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FIRST HOME BUYERS

Buy Your First Home with the Deposit You Actually Have

Waiting to save a full 20 percent deposit can keep you out of the property market for years. The loan that looks cheapest online may not fit your employment history, timing, or actual deposit structure. We assess your position against current lender serviceability buffers, determine your eligibility for government assistance, and manage your application from the first call through to settlement.
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40+
Lenders, including banks, non-banks and specialist funders
48 hours
Target turnaround once you provide the file
$0
Broker fee on a standard residential home loan
5%
Minimum deposit under eligible guarantee schemes, with no LMI
The deposit gap

The deposit is the real hurdle

Many buyers can manage the repayment and still stay stuck renting while prices move. We look at the statements and employment records to see what you need to buy now.
01

Buy with a 5% deposit

Under the Australian Government 5% deposit scheme, eligible buyers contribute at least 5% and a government guarantee covers the gap to 20%, so you can buy sooner.
02

Pay no lenders mortgage insurance

A deposit under 20% usually triggers LMI, which protects the lender and adds to the loan. Approved guarantee schemes remove that cost.
03

Prove genuine savings

Lenders want a consistent savings habit. Many require the deposit to sit in an account for at least three months. We check that your funds meet that definition.
04

A 2% deposit for single parents

Eligible single parents or guardians with a dependent child may use the Family Home Guarantee: a 2% deposit and no LMI, if you do not own a home at settlement. The Sydney cap is $1,500,000.
Government schemes

The assistance available to buyers in New South Wales

Price caps changed in late 2025. We map which federal and state programs apply to your purchase.
Federal

5% deposit scheme

Income caps and waiting lists were removed in October 2025. Eligible buyers can purchase up to $1,500,000 in Sydney, or $800,000 elsewhere in NSW, with a 5% deposit and no LMI. You must be a citizen or permanent resident and meet the ownership history test.
Federal

NSW stamp duty

The First Home Buyers Assistance Scheme removes transfer duty on new or existing homes up to $800,000. Between $800,000 and $1,000,000 a concessional rate applies. You need to live in the home for 12 continuous months.
State

First home owner grant

A newly built home, off-the-plan apartment, or house and land package may qualify for a $10,000 grant. The finished home must not exceed $600,000, or $750,000 for a combined land and building contract.
State

Family home guarantee

Eligible single parents can buy with a 2% deposit and no LMI. You do not have to be a first home buyer, provided you do not own a property at settlement. The Sydney cap is $1,500,000.
Family

Employment history

Casual, contract and probationary work are read differently. If you changed jobs, rely on overtime or earn commission, we match the file to a lender that accepts that evidence.
Lender

Cards, HECS and the property

An unused card limit is still a monthly liability. HECS reduces net income. Some postcodes and small apartments are restricted. We check those rules before the file is lodged.
Why The Lending Institute

Your numbers, not one bank's product list

A branch can only offer that bank's loans. Milo Marinkovic has more than seven years in lending and checks your numbers before an application is submitted.
01

Best interests duty

Brokers must put your interests first. We record the comparison, the total cost and the reason a loan was recommended.
02

The 3% assessment buffer

Lenders test repayments at 3 percentage points above the actual rate. We run that calculation before you apply.
03

Debt-to-income rules

Many lenders restrict loans where total debt is more than six times income. Cards, personal loans and HECS all count.
04

Commission in writing

We do not charge a broker fee on a standard residential home loan. The lender pays a commission at settlement. The dollar amount is in the credit proposal before you sign.
Your buying journey

From rough numbers to handing over the keys

01
Day 0

Set the brief

A phone or video call covers income, savings, suburbs and timing. You do not need a chosen property. We set a rough range and flag policy issues early.
Credit impact — none
02
Days 1–5

Build the file

The usual list is payslips, bank statements, identification and proof of the deposit. We aim to submit within 48 hours of receiving the correct documents.
Credit impact — soft enquiry only
03
Days 5–7

Compare and recommend

We compare about 40 lenders and send a written recommendation with rates, fees and the reason. Pre-approval follows once you agree.
Credit impact — enquiry recorded
04
Weeks 3–6

Apply and settle

When you find a property, pre-approval becomes unconditional approval after valuation. We coordinate the lender, your conveyancer and the agent.
Credit impact — account reported

Work out your deposit gap in two minutes

Borrowing power with the assessment buffer applied, stamp duty by state with first home buyer concessions, and the LVR threshold where LMI starts.
Open the calculators
First home buyer questions

Answers to the questions we get most

Mixed income, self-employment or a gifted deposit is faster to answer on a call than in a general note.
Ask a broker →
No. A 20% deposit avoids LMI. Many first home buyers use the 5% deposit scheme instead. Without the scheme, a smaller deposit is still possible and LMI is usually added to the loan rather than paid in cash.
Yes. The compulsory repayment reduces net monthly income, and lenders include that in the serviceability test. We calculate the effect on the maximum loan.
On a standard residential home loan we do not charge a broker fee. The lender pays a commission at settlement. That does not increase your rate or loan fees. The amount is in the credit proposal before you proceed.
Yes. A gift can lift the deposit, though many lenders still want some genuine savings over three months. A guarantee uses equity in their home so you can avoid LMI.
Pre-approval is an indication based on your current finances, subject to conditions. Formal approval comes after you sign a contract and the lender accepts a valuation of that property.
Call your broker

Let us run the real numbers

You do not need a lender or a property today. Tell us what you earn, what you owe and how much you have saved. We will apply current policy and explain what the application needs.
Call us nowSpeak to a Broker
No application on the first call
We check whether the request is workable on current policy.
A document list for your file
You collect only the items that match your income and loan.
Speak with your broker
The enquiry goes to Milo Marinkovic.