If you’re trying to buy your first home, you might be surprised by how much support is actually available. Between government schemes, grants amd concessions, most buyers have far more help than they realise.
Here’s the simple breakdown of what’s out there — and how these pieces can work together to help you get into the market sooner.
1. Home Guarantee Scheme (Buy with 5% deposit, no LMI)
The Home Guarantee Scheme is one of the biggest helpers for first-home buyers.
It lets you buy a home with:
- Just 5% deposit, and
- No Lenders Mortgage Insurance (LMI)
LMI can cost tens of thousands, so skipping it makes a huge difference. This scheme alone helps thousands of renters enter the market years sooner.
2. First Home Owner Grant (FHOG)
If you’re buying or building a brand-new home, you may be eligible for the First Home Owner Grant, which can help cover upfront costs or boost your deposit.
The grant varies by state but generally gives first-home buyers a solid financial boost when buying new.
For many buyers, combining the FHOG with the 5% deposit scheme is what makes buying possible.
3. Stamp duty concessions
Stamp duty is one of the biggest upfront costs when buying — but first-home buyers often get big reductions or pay no stamp duty at all, depending on the property price and state you’re buying in.
In many cases:
- Homes under certain price caps = no stamp duty
- Homes slightly above those caps = discounted stamp duty
This alone can save buyers $10k–$30k+, making your overall upfront cost much lower.
4. First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme lets you use your own voluntary super contributions (up to $50k) to help with your deposit.
Because super is taxed at a lower rate, this can help your savings grow faster than saving in a normal account.
It’s not early access to your whole super — just the voluntary contributions you put in for this purpose.
And it’s a powerful way to boost your deposit if you’re planning ahead.
5. Family guarantor support
If your parents can help, a family guarantor can use a portion of their home’s equity to support your loan.
This can help you:
- Buy with a smaller deposit
- Avoid LMI
- Get approved more easily
They don’t make repayments — they simply act as additional security for the bank until you’ve built enough equity to remove the guarantee.
6. The MWC $10k Deposit Boost™
On top of government help, we also offer our $10k Deposit Boost™ to support eligible first-home buyers.
It’s provided as a gift, not a loan and it's designed to help reduce your upfront costs and make it easier to meet lender deposit requirements — especially when paired with the FHOG or the 5% deposit scheme.
For many buyers, this is the final piece that closes the gap.
7. How we make it simple to get started
Most first-home buyers feel overwhelmed by the rules, deposits, and eligibility requirements — which is completely normal.
We make the process simple by helping you:
- Understand which schemes you qualify for
- Work out your deposit options
- Get a clear idea of what you can afford
- Build a step-by-step plan to get into the market
When you combine all the support available, getting into your first home is often much more achievable than you think.
