What’s different about buying your first home?

Buying your first home is a big deal, however, it is actually made a little easier through various government incentives, such as the First Home Owner Grant (FHOG) and the First Home Loan Deposit Scheme (FHLDS). It’s important to know what you’re eligible for, so you can make the most of the opportunity.

What is the First Home Owner Grant?

If you’re buying your home for the first time, a First Home Owner Grant can make it a bit easier. The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It’s a way to get a financial boost towards owning your own home.

What are the first home owner benefits?

In a nutshell, the government gives you some money to go towards your first home. This essentially increases your deposit, which may help your eligibility for your first home buyer loan. The grant is usually paid directly to your lender to reduce the deposit required, and is paid at settlement if you’re buying or at first drawdown if you’re building.

How does the First Home Owner Grant work?

It’s a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first time home buyers that satisfy all the eligibility criteria.

To find out about First Home Owner Grant, visit the First Home Owner Grant website.

What is the First Home Loan Deposit Scheme?

Usually first home buyers with less than a 20% deposit need to pay lenders mortgage insurance. The First Home Loan Deposit Scheme (FHLDS) is an Australian government initiative to support eligible first home buyers to build or purchase a new home sooner by guaranteeing a portion of the loan (meaning the first home buyer won’t have to pay LMI).

Under the scheme, eligible first home buyers can purchase or build a new home with a deposit of as little as 5% with the government guaranteeing up to 15% of the value of the property purchased. Just remember, eligibility and lenders criteria apply.

To find out more information about FHLDS and eligibility requirement, visit the NHFIC's First Home Loan Deposit Scheme page.

Stamp duty

Stamp duty is a tax you pay to the government when you purchase a property. It varies depending on which state you’re buying in, and the purchase price of your property.

However as a first home buyer, special rules may apply. A stamp duty concession or stamp duty exemption applies in many states. This includes stamp duty on land and off the plan stamp duty.

First time home buyer?

Here are some helpful blogs, links and tools.


Helpful links & tools

How much can I borrow?

Calculate how much you may be able to borrow based on your income and expenses.

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Repayment calculator

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Compare our home loans

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Rates & fees

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    What you need to know

    FAQs

    Still have some questions? Let’s see if we can answer them for you now.

    • What is a first home buyer?

      To be considered a first home buyer you must be buying your first home. This includes any co-owners (so if your partner has already purchased a home and you’re buying your new home together, you technically don’t qualify as a first home buyer).

    • How do I apply for a home loan as a first time buyer?

      As a first time buyer, you can apply for a loan just like any other buyer. However if you’re interested in receiving First Home Loan Deposit Scheme, you’ll have to apply for this scheme through an approved lender. You can apply for a First Home Owner Grant separately.

    • How much stamp duty will I pay as a first home buyer?

      As a first home buyer, a stamp duty concession or stamp duty exemption applies in many states, meaning you may not have to pay any stamp duty.

    • What are first time home buyer's benefits?

      First home buyers may be able to access the First Home Owner Grant or the First Home Loan Deposit Scheme, helping you own your own home sooner. Stamp duty concessions or exemptions also apply in many states.

    • How do I qualify as a first time home buyer?

      To be considered a first home buyer for the First Home Owner Grant or First Home Loan Deposit Scheme, you must typically:

      • Be purchasing the first home you or your spouse have owned or co-owned in Australia
      • Move into the property within 12 months, and live there for at least six continuous months
      • Be an Australian citizen or a permanent resident of Australia
      • Be at least 18 years old.

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