First Home Buyer Loans in Sydney
Buying your first home in Sydney is one of the biggest financial decisions you'll make.
We will make sure you have the right first home buyer loan, obtain the right grants, and are placed with the lender that is in your best interest.
If this is your first time looking to buy a home, then this guide is for you!
We cover the savings you need, a breakdown of the First Home Loan Schemes available, the process, and the risks to be aware of as a first home buyer.
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GRANT, SCHEMES, AND A TEAM ON YOUR SIDE
Your first home, with the right schemes
Buying your first home in Sydney is one of the biggest financial decisions you'll make. We’ll help you understand whether buying now makes sense for your circumstances. We work out what you're eligible for, how the schemes stack together, and which lender suits you best, then guide you from first chat to settlement.
5% Deposit Scheme
Minimum of 5% deposit needed with the Australian Government Scheme, also referred to as the First Home Guarantee Scheme.
$0 LMI
No LMI to pay.
Up to $800k
Full NSW stamp duty exemption threshold applies, with a discounted amount also available up to $1m.
$50k
Available to withdraw under the First Home Super Saver Scheme (per person). Capped at $15k in contributions per year
GOVERNMENT SCHEMES
Federal Government Support that helps you buy
Here are five federal schemes available, and below on this page you will also see the state schemes available. You can combine federal schemes with the state schemes. The goal is to find the right combination for you.
First Home Guarantee (also called the Australian Government 5% Deposit Scheme)
This is the big one, and it became much more generous on 1 October 2025. You can buy your first home with as little as a 5% deposit and pay no Lenders Mortgage Insurance, because the government guarantees the gap between your deposit and 20%. Normally a deposit under 20% means paying LMI, which can add thousands to your costs, so this is a genuine saving.
Single Parent 2% Deposit Scheme (also called Family Home Guarantee)
For eligible single parents and single legal guardians with at least one dependent child. You can buy with as little as a 2% deposit and pay no LMI. You must be an Australian Citizen or Permanent Resident and not have owned a property in the last 10 years. We can check where you sit.
Regional First Home Buyer Guarantee
For first home buyers purchasing in regional areas. You buy with a 5% deposit and pay no LMI, similar to the First Home Guarantee but designed for buyers outside the major cities. You can check whether a suburb qualifies using the Housing Australia regional checker, and we can do this with you.
Help to Buy (Shared Equity Scheme)
A newer scheme that opened on 5 December 2025, and it works differently. Instead of guaranteeing your deposit, the government becomes part owner of your home alongside you. That lowers the amount you need to borrow, which means smaller repayments. You contribute as little as a 2% deposit, and the government contributes up to 40% of the price for a new home, or up to 30% for an existing home. Help to Buy uses slightly different price caps in some areas (the Sydney cap is $1,300,000, compared with $1,500,000 under the 5% Deposit Scheme), and it doesn't remove stamp duty, which is a separate state cost.
First Home Super Saver Scheme
Helps you save your deposit faster using your super, where savings are generally taxed more favourably than in a normal bank account. You make extra voluntary contributions to your super, then withdraw them (plus some earnings) to put toward your first home. You can count up to $15,000 of voluntary contributions per financial year, and withdraw up to $50,000 in total (up to $100,000 for a couple, since the limit is per person).
Many first home buyers qualify for more than one scheme. We'll check your eligibility, model how they stack together, and run the application alongside your loan.
PROPERTY PRICE CAPS
What are the maximum property price caps?
Your home has to be under the price cap for your area to use the First Home Guarantee. The caps are set by Housing Australia and were increased in October 2025.
| State / Territory | Capital city & regional centres* | Other areas |
|---|---|---|
| New South Wales | $1,500,000 | $800,000 |
| Victoria | $950,000 | $650,000 |
| Queensland | $1,000,000 | $700,000 |
| Western Australia | $850,000 | $600,000 |
| South Australia | $900,000 | $500,000 |
| Tasmania | $700,000 | $550,000 |
| Australian Capital Territory | $1,000,000 (all areas) | |
| Northern Territory | $750,000 (Darwin) | $600,000 |
*Regional centres are Illawarra, Newcastle and Lake Macquarie (NSW), Geelong (VIC), and the Gold Coast and Sunshine Coast (QLD). Check the cap for your suburb on the Housing Australia postcode search before you buy.
FROM A FIRST CHAT TO KEYS IN HAND
The First Home Buyer Process
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First Chat
A conversation to understand your goals, income and timeline.
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Eligibility Check
We map out the schemes you qualify for and how they combine.
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Pre-Approval
We'll assess your options, negotiate with multiple lenders and obtain your pre-approval, so you can go house hunting with confidence.
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Offer Acceptance
We help guide you through buying and confirm the lender will be comfortable with your specific property before you commit.
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Settlement
Valuation, unconditional or formal approval, and then settlement, all coordinated for you.
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Post Settlement
We'll make sure you're on terms that are in your best interest, continuing to negotiate with your lender well into the future, so you don't have to.
WHY CHOOSE BLACK & WHITE FINANCE
First home buyers deserve a real person
Buying your first home shouldn't be an information overload. We explain things plainly, hold the schemes in our head so you don't have to, and stay involved from your first call through to settlement and beyond.
Plain Advice
Schemes, jargon, and trade-offs explained in language you can actually use.
Two Points of Contact
You get a broker and a manager helping you from the initial assessment, through to settlement and beyond.
Family Owned with Experienced People
Founded by Peter & Jaimee in 2017. Still family-run, still hands-on, supported by a team of exceptional people that continues to achieve amazing results for first home buyers.
NSW GOVERNMENT SCHEMES
State Government Schemes
On top of the Federal schemes, NSW has its own support for first home buyers. There are two main ones.
