First Home Buyer Loans Melbourne
Navigate government grants, 5% deposit schemes, stamp duty exemptions, and 50+ 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:
- Home Guarantee Scheme (HGS): 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.
Our 4-Step First Home Approval Process
Borrowing Power Assessment & Budgeting
We analyze your income, living expenses, debts, and savings against 50+ 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 federal Home Guarantee Scheme (HGS), 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
