First Home Buyers · May 2026 · 7 min read
Cutting through the noise on the First Home Guarantee, state-based grants, stamp duty concessions, and how eligible buyers can stack them on a new build.
For most Australians trying to buy their first home, one of the biggest frustrations is simply understanding what help is available.
Almost everyone has heard about “the first home buyer grant,” but very few people realise there are actually multiple first home buyer schemes in Australia, all with different rules, property limits, and eligibility requirements.
Between the First Home Owner Grant, the First Home Guarantee Scheme, stamp duty concessions, and state-based incentives, it can quickly become confusing.
At Vairo Group, we spend a lot of time helping first home buyers understand what they may qualify for before they commit to a property, builder, or contract. Because when these grants and schemes are structured correctly, they can potentially save buyers thousands in upfront costs. Speak with a Vairo broker before you sign anything.
One of the most searched questions in Australia right now is: “Can I buy a house with a 5% deposit?”
For eligible buyers, the answer is potentially yes.
The Australian Government’s First Home Guarantee Scheme allows eligible first home buyers to purchase a property with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).
That matters because LMI can sometimes add thousands, or even tens of thousands, to the cost of buying a property. For many young Australians, avoiding LMI can mean entering the property market much sooner than expected.
The scheme is designed to help eligible buyers:
However, income caps, property price thresholds, and limited places apply each financial year.
Alongside the federal guarantee scheme, each Australian state and territory offers its own first home buyer incentives.
Depending on where you purchase, you may be eligible for:
In Victoria, for example, eligible first home buyers purchasing a new home may be able to combine:
When layered together properly, these incentives can significantly reduce the upfront cost of buying your first property. Use our borrowing power calculator and repayment calculator to model what that could look like for your purchase.
One thing many buyers don’t realise is that most first home buyer grants in Australia are now heavily focused on:
That means the property you choose can directly impact what grants or concessions you qualify for. In some cases, buyers can save substantially more by purchasing an eligible new build compared to an established property.
But this is where strategy becomes important. The timing of the contract, the lender chosen, the property structure, and the build stage can all affect eligibility for government incentives.
One of the most common mistakes we see is buyers finding a property first and trying to organise the finance afterwards.
The problem is that certain contracts, builders, or property types can unintentionally reduce access to grants, concessions, or even borrowing capacity. That’s why understanding your position early matters.
A good mortgage broker should help you understand:
At Vairo Group, we focus on helping buyers build the strategy before they sign the contract, not after. See how we work with first home buyers.
In many situations, yes.
Eligible buyers may be able to combine:
within the same purchase.
But eligibility depends on several factors, including:
This is why getting advice before committing to a property can make a major financial difference.
Buying your first home in Australia is already a massive financial decision, and the amount of information online can feel overwhelming.
The good news is there are still strong first home buyer incentives available for eligible Australians, especially for buyers who plan early and structure things correctly.
Understanding your borrowing capacity, deposit options, government grants, and loan strategy before signing a contract can potentially save you thousands and help you enter the property market with far more confidence. Try our suite of calculators to model the numbers, then book a chat with a Vairo broker.
If you’re unsure what first home buyer grants or schemes you may qualify for, speaking with a mortgage broker early can help you avoid costly mistakes and make more informed decisions from the beginning.
The information in this article is general in nature and does not take into account your personal circumstances. Speak with a qualified mortgage broker before making lending decisions.
