Your first home is closer than you think
Buying your first home is exciting — and, let’s be honest, a little overwhelming.
I’ll help you cut through the grants, schemes and loan options and build a clear plan to get you there.
With rising prices, ever-changing government initiatives and hundreds of loan options, it’s easy to wonder where to even begin — or whether buying is possible at all. The good news: you don’t have to work it out alone.
I’m Celeste Chung, Principal Mortgage Broker at Pair Finance. From our first conversation through to settlement, you’ll work directly with me — someone who takes the time to understand your situation and builds a strategy around your goals.
Whether you’re ready to buy now or just starting to save, I’ll help you understand what you can borrow, compare your options and work out which government schemes could get you into your home sooner.
How I Help First Home Buyers
Plenty of questions? That’s completely normal — my job is to make the whole thing simple so you can move forward with confidence.
With me, you’ll get:
Personalised home loan advice based on your goals
Help accessing first home buyer grants and schemes
Access to a wide panel of banks (not just the big banks)
Support with paperwork, pre-approval and everything in between
Whether you’re just getting started or ready to make an offer, I’m here to help you move forward with confidence.
First Home Buyer Support Available
There are several government schemes that could help you buy sooner or cut your upfront costs.
Depending on your situation, you may be able to tap into:
Buy with as little as a 5% deposit (2% for eligible single parents) and skip Lenders Mortgage Insurance.
The government chips in up to 30–40% of the price, so you borrow less and can start with a 2% deposit.
A state government grant for eligible buyers building or buying a brand-new home.
Save your deposit faster through voluntary super contributions you can later withdraw.
Stamp duty exemptions or concessions that can cut your upfront costs, depending on where you buy.
Options like a gifted deposit or family guarantee to help fund your purchase.
Even if you don’t have a deposit yet, don’t wait until you’ve saved ‘enough’ to get in touch. The earlier we start, the more we can do — building a savings plan, strengthening your borrowing position and getting you ready to buy when the time is right.
Buying your first home isn’t just about the right loan; it’s about the right plan and the right person in your corner. That’s what I’m here for.
Government Schemes for First Home Buyers
Australian Government 5% Deposit Scheme
The Australian Government 5% Deposit Scheme is designed to help eligible first home buyers purchase a home with a smaller deposit and without paying Lenders Mortgage Insurance.
Under the scheme, eligible first home buyers may be able to purchase with a minimum 5% deposit. Eligible single parents or single legal guardians may be able to purchase with a minimum 2% deposit.
This can make a significant difference because many banks normally require a 20% deposit to avoid Lenders Mortgage Insurance (LMI).
What is Lender’s Mortgage Insurance (LMI)?
It is a fee charged when your deposit is less than 20%. It protects the bank (not you) if you default on your loan
Key benefits may include:
Buy with a smaller deposit
Avoid paying Lenders Mortgage Insurance (LMI)
Purchase a new or existing home, townhouse, apartment, house and land package, off-the-plan property or vacant land with a building contract
Use the scheme through participating banks
Access support subject to eligibility and property price caps
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You may qualify if you:
Are an Australian citizen or Permanent Resident
Are over 18
Are a first home buyer (or haven’t owned a property in the last 10 years)
Plan to live in the property as your main residence
Move in within 12 months and stay for at least 12 months
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When applying through a participating bank, you’ll typically need:
Photo ID such as Driver’s Licence and Passport
Evidence of citizenship or residency
Medicare card
A completed and signed Home Buyer Declaration
Income and financial documents
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If your home loan is supported by the Scheme, the guarantee stays in place until the life of the loan (up to 30 years). Unless one of these happens:
You no longer live in the property (without an approved exemption)
You rent out the home
You refinance with a bank outside the Scheme
Your loan balance drops below 80% of the property’s value
You borrow extra money against the property
You sell the home
If coverage ends because of the above-mentioned circumstances and your LVR is still above 80%, your bank may charge LMI or extra costs.
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Yes — you can refinance with another Participating Bankand keep your Scheme benefit, but only if you don’t:
Increase the loan amount
Extend the term
Make other changes that affect eligibility
Refinancing with a non-participating bank means you’ll lose the guarantee.
Property Price Caps
To qualify for the government’s first home buyer schemes, the property you’re buying must fall under set price limits. These vary by state and whether you’re buying in a capital city, a major regional centre, or elsewhere in the state.
For example, in New South Wales, the cap is $1,500,000 in Sydney and regional centres such as Newcastle, Lake Macquarie, and Illawarra, while in the rest of the state it’s $800,000.
