Buying your first home can feel complicated, especially when you are working out your deposit, borrowing power, purchase costs and suitable loan options.
Caspian Finance helps first home buyers across Merrylands, Western Sydney and Greater Sydney understand each stage of the process, from establishing a realistic budget through to loan approval and settlement.
Our mortgage brokers can assess your financial position, explain lender requirements, compare suitable first home buyer loans from our lender panel and help you prepare a home loan pre-approval application.
We can also help you understand government assistance that may be available, including the Australian Government 5% Deposit Scheme, the NSW First Home Buyers Assistance Scheme and the First Home Owner Grant for eligible new homes.
The first home-buying process usually begins with understanding your budget and continues through pre-approval, property selection, formal loan approval and settlement. Caspian Finance guides first home buyers through each stage, explaining what to expect and helping to keep the application moving.
We discuss your income, expenses, savings, deposit, existing debts, and property goals.
This helps us estimate your borrowing power, identify likely purchasing costs and establish a realistic property price range.
We assess suitable lender options and help prepare your home loan pre-approval application.
Pre-approval can give you a clearer understanding of your potential borrowing limit before you begin making offers on properties.
We compare suitable first home buyer loans from our lender panel, considering interest rates, fees, repayment structures and features such as offset accounts and redraw facilities. We explain the differences so you can make an informed choice.
After formal approval, we help you understand the loan documents and work with the lender and your conveyancer to keep the finance process on track.
We remain available through to settlement and after you receive the keys to your first home.
Once you are ready to proceed, we help complete the loan application, organise the required supporting documents and liaise with the lender.
We also monitor any lender valuation that may be required and help respond to outstanding lender requirements through to formal approval.
We help you understand the government assistance that may be available, including the Australian Government 5% Deposit Scheme, the NSW First Home Buyers Assistance Scheme and the First Home Owner Grant for eligible new homes.
We also explain how these programs may affect your deposit and upfront purchasing costs.
Eligibility for first home buyer assistance depends on the program you are applying for. The Australian Government 5% Deposit Scheme, the NSW First Home Buyers Assistance Scheme and the NSW First Home Owner Grant each have different rules relating to previous property ownership, deposits, property values and occupancy.
Australian Government 5% Deposit Scheme: Applicants must be Australian citizens or permanent residents and at least 18 years old. You must have a minimum 5% deposit and either be a first home buyer or not have owned property or land in Australia during the previous 10 years. The home must be within the applicable location price cap and purchased as an owner-occupied property.
Loan Requirements: Applications under the Australian Government 5% Deposit Scheme must use an eligible owner-occupier home loan from a participating lender. The loan must generally have principal and interest repayments and a term of no more than 30 years, with additional time permitted for eligible construction loans. Applicants must also meet the participating lender’s credit assessment and loan approval requirements.
NSW First Home Buyers Assistance Scheme: To qualify for a transfer duty exemption or concession, the purchase must generally be made by an individual rather than a company or trust. You and your spouse or partner must not have previously owned or co-owned residential property in Australia or received an earlier benefit under the scheme. Where there is more than one buyer, at least one must be an Australian citizen or permanent resident.
NSW Property Value Thresholds: Eligible buyers may receive a full transfer duty exemption when purchasing a new or existing home valued at $800,000 or less. A concessional rate may apply to homes valued above $800,000 and below $1 million. For eligible vacant land, an exemption may apply at $350,000 or less, with a concession available above $350,000 and below $450,000.
Principal Place of Residence: For NSW First Home Buyers Assistance Scheme transactions entered into on or after 1 July 2023, at least one eligible buyer must move into the home within 12 months after settlement and live there continuously for at least 12 months.
NSW First Home Owner Grant: A $10,000 grant may be available when an eligible first home buyer purchases or builds a new home. The grant is not available for an established home. The purchase price of an eligible newly built or substantially renovated home must not exceed $600,000. For vacant land with a building contract, the combined land and construction cost must not exceed $750,000.
Caspian Finance can help you understand which first home buyer programs may apply to your circumstances, estimate your potential borrowing power and prepare a suitable home loan application.
