First home buyer schemes in NSW, explained simply
There is real help for first home buyers, and it is easy to get lost in the acronyms. Here is the plain version. The figures and rules change often, so treat this as a map, not a quote.
The First Home Owner Grant
The First Home Owner Grant (FHOG) is a one off payment that can apply when you buy or build a new home, within certain price limits. It does not apply to every purchase, so the first question is whether your home qualifies.
The guarantees
The First Home Guarantee can let eligible buyers purchase with a five percent deposit and no Lenders Mortgage Insurance. The Family Home Guarantee can help eligible single parents with as little as two percent. Places and eligibility rules apply and change, so we check your position.
Stamp duty help
First home buyers in NSW can pay no stamp duty up to a threshold, with a concession on a band above that. Stamp duty is often the biggest upfront cost, so this one matters. The thresholds move, so I confirm the current rules for your price range before you count on it.
The First Home Guarantee can let eligible buyers purchase with a five percent deposit and no Lenders Mortgage Insurance.
If any of this is sitting on your mind, the fastest way through is a short chat. No cost, no pressure.