Eternity Group

Finance & mortgage — First home buyers

First Home Buyer Home Loans

First home buyer home loans arranged by a Credit Representative working alongside a Chartered Accountant — deposit and LMI, government grants and schemes, pre-approval and lender policy, explained in plain English. Eligibility depends on your circumstances and current government criteria.

Book a First Home Scoping CallSee Our Process
  • First Home Guarantee
  • FHOG
  • Stamp duty concessions
  • FHSS
  • Deposit & LMI
  • Pre-approval

Mr Rohan Manokaran (Credit Representative 565110) is authorised under Australian Credit Licence 561324 held by Loans Only Pty Ltd. Information on this page is general in nature and does not take into account your objectives, financial situation or needs. Credit eligibility, lender criteria, fees and charges apply.

What we cover

The four pieces of a first home purchase.

Buying a first home pulls together a deposit, a set of government schemes, lender policy and a purchase timeline. Each piece is explained in plain English, and the tax-relevant parts (like the First Home Super Saver scheme) are considered alongside your wider position. The points below are general only — your eligibility and the numbers depend on current rules and your circumstances.

Deposit, LMI & the 20% question

Genuine savings · LMI · family pledge

Where a deposit is below 20 percent of the purchase price, Lenders Mortgage Insurance generally applies, with a premium that varies by loan-to-value ratio, loan size and lender. Some buyers reduce or avoid LMI through a family-guarantee or pledge arrangement, where a family member offers additional security. We work through what counts as genuine savings, how LMI would apply to your loan-to-value ratio, and whether a guarantee structure is worth investigating — all general, and dependent on lender policy.

Government grants & schemes

FHOG · stamp duty · First Home Guarantee · FHSS

Depending on where you are buying, you may be able to investigate the First Home Owner Grant, state stamp-duty concessions or exemptions, the First Home Guarantee and the First Home Super Saver scheme. Each is described here in general terms only. Eligibility, caps and available places vary by state, income, property price and the current rules — and none is guaranteed. We help you understand which schemes are relevant and how they interact with your deposit and lender choice.

Borrowing capacity & lender policy

Serviceability · income shape · lender fit

Each lender assesses borrowing capacity using its own income rules, expense verification, liability treatment and serviceability buffer, so two lenders can reach quite different figures for the same applicant. We model your position against the most-likely lenders before any formal application. We do not promise an approval or a particular loan amount — that always depends on lender policy and your circumstances at the time you apply.

Pre-approval & the purchase timeline

Pre-approval · offer · settlement

Pre-approval gives you a realistic picture of what a lender is likely to lend before you start making offers, though it is conditional and subject to a satisfactory property valuation. From there the timeline runs through making an offer, full assessment, formal approval and settlement. We map out the sequence so you understand what happens at each stage and what the lender needs next.

Suited to

First home buyers we typically work with.

First-time buyers building a deposit

Buyers steadily saving towards a first purchase who want to understand how much deposit they realistically need, what counts as genuine savings, and how Lenders Mortgage Insurance would apply if the deposit is below 20 percent. We set honest expectations early so the savings plan and the lender choice line up.

Buyers using a government scheme

First home buyers wanting to investigate the First Home Owner Grant, a state stamp-duty concession, the First Home Guarantee or the First Home Super Saver scheme. We explain each in general terms and how they interact with your deposit and lender — eligibility always depends on current government criteria and your circumstances.

Buyers with family-guarantee support

Buyers whose parents or family may offer additional security through a guarantee or pledge arrangement to support the application. We explain, in general terms, how such structures are commonly used, what they ask of the guarantor, and that acceptance and conditions vary by lender.

Self-employed first home buyers

Sole traders, contractors and company directors buying a first home whose income reads off tax returns, BAS and business financials. Because the same practice prepares your tax work, the lender-required income picture stays consistent.

Self-employed home loans

How the engagement runs

From position review to settlement, written down.

A first home purchase runs in a predictable sequence. You always know what we are doing, what the lender needs next and where you are in the timeline.

Position review

We look at your deposit position, income shape and which government schemes might be relevant to your circumstances. This is a general review to set realistic expectations — scheme eligibility ultimately depends on current government criteria and your situation. You leave with a clear picture of where you stand.

Pre-approval & lender match

We model your borrowing position against the most-likely lenders for your shape and, where it makes sense, submit a formal pre-approval to a shortlisted lender. Pre-approval is conditional and subject to a satisfactory property valuation; lenders apply their own credit and policy assessment.

Offer, formal approval & settlement

Once you have found a property and made an offer, the application moves to full assessment — valuation, verification and final credit assessment leading to formal approval. We then coordinate loan documents with your solicitor or conveyancer through to settlement on the contract date.

Frequently asked questions

First home buyers — common questions.

There is no single figure. As a general guide, many lenders look for a deposit in the order of 20 percent of the purchase price to avoid Lenders Mortgage Insurance, with a smaller genuine-savings deposit often accepted where LMI applies. Where the deposit is below 20 percent, LMI is generally payable and the premium varies with the loan-to-value ratio, loan size and lender. Some buyers reduce or avoid LMI through a family-guarantee or pledge arrangement, or through a government scheme, but availability and conditions depend on the lender and your circumstances. Deposit requirements, acceptable deposit sources and LMI treatment vary by lender — we work through your position before any application.

First home buyer lending sits within the wider finance & mortgage side of the practice. Government grants, concessions and schemes are described here in general terms only; they are factual as a guide and current rules and eligibility should be confirmed against the relevant government criteria and your circumstances at the time you act. A full explanation of how we are paid is set out in our Credit Guide.

How we are paid

How we are paid: Eternity Mortgage Solutions typically receives commissions from the lender for loans arranged on your behalf. A full explanation of how we are paid, our lender panel and any potential conflicts of interest is provided in our Credit Guide and Credit Proposal Disclosure document, available on request before any loan application is submitted.

Related

Where this fits in the bigger picture

A first home purchase connects to pre-approval, the broader home-loan pathways, the self-employed route, the loan features that shape your repayments, and the way the One Roof engagement model brings your accountant and broker together.