First Home Buyers Loans

Because buying your first home should be exciting

Where do you start?

Buying your first home can be a confusing process and likely to be one of your biggest financial investments. So where do you start?

Understanding the lending process

Most first home buyers will make a visit to the bank to understand what they can borrow, but did you know that 68% of all loans are completed by leveraging a mortgage broker saving you time, money and stress.
  1. Determine your borrowing power
    We help you determine your borrowing capacity so you know what you can afford
  2. Compare finance products
    We have access to multiple lenders, to find the best possible options for you to choose from. We’ll compare all available products and explain the differences and benefits
  3. Loan application process
    Once you’ve picked the right finance option for you, we will then assist you with your loan application process. We know what it takes to submit a successful loan application
  4. Pre-Approval and house hunting
    Once you receive the necessary pre-approval you can go house hunting and bid or buy with confidence. We’ll be there to answer your questions along the way
  5. Making an offer
    You’ve found the house you love and you’re ready to make an offer. Your mortgage broker will submit a formal loan approval and in most instances, the lenders will have 14 days to review and have it formally approved. We’re also here to help with other services like insurance.
  6. You get the keys
    Settlement day – You’re officially a homeowner!

Access to 30+ lenders

We provide high quality advice and offer access to loans from a wide range of lenders. We compare 30+ lenders to find the great rates that are most suitable for you.

Calculators

Our calculators help you work out how much you can borrow, as well as what your likely repayments will be.

Borrowing Power Calculator
Discover how much you can afford to borrow with our simple, effective borrowing power calculator.
How much can I borrow?
Stamp Duty Calculator
Stamp duty can be the biggest upfront cost when it comes to buying property. Understand how much you will need to pay so you avoid nasty surprises and make the right decision.
Calculate my stampduty
Mortgage Repayment Calculator
Learn how much your ongoing home loan repayments will be based on the amount you’re borrowing and your interest rate.
Calculate my repayments

We find the right solution for your financial needs

Our qualified mortgage brokers will navigate you through today’s changing landscape and recommend a competitive financial solution to best suit your individual needs.
We’re here for you
No hidden fees. We work for you, not the lender.
Make the best choice
We do the leg work to find the best possible options for you to choose from.
Expert Support
Our Mortgage Brokers will discuss your financial goals and provide expert advice to help you make informed decisions.
Convenience
Our online platform means you can access and approve your loan documents anywhere, anytime.

Speak to a mortgage broker

Talk to one of our available mortgage brokers or book a time that suits you. We offer virtual, phone and in person appointments.

Get started now

Looking for answers? We’ve got one for you

How do I apply for a first home buyer loan?

First home buyers in Australia can access a first home buyer grant from many different lenders. You can walk into just about any bank and find one, but all their loan terms, lengths, criteria, extra options and repayment rates are different, and it can be difficult to decide which one is right for you.

Sometimes a lot of choice is more of a headache than a help. But it doesn’t have to be: Coronis can connect you to a specialist first home buyer mortgage broker skilled in property finance as well as taking the stress out of buying your first home. Australian buyers can access any number of first home buyer loans, but when you’re with Coronis, your personal broker will negotiate with lenders on your behalf to find you the right loan rate and terms to match your personal circumstances, and help you to secure the pre-approval and finance you need to buy your dream home.

How can a mortgage broker assist a first home buyer in Australia?

If you’re a first-time home buyer in Australia you’re probably already overwhelmed with all the different home loan options out there, and too time-poor to figure out which one is the right one for you. That’s what mortgage buyers are for: Coronis mortgage brokers can offer free, impartial and professional advice on the various home loan products available to you, and help you to select the right loan and terms for your financial position and aspirations. They can help you to access the first home owner grant, manage your application, decipher the fine print, and liaise with lenders to save you the stress and paperwork.

Your personal mortgage broker is also your advocate. Unlike banks, mortgage brokers are governed by ‘Best Interests Duty’ legislation, meaning they are obliged to support your best interests, and there aren’t any ulterior motives to worry about.

How much is the first home owners grant in Australia?

The first home owner grant is a one-off cash payment from the Government that you can use to pay part of the cost of a new home. It’s for people who are building their first home or buying a brand new home that has never been lived in, and includes houses, units, apartments or townhouses. If you’re building, you may also be eligible for the $25,000 Home Builders Grant.

