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Buying your first home is one of the biggest financial decisions you will ever make. It is also one of the most exciting. At Zella Money, we work with first home buyers every day, and we know that what people want most is not a stack of brochures or a confusing online calculator. They want someone who actually understands their situation, explains things clearly, and helps them feel confident about what comes next.
What first home buyers can access right now
The good news is that there is genuine support available for first home buyers in Australia, and it has expanded significantly in recent years. The Australian Government's 5% Deposit Scheme, now operative from 1 October 2025, allows eligible first home buyers to purchase a property with just a 5% deposit. Housing Australia guarantees the difference between your deposit and 20% of the property value, which means no Lenders Mortgage Insurance (LMI) is payable. There are no income caps and no annual place limits under this scheme, which is a meaningful change from earlier versions of the program. Eligible single parents or legal guardians may purchase with as little as a 2% deposit. Property price caps apply and vary by location, so it is worth understanding what applies in your target suburb before you set your first home buyer budget.
For those who want to explore shared equity options, the Help to Buy Scheme became operative from 5 December 2025. Under this program, the Australian Government contributes up to 40% of the purchase price for a new home and up to 30% for an existing home, in exchange for a proportional equity stake. A minimum 2% deposit is required, and income limits of $100,000 for individuals and $160,000 for joint applicants apply. Help to Buy cannot be combined with the 5% Deposit Scheme, but it can generally be used alongside applicable state grants and duty concessions.
State and territory grants and stamp duty concessions
First home buyer grants and stamp duty concessions vary considerably depending on where you are buying. Here is a current summary across Australian states and territories.
In New South Wales, first home buyers can access a $10,000 First Home Owner Grant for new builds or substantially renovated homes with a purchase cap of $600,000, or a land and build cap of $750,000. A full transfer duty exemption applies on properties up to $800,000, with a sliding concession between $800,000 and $1,000,000.
In Victoria, a $10,000 First Home Owner Grant applies to new homes valued up to $750,000. A full stamp duty exemption applies on properties up to $600,000, with a sliding scale concession up to $750,000. An off-the-plan concession is also available for eligible strata or community title contracts signed on or before 31 October 2026.
In Queensland, the First Home Owner Grant is $15,000 for new homes valued under $750,000 for contracts signed from 1 July 2026. On established homes, nil transfer duty applies up to $700,000, with a concession up to $800,000. On new builds, a full transfer duty concession applies with no price cap on residential land from 1 May 2025.
In South Australia, a $15,000 First Home Owner Grant applies to new homes with no property price cap for eligible contracts entered into on or after 6 June 2024. A full transfer duty concession applies on new homes and vacant land with no price cap from 1 May 2025. A shared equity option is also available through HomeStart, allowing eligible buyers to purchase with a 5% deposit.
In Western Australia, a $10,000 First Home Owner Grant applies to new homes, with a value cap of $750,000 south of the 26th parallel. The First Home Owner Rate provides a full duty exemption on homes up to $430,000, phasing out to $530,000. For transactions from 21 March 2025, concessions apply up to $700,000 in the Perth Metropolitan and Peel regions.
In Tasmania, the First Home Owner Grant is $20,000 for new homes for eligible transactions from 1 July 2026, subject to assent. Buyers should seek advice from a licensed specialist before acting on this, as the grant remains subject to parliamentary process.
In the Australian Capital Territory, the First Home Owner Grant closed in 2019 and was replaced by the Home Buyer Concession Scheme. From 1 July 2026, eligible buyers are fully exempt from conveyance duty regardless of the value of the property purchased and regardless of household income. The property value limit and income threshold that previously applied have both been removed.
In the Northern Territory, the HomeGrown Territory Grant of $50,000 applies to new homes for contracts signed by 30 September 2027. The Territory Home Owner Discount provides a reduction of up to $18,601 on stamp duty.
Deposit options and loan features worth understanding
For first home buyers who have been saving through superannuation, the First Home Super Saver Scheme allows eligible individuals to withdraw voluntary contributions made to their super fund to put toward a deposit. This can be a useful strategy for those who want to build their deposit in a tax-effective environment, and it is worth discussing with both a financial adviser and your mortgage broker to understand how it fits into your overall plan.
When it comes to low deposit home loan options, a 5% deposit or 10% deposit may be achievable depending on which scheme or lender you work with. A gift deposit from a family member may also be considered by some lenders, though conditions apply and vary by lender. Understanding first home buyer eligibility across different programs is something Zella Money can help you work through clearly and without the confusion.
Once you are looking at loan structures, it is worth understanding the difference between a fixed interest rate and a variable interest rate. A fixed rate locks in your repayments for a set period, which can provide certainty in your first home buyer budget. A variable rate moves with the market and often comes with more flexibility, including access to features like an offset account and redraw. Both have their place, and the right choice depends on your circumstances rather than a one-size-fits-all answer.
Lenders Mortgage Insurance (LMI) is a cost that applies when a borrower has less than a 20% deposit and is not covered by a government guarantee scheme. It protects the lender, not the borrower, and can add a significant amount to the overall cost of a loan. Avoiding LMI through a government scheme, a guarantor loan, or an LMI waiver is something worth exploring early in the process.
Pre-approval and the first home loan application
Getting pre-approval before you start attending open homes is one of the most practical things a first home buyer can do. It gives you a clear picture of your borrowing capacity, helps you bid or make offers with confidence, and signals to vendors and agents that you are a serious buyer. A first home loan application involves a lender assessing your income, expenses, liabilities, and credit history. Zella Money works through this process with you so nothing comes as a surprise.
