As a UNO Mortgage Broker, I understand that buying your first home can feel overwhelming—especially with so many people saying that young Australians can’t break into the property market without family support. But I’m here to tell you that it is possible. There are several government programs and grants designed specifically to help first home buyers, and I’m here to personally guide you through them.
Whether you're looking to purchase in the city or a regional area, I'll help you navigate these schemes, understand your options, and find the right lender to make your dream of owning a home a reality.
One of the best ways to start your journey is by seeing if you qualify for the First Home Buyers Grant. This grant can help you purchase or build a new home, or even buy a property that has been significantly renovated. Since every state and territory in Australia has its own criteria for the grant, it’s important to check your local requirements. I can help you understand how this applies to your situation and guide you through the eligibility process.
The Australian government offers several guarantees that can help first-time buyers like you secure a home loan with as little as a 5% deposit—and without having to pay Lenders Mortgage Insurance (LMI). Here are the three main schemes I often help clients with:
I can help you determine which of these guarantees best suits your needs and walk you through the application process.
One of the first things I do with my clients is help them determine their eligibility for these schemes. The government offers an easy-to-use Eligibility Tool, but I’ll also go through it with you to ensure you understand everything clearly. You can access the tool here.
Once we’ve confirmed your eligibility, the next step is identifying the property price caps in your area, as these vary by state and region. I’ll assist you in finding homes that fit within those caps, but you can also check the limits using the Price Caps Tool here.
To qualify for these schemes, you’ll need to meet certain income criteria:
I’ll make sure your financial situation aligns with these requirements and guide you through how it impacts your application.
Another important consideration is genuine savings. Lenders typically want to see that you’ve saved at least 5% of the property’s value over time. This is what we call "genuine savings"—a record of consistent deposits over three months or more, which shows the lender that you’re responsible with your finances.
When you work with me, I’ll help you understand what qualifies as genuine savings, and I’ll assist you in preparing the necessary documents, including your Notice of Assessment (NOA) from the Australian Tax Office (ATO) and recent payslips.
Applying for one of these government guarantees is straightforward, especially when I’m here to help you every step of the way. Once we’ve confirmed your eligibility, I’ll assist you in completing the Home Buyer Declaration form, which is available on participating lender websites. Once you submit that form to me, I can reserve your spot in the scheme and begin working on securing your loan.
I know you might have a lot of questions, so here are some of the most common ones I hear:
If you’re ready to explore your options and get on the path to homeownership, I’m here to help. As a UNO mortgage broker, my goal is to make this process as smooth and stress-free as possible. I’ll work closely with you to find the best option for your financial situation and ensure you have access to all the support and resources you need.
Feel free to reach out to me directly through my UNO Home Loans profile. I look forward to helping you achieve your dream of owning your first home.
Let’s work together to make your first home dream a reality!
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