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First Home Buyers Sydney

Taking the leap towards becoming a homeowner in Sydney can seem daunting. If it’s your first time navigating the housing market, you might feel overwhelmed by numerous queries. Among the most common ones being – does Sydney offer a first-home buyer grant, and if so, what are its workings? Fear not, as we are here to untangle the complexities and shine a light on your path to homeownership. Let’s dive in and unravel this exciting journey together.

Why us? We Do It All & Explain It Well

An added perk, we furnish our esteemed clients with an exhaustive property report curated by Corelogic RP Data, Australia’s leading property data provider. In addition, our associated legal professionals will provide a complimentary review of your initial contract of sale and the section 32 document!

1. Peace Of Mind, Clarity & Smooth Process

You, as a first home buyer in Sydney, deserve to know what you are putting into your deposit, and how you can steadily pay off your mortgage over time. We guide you through every single step of the process to make things as easy and simple as possible for you by removing all unnecessary confusion and complexity.

2. More Wealth For Better Options & Better Lifestyle

There are three ways to guarantee a smooth home-buying process and maximise your wealth: working with a mortgage broker for first home buyers who will save you time, diminish your debts and risk quickly, and steer clear of costly mistakes.

3. More Time Doing What You Love

Our superior customer service will make everything simple for you – no complex documents, giant stacks of paperwork, or lack of time to review your documents, including first-home buyer deposit requirements. Whether you’re checking up on your wealth-building investments or paying off your cherished home, our process is easy and effective.

First Home Buyer Grants Sydney

Are you aware of the backing available from both the federal and state government when you’re on the journey to purchase your first home? Gaining a clear understanding of which grants and incentives you’re entitled to is a crucial step you should take before embarking on your home ownership adventure. If you’re considering financing options, consulting with a refinancing mortgage broker can provide valuable insights tailored to your specific needs.

First Home Owner Grant (FHOG)

This one-off payment is only available if you buy a newly built home or if you build a brand-new home from scratch. The property can be a house, townhouse, apartment or unit – but it must be valued at $750,000 or less, and it must be new (never previously sold or occupied). The first homeowner’s grant is worth $10,000 for homes in Sydney and $20,000 for homes in regional Victoria.

Stamp Duty Exemption or Concession

This one-off home buyer duty exemption applies to homes valued at $600,000 or less (which is a massive saving of around $30,000). For homes valued between $600,001 and $750,000, a stamp duty concession applies instead (which is a discount on the land transfer duty you pay). To be eligible, the home must be a principal place of residence (PPR).

First Home Buyer Guarantee Scheme

Also known as the Pilot Shared Equity Scheme, the FHBG is designed for first-home buyers in Sydney buying an existing home (providing it’s a residential property). It allows buyers to secure a loan with as little as a 5% deposit without needing to pay Lenders Mortgage Insurance (LMI). What is this means to you? You save approximatley stagerring $20,000 in LMI. To be eligible, singles must have an annual income of $125,000 or less, while couples must have a combined household income of $200,000 or less. For FHBG scheme, applications lodged from 1/07/2023, the annual income assessment is based on the financial year 2021-2022.

I’m a permanent resident, Am I eligible for FHBG scheme?

Yes, you will beeligble for the sheme. What a lucky duck you’re! Formally the scheme was only eligible for Australian citizens. However, from 01/07/2023, the scheme is open for Australian permanent residence too.

Off-the-Plan Concession

If you’re buying an off-the-plan land and building package, you may be entitled to a concession on stamp duty. Buyers will only pay duty on the value of the property and construction at the time of the contract date. As construction generally won’t have started or been completed when a contract is entered into, buyers won’t have to pay as much in stamp duty. Other eligibility criteria apply, such as being a permanent resident of Australia. To view all criteria and apply, visit the State Revenue Office website. There are a couple of other schemes available, please contact us for more information. The team at Unconditional Finance, your reliable Sydney’s mortgage broker, can provide more information on each of the grants, exemptions, and concessions outlined above, as well as discuss the eligibility criteria in further detail. We can also help you to apply for all of the schemes that you are eligible for, ensuring that your savings are maximized during your first home purchase.

