First Home Buyer Mortgage Broker in Sydney
You can buy your first home in NSW with a 5% deposit and no lenders mortgage insurance (LMI) through the Australian Government 5% Deposit Scheme. Homes up to $800,000 are also exempt from NSW transfer (stamp) duty. We help you check which schemes you qualify for, find a participating lender and get pre-approved before you start bidding.
NSW & federal support at a glance (as at October 2026)
| Scheme | What you get | Limit |
|---|---|---|
| 5% Deposit Scheme (Australian Government) | Buy with a 5% deposit and no LMI | Property price cap $1.5 million in Sydney |
| Transfer duty exemption (NSW) | No transfer (stamp) duty | Homes up to $800,000 |
| Transfer duty concession (NSW) | Reduced transfer duty | Homes up to $1 million |
| First Home Owner Grant (NSW) | $10,000 | New homes |
All schemes have conditions, including Australian citizenship or permanent residency, living in the home (usually within 12 months, for at least 6–12 months), and lender approval. Caps and amounts change, so we check the official tools with you before you sign a contract.
How we help first home buyers
Work out your numbers
Deposit, borrowing power, stamp duty, LMI or no LMI, and upfront costs like conveyancing and inspections.
Check scheme eligibility
We confirm which schemes you qualify for and which lenders take part in the 5% Deposit Scheme.
Get pre-approved
So you know your ceiling before auctions and open homes.
Apply and settle
We handle the paperwork with the lender, your conveyancer and Revenue NSW.
What lenders look for
Genuine savings
Usually 5% of the price held for 3+ months (some lenders accept rent history instead).
Stable income
Most want 3–6 months in your current job, or 2 years' tax returns if self-employed.
Clean credit history
Check your report before you apply with our online Credit Check.
Living costs and debts
Credit card limits count even if you pay them off monthly.
Check your credit report first with our online Credit Check →
First home buyer questions
Can I use the 5% Deposit Scheme and the stamp duty exemption together?
Yes. They're separate federal and NSW programs, and eligible buyers can use both on the same purchase.
Do I need 20% to avoid LMI?
Not if you qualify for the 5% Deposit Scheme: the government guarantee replaces LMI. Without the scheme, borrowing above 80% of the value usually means paying LMI.
Can my parents help?
Yes, through a gifted deposit or a family guarantee using equity in their home. Each has risks for your family, and they should get independent legal advice.
How long does pre-approval last?
Usually 90 days, depending on the lender.
Related loans
Book a free first home buyer chat — 0402 597 375.
Book a free chatScheme details from Housing Australia, Revenue NSW and the ATO as at October 2026. General information only; check eligibility with us before signing a contract.