5.0 from 12 Reviews
Buying your first home is one of the biggest financial decisions you will make. There is a lot to take in, from working out your first home buyer budget and understanding your borrowing capacity, to knowing which grants, concessions, and federal schemes you may be eligible for. At NMS Finance Solutions, we work with first home buyers across Australia to cut through the noise and focus on what actually matters: getting you into the right loan structure from day one.
Understanding Your Home Loan Options
First home buyers have access to a wider range of home loan options than most people realise. Beyond the standard variable and fixed rate products, there are government-backed schemes, shared equity arrangements, and low deposit pathways that can significantly change what is possible for you. A home loan is not one-size-fits-all, and the right structure depends on your income, savings, property type, and long-term goals.
When comparing loans, it pays to look beyond the headline interest rate. A variable interest rate gives you flexibility and access to features like an offset account and redraw, which can reduce the interest you pay over time. A fixed interest rate locks in your repayments for a set period, which can help with budgeting. Some first home buyers split their loan between fixed and variable to get a balance of both. NMS Finance Solutions will walk you through the trade-offs so you can make an informed decision.
Federal Schemes Available to First Home Buyers
The Australian Government 5% Deposit Scheme allows eligible first home buyers to purchase a property with as little as a 5% deposit, with no Lenders Mortgage Insurance (LMI) payable. Housing Australia guarantees the difference between your deposit and 20% of the property value. There are no income caps and no annual place limits under the current rules, which came into effect on 1 October 2025. Eligible single parents or legal guardians can purchase with a 2% deposit. Property price caps apply and vary by location, including $1,500,000 in Sydney, $1,000,000 in Brisbane, and $950,000 in Melbourne. Applications are made through a panel of 31 participating lenders and cannot be made directly to Housing Australia.
The Help to Buy scheme, operative from 5 December 2025, allows the Australian Government to contribute up to 40% of the purchase price of a new home and up to 30% for an existing home, in exchange for an equity stake. A minimum 2% deposit is required. Income limits apply: $100,000 for individuals and $160,000 for joint applicants or single parents. Help to Buy cannot be combined with the 5% Deposit Scheme, but can generally be used alongside applicable state grants and duty concessions.
The First Home Super Saver Scheme allows eligible buyers to make voluntary contributions into their superannuation and then withdraw those funds to use toward a home deposit. This can be a tax-effective way to build your deposit over time. NMS Finance Solutions can help you understand how this fits alongside your broader home loan application strategy.
State and Territory Grants and Stamp Duty Concessions
First home owner grants (FHOG) and stamp duty concessions vary significantly by state and territory, and the rules change regularly. Here is a current summary as at 2 July 2026.
In New South Wales, eligible first home buyers can access a $10,000 grant for new builds or substantially renovated homes up to $600,000, or land and build contracts up to $750,000. Full transfer duty exemption applies on properties up to $800,000, with a sliding concession up to $1,000,000.
In Victoria, the first home owner grant is $10,000 for new homes valued up to $750,000. Full stamp duty exemption applies on properties up to $600,000, with a sliding scale concession up to $750,000. An off-the-plan concession is also available for eligible strata or community title contracts signed on or before 31 October 2026.
In Queensland, the first home owner grant is $15,000 for new homes valued under $750,000 for contracts signed from 1 July 2026. On established homes, nil transfer duty applies up to $700,000, with a concession up to $800,000. On new builds, a full transfer duty concession applies with no price cap on residential land from 1 May 2025.
In South Australia, eligible first home buyers can access a $15,000 grant for new homes with no property price cap for eligible contracts entered into on or after 6 June 2024. Full stamp duty concession applies on new homes and vacant land with no price cap. A shared equity option is also available through HomeStart, where the South Australian Government and HomeStart contribute up to 25% of the purchase price, capped at $200,000.
In Western Australia, the first home owner grant is $10,000 for new homes, with a value cap of $750,000 south of the 26th parallel. The First Home Owner Rate provides full duty exemption on homes up to $430,000, phasing out to $530,000. For transactions from 21 March 2025, concessions apply up to $700,000 in the Perth Metropolitan and Peel regions.
In Tasmania, a $20,000 grant applies for new homes for eligible transactions from 1 July 2026, subject to assent. Buyers should seek advice from a licensed specialist before acting, as the Tasmanian legislation remains subject to change.
In the Australian Capital Territory, the First Home Owner Grant closed on 1 July 2019 and was replaced by the Home Buyer Concession Scheme. From 1 July 2026, eligible buyers are fully exempt from conveyance duty regardless of property value or household income, with all other eligibility requirements continuing to apply. The ACT Revenue Office website is currently being updated to reflect these changes.
