Buying your first home is one of the biggest decisions you'll ever make — and on the Tweed Coast, Northern NSW, it's also one of the most competitive markets in the country. The good news: there's more help available to first home buyers than most people realise. The bad news: the process is complicated enough that many buyers leave thousands of dollars on the table.
What grants and schemes are available in NSW?
First Home Owner Grant (FHOG)
In NSW, first home buyers purchasing a newly built home valued under $600,000 (or land + build under $750,000) may receive a $10,000 grant. This is not means-tested — it's based on the property and purchase type.
First Home Buyer Assistance (Stamp Duty)
This is often more valuable than the FHOG. If you're purchasing an existing or new home under $800,000, you may receive a full transfer duty (stamp duty) exemption. Between $800,000 and $1,000,000, a partial concession applies on a sliding scale. On a $750,000 purchase, this saves you approximately $28,000. That's real money.
First Home Guarantee (Federal scheme)
This federal scheme allows eligible buyers to purchase with just 5% deposit without paying Lenders Mortgage Insurance (LMI). There are limited places each year — early application is essential. I can help you apply as part of your pre-approval process.
What deposit do I actually need?
Most lenders require a minimum of 5–10% deposit for a standard loan. With 5% via the First Home Guarantee, you avoid LMI. With 8–19%, you'll generally pay LMI (which can be added to the loan). With 20%+, there's no LMI and you'll generally access better rates. Don't wait until you have 20% if it means missing the market. A conversation with me helps you understand what you can actually do now.
How much can I borrow?
As a rough guide, most lenders will lend approximately 5–6× your gross annual income, subject to expenses, existing debts, and the specific lender's criteria. Use the borrowing power calculator on our calculators page to get an estimate — then book a call for the real number based on your actual situation.
What does the process look like?
Pre-approval — I assess your borrowing capacity and get conditional approval from a lender. This usually takes 3–5 business days.
House hunting — with pre-approval in hand, you can make offers with confidence and move quickly.
Formal approval — once you've found a property and signed contracts, I submit the full application. Takes 3–7 days.
Settlement — typically 4–6 weeks after contracts exchange.
Ready to take the next step?
Book a free call and I'll give you an honest picture of where you stand and what's possible. No obligation, no jargon — just a real conversation about your situation and your options.