The Finance Algorithm

First Home Buyer Scheme Navigator

Find all grants, schemes, and concessions you're eligible for

Updated October 2026Built and checked by MaverickHow it's calculatedReport an error

Your numbers

Updates as you type
$
$650k
$
$125k

Combined gross annual income

$

The LMI your lender quotes for this purchase with a 5% deposit. The First Home Guarantee avoids it; leave at 0 if you don't have a quote.

The button asks our AI to explain these figures in words.

First home schemes: NSW

Total potential saving

$23,437

combined value of schemes

Eligible programs

4

that you may qualify for

Property value

$650,000

existing dwelling

Household income

$125,000

joint applicants

Biggest levers first

Grants and duty savings from each state's rules, plus your LMI quote if you entered one.

$23,437NSW Stamp Duty Exemption
Eligibility summary
First Home Guarantee (FHBG) Federal
Within the $1,500,000 cap for NSW capital city and regional centres ($800,000 elsewhere). Buy with a 5% deposit and no LMI; enter your lender's LMI quote to count the saving. No income caps or place limits since 1 October 2025.
Apply
Help to Buy (shared equity) Federal
The government can contribute up to 30% ($195,000) for a share of the home, with a 2% deposit. It is repaid when you sell, so it lowers the loan rather than saving money, and it can't be used with the First Home Guarantee.
Apply
First Home Super Saver Federal
Voluntary super contributions of up to $15,000 a year and $50,000 in total, plus deemed earnings, can be released for a deposit. The tax saving depends on each buyer's marginal rate.
Apply
NSW First Home Owner Grant State
The $10,000 grant is for new homes only.
Not eligible
NSW Stamp Duty Exemption State
First Home Buyers Assistance Scheme exemption: duty of $0 instead of $23,437 on a $650,000 home.
$23,437
$23,437 of first home support
For a $650,000 existing home in NSW, 4 programs may apply. $23,437 is the grant and duty saving. Help to Buy and the First Home Super Saver change how much you borrow or how you save, so they aren't counted as savings. The First Home Guarantee and Help to Buy can't be used on the same purchase; the grant and duty concessions can be combined with either.

How it works

First home buyers can get help from both levels of government: a state grant on new homes, a state stamp duty exemption or concession, and three federal schemes - the First Home Guarantee (5% deposit with no LMI), Help to Buy (a government equity share) and the First Home Super Saver. This tool checks each against your price, property type and income using the published 2026-27 rules, and adds up the grant and duty savings.

  1. 1Select your state
  2. 2Enter your target property value and type
  3. 3Provide your household income
  4. 4Add your lender's LMI quote if you have one, to count what the First Home Guarantee saves
  5. 5See which schemes apply and why

The figures today

The average new owner-occupier home loan was $842,000 in NSW and $664,000 in Victoria in the June quarter 2026, from the ABS. A two-bedroom unit on a new lease in NSW rents for a typical $785 a week.

As of 7 November 2026, the lowest variable home loan rate is 5.93%, from SCCU's BROKER HOME LOAN, while the typical best across 104 institutions is 6.38%. The lowest 3-year fixed home loan rate is 6.24%, from Credit Union SA's 3-Year Fixed 40 Year Home Loan Package, while the typical best across 80 institutions is 6.69%. The RBA cash rate is 4.85%. Those are for an owner-occupier paying principal and interest at an 80% LVR.

House prices and loan sizesRents by postcodeHome loan rates todayWho passed on the last RBA move

Worked examples

Sydney First Home Buyer

Emma earns $95,000 and wants to buy a $720,000 established apartment in NSW as her first home.

State/territory
NSW
Property value
$720,000
Property type
Existing Home
Household income
$95,000
Buying alone or with partner
Alone

Emma pays no transfer duty under the First Home Buyers Assistance Scheme, saving $26,587, because $720,000 is under the $800,000 exemption threshold. She is within the $1,500,000 Sydney cap for the First Home Guarantee, so she can buy with a 5% deposit and no LMI, and her income is under the $103,000 Help to Buy cap if she'd rather use a government equity share instead. The NSW grant doesn't apply because the home isn't new.

Melbourne Couple Buying New

Jake and Sophie have combined income of $160,000 and are buying a $650,000 new build.

State/territory
VIC
Property value
$650,000
Property type
New Build
Household income
$160,000
Buying alone or with partner
With Partner/Spouse

They get the $10,000 First Home Owner Grant and a duty concession that cuts their duty from $34,070 to $11,357, a $22,713 saving on the sliding scale between $600,000 and $750,000 - $32,713 in all. They can also use the First Home Guarantee to buy with a 5% deposit and no LMI.

Questions people ask

Can I use multiple schemes together?
Mostly. You can use the First Home Guarantee and still claim your state's First Home Owner Grant and its stamp duty exemption or concession. The exception is Help to Buy, which can't be used on the same purchase as the First Home Guarantee because both cover the gap left by a small deposit.
Are there still income limits or a yearly place cap on the First Home Guarantee?
No. From 1 October 2025 the federal government removed both the income caps (previously around $125,000 for singles / $200,000 for couples) and the annual place limit on the First Home Guarantee, Regional First Home Buyer Guarantee and Family Home Guarantee. The only federal eligibility gate now is the property price cap for your state and region.
What if I've owned property overseas?
It depends on the scheme. The state grants and the First Home Guarantee generally look at property owned in Australia, but Help to Buy excludes anyone who owns property in Australia or overseas. Check each scheme's rules before you apply.

The terms, in plain English

First Home Guarantee (FHBG)
Federal scheme allowing eligible buyers to purchase with as little as a 5% deposit without paying LMI. The government guarantees up to 15% of the loan. No income caps or annual place limits apply since 1 October 2025 - eligibility is now gated only by the property price cap for your state/region.
First Home Owner Grant (FHOG)
State cash grant for first home buyers of new homes: $10,000 in NSW, Victoria and WA, $15,000 in SA, $20,000 in Tasmania (to 30 June 2027), $30,000 in Queensland and $50,000 under the Northern Territory's HomeGrown Territory Grant. The ACT has no grant.
Help to Buy
Federal shared equity scheme, live since December 2025, where the government contributes up to 40% of a new home's price (30% for an existing home) for a matching share of the home, with a 2% deposit. From 1 July 2026 incomes must be under $103,000 for a single applicant or $165,000 for joint applicants and single parents. It can't be combined with the First Home Guarantee on the same purchase.

Official sources

Calculate Stamp Duty Savings

See exactly how much you'll save with first home buyer concessions.

Check if You Need LMI

Understand your LMI costs if you don't qualify for the First Home Guarantee.

Find Your Borrowing Power

See how much you can borrow to determine your property budget.