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First Home Buyer?
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Buying your first home in Sydney is complex, government grants, stamp duty exemptions, LMI waivers, the First Home Guarantee, lender policies on HECS debt and genuine savings. We navigate all of it for you.

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$10K
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Lend & Loan is one of Sydney's top-rated mortgage brokers for first home buyers, with 80 five-star Google reviews. We help you access the First Home Guarantee (5% deposit, no LMI), NSW First Home Owner Grant ($10,000), and stamp duty exemptions across 300+ Sydney suburbs.

Last updated: July 2026 · Reviewed by John Pierre Saliba, Director and Mortgage Broker, MFAA Accredited

Government Schemes for First Home Buyers in NSW

NSW has some of the most generous first home buyer incentives in Australia. Here's what you may be eligible for:

🏠 First Home Owner Grant (FHOG), $10,000

Available for new builds or substantially renovated homes valued up to $750,000. You must be an Australian citizen or permanent resident, at least 18 years old, and not have previously owned property in Australia.

📋 Stamp Duty Exemptions & Concessions

Full stamp duty exemption on existing homes up to $800,000. Concessions available between $800,000 and $1,000,000. On a $750,000 purchase, that's a saving of approximately $29,000.

🛡️ First Home Guarantee (FHBG)

Buy with just 5% deposit and no LMI. The Commonwealth Government guarantees the gap between your deposit and 20%. Income cap of $125,000 (single) or $200,000 (couple). Property price caps apply by region.

🏡 Family Home Guarantee

For single parents or single legal guardians of at least one dependent. Buy with as little as 2% deposit and no LMI. Available for both first home buyers and previous homeowners.

Common First Home Buyer Questions

Does HECS debt affect my borrowing capacity?

Yes, lenders factor your HECS repayment obligation into their serviceability assessment. The higher your HECS balance, the more it reduces your borrowing power. However, some lenders are more generous than others in how they calculate this. We know which lenders give the best outcome for borrowers with HECS debt.

Do I need genuine savings?

Most lenders require at least 5% of the purchase price to come from genuine savings (money you've saved over at least 3 months). However, some lenders accept gifts from parents, bonuses, tax refunds, or share sales. We'll match you with the right lender based on your deposit source.

Can I use my parents as guarantors?

Yes, a family guarantee (or "guarantor loan") allows your parents to use their property equity as additional security. This can mean zero deposit required and no LMI. See our Guarantor Loans page for full details.

How much can I borrow as a first home buyer?

This depends on your income, expenses, existing debts (including HECS), deposit size, and the lender. Use our Borrowing Power Calculator for an estimate, or book a free consultation for a personalised assessment.

Ready to Buy Your First Home?

Free consultation. We'll check your eligibility for all grants and schemes, then find the best loan from 50+ lenders.

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