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Eastern Suburbs Specialists
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FIRST HOME BUYERS - 5% DEPOSIT, NO LMI
Skip years of saving a 20% deposit. Under the First Home Guarantee Scheme NSW, eligible first home buyers can purchase with as little as 5% deposit and avoid Lenders Mortgage Insurance entirely - and eligible buyers can also receive up to $2,500 back on conveyancing. As your dedicated first home buyer mortgage broker in Sydney, we check your eligibility, compare 30+ lenders, and guide you through every grant you may qualify for - so you can buy sooner, with confidence.
Prefer to call? Reach Lenny directly: 0438 115 643
EXCLUSIVE OFFER FOR ELIGIBLE FIRST HOME BUYERS
We'll Help You Get Into Your First Home - And Save You Up to $2,500 Along the Way.
Eligible first home buyers across Sydney's Eastern Suburbs may receive a Conveyancing Rebate up to $2500.
Through our exclusive partnership with Kydon Segal Lawyers. Subject to eligibility*
The First Home Guarantee Scheme NSW: How It Works
Under the First Home Guarantee scheme, eligible first home buyers can purchase with just a 5% deposit, instead of needing a 20% deposit to avoid Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of your loan directly to the lender, which covers the gap to 20% and removes the need to pay LMI.
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It's important to understand this is a guarantee, not a cash grant. You still borrow, still make repayments, and remain fully responsible for the loan, in the same way as any other home loan.
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Major changes took effect from 1 October 2025, making the scheme far more accessible:
Unlimited places - previously the scheme capped the number of guarantees available each year; that cap has been removed entirely
No income caps - higher-income first home buyers can now access the scheme, where previously income limits excluded many buyers
Higher property price caps - NSW price caps increased substantially to reflect current property values
Are You Eligible for the First Home Guarantee Scheme?
To qualify, you generally need to:
Be an Australian citizen or permanent resident, aged 18 or over
Be a genuine first home buyer, or not have owned residential property in Australia in the past 10 years
Intend to live in the property as your principal place of residence, generally moving in within 6 months of settlement (or of the occupancy certificate for new builds)
Apply as an individual - the scheme cannot be used to purchase through a company or trust
Apply through a Participating Lender - Orca can help you understand which lenders on our panel participate in the scheme.
Buy Your First Home in Sydney With as Little as a 5% Deposit
The old rule of needing a 20% deposit to buy your first home no longer applies for most eligible buyers. As your first home buyer mortgage broker in Sydney, we help you navigate the First Home Guarantee Scheme NSW and other support available, so you can buy your first home sooner rather than waiting years longer to save.
Current NSW price caps (from 1 October 2025):
Sydney, and other NSW capital city / regional centre areas:
$1,500,000
Other NSW areas:
$800,000
Not sure if you qualify for the 5% deposit scheme?
Book a free eligibility check and we'll tell you where you stand within one conversation.
Prefer to call? Reach Lenny directly: 0438 115 643
More Support to Help You Buy Sooner
Buy or Build: What Properties Qualify for the First Home Guarantee?
The scheme isn't limited to existing homes. Eligible buyers can use the First Home Guarantee to:
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Purchase an established home
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Purchase a newly built home or apartment
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Purchase vacant land and build, via a house and land package or a separate construction contract
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If building is part of your plan, our guide to construction loans covers how financing works differently for a build compared to buying something move-in ready.
How We Help You Navigate the First Home Guarantee Scheme
Not every lender on the market participates in the scheme, and among those that do, policies and processing times can differ. As your first home buyer mortgage broker in Sydney, we compare your situation across our panel of 30+ lenders, including those actively participating in the First Home Guarantee Scheme, to match you with the right lender for your circumstances - not just the first one that says yes.
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Before any of that, it's worth understanding how much you can actually borrow, so you know what price range to search within from day one.
Eligible first home buyers may receive up to $2,500 back on conveyancing.
Through our exclusive partnership with Kydon Segal Lawyers, eligible first home buyers across Sydney's Eastern Suburbs and greater Sydney may receive a conveyancing rebate of up to $2,500. Subject to eligibility. Ask Lenny at your strategy chat.
Frequently Asked Questions
Questions we hear most often from first home buyers across Sydney's Eastern Suburbs.