In the Northern Territory, the HomeGrown Territory Grant of $50,000 is available for new homes on contracts signed by 30 September 2027. The Territory Home Owner Discount provides a reduction of up to $18,601 in stamp duty.
First Home Buyer Eligibility and What NMS Finance Solutions Does
First home buyer eligibility for grants, concessions, and federal schemes depends on a range of factors including residency status, prior property ownership, property type, purchase price, and how you intend to use the property. The rules differ across jurisdictions and change over time, which is why working with a broker who stays across the detail matters.
NMS Finance Solutions works with first home buyers to assess which schemes and loan structures are available based on your individual circumstances. We compare home loan options across our lender panel, help you understand the impact of your interest rate choice, and ensure your first home loan application is structured correctly from the outset. Whether you are considering a 5% deposit pathway, exploring low deposit options, or want to understand how an offset account or redraw facility could work for you, we are here to help you make a well-informed decision.
If you are thinking about investment loans down the track, getting the structure of your first home loan right now can also make a difference to your future borrowing capacity. NMS Finance Solutions takes a long-term view, not just a transactional one.
Step 1: Get in Touch
Reaching out is the first step toward your financial goals. You can contact us by phone, email, or through our online enquiry form. We make it easy to get the conversation started, no matter where you are in Australia.
Step 2: Initial Consultation
We take the time to sit down with you, either in person at our Rhodes office or virtually, to understand your situation. We listen to your goals, your concerns, and what you are hoping to achieve. This is your chance to ask questions and get a feel for how we work.
Step 3: Fact Finding and Assessment
Once we understand your goals, we gather the details we need to assess your financial position. This includes your income, expenses, assets, liabilities, and any other relevant information. We keep this process straightforward and stress-free.
Step 4: Research and Strategy
With a clear picture of your situation, we get to work. We research the market and compare products from a wide range of lenders to find options that suit your needs and budget. We do the legwork so you do not have to.
Step 5: Present Your Options
We present you with a clear and easy-to-understand summary of your best options. We walk you through the features, costs, and benefits of each, so you can make a confident and informed decision.
Step 6: Application and Approval
Once you have chosen the right product, we prepare and lodge your application on your behalf. We manage the process with the lender, keep you updated every step of the way, and work hard to secure a fast and smooth approval.
Step 7: Settlement and Beyond
After approval, we guide you through to settlement and make sure everything goes to plan. But our support does not stop there. We stay in touch to review your finance as your circumstances change, because we are here for the long term, not just the transaction.
I cannot speak highly enough of this incredible team. They went above and beyond my expectations every step of the way, and their professionalism, knowledge, and genuine commitment to achieving the best possible outcome were outstanding. The level of care, attention to detail, and expertise they provided made the entire experience exceptional. It is rare to find a team that combines such a high level of financial expertise with truly outstanding service. I am incredibly grateful for everything they have done and would not hesitate to recommend them to anyone looking for knowledgeable, trustworthy, and dedicated financial professionals. An absolutely exceptional team!
Ari Huffines
An extraordinary team of genuinely hard-working, diligent, and compassionate people. Their commitment to helping and supporting those they work with is exceptional, and it is clear that they will do everything humanly possible to achieve the best outcome for you. What stands out most is not only their professionalism and expertise, but the genuine care, persistence, and dedication they bring to their work. They go above and beyond, and their efforts do not go unnoticed. I cannot speak highly enough of this team. I have the utmost respect for the work they do and am deeply grateful for the support, commitment, and humanity they have shown. I would recommend them without hesitation and hold them in the highest regard.
David Huffines
A fast and clear communication with an outstanding result. I want to thank the entire NMS Finance team for Your outstanding service.
Bef Wolelo
⭐️⭐️⭐️⭐️⭐️ We had an incredible experience working with NMS Finance Solutions. They expertly secured a consolidation loan for us, making the process smooth and stress-free. Their professionalism, attention to detail, and dedication to finding the best solution for our needs were outstanding. We highly recommend NMS Finance Solutions to anyone looking for a reliable and effective broker. Thank you for your exceptional service!
Amy Koller
In most cases, mortgage brokers in Australia are paid a commission by the lender when a loan is settled. This means that in many situations, there is no direct cost to you for using our services. The commission structure is regulated in Australia, and brokers are required to act in your best interests under the Best Interests Duty legislation. At NMS Finance Solutions, we are transparent about how we are paid, and we will always disclose this information to you clearly before you proceed. In some circumstances, such as with certain commercial or specialist lending, a fee may apply. We will always discuss this with you upfront so there are no surprises. Our goal is to make sure you feel informed and confident every step of the way.