When you apply for a home loan, the interest rate you are offered will depend on the lender, the loan structure, your deposit size, and a range of other factors. Interest rate discounts are often available, particularly through a broker who has access to a wide panel of lenders. What matters most is not just the rate itself, but how the loan fits your life, your goals, and your budget over the long term.
At Zella Money, we believe first home buyers deserve the same quality of advice and attention as anyone else in the property market. If you are thinking about buying your first home and want to understand your options properly, we would genuinely love to help.
Getting a home loan can feel overwhelming. It doesn't have to be. At Zella Money, we've built a process that keeps you informed, supported, and confident at every step. Here's how we work together.
Let's Have a Chat: Everything starts with a conversation. We take the time to understand where you are right now, where you want to go, and what matters most to you. No pressure, no jargon. Just an honest discussion about your situation and your goals.
We Dig Into the Detail: Once we know what you're working towards, we take a closer look at your finances. Income, expenses, savings, existing debts. We look at the full picture so we can give you advice that's actually relevant to your life, not just a generic answer.
We Research the Market: With a clear picture of your situation, we search across a wide panel of lenders to find options that genuinely suit you. We're not tied to one bank or one product. Our job is to find the right fit, not the easiest one.
We Walk You Through Your Options: We present a shortlist of suitable loan options and explain each one in plain language. Rates, fees, features, flexibility. We cover it all so you can make a decision you feel good about. No hard sell, ever.
We Handle the Application: Once you've chosen the loan that works for you, we take care of the paperwork. We prepare and lodge your application, liaise with the lender, and keep things moving. You don't need to chase anyone.
We Keep You in the Loop: From application through to approval, we stay in regular contact. You'll always know where things stand. If the lender needs anything extra, we handle it quickly and let you know what's happening and why.
Settlement and Beyond: Approved and settled? We're still here. We check in after settlement to make sure everything's running smoothly, and we stay available as your circumstances change. One loan is just the beginning.
Ready to talk to the team? We're excited to meet you! Shoot though an enquiry and we'll get back to you ASAP!
Get in touch
Jasmin Valentine
The Zella team (Georgia, Maddie and Sal) were exceptional to work with. They took the time to understand my needs, provided a range of product options to consider, delivered on timeframes, kept me informed of the progress of my application and made themselves available to respond to all questions I had. I could not of asked for a better experience and look forward to working with them again.
Paula
I purchased my first home with the assistance of Zella. The whole process was made so easy and efficient with a very quick turnaround between my initial meeting, pre-approval, auction purchase and subsequent settlement. Tara, Maddie and Sal were all a pleasure to work with. Will be my first call when the time comes for a new mortgage!
Rowan Arblaster
We used Jaclyn the Senior Finance Broker to buy our first home and she was amazing! She is so knowledgeable, made us feel valued and turned our dream into a reality. Can not recommend her enough! Shout out to Sal as well the Settlements Manager who helped make settlement nice and simple.
Chris Fallon
I cannot recommend Zella highly enough! Charlotte and the wider Zella team were with us every step of the way! They truly had our backs in securing the best home loan for our family. Prompt, informative and easy to deal with! Thank you so much for all your hard work!! xx
Olivia Jolliffe
I had a great experience with Zella from start to finish. The team was friendly and made our refinance super easy. Highly recommend!
Casey Sharrock
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Let's chat
For most standard lending appointments, no. We're paid by the lender once your loan settles. In rare cases where applications are highly complex, a fee may apply, but we'll always discuss and disclose this with you upfront.
Yes. We use bank-grade security systems and are fully compliant with Australian privacy regulations. Your information is treated with the highest level of care and confidentiality.
Absolutely. We assist clients across Australia and have a thorough understanding of different state and territory regulations, grants and incentives.
We keep communication clear and simple. Your broker will be available via email and phone, and we manage documentation securely through our electronic portal. Your initial meeting can be held over the phone or by video call, depending on your preference. We're always just a message away if you need support.
To get started, we'll need documents such as identification, proof of income (like payslips or tax returns), details of your assets and liabilities, and statements for any existing loans or credit facilities. Your broker will give you a personalised checklist so you always know what's needed.
Your borrowing capacity depends on factors like your income, expenses, existing debts, credit history and the policies of individual lenders. We'll work with you to assess your position and give you a clear understanding of what's achievable.
Yes. Our brokers stay across all available incentives, including first home buyer grants, stamp duty concessions and guarantee schemes. If you're eligible, we'll help you understand how to apply and make the most of these opportunities.
Absolutely. We specialise in guiding first-home buyers through the process with tailored advice, clear communication and plenty of support along the way.
Banks offer their own products. We offer you options. As your broker, we take the time to understand your goals and financial circumstances before searching across a broad panel of lenders to find solutions that genuinely suit you. We also stay across the latest policies, grants and niche lender options that could make a real difference to your outcome.
We conduct a credit check early in the process to help us best assist you. Your score is safe with us. If you have any concerns about your credit history, please speak with your broker — we're here to support you.
Pre-approvals generally last between three and six months, depending on the lender. We'll guide you through the timeline and help you refresh your approval if your property search takes a little longer than expected.
Once your loan is formally approved, we'll guide you through the settlement process. We work closely with your solicitor or conveyancer to ensure all requirements are met and everything runs smoothly right through to settlement day.
Definitely. We understand the nuances of self-employed income and have extensive experience presenting applications for business owners in a way that resonates with lenders.
No. In addition to home loans, we also assist with commercial lending, investment loans, refinancing and asset finance. Whatever your finance goals, we're ready to support you.
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