How much deposit do I need as a first home buyer?

Many first home buyers purchase with a 5% to 20% deposit depending on lender criteria, property type and eligibility for government schemes or guarantor support.

Can I buy my first home with a 5% deposit?

Yes. Some lenders and government-supported pathways allow eligible first home buyers to purchase with a 5% deposit. Options may include LMI or schemes that reduce or remove LMI for eligible borrowers.

What is pre-approval and do I need it?

Pre-approval is an indication from a lender of how much you may be able to borrow. It helps first home buyers shop with confidence and make offers with stronger certainty.

Do first home buyers pay stamp duty in Australia?

Stamp duty rules vary by state and property value. Many first home buyers may be eligible for stamp duty concessions or exemptions depending on where they buy and the purchase price.

Is it better to choose a fixed or variable loan as a first home buyer?

It depends on your goals and risk tolerance. Fixed rates offer repayment certainty, variable rates offer flexibility, and split loans combine both.

Does using a mortgage broker cost first home buyers anything?

In most cases, no. Mortgage brokers are typically paid by the lender after settlement, so the service is generally free for borrowers.

First Home Buyer Loans Australia

Buy Your First Home with Confidence – Brampton Finance

Buying your first home is one of the biggest financial decisions you’ll ever make. Brampton Finance helps first home buyers across Australia secure the right home loan, not just a low headline rate, but a structure that sets you up for long-term success.

We specialise in first home buyer loans, guiding you through borrowing power, government grants, stamp duty concessions, lender policies and pre-approval, while comparing 30+ banks and specialist lenders to find the most suitable loan for your situation.

Whether you’re buying an apartment, townhouse, house and land package or building your first home, Brampton Finance removes the confusion and replaces it with clarity, strategy and confidence.

Why First Home Buyers Choose Brampton Finance

First home buyers don’t just need a loan — they need guidance.

Brampton Finance is trusted by first home buyers because we provide:

Access to 30+ Australian banks and non-bank lenders
Low-deposit home loan options (as little as 5%)
Guidance on First Home Owner Grant (FHOG) and stamp duty concessions
Support with government schemes and lender incentives
Pre-approval strategies to buy with confidence
Solutions for PAYG, casual, contract and self-employed buyers
Australia-wide service with deep local market knowledge
No cost to you — we’re paid by the lender after settlement

What Is a First Home Buyer Loan?

A first home buyer loan is a home loan designed for people purchasing their first residential property in Australia. These loans may offer:

Lower deposit requirements
Access to government grants or concessions
Reduced lender mortgage insurance (LMI) under certain schemes
Flexible features such as offset accounts and redraw

Brampton Finance ensures your first loan is structured correctly from day one, avoiding costly mistakes that can limit your future options.

How Much Deposit Do First Home Buyers Need?

Most first home buyers need between 5% and 20% deposit, depending on:

The lender
Property type
Your income and credit profile
Whether you’re using a government scheme or guarantor

We regularly help first home buyers:

Purchase with a 5% deposit
Avoid or reduce Lenders Mortgage Insurance (LMI)
Use family guarantor loans where appropriate

First Home Buyer Government Grants & Schemes

First Home Owner Grant (FHOG)

The FHOG provides eligible first home buyers with a one-off government grant, usually for new or substantially renovated homes. Grant amounts and rules vary by state.

Stamp Duty Concessions & Exemptions

Many first home buyers receive reduced or zero stamp duty, depending on:

Property value
Location
Whether the property is new or established

First Home Guarantee Scheme

This federal scheme allows eligible buyers to purchase with as little as 5% deposit without paying LMI, subject to caps and availability.

Brampton Finance checks your eligibility and integrates these benefits into your loan strategy.

First Home Buyer Loan Options Explained

Variable Rate Home Loans

Flexible loans that allow extra repayments, offset accounts and redraw facilities — ideal for buyers wanting long-term flexibility.

Fixed Rate Home Loans

Lock in your interest rate for a set period to protect against rate rises and provide repayment certainty.

Split Loans

Combine fixed and variable rates to balance flexibility and stability — a popular choice for first home buyers.

Offset Accounts

Reduce interest payable by offsetting your loan balance with savings, helping you pay off your loan faster.

Buying Your First Home: Step-by-Step Process

1. Borrowing Power Assessment

We calculate how much you can borrow based on your income, expenses and lender policies — not online calculators.

2. First Home Buyer Strategy Session

We assess grants, deposit options, loan structures and future plans.

3. Pre-Approval

Secure pre-approval so you can confidently make offers or bid at auction.

4. Property Purchase

Buy with confidence knowing your finance is structured correctly.

5. Formal Approval & Settlement

We manage the lender, paperwork and settlement from start to finish.

First Home Buyer Loans for Different Situations

Casual & Contract Workers

We work with lenders that accept non-traditional income and shorter employment histories.

Couples Buying Their First Home

We structure loans to maximise borrowing capacity and future flexibility.

Single First Home Buyers

Tailored strategies to stretch borrowing power without overcommitting.

Self-Employed First Home Buyers

Low-doc and alt-doc options available using BAS or accountant letters.

What Can First Home Buyers Buy?

We assist first home buyers purchasing:

Apartments and units
Houses and townhouses
House and land packages
New builds and off-the-plan properties

Each property type has different lender rules — we handle the details.

First Home Buyer Interest Rates & Costs

Your interest rate depends on:

Loan size and LVR
Deposit amount
Property type
Loan structure and features

We negotiate with lenders to secure competitive rates with minimal restrictions, not teaser rates that disappear later.

Frequently Asked Questions – First Home Buyers

How much can I borrow as a first home buyer?
Borrowing capacity depends on income, expenses, liabilities and lender policy. We provide a personalised assessment.

Do first home buyers pay stamp duty?
Many first home buyers receive stamp duty exemptions or concessions depending on state and purchase price.

Can I buy with a 5% deposit?
Yes. Many first home buyers purchase with a 5% deposit using government schemes or LMI.

Is it better to fix or go variable?
It depends on your goals and risk tolerance. Many first home buyers choose split loans.

Does applying affect my credit score?
We assess lender options before submitting applications to minimise unnecessary credit checks.

First Home Buyer Loans Australia-Wide

Brampton Finance helps first home buyers across:
Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart and regional Australia.

Local insight + national lender access = better outcomes.

Why Use a Mortgage Broker as a First Home Buyer?

Banks only offer their own products. Brampton Finance compares dozens of lenders, giving first home buyers:

More options
Higher approval chances
Better loan structures
Expert guidance from start to settlement

Speak to a First Home Buyer Loan Specialist

Buying your first home doesn’t have to be overwhelming.

Brampton Finance helps first home buyers secure the right loan, the right structure and the right start.

Get a free first home buyer assessment today and take your first step into property ownership.

Get Started Today

At Brampton Finance, we help podiatrists secure the right mortgage solution — saving you time, money, and stress.

📍 Office: Level 7, 35 Spring Street, Bondi Junction NSW 2022
📞 Phone: 02 9389 1077
📧 Email: info@bramptonfinance.com.au

Speak to us today and unlock your home loan benefits.

02 9389 1077