First Home Buyers
Home Loans
Looking to buy your next property? Whether you’re upgrading, relocating, or investing, we’re here to help you make the most of your next move. At Big Bear Wealth, we take the time to understand your goals and structure your next home loan with clarity, confidence, and strategy—so you can grow with peace of mind.
Who Is It For
Whether you’re moving into a larger home, relocating, buying a holiday property, or expanding your investment portfolio, a next home loan is the key to keeping your momentum going—without unnecessary stress or over complication.
We help:
- Growing families needing more space.
- Homeowners relocating for lifestyle or work.
- Investors purchasing their second or third property.
- Clients leveraging equity in an existing home.
First Home Buyers
Buying your first home is a big milestone—and we’re here to make it simple. At Big Bear Wealth, we guide first home buyers through every step of the journey, from understanding government schemes to securing the right loan with confidence and clarity.
How We Help
We break the process down into simple, easy-to-understand steps so you feel confident at every stage. Our role is to:
- Help you understand your borrowing capacity
- Explain loan types, interest rates, and repayment options
- Assist with first home buyer grants and government schemes
- Compare loans across 30+ lenders to find the best fit
- Prepare and submit your loan application
- Support you right through settlement and beyond
Our First Home Process
- Initial Chat
We get to know you, your goals, and how much you can comfortably borrow. - Pre-Approval
We secure a lender pre-approval so you can house-hunt with confidence. - Government Grants Check
We review all available first home buyer assistance and submit applications where eligible. - Loan Match & Application
We compare lenders and submit your application for formal approval. - Settlement & Ongoing Help
We guide you through settlement and remain in touch for future reviews and support.
Who Qualifies?
To access first home buyer benefits and government schemes, certain criteria must be met. While requirements vary slightly depending on the specific grant or program, here’s a general guide:
- You’re 18 years or older
- You’re an Australian citizen or permanent resident
- You’ve never owned property in Australia (including investment property)
- You’re buying or building your first home to live in (not rent out)
- You meet the purchase price limits and income thresholds set by the program
- You intend to live in the property as your principal place of residence
First Home Buyer Grants & Schemes in NSW:
Buying your first home is exciting — but the upfront costs can feel overwhelming. The good
news is, there are several government grants and schemes that can help you get into the
market sooner. Here’s a simple breakdown of what’s available in NSW:
- What it is: A discount or even a full exemption on stamp duty (also called transfer
duty). - How it helps: This can save you tens of thousands of dollars when you buy your first
home.
Who Qualifies:
- First home buyers who are Australian citizens or permanent residents.
- Homes up to $800,000 are completely stamp duty free.
- Between $800,000–$1 million, you’ll pay a reduced amount.
- For vacant land, the full exemption applies up to $350,000 (reduced up to
$450,000).
Extra rule: You’ll need to move in within 12 months and live there for at least a year.
First Home Owner Grant (New Homes)
- What it is: A one-off $10,000 payment to help buy or build a brand-new home.
- How it helps: Puts cash back in your pocket to help with your deposit or other costs.
Who Qualifies:
- Buying or building a new home (including off-the-plan or substantially
renovated). - Property price up to $600,000 for a home on its own, or up to $750,000 if it’s
a house + land package. - At least one buyer must be an Australian citizen or permanent resident.
Extra rule: You need to live in the home for at least 12 months once it’s ready.
Shared Equity / Low Deposit Schemes
- What it is: The government can contribute to the purchase price by taking a share in
the home. - How it helps: You need a smaller loan and deposit, meaning lower repayments.
Who Qualifies:
- Usually aimed at key workers (teachers, nurses, police, etc.), single parents, or
lower-income buyers - Property price and income caps apply.
Good to know: You don’t pay interest or rent on the government’s share.
Federal Government Support (Available Across Australia)
In addition to NSW state incentives, the Australian Government offers national programs
designed to make buying your first home more achievable. These schemes focus on lowering
deposit requirements, reducing upfront costs like Lenders Mortgage Insurance (LMI), and
helping you save a deposit faster.
First Home Guarantee (FHBG)
- What it is: Lets eligible first-home buyers purchase with a deposit as low as 5%
without paying LMI. - Why it helps: Normally, lenders require 20% deposit or you pay thousands in LMI. The
guarantee saves you that cost.
Key Rules:
- You must be a first-home buyer (or haven’t owned property in the last 10
years). - Income caps apply (e.g. $125,000 for singles, $200,000 for couples — based
on recent updates). - Property price caps vary depending on the city/region.
Regional First Home Buyer Guarantee (RFHBG)
- What it is: Similar to the FHBG but specifically for people buying in regional areas.
- Why it helps: Encourages first-home buyers to purchase outside the big metro hubs.
home.
Key Rules:
- Same deposit requirement (as little as 5%).
- You need to live in the regional area where you’re buying.
- Property price caps apply (different from metro areas).
Family Home Guarantee (FHG)
- What it is: Tailored for single parents (with at least one dependent child).
- Why it helps: Lets you buy a home with as little as 2% deposit — a huge saving when
juggling family expenses.
Key Rules:
- You don’t have to be a first-home buyer — it’s open even if you’ve owned a
home before (as long as you don’t currently own property). - Must be an Australian citizen.
- Income caps apply (currently $125,000 per year).
First Home Super Saver Scheme (FHSSS)
- What it is: Lets you save money for a deposit inside your superannuation fund.
- Why it helps: Contributions into super are taxed at a lower rate than regular income,
which can help you build a deposit faster.
How It Works:
- You can withdraw up to $50,000 of eligible contributions (and associated
earnings) to use as part of your deposit. - Applies to voluntary contributions (extra money you put into super, not your
employer’s guarantee contributions). - Great option for disciplined saving — the money is “locked away” until you’re
ready to buy.
For further information or clarification please contact us or refer to official government page
https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer
FAQs
Q: How much deposit do I need as a first home buyer?
A: With the First Home Guarantee, you may only need 5%. Without it, aim for 10–20%. We’ll assess your options.
Q: Can I still buy with help from parents?
A: Yes! There are guarantor and gifted deposit options—we’ll talk you through both.
Q: What if I’m self-employed or on a contract?
A: That’s fine. We work with lenders who support different income types and employment structures.
Australian Credit Licence Number: 394950