I can help you apply through a participating bank and handle the application process and all the paperwork for you.
Australian Government Help to Buy Scheme
The Help to Buy Scheme is a shared equity initiative designed to help eligible Australians buy a home with a smaller deposit and a smaller home loan.
Under this scheme, the government may contribute part of the purchase price. This can reduce the amount you need to borrow from a lender.
Depending on eligibility and the property type, the government may contribute:
Up to 30% of the purchase price for an existing home
Up to 40% of the purchase price for a new home
Eligible buyers may be able to purchase with a minimum 2% deposit.
It is important to understand that Help to Buy is not free money. The government will hold a share in the property and may share in future changes in the property’s value.
This scheme may suit buyers who have some savings but need extra support to enter the property market.
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You may be eligible if you:
Are at least 18 and an Australian citizen
Earn $103,000 or less a year (individuals), or $165,000 or less (single parents and joint applicants)
Don’t own any other property in Australia or overseas
Will live in the home as your principal place of residence (not as a rental or investment)
Have a deposit of at least 2% of the purchase price
Property Price Caps
To qualify for the government’s Help to Buy scheme, the property you’re buying must fall under set price limits. These vary by state and whether you’re buying in a capital city, a major regional centre, or elsewhere in the state.
For example, in New South Wales, the cap is $1,300,000 in Sydney and regional centres such as Newcastle, Lake Macquarie, and Illawarra, while in the rest of the state it’s $800,000.
I can help you apply through a participating bank and handle the application process and all the paperwork for you.
First Home Super Saver Scheme
The First Home Super Saver Scheme allows eligible first home buyers to save for a home deposit through voluntary superannuation contributions.
This may help some buyers build their deposit faster, depending on their income, tax position and savings strategy.
Under the scheme, eligible buyers may be able to:
Make voluntary contributions into super
Apply to release eligible contributions and associated earnings
Use the released amount towards their first home deposit
The official First Home Buyers website states that eligible buyers can contribute up to $15,000 per year and $50,000 in total under the First Home Super Saver Scheme.
Couples, friends or siblings may each be able to access their own eligible FHSS savings when buying the same property.
There are important timing rules, so it is essential to understand the process before signing a contract or relying on these funds for your deposit.
Key considerations:
You must enter a contract to purchase or build residential premises within 12 months of release (extensions may be possible).
You must notify the ATO within a set timeframe after entering the contract—typically 90 days.
If you don’t proceed, you can either recontribute the amount, request an extension, or face tax consequences including FHSS tax.
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You may be eligible if you:
Are 18 or older
Have never owned property in Australia (unless you meet the financial hardship criteria)
Intend to live in the home for at least six months within the first 12 months of ownership
Purchase a property or enter into a contract to build a home on vacant land in Australia within 12 months of applying for a request for release
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Contribute first. Make sure your super fund supports FHSS.
Request an FHSS determination through myGov (ATO > Super > Manage > First home saver).
Request release.
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It typically takes 15–20 business days for processing.
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Yes—if you applied but didn’t release funds before the specified date, and now meet the criteria, you may now be eligible to reapply.
I can help you consider how the First Home Super Saver Scheme may fit into your broader deposit and home loan strategy. You should also get tax or financial advice if needed.
First Home Owner Grant
The First Home Owner Grant is a state or territory government grant that may be available to eligible first home buyers purchasing or building a new home.
The grant amount, property value limits and eligibility rules vary depending on where you buy.
In New South Wales, the First Home Owner Grant may provide $10,000 for eligible buyers purchasing or building a new home that meets the relevant property value limits.
Generally, this grant does not apply to established homes.
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You may qualify if you:
Are buying a new home worth up to $600,000, or land + build worth up to $750,000
Are over 18 and buying as an individual
Are a first home buyer and an Australian citizen or permanent resident
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Nope! The $10,000 grant is completely tax-free.
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No. That means your income or savings don’t matter. You can still get the grant as long as you meet the requirements.
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Yes! The FHOG can be used together with other government help, like the stamp duty exemption or concession for first home buyers. That means you could save on upfront costs and get the grant at the same time
I can help you understand whether the First Home Owner Grant may apply to your situation and how it could form part of your deposit and purchase strategy.
First Home Buyer Assistance Scheme
Stamp duty can be one of the largest upfront costs when buying a property.
Depending on where you buy, the purchase price and your eligibility, you may qualify for a full exemption or a reduced rate of stamp duty.
In New South Wales, eligible first home buyers may receive a full transfer duty exemption for certain new homes, existing homes or vacant land up to the relevant thresholds. Some purchases above the exemption threshold may qualify for a concessional rate.
