Oshy Finance
First home buyer loans, Sydney.
Your first home is exciting. The finance can feel like another language.
I explain the grants, schemes, lender rules and trade-offs before you commit. Then I keep the application moving.
Written by Joshua Khoury
Founder & Mortgage Broker · Credit Representative #578404
Updated 30 July 2026
What help is available for first home buyers in NSW?
First home buyers in NSW can combine several separate measures. The First Home Guarantee lets eligible buyers purchase with a 5% deposit without paying Lenders Mortgage Insurance, because the federal government guarantees part of the loan. Separately, NSW stamp duty is waived entirely on eligible first homes up to $800,000 and reduced on a sliding scale up to $1,000,000. Eligibility depends on citizenship or residency, income, property price and living in the home.
- Deposit possible
- 5% under the First Home Guarantee, with no LMI for eligible buyers
- NSW stamp duty
- Full exemption up to $800,000, concession up to $1,000,000
- Key condition
- You must move in and generally live there for at least 12 months
- Check your numbers
- NSW stamp duty and borrowing power calculators on this site
Last reviewed
What we help you with
01
Working out your actual borrowing power
Every lender calculates this differently based on their own criteria. We run your numbers across multiple lenders to find your genuine maximum, not an optimistic estimate that falls apart at application.
02
First Home Owner Grant NSW
A $10,000 grant available to eligible first home buyers purchasing or building a new home in NSW. We check your eligibility in our first conversation and manage the application alongside your loan.
03
First Home Guarantee
The Australian Government scheme that allows eligible first home buyers to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance. Places are limited each financial year.
04
Stamp duty concessions
First home buyers in NSW may be eligible for full or partial stamp duty exemptions depending on the purchase price. We explain exactly what you qualify for and factor it into your planning from day one.
05
Pre-approval
Getting pre-approved before you start inspecting properties means you know your budget, you can bid at auction with confidence, and you can move quickly when the right property comes up.
06
Application through to settlement
Once you've found your property, we handle everything, preparing your application, liaising with the lender, coordinating with your conveyancer, and keeping you updated at every stage.
The government schemes, what you need to know
The landscape of first home buyer support in NSW is genuinely useful but genuinely confusing. Here are the main schemes in play:
- First Home Guarantee, Buy with 5% deposit, no LMI, government backs the rest. Income caps apply ($125,000 individual, $200,000 couple). Property price caps apply in Sydney. Limited places per financial year.
- First Home Owner Grant, $10,000 cash grant for new homes only (newly built or off-the-plan). Not available for established properties.
- Stamp Duty Concessions, Full exemption on properties up to $800,000, partial concession up to $1,000,000 for first home buyers in NSW.
- First Home Super Saver Scheme, Withdraw up to $50,000 in voluntary super contributions (plus deemed earnings) for a home deposit.
Not sure where to start?
Get a quick assessment from Oshy. No commitment, no jargon, just an honest read on your situation.
A first home buyer couple in Inner West Sydney
The situation
Imagine a couple in their late 20s earning around $175,000 combined, with $80,000 saved, eyeing a 2-bedroom apartment in Concord near $850,000. They walk into their everyday bank and get told they can borrow $620,000, well short of what they need. It's the most common first-home-buyer story in Sydney.
The outcome
Here's how we'd approach it: run their numbers across multiple lenders, because HECS debt, casual or bonus income, and living expenses are all assessed very differently. Then check eligibility for the First Home Guarantee (5% deposit, no LMI) and any stamp duty concession. The aim is to land them with the lender that gives the strongest borrowing capacity and the right scheme, so they keep a healthy savings buffer instead of scraping in.
Why our lender panel matters for first home buyers
Not every lender treats first home buyers the same way. Some offer better serviceability assessments. Some have access to the First Home Guarantee. Some specialise in low-deposit lending. I compare a wide range of lenders to find the one that fits your specific situation, not just the cheapest headline rate.
Common questions
What happens after you book
1. Book your call
Tell us what you're trying to do — buy, refinance or invest. No commitment, no documents needed.
2. We get to know your situation
We listen, ask the right questions, and give you an honest picture of what's possible.
3. We sort the loan
We compare a wide range of lenders, recommend the best fit, and handle everything from application to settlement.
I help buyers and refinancers across Sydney
Local market notes, median prices and lender quirks for every suburb we cover.
Sydney districts
Western Sydney
Inner West
Lower North Shore
Northern Beaches
Sutherland Shire
Servicing all of Greater Sydney - book a call and we'll come to you, in person or by video.
Your first home, without the guesswork
Send an enquiry and Josh will personally review your deposit, borrowing position and any grants or schemes you may be eligible for.