The documents required can vary depending on your employment type, the type of loan you are applying for, and the lender involved. Generally speaking, most lenders will ask for proof of identity, recent payslips or tax returns, bank statements, details of any existing debts or liabilities, and information about the property you are looking to purchase. If you are self-employed, you may need to provide additional documentation such as business financial statements or BAS statements. At NMS Finance Solutions, we will walk you through exactly what is needed for your specific situation so you are not left guessing. We help you prepare your application thoroughly, which can make the process smoother when it comes to dealing with the lender.
Choosing the right broker comes down to trust, communication, and genuine care for your outcome. At NMS Finance Solutions, we pride ourselves on being approachable and honest with every client we work with. We take the time to listen before we make any suggestions, and we make sure you understand your options clearly before you make any decisions. We work with clients across Australia and have experience across a wide range of lending situations, from straightforward home purchases to more complex commercial and investment scenarios. We are not here to rush you through a process. We are here to support you in making informed decisions that are right for your circumstances. If you would like to get a feel for how we work, we welcome you to reach out for an obligation-free conversation.
Having a less than perfect credit history does not automatically mean you cannot access finance. There are lenders in Australia who specialise in working with borrowers who have had credit issues such as defaults, late payments, or a previous bankruptcy. At NMS Finance Solutions, we take the time to understand your full financial picture before making any recommendations. We do not make assumptions, and we do not judge. Our role is to look at your current situation honestly and explore what options may be available to you. We want to be upfront with you about what is realistic, and we will always give you an honest assessment rather than tell you what you want to hear. If you are unsure where you stand, the best first step is to have a conversation with us.
The timeline for a home loan can vary depending on a number of factors, including the lender you are applying with, the complexity of your situation, and how quickly all required documents can be gathered. In general, once a complete application is submitted to a lender, formal approval can take anywhere from a few days to a few weeks. At NMS Finance Solutions, we work to keep things moving by staying in regular contact with lenders and keeping you updated along the way. We also help you prepare your application as thoroughly as possible from the start, which can reduce delays caused by missing information. We recommend reaching out to us as early as possible in your planning process so we have enough time to work through everything properly.
When you go directly to your bank, you are only seeing the products that particular bank offers. A mortgage broker like NMS Finance Solutions has access to a panel of lenders, which means we can look across multiple options on your behalf. This gives you a broader view of what may be available to you, rather than being limited to one institution's products. We also take the time to understand your personal circumstances before recommending any direction, which means the conversation is tailored to you. Banks are focused on their own products, whereas our focus is on finding a loan structure that suits your situation. We also handle much of the communication and administration involved, which saves you time and effort.
A finance and mortgage broker acts as the link between you and a wide range of lenders. Rather than you having to approach banks and lenders one by one, a broker does that work on your behalf. At NMS Finance Solutions, we take the time to understand your situation, your goals, and what you are looking to achieve. We then research suitable loan options from our panel of lenders and present you with choices that may suit your needs. We handle the paperwork, liaise with lenders, and keep you informed throughout the process. Our role is to make the experience as clear and straightforward as possible, whether you are buying your first home, refinancing, or looking at a commercial loan.
Absolutely. While NMS Finance Solutions is based in Rhodes, New South Wales, we work with clients right across Australia. Thanks to phone, email, and video calls, we can have meaningful conversations with you no matter where you are located. Whether you are in Melbourne, Brisbane, Perth, or a regional area, we are set up to assist you with your finance needs. Distance is not a barrier to getting quality support and guidance. We are committed to making sure every client, regardless of location, receives the same level of attention and care. If you are ready to get started or just want to have a chat about your options, reach out to us and we will take it from there.
NMS Finance Solutions assists clients with a broad range of lending needs. This includes home loans for owner-occupiers, investment property loans, refinancing of existing loans, construction loans, and loans for self-employed borrowers. We also assist with commercial finance, asset finance, and equipment finance for business owners. Whether you are purchasing your first property, looking to grow a property portfolio, or need funding for your business, we have the experience to help you explore your options. Every situation is different, so we always start with a conversation to understand what you are trying to achieve before we look at what lending options may be worth considering. No question is too small, and we welcome enquiries at any stage of your planning.
Refinancing means replacing your existing loan with a new one, either with your current lender or a different one. People refinance for a range of reasons, including accessing different loan features, consolidating debts, or adjusting their loan structure to better suit their current circumstances. It is not something that suits everyone, and there are costs involved in refinancing that need to be weighed up carefully. At NMS Finance Solutions, we can help you look at your current loan and compare it against what else may be available, so you can make an informed decision. We do not push refinancing as a solution unless it genuinely makes sense for your situation. If you are curious about whether refinancing could be worth exploring, we are happy to have that conversation with you.
NMS Finance Solutions works with first home buyers across Australia to find the right home loan options for their situation. Talk to Nat from NMS finance solutions at a time that suits you.
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