First Home Buyer Loans Melbourne
Navigate government grants, 5% deposit schemes, stamp duty exemptions, and 30+ bank comparison with dedicated Melbourne mortgage brokers. 100% free service.
Unlock Australian Government First Home Buyer Grants & Schemes
Buying your first property in Victoria or across Australia is one of the most exciting financial milestones. With the current property landscape, leveraging government incentives can save you tens of thousands of dollars in upfront cash deposit and taxes:
- Australian Government 5% Deposit Scheme: Purchase with just a 5% deposit without paying expensive Lenders Mortgage Insurance (LMI), backed by Housing Australia.
- Victorian First Home Owner Grant ($10,000 FHOG): A $10,000 grant for buyers purchasing or building a brand-new home valued up to $750,000.
- Victorian Stamp Duty Exemption: Zero stamp duty on home purchases up to $600,000 (saving up to $31,070), plus progressive stamp duty concessions up to $750,000.
- First Home Super Saver Scheme (FHSSS): Withdraw up to $50,000 of eligible voluntary super contributions to fund your home deposit with tax savings.
- Family Guarantor Loans: Use a portion of your parents' equity as security to borrow 100% of the purchase price plus stamp duty with zero cash deposit.
2026 Victorian SRO Stamp Duty Concession Table
First-home buyers in Victoria receive a 100% full stamp duty exemption on homes valued up to $600,000. For properties priced between $600,001 and $750,000, the State Revenue Office applies a tapered concession formula that significantly discounts your transaction costs.
| Purchase Price | Standard VIC Duty | FHB Concession Duty | Your Upfront Saving | Status / Tier |
|---|---|---|---|---|
| $500,000 | $25,070 | $0 | Save $25,070 | Full Exemption (100%) |
| $600,000 | $31,070 | $0 | Save $31,070 | Max Exemption (100%) |
| $650,000 | $34,070 | $11,357 | Save $22,713 | 66.7% Concession |
| $700,000 | $37,070 | $24,713 | Save $12,357 | 33.3% Concession |
| $750,000 | $40,070 | $40,070 | $0 | Concession Ceiling |
| $800,000 | $43,070 | $43,070 | Eligible for 5% HGS | Standard Duty / HGS Eligible |
| $950,000 | $52,070 | $52,070 | Eligible for 5% HGS | HGS Metro Cap ($950k) |
Duty = Standard Duty × [(Price − $600,000) / $150,000]
As your purchase price moves closer to $750,000, the concession phases out smoothly, ensuring no abrupt cliff-edge tax penalties.
Under the expanded Australian Government 5% Deposit Scheme administered by Housing Australia (operating with no income caps, unlimited places, and higher property caps), eligible buyers can purchase with a 5% genuine deposit without paying Lenders Mortgage Insurance (LMI):
- Capital City & Regional Centres (Greater Melbourne & Geelong): Up to $950,000.
- Rest of State (Regional Victoria / Other): Up to $650,000.
- Upfront LMI Savings: Saves between $24,000 and $32,000+ in non-refundable bank mortgage insurance premiums.
- Postcode Verification (As at October 2026): Postcode eligibility and property price caps should be confirmed via Housing Australia's official property price cap tool.
Our 4-Step First Home Approval Process
Borrowing Power Assessment & Budgeting
We analyze your income, living expenses, debts, and savings against 30+ Australian bank credit policies to calculate your true maximum borrowing capacity.
Conditional Pre-Approval (90 Days)
We package and lodge your application to secure a formal 90-day pre-approval, allowing you to attend private inspections and bid at auctions with absolute certainty.
Property Valuation & Formal Approval
Once your contract of sale is signed, we order an expedited bank valuation, liaise with your conveyancer, and convert your pre-approval into an unconditional loan approval.
Settlement & Key Handover
We coordinate the settlement booking between the lender, State Revenue Office, and solicitors. Funds are transferred and you collect your keys!
Frequently Asked Questions: First Home Loans
How much deposit do I need to buy my first home in Melbourne?
Under the Australian Government 5% Deposit Scheme, eligible first home buyers can purchase with as little as a 5% genuine savings deposit without paying Lenders Mortgage Insurance (LMI). Alternatively, with a family guarantor loan, you can buy with 0% cash deposit.
What stamp duty exemptions are available for Victorian first home buyers?
In Victoria, first home buyers paying up to $600,000 for an established or new home receive a 100% full stamp duty exemption (saving up to $31,070). Properties priced between $600,001 and $750,000 receive a tapered concession.
Do I pay any broker fees for first home buyer mortgage services?
No. EZ Mortgage Broker provides 100% free residential mortgage broker services across Australia. We are compensated directly by the lender upon loan settlement, with zero cost to you.
Accredited Lender Panel
