with us about your loan needs. All appointment times are shown in Australian Eastern Standard Time (AEST).
What happens after you book?
From understanding your situation to comparing loan options, preparing documents and planning the next step, BV Finance guides you through the process with clarity.
We take time to understand your income, goals, deposit, current loan situation or investment plans, so we can identify what needs attention first.
Based on your situation, we help compare suitable banks, lenders, interest rates, loan features and potential costs.
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We guide you through the documents needed for your home loan, refinancing, business loan or other finance application.
We help you understand whether it makes sense to apply now, seek pre-approval, review your cash flow or wait for a better timing.