First Home Buyer Grants Sydney

Are you aware of the backing available from both the federal and state government when you’re on the journey to purchase your first home? Gaining a clear understanding of which grants and incentives you’re entitled to is a crucial step you should take before embarking on your home ownership adventure. If you’re considering financing options, consulting with a refinancing mortgage broker can provide valuable insights tailored to your specific needs.

First Home Owner Grant (FHOG)

This one-off payment is only available if you buy a newly built home or if you build a brand-new home from scratch. The property can be a house, townhouse, apartment or unit – but it must be valued at $750,000 or less, and it must be new (never previously sold or occupied). The first homeowner’s grant is worth $10,000 for homes in Sydney and $20,000 for homes in regional Victoria.

Stamp Duty Exemption or Concession

This one-off home buyer duty exemption applies to homes valued at $600,000 or less (which is a massive saving of around $30,000). For homes valued between $600,001 and $750,000, a stamp duty concession applies instead (which is a discount on the land transfer duty you pay). To be eligible, the home must be a principal place of residence (PPR).

First Home Buyer Guarantee Scheme

Also known as the Pilot Shared Equity Scheme, the FHBG is designed for first-home buyers in Sydney buying an existing home (providing it’s a residential property). It allows buyers to secure a loan with as little as a 5% deposit without needing to pay Lenders Mortgage Insurance (LMI). What is this means to you? You save approximatley stagerring $20,000 in LMI. To be eligible, singles must have an annual income of $125,000 or less, while couples must have a combined household income of $200,000 or less. For FHBG scheme, applications lodged from 1/07/2023, the annual income assessment is based on the financial year 2021-2022.

I’m a permanent resident, Am I eligible for FHBG scheme?

Yes, you will beeligble for the sheme. What a lucky duck you’re! Formally the scheme was only eligible for Australian citizens. However, from 01/07/2023, the scheme is open for Australian permanent residence too.

Off-the-Plan Concession

If you’re buying an off-the-plan land and building package, you may be entitled to a concession on stamp duty. Buyers will only pay duty on the value of the property and construction at the time of the contract date. As construction generally won’t have started or been completed when a contract is entered into, buyers won’t have to pay as much in stamp duty. Other eligibility criteria apply, such as being a permanent resident of Australia. To view all criteria and apply, visit the State Revenue Office website. There are a couple of other schemes available, please contact us for more information. The team at Unconditional Finance, your reliable Sydney’s mortgage broker, can provide more information on each of the grants, exemptions, and concessions outlined above, as well as discuss the eligibility criteria in further detail. We can also help you to apply for all of the schemes that you are eligible for, ensuring that your savings are maximized during your first home purchase.

Ready To Buy Your First Home? Congratulations!

Unconditional Finance Is Here To Walk You Through The Process.

First Home Buyer Checklist

Considering the step towards homeownership in Sydney within the upcoming three months? Our indispensable checklist is tailored just for you:

Determine your budget. What is your maximum borrowing capacity, and what sort of price range should you be looking at properties in? How much can you afford in monthly repayments
Choose your suburb. Keep in mind that you’ll be living here for at least the next 5 to 10 years. If your ideal suburb is too highly priced, consider the surrounding suburbs – you’ll still be nearby.
Consider the property’s capital growth. Do you have any statistics or sales history for the area? Is your chosen mortgage broker able to provide you with this free service?
Consider bedroom and living space needs. How many bedrooms and living areas does a prospective property need to have? It might be nice to have two living areas, but you could get away with just one.

Decide whether to build or buy an established home. Also ensure that you understand the pros and cons of your choice (ie when building, you’ll have to wait months until you can move in).
If you’ve opted to buy off-the-plan, understand the pros and cons of this decision. Would this save you more money than buying an established home or contracting a custom builder
Understand your eligibility for first home buyer grants in Sydney. Be aware that different state governments have different requirements, so ensure that the information you have is relevant to Victoria.
When buying with a family member or friend, determine what each of your liabilities and responsibilities towards the mortgage will be. This is also a good idea if buying with a partner you are not married to.
Consult with a mortgage broker. Buying a home can be complicated, whether you’re doing it for the first time or the tenth time. Make an appointment with Unconditional Finance to discuss your options today.

