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First Home Buyer?
We'll Get You In.

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.

✓ 50+ Lenders ✓ $10K FHOG Eligible ✓ 5% Deposit Options ✓ Free Service

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$10K

FHOG (New Build)

Minimum Deposit

Stamp Duty (under $800K)

Free

Our Broker Fee

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: October 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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Is Refinancing Worth It for You?

It comes down to three numbers: your balance, the rate gap, and the switching costs. Most Sydney refinances with a meaningful rate cut recover their costs within three to nine months. John runs the break-even maths for free before you commit to anything.

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FAQs

First Home Buyer Loans, Common Questions

What is the minimum deposit for a first home buyer in NSW?

Most lenders accept a 5 percent deposit, either with LMI or without LMI under the First Home Guarantee if you meet the income and property price caps. Eligible single parents can buy with as little as 2 percent under the Family Home Guarantee. Lending criteria apply and every lender treats small deposits differently, so the right lender choice matters.

Do first home buyers pay stamp duty in NSW?

Often no. Under the First Home Buyers Assistance Scheme you pay zero stamp duty on existing homes up to $800,000, with a concessional rate between $800,000 and $1,000,000. Above that, full duty applies. You generally need to move in within 12 months and live there for a continuous period, and eligibility conditions apply.

How long does first home buyer loan approval take?

Pre-approval typically takes 1 to 3 business days once your documents are in, and formal approval usually follows within 1 to 2 weeks of signing a contract, depending on the lender. Timeframes vary with lender workloads and application complexity, so we build buffer around your settlement date and manage the lender for you.

Does using a mortgage broker cost a first home buyer anything?

No. Our service is free to you; we are paid a commission by the lender when your loan settles, and under the Best Interests Duty we must recommend the loan that is best for you. We also check your eligibility for the grant, stamp duty exemption and guarantee schemes at the same time, at no charge.

When should a first home buyer think about refinancing?

Review your loan around the two-year mark, or sooner if rates move. First loans are often set-and-forget, which is exactly how the loyalty tax starts. If your property has grown in value, your lower LVR may qualify you for a cheaper pricing tier even with the same lender.

Should I refinance my home loan in 2026?

If you have not reviewed your rate in the past two years, it is worth checking. Lenders reserve their sharpest rates for new customers, so long-term borrowers often pay a loyalty premium. John compares 50+ lenders for free and tells you honestly whether switching beats staying, subject to lender assessment.

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First Home Buyer?We'll Get You In.