Home Loans for First Home Owners
Buying your first home is an exciting milestone. It’s the beginning of turning a property into a place you can truly call home—whether that’s laying the foundation for long-term wealth or creating a space to raise a family.
As one of the largest financial commitments you’ll make, partnering with the right Mortgage Broker like QF Finance is vital.
Frequently Asked Questions
What is the 5% Deposit Scheme?
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The Australian Government offers a scheme designed to assist eligible first home buyers to purchase their first property with a deposit as low as 5%.
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Eligibility for government schemes depends on criteria such as, property price caps, residency requirements and participating lenders. Places may be limited and not all applicants will qualify.
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The scheme is available in all States and Territories; however, postcode or location restrictions may apply depending on the lender.
For further information, please contact QF Finance or visit the Housing Australia website: https://www.housingaustralia.gov.au/media/expanded-australian-government-5-deposit-scheme-support-more-australians-home-ownership
Note - A low deposit may reduce upfront costs but can increase loan size and overall interest paid.
Am I eligible for the First Home Owner Grant?
The First Home Owner Grant (FHOG) is administered at a State and Territory level, meaning eligibility requirements and grant amounts differ depending on your location.
For example, in Victoria, the grant may be available to eligible first home buyers purchasing a newly built home, an off-the-plan property, or a property that has never been occupied.
Do first home buyers need to pay stamp duty?
Stamp duty rules are determined by each State and Territory and vary accordingly. Concessions and exemptions may be available to eligible first home buyers.
In Victoria, stamp duty concessions may apply for qualifying first home buyers purchasing properties valued up to $600,000.
For the most accurate and up-to-date information, please refer to your State or Territory’s revenue office.
Important:
Government schemes, grants, and concessions are subject to change at any time without notice. Eligibility criteria and benefits may vary. Please refer to the relevant government websites or speak with a QF Finance representative for current information.
At QF Finance, we understand the emotions and the considerations involved. That’s why we’re committed to guiding you through every step of the process and keeping you informed along the way.
Important Information & Disclaimer
This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.