First Home Buyer Assistance Scheme (stamp duty savings)
Stamp duty (also called transfer duty) is one of the biggest upfront costs of buying, so this scheme can save you a lot. Eligible first home buyers pay no stamp duty on a home valued up to $800,000, and a reduced amount on a home valued between $800,000 and $1,000,000.
First Home Owner Grant (New Homes)
A $10,000 grant when you buy or build a brand new home (one that hasn't been lived in before, bought off the plan, or substantially renovated). In NSW, eligible newly built or off-the-plan purchases must not exceed $600,000; qualifying land-and-build arrangements have a $750,000 combined limit.
Can I combine the Federal and State schemes? This is one of the most useful things to understand, and it's where good advice pays off. You can generally combine a Federal guarantee with the NSW schemes. For example, you might use the First Home Guarantee for your 5% deposit and no LMI, and also claim the First Home Buyer Assistance Scheme for stamp duty savings. You can't combine Help to Buy with the First Home Guarantee. These are two different paths, so you choose the one that leaves you better off. Working out the best combination for your income, deposit and the type of property you want is exactly what we do every day. It's easy to leave money on the table if you get the order wrong.
CREATING LIFE-LONG RELATIONSHIPS
What our Sydney First Home Buyer clients say
QUESTIONS?
Frequently Asked Questions About First Home Buyer Loans in Sydney
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Looking at one or two banking options only. Borrowing capacity can vary by $100,000+ between lenders.
Bidding at auction without a pre-approval. Auction contracts are unconditional, with no finance clause.
Underestimating costs. Stamp duty and purchase costs sit on top of your deposit.
Taking on new debt mid-process. Car loans, credit cards or buy now, pay later can reduce your borrowing capacity.
Assuming scheme eligibility. Federal and State scheme eligibility can get quite detailed and there's often confusion here, which is why you need experts to guide you through the process.
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First home buyers need clear advice and consistent support from start to finish.
We’ve helped hundreds of Sydney clients navigate the First Home Guarantee, FHBAS, and FHSS and we stay on your file from first call through to keys.
No templates, no jargon, just clear explanations, honest trade-offs, and confidence in what you’re signing.
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For most first home buyers, our service is free. We’re paid by the lender when your loan settles. If a fee applies, we’ll explain it early so you can decide whether to proceed or not. All but a few of our home buyer loans that we've provided over the years, have been free.
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Also called the Australian Government 5% Deposit Scheme, this is the big Federal scheme, and it became much more generous on 1 October 2025.
The First Home Guarantee lets you buy your first home with as little as a 5% deposit and pay no Lenders Mortgage Insurance, because the government guarantees the gap between your deposit and 20%. Normally a deposit under 20% means paying LMI, which can add thousands to your costs, so this is a genuine saving.
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Yes, through the First Home Super Saver Scheme, using eligible voluntary contributions. Timing matters: the ATO determination and release process have specific deadlines, so check the requirements before signing or settling. It can take a bit of time to actually release this money, sometimes a few weeks or more.
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Lenders Mortgage Insurance protects the lender when your deposit is below 20%.
First home buyers can avoid LMI by saving a 20% deposit, using the First Home Guarantee, or applying with a parental guarantor.
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Eligible first home buyers pay no stamp duty on properties up to $800,000 and receive a concession up to $1,000,000.
Above $1,000,000, standard stamp duty applies.
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Yes. Off-the-plan apartments may qualify for the $10,000 First Home Owner Grant and stamp duty concessions.
The key issues are settlement timing and whether lenders are comfortable with the development. We check both upfront.
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Buying with a partner is usually straightforward. Buying with a friend or family member can work, but needs careful structuring.
Most joint loans are “joint and several”, meaning each borrower is responsible for the full debt. A co-ownership agreement is strongly recommended.
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There isn’t one credit score that guarantees approval. We review your credit report and financial position early, then assess which lenders may suit your circumstances. As a guide, a score above 700 is comfortable with most major lenders. We review your credit position early so we can choose the right lender first.
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Absolutely. We can assess your borrowing position, check which schemes may suit you and work out what you still need to save. Even if buying is months away, we can help you put a clear plan in place. Some clients need us to implement strategies with a 6-month timeline.
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You don’t need to bring documents. Just have a rough idea of your income, savings, expenses and debts, including HECS and credit cards. We’ll also discuss your goals, timing and any loan preferences. Your meeting invite will include a simple agenda that we will provide in our calendar invite for you to review beforehand.
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Yes. If you're fortunate to have a family gift available, it can boost your deposit, reduce how much you need to borrow and potentially mean you don’t need a government scheme. We’ll help you understand how it fits into your loan options.
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We’ll review the valuation with you, explain how it affects your proposed loan, and work through your options. We also help you review property price information before you buy once we're made aware of what you're interested in. We’re not buyer’s agents and can’t guarantee a lender’s valuation but we can take the necessary means to reduce the risk and that we do. Given the experience we have, the data that we have access to and the strategic approach we undertake for our clients, it is extremely rare for a valuation to come in low. A lot of work is done up front here with Black and White Finance.
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We’ll get to know you, discuss your goals and financial position, and outline a possible path to buying. We’ll also explain our process and answer your questions. We will explain to you our process, and if you feel comfortable with everything, then you can decide if you'd like to move forward or not. It's completely up to you.
Scheme rules, income limits and property price caps are current as at October 2026 and can change. This page is general information only and is not financial advice. Speak with our team for advice specific to your situation.
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ONE PROMISE. NO GREY AREAS.
Ready to buy your first home?
A chat, no jargon, no pressure. We'll map out the schemes you qualify for and how to combine them, then run the loan application for you end-to-end.
Book a consultation or call us directly on 0448 890 186