First home buyers in Australia may be eligible for a range of support, depending on their circumstances and the state or territory they are buying in. This can include the First Home Owner Grant, stamp duty concessions or exemptions, and the Home Guarantee Scheme, which may allow eligible buyers to purchase with a deposit as low as 5%. At Raise The Bar Finance, we help you understand what support may be available, assess your eligibility, and work through how these grants and incentives could reduce your upfront costs.

A 20% deposit is often seen as the benchmark because it can help you avoid Lenders Mortgage Insurance (LMI). That said, many first home buyers can still purchase with a smaller deposit, especially where government schemes or lender policies apply. In some cases, eligible buyers may be able to buy with 5%, 10% or 15%, depending on the property, lender and overall scenario. The right deposit strategy depends on the property price, your borrowing power, your savings position and the lender involved. At Raise The Bar Finance, we help you understand your options clearly and work out what deposit level may suit you best.

First home buyers can often access competitive interest rates, with some lenders offering discounted pricing for new borrowers. The rate available will vary depending on the lender, loan product, deposit size, your financial position and whether you choose a variable, fixed or split loan structure. At Raise The Bar Finance, we look beyond just the headline rate. We compare lenders and loan options based on both pricing and structure, so you have a clearer view of what may suit your needs now and over the longer term.

The time it takes to get a home loan approved can vary depending on the lender, how complete your documents are, and how straightforward the application is. As a guide, pre-approval can often take around 3 to 8 business days when everything is ready, while formal approval after you have found a property may take 2 to 4 weeks. At Raise The Bar Finance, we help keep the process moving by ensuring your application is presented clearly, your documents are in order, and lender requirements are addressed early.

Both variable and fixed rate loans can work well, depending on your situation. A variable loan can offer more flexibility and features such as an offset account, while a fixed loan can provide more certainty around repayments for a set period. Some first home buyers also consider a split loan, which combines both. The right choice depends on your comfort with repayments, your plans for the property, and how much flexibility you want. At Raise The Bar Finance, we help you understand the pros and cons of each option so you can make a more informed decision.

A pre-approval is when a lender assesses your financial position and indicates how much you may be able to borrow, subject to conditions. It helps you understand your borrowing capacity before you start making offers.
Having pre-approval in place can help you search with more confidence, bid at auction with a clearer limit, and move faster when the right property comes up. At Raise The Bar Finance, we help guide you through the process and position your application as strongly as possible.

A deposit guarantee, also known as a deposit bond, is an alternative to paying a cash deposit upfront when buying a property. Instead, a provider issues a guarantee to the seller for the deposit amount.
It can be useful where funds are tied up or timing is tight between selling and buying. At Raise The Bar Finance, we help you understand whether a deposit guarantee may be suitable for your situation.

FHOG stands for First Home Owner Grant. It is a government initiative that may be available to eligible first home buyers purchasing or building a new residential property.
The grant amount and eligibility rules vary by state or territory. At Raise The Bar Finance, we help you understand whether you may be eligible and how FHOG may work alongside other first home buyer support.