First home buyers
First Home Buyer Loans Sydney
Buying your first home in Sydney is a deposit, a grant puzzle, and a lender that will actually accept your file. As a mortgage broker in Sydney we line those up before you make an offer — so pre-approval matches the property you want to buy.
What first home buyers in Sydney usually need
A realistic borrowing figure, a deposit plan (including whether LMI is cheaper than waiting), and a clear list of state and federal support you can actually use. Schemes change; we check the current rules for the state you are buying in.
Sydney prices mean many first buyers sit above 80% LVR. That is normal. The job is to pick a lender whose LMI, genuine savings and employment rules fit you — not to pretend every bank will say yes.
How we work the file
We collect income, HECS, living costs and any gifts or family guarantees. Then we model repayments and buffers so you are not stretched the week after settlement.
You leave with a pre-approval path and a shortlist. When you find a property, we lock the application and stay on the lender until unconditional approval.
FAQ
First Home Buyer Loans Sydney — common questions
How much deposit do I need as a first home buyer in Sydney?
Some lenders accept 5% plus costs on eligible files; others want 10% or more. LMI, genuine savings and the property type all matter. We calculate the cash you need before you inspect.
Can I use the First Home Guarantee or a similar scheme?
If a government guarantee or shared-equity scheme is open and you meet the criteria, we check participating lenders and price caps. Availability and rules change — we confirm live policy, not last year’s blog.
Does HECS-HELP stop me getting a home loan?
No, but compulsory repayments reduce serviceability. We model the ATO schedule the way bank calculators do so the borrowing figure is honest.
Can parents help with a family guarantee?
Often yes. Guarantor loans have strict security and exit rules. We only recommend them when the numbers and the family conversation both work.
Should I get pre-approval before I bid?
Yes. Sydney auctions and short campaigns move fast. Pre-approval tells you the ceiling and shows the selling agent you can settle.
Do you charge first home buyers a broker fee?
Most residential loans pay us via the lender at settlement. We disclose that before you proceed.
Can I buy an apartment as my first home?
Yes, subject to the lender’s high-density, location and size rules. We screen the strata and postcode before you pay for a building report you cannot finance.
Ready to compare lenders?
Tell us what you are trying to do. We will come back with a shortlist, not a product dump.