Sources:
Australian Government, Australian Government 5% Deposit Scheme:
https://firsthomebuyers.gov.au/node/69409
Revenue NSW, First Home Buyers Assistance Scheme – Eligibility Criteria:
https://www.revenue.nsw.gov.au/property-professionals-resource-centre/guides-rulings-cpns/topics/first-home-buyers-assistance-scheme-guide/eligibility-criteria
Revenue NSW, First Home Buyers Assistance Scheme – Thresholds and Overview:
https://www.revenue.nsw.gov.au/property-professionals-resource-centre/guides-rulings-cpns/topics/first-home-buyers-assistance-scheme-guide/overview
Revenue NSW, First Home Owner (New Homes) Grant:
https://www.revenue.nsw.gov.au/grants-schemes/first-home-owner-new-homes-grant
Information current as at September 2026.
Several Australian and NSW government programs may help eligible first home buyers purchase with a smaller deposit, avoid Lenders Mortgage Insurance, build their deposit savings or reduce upfront purchasing costs. Each program has different eligibility rules, property price limits and ongoing requirements.
Australian Government 5% Deposit Scheme: Eligible first home buyers may purchase a home with a minimum 5% deposit without paying Lenders Mortgage Insurance. The Australian Government provides a guarantee to the participating lender, while the buyer remains responsible for the home loan and repayments. The scheme has no income caps, no waiting list and unlimited places. Applicants must purchase an eligible owner-occupied home within the applicable location price cap.
NSW First Home Buyers Assistance Scheme: Eligible first home buyers may receive an exemption or concession on transfer duty, commonly called stamp duty. A full exemption may apply to a new or existing home valued at $800,000 or less. A concessional rate may apply to homes valued above $800,000 and below $1 million. For vacant land, an exemption may apply at $350,000 or less, with a concession available above $350,000 and below $450,000.
NSW First Home Owner Grant: A $10,000 grant may be available to eligible buyers purchasing or building their first new home. Eligible properties can include newly built homes, off-the-plan purchases and substantially renovated homes. The purchase price must not exceed $600,000, or $750,000 for vacant land combined with an eligible building contract. The grant is not available for an established home.
Australian Government Help to Buy Scheme: Help to Buy is a shared equity program that may allow eligible buyers to purchase a home with a minimum 2% deposit. The Australian Government may contribute up to 30% of the purchase price of an existing home or up to 40% for a newly built home. There are 10,000 places available each year. The Government shares proportionally in any increase or decrease in the property’s value until its equity contribution is repaid.
For the 2026 financial year, Help to Buy applicants must generally have taxable income of no more than $103,000 for an individual applicant or $165,000 for joint applicants and single parents. All applicants must be Australian citizens, meet the relevant property price cap and live in the property as their principal place of residence.
First Home Super Saver Scheme: This scheme allows eligible first home buyers to make voluntary contributions to superannuation and later withdraw eligible contributions and associated earnings to help fund a first home deposit. Up to $15,000 of voluntary contributions made in any one financial year can count towards the scheme, with a maximum of $50,000 in eligible contributions available for withdrawal. Couples, friends or siblings purchasing together may each use their own eligible First Home Super Saver savings.
Some first home buyer programs may be used together, while others cannot. The assistance available will depend on your income, deposit, previous property ownership, intended property, purchase price and lender requirements. Caspian Finance can help you understand the available first home buyer schemes, compare suitable home loan options and prepare your finance application.
Sources:
Australian Government, Australian Government 5% Deposit Scheme:
https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme
Australian Government, First Home Buyers – 5% Deposit Scheme Eligibility:
https://firsthomebuyers.gov.au/node/69409
Australian Government, Help to Buy Scheme:
https://firsthomebuyers.gov.au/australian-government-help-buy-scheme
Australian Government, First Home Super Saver Scheme:
https://firsthomebuyers.gov.au/first-home-super-saver-scheme
Revenue NSW, First Home Buyers Assistance Scheme:
https://www.revenue.nsw.gov.au/property-professionals-resource-centre/guides-rulings-cpns/topics/first-home-buyers-assistance-scheme-guide/overview
Revenue NSW, First Home Owner (New Homes) Grant:
https://www.revenue.nsw.gov.au/grants-schemes/first-home-owner-new-homes-grant
Information current as at September 2026.
Buying your first home involves important decisions about your deposit, borrowing power, loan structure and property budget. Caspian Finance supports first home buyers across Sydney and Western Sydney from the initial consultation through to loan approval, settlement and beyond.
Ready to buy your first home? Contact Caspian Finance, your trusted first home buyer broker, today for expert guidance and support in securing the best loan and maximising available grants.