Thanks to government efforts to accelerate home ownership and boost the homebuilding industry, each state and territory in Australia provides some sort of financial assistance to first home buyers, although the eligibility criteria and amounts vary depending on where you live. You can access more information on grants by each state by visiting http://www.firsthome.gov.au

 

Queensland
The Queensland First Home Owner’s Grant of $20,000 is available to people buying or building a new home up to the value of $750,000, but you must live in the home continuously for at least six months. First home buyers can also claim a first home exemption on transfer duty for homes valued at less than $550,000, and land valued at less than $400,000; however, the government also offers a duty concession for homes valued over this amount, which you can view at https://www.qld.gov.au/housing/buying-owning-home/first-home-concession

 

New South Wales
The First Home Owner Grant (New Homes) scheme provides $10,000 to eligible first home buyers to help buy a new home valued under $650,000; when you enter into a contract to build a property, or are an owner builder, the total value cannot exceed $750,000. At least one of the homeowners will need to live in the property continuously for at least six months.
Through the First Home Buyers Assistance (FHBA) scheme, first home buyers are exempt from stamp duty (also known as transfer duty) on new homes up to $650,000, and on vacant land up to $350,000. They will receive stamp duty concessions on new homes valued between $650,000 and $800,000, and on vacant land valued between $350,000 and $450,000. Shared equity arrangements under the scheme also allow eligible purchasers to buy property with other parties and still receive a concession.
http://www.revenue.nsw.gov.au/grants/fhog
http://www.revenue.nsw.gov.au/grants/fhba

 

Victoria
The Victorian first home owners grant of $10,000 is available to first home buyers for new homes valued up to $750,000, where one applicant is to live in the property continuously for a minimum of 12 months. For new homes built in regional Victoria and valued up to $750,000, the grant is $20,000.
The grant doesn’t apply to established properties. However, whether the home is new or established, first home buyers can apply for the first home buyer duty exemption when they buy a property valued up to $600,000. A duty concession applies when the value is more than $600,000 but not more than $750,000. If eligible, some first home buyers may also receive a principal place of residence (PPR) duty concession for homes valued at $550,000 or less.
https://www.sro.vic.gov.au/firsthomeowner
https://www.sro.vic.gov.au/pprconcessions

 

South Australia
The South Australian first home owner grant of up to $15,000 is available to people buying or building new homes up to $575,000, where all applicants must live in the home continuously for at least six months.
https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners
https://www.revenuesa.sa.gov.au/grants-and-concessions/off-the-plan-concession

 

Australian Capital Territory
The ACT first home owners grant is currently $7,000 for purchasers of new or substantially renovated properties up to the value of $750,000, where at least one of the homeowners lives in the property for at least one year. The ACT Government also offers a home buyer concession scheme and options for deferred duty, which applies to new homes and includes a property ownership test and thresholds on both the property value and the home buyer’s income. These conditions change frequently, so check the ACT Revenue Office website for the latest information.
http://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant
https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme
https://www.revenue.act.gov.au/home-buyer-assistance/deferred-duty

 

Northern Territory
The Northern Territory’s first home owner grant of up to $26,000 is available to first home buyers and builders of new properties, where at least one applicant will live in the home continuously for a minimum of six months. First home buyers of established properties may be entitled to the First Home Owners Discount scheme, which provides a discount of up to $23,928.60 on stamp duty.
https://nt.gov.au/property/homeowner-incentives/first-home-owners/first-home-owner-grant
https://nt.gov.au/property/homeowner-incentives/first-home-owners/first-home-owner-discount?SQ_VARIATION_471617=0

 

Western Australia
Western Australia’s first home owners grant of $10,000 is available to first home owners buying or building a new property of a maximum value of between $750,000 and $1 million depending on the location. Each applicant must live in the home for a continuous period of at least six months.
All first home buyers, whether purchasing a new or established property, may be entitled to the first home owner rate of duty if the value of the home is less than $530,000. First home buyers of properties up to $400,000 might also be eligible for a grant from the Home Buyers Assistance Account, which provides up to $2,000, subject to criteria, for incidental expenses associated with purchasing a first home, which they must intend to live in for at least 12 months. The home must be established or partially built, not vac6ant land or a house and land package.
https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx
https://www.commerce.wa.gov.au/consumer-protection/home-buyers-assistance-account

 

Tasmania
Tasmania’s $30 000 first home owners grant is available to eligible first home buyers and builders commencing purchases between 1 April 2021 and 30 June 2022. The property must be new or off-the-plan, and all grant applicants must live in the home for a continuous period of at least six months. Land tax is not payable on a principal place of residence. First home buyers should apply for a principal residence land classification.
https://www.sro.tas.gov.au/first-home-owner/eligibility
http://www.sro.tas.gov.au/land-tax

This information changes periodically, and the best way to stay on top of it is to consult and experienced mortgage broker. The team at Coronis will be happy to share their expertise in determining which grant or assistance scheme you can best access, so contact us at any time for the latest information. In the meantime, you can start navigating the process by downloading our step-by-step guide to buying your first home, which is packed full of valuable information to help you make the best decision.

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Looking for a first home buyer loan? We’ve got the right one for you

Because we know that buying a property is one of the biggest financial commitments you’ll ever make, we’ve selected a team of industry-leading first home buyer mortgage brokers to help you choose the right loan for your circumstances. Your specialist mortgage broker will negotiate personalised loan rates and terms from a range of lenders, and help you find the right solution to meet your needs.
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