Start Your First Home Buying Journey Today

With more than a decade of experience in the local property market, the team at Unconditional Finance is well-placed to help the journey go as smoothly as possible for first-home buyers in Sydney. Whether you want to learn more about the first homeowners grant or the various schemes available, or you’ve found your dream property and are ready to start looking at home loans, you’ve come to the right place.

Let Us Help You With The Right Finance Solution For You

In the world of Unconditional Finance, we embrace the fact that financial landscapes differ from person to person. This appreciation for diversity fuels our commitment to offering bespoke services. Be it a business or a home loan you seek, we’re here to walk the extra mile with you, hand in hand, until we pinpoint the loan that meshes seamlessly with your unique financial needs.

Ready To Buy Your First Home? Congratulations!

Unconditional Finance Is Here To Walk You Through The Process.

Our 3-step Process

No gimmicks or complex flowcharts. All of our clients go through a tried-and-true 3-step process that allows them to easily get approved for the loans they want in no time at all!

01

Apply Now

Enter your personal and property information to apply.

02

Get Approved

We will review your application in 2 business days.

03

Receive Funds

Funds can be transferred to your account in 3 days.

Here For All Your Loan And Refinancing Needs

Home Loans

Our team of seasoned mortgage brokers, nestled in the heart of Sydney, has an extensive repertoire of home loan offerings. Whether you’re dipping your toes in the property market for the first time, you’re an experienced investor, or a property mogul, we’ve got you covered. We roll up our sleeves to seek out the ideal home loan tailored to your unique needs. Our approach is simple – we pit various lenders against each other, ensuring you snag the best deal and nab a sweet rate.

Refinancing

Is a better deal within your grasp? It’s time to let our veteran mortgage brokers be your guide as you delve into the ocean of refinancing options. We’re with you every step of the way, from mapping out your options to crossing the finish line with your refinanced mortgage.

Refinancing a loan has its perks – it could lower your interest rate, bundle your debts into one loan, trim down your repayment period and fast-track your journey to a debt-free life. Trust us to help you unlock these benefits sooner than you thought possible!

Business Loans

Business/commercial loans fuel business growth, but can be complex. Top-tier mortgage brokers aid in understanding your needs, provide access to various loan products, simplify complex application processes, use negotiation skills to secure favorable terms, and offer ongoing support. Their expertise ensures you not just a loan, but the most suitable one for your business’s success.

Investment Loans

At Unconditional Finance, we’re your co-pilots, guiding you through the maze of investment property purchases. Our suite of investment loans is as diverse as your investment aspirations. Our seasoned property finance brokers are at your beck and call, ready to help you cherry-pick the right loan that aligns with your individual needs. With us by your side, even structuring your loan for tax purposes becomes a breeze, whether you’re a novice or an old hand expanding your investment portfolio.

Work With Award-Winning Mortgage Brokers

MFAA Endorsed

Basking in the glow of MFAA (Mortgage and Finance Association of Australia) approval, we stand tall as certified mortgage brokers right here in Sydney.

Fully Qualified

As Unconditional Finance's driving force and founder, Chris leverages his industry expertise and personal investment acumen. Aside from bagging numerous accolades, including recurrent Top 100 Broker mentions, Chris savours family time and sports when off-duty.

A Legacy Spanning Over Two Decades

We're proud of our rich tapestry of more than 20 years, throughout which we've aided countless clients in realising their financial dreams.

Award-Winning

Our mantle is laden with awards, as we've repeatedly been hailed as one of Sydney's top-tier mortgage brokers year after year.

Fully Licensed

Registered with ASIC and being fully licensed mortgage brokers, we're intimately acquainted with the industry's unique demands.

Centred On You

At Unconditional Finance, we place your aspirations and necessities at the heart of our operations. When you join hands with us, be assured your interests are our prime concern.