First Home Buyer Mortgage Broker Australia
WRA Mortgage Brokers helps first home buyers across Australia into their first home — with the First Home Guarantee (5% deposit, no LMI), state grants and stamp-duty concessions, guarantor loans and fast pre-approval. Free assessment, zero upfront fees.
Frequently Asked Questions
What is the First Home Guarantee?
The First Home Guarantee is a federal government scheme that allows eligible first home buyers to purchase with as little as a 5% deposit without paying lenders mortgage insurance (LMI), because the government guarantees part of the loan. It is subject to property price caps and eligibility limits, and places are allocated each financial year.
What deposit do first home buyers need?
With the First Home Guarantee you can buy with a 5% deposit and no LMI. Outside the scheme, a 10–20% deposit is typical to avoid LMI, and some lenders accept 5% with LMI. A family guarantee can also help you buy with a smaller deposit and no LMI.
What grants and concessions are available?
The First Home Owner Grant (FHOG) is a one-off grant for eligible first home buyers building or buying a new home, and the amount varies by state. Each state also offers stamp-duty concessions or exemptions for eligible first buyers below set thresholds. WRA explains what applies in your state.
Should I get pre-approval before house hunting?
Yes. Pre-approval (conditional approval) shows you what you can borrow and signals to sellers and agents that you are a serious buyer. WRA arranges indicative pre-approval quickly — often within 24–48 hours — so you can bid or offer with confidence.
What is a guarantor loan?
A guarantor loan uses equity in a family member's property (usually a parent's home) as additional security, so you can buy with a small deposit and avoid LMI. It can be structured so the guarantee is limited and released once you have enough equity. WRA explains the structure and risks.
Can rental history count as genuine savings?
Some lenders will accept a demonstrated rental history (e.g. 12 months of on-time rent) as evidence of genuine savings, which can help borrowers who haven't saved a large deposit in cash. Lender policy varies, so WRA confirms which lenders accept this.
How much can I borrow?
Your borrowing capacity depends on your income, expenses, debts and deposit. WRA runs a free serviceability assessment using real lender calculators so you know your maximum price range before you start looking.
What is the typical first home buyer timeline?
Generally: save your deposit → get pre-approval → find a property and make an offer or bid → formal loan approval → conveyancer and contract → settlement. WRA guides you through each step so nothing is missed.
Information on this page is general in nature. Lender policies, eligibility criteria, rates and lending limits can change. WRA will confirm applicable lender requirements based on your individual circumstances before making any recommendation.
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WRA Mortgage Brokers — operated by We Are Available Pty Ltd. Based in Melbourne, servicing clients across Australia.