Revenue NSW states that, for eligible first home buyers:
New homes may be exempt up to $800,000
Existing homes may be exempt up to $650,000
Vacant land may be exempt up to $400,000
Concessional rates may apply above these thresholds and below the relevant upper limits
Because stamp duty rules vary between states and territories, I can help you understand what may apply to your purchase.
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You may be eligible if you:
Are over 18
Are buying as an individual (not a trust or company)
Have never owned residential property in Australia
Must have never received an exemption or concession under the scheme previously
Are an Australian citizen or permanent resident (at least one applicant if a couple)
Plan to move in within 12 months and live there for at least 12 months
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You could lose eligibility and may need to pay back stamp duty savings. Always let your bank/broker know before making changes.
I can help you understand whether the First Home Buyer Assistance Scheme may apply to your situation and how it could form part of your purchase strategy.
Other Ways to Buy Your First Home
Not eligible for the Government’s new 5% deposit scheme? You still have options.
Some first home buyers get help from family in the form of a gifted deposit. This is money given (not loaned) by a parent or relative to boost your savings. Banks usually need a signed letter confirming the funds are a gift with no expectation of repayment.
Gifted Deposit
Family Guarantee (Guarantor Loan)
A parent or close family member can use the equity in their home to guarantee part of your loan. This can:
Reduce or remove the need for Lender’s Mortgage Insurance (LMI)
Help you buy with a smaller deposit
Increase your borrowing power
The guarantor is only responsible for the guaranteed portion, not the entire loan.
Paying Lender’s Mortgage Insurance (LMI)
If you don’t have a 20% deposit, no gift, and no guarantor, you can still buy — but you’ll need to pay Lender’s Mortgage Insurance (LMI).
Example: On a $900,000 home, a 10% deposit means $90,000 upfront. You’ll need LMI, but it gets you into the market sooner rather than waiting years to save the full 20%.
While it’s an extra cost, LMI can help you get into the property market sooner rather than waiting years to save a full 20% deposit.
First Home Buyers’ FAQs
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That depends on your income, expenses, debts, and deposit. We’ll calculate this for you. and show you your options, so you have a clear idea of what’s possible.
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This depends on the lender, property price, loan type and whether you qualify for any government schemes.
Some buyers may need a 20% deposit to avoid Lenders Mortgage Insurance. Others may be able to buy with a smaller deposit through a government scheme, family guarantee or by paying Lenders Mortgage Insurance.
We can help you work out what deposit you may need based on your situation.
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Some eligible first home buyers may be able to buy with a 5% deposit under the Australian Government 5% Deposit Scheme.
However, eligibility rules, property price caps and lender requirements apply.
We can help you check whether this may be available to you.
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Eligible single parents or single legal guardians may be able to purchase with a minimum 2% deposit under the Australian Government 5% Deposit Scheme.
This depends on eligibility, lender requirements and property price caps.
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Yes, some first home buyers purchase with a partner.
This may improve borrowing capacity and help with the deposit, but it is important to understand how ownership, repayments and future decisions will work.
We can help you structure the loan and explain the lender requirements.
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Yes, getting pre-approval can be a smart step before making an offer or bidding at auction.
Pre-approval helps you understand your budget and gives you more confidence when looking at properties.
It is not a final loan approval, but it can help you move forward with more clarity.
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Yes, or might not. NSW offers full or partial exemptions for first home buyers.
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You may need to pay Lenders Mortgage Insurance if you borrow more than 80% of the property value.
However, some eligible buyers may be able to avoid Lenders Mortgage Insurance through the Australian Government 5% Deposit Scheme or a family guarantee.
We can help you compare your options.
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There is no single best lender for every first home buyer.
The right lender depends on your income, deposit, employment type, credit history, property type, preferred features and whether you are applying under a government scheme.
Pair Finance compares a wide range of lenders to help find a suitable option for your needs.
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You may be able to access eligible voluntary super contributions through the First Home Super Saver Scheme.
This does not mean you can simply withdraw your normal super balance. The scheme applies to eligible voluntary contributions and has specific rules and limits.
It is important to understand the process before relying on these funds for your deposit.
Ready to See What You Qualify For?
Every buyer’s situation is different. The right scheme, bank, and structure will depend on your income, savings, and goals. Your first home doesn’t need to feel out of reach — you just need the right strategy.
I help you:
Work out which schemes you’re eligible for
Structure your loan correctly from the start
Apply through participating banks
Move from pre-approval to settlement smoothly
You don’t need to figure it all out on your own — that’s what I’m here for.