Your first home in NSW, without the guesswork.
Grants, transfer-duty relief and the federal 5% Deposit Scheme can each help — but only if you fit the rules, and the caps move over time. We explain how the NSW supports actually stack, check where you sit, and match your file across 50 lenders.
Free · 2 minutes · no credit score impact
NSW first-home support at a glance
Three headline supports, and the eligibility ladder that decides whether you qualify. Every figure below is current at July 2026 and is subject to eligibility — thresholds and caps change.
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Rung 1
First-home buyer
Generally you (and your spouse/partner) haven't previously owned residential property in Australia. Prior ownership can rule you out.
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Rung 2
Owner-occupier
You move in and live there — typically within 12 months of settlement, and for a minimum period. These schemes aren't for investment purchases.
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Rung 3
Price under the cap
Each support has its own property-value cap ($600k FHOG, $800k–$1M duty relief, $1.5M First Home Guarantee in NSW). Over the cap, that support drops away.
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Rung 4
Deposit & genuine savings
For the First Home Guarantee, a 5% genuine-savings deposit (2% for single parents). Servicing the loan still has to work with a lender.
Figures current at July 2026 and subject to eligibility; grant amounts, duty thresholds and price caps are set by government and change. General information only — confirm your position with Revenue NSW, Housing Australia and your lender. Sources: Revenue NSW (First Home Owner (New Homes) Grant; First Home Buyers Assistance Scheme), Housing Australia (5% Deposit Scheme price caps from 1 October 2025).
Three supports, three different rulebooks.
They aren't one program — each has its own eligibility, its own cap, and its own definition of an eligible property. Some can apply to the same purchase; others can't.
First Home Owner (New Homes) Grant
A $10,000 grant for a first new home — newly built, off-the-plan or substantially renovated. Not for established homes. Not means-tested and not taxable. You may be eligible if the property is within the cap.
First Home Buyers Assistance Scheme
Full transfer (stamp) duty exemption on an eligible first home — new or existing — valued at $800,000 or less, then a reduced rate on values from $800,001 to $1,000,000. Vacant land has its own lower thresholds. Subject to eligibility.
First Home Guarantee (federal)
The Australian Government's 5% Deposit Scheme lets eligible first-home buyers purchase with a 5% deposit and no LMI. Since 1 October 2025 there are no income caps and no place limits, with a $1.5M NSW/Sydney price cap. You apply through a participating lender.
On a new home under $600,000 you may be eligible for the $10,000 grant and pay no transfer duty, and potentially use the 5% Deposit Scheme — but each is assessed on its own rules and none is automatic. Current at July 2026, subject to eligibility; thresholds change. Sources: Revenue NSW; Housing Australia.
A 5% deposit could remove LMI entirely — if you fit.
Since 1 October 2025 the Australian Government's 5% Deposit Scheme (First Home Guarantee) lets eligible first-home buyers purchase with a 5% deposit (2% for single parents) and no Lenders Mortgage Insurance — with no income caps and no limit on places. Eligibility depends on the property price staying under the cap for your area:
Capital-city caps shown; regional/rest-of-state caps differ. Source: Housing Australia / firsthomebuyers.gov.au, current at July 2026, subject to eligibility and to change. You apply through a participating lender — we'll tell you if you're likely eligible and which lenders take it. Not a guarantee of approval.
Different starting points, different lenders.
Your situation shapes which of the 50 lenders read your file favourably. Tell us where you are and we point the search accordingly.
Buying an existing home
Duty relief can still apply on established homes to $800k — we check the numbers and match lenders comfortable with a smaller deposit.
Building or buying new
New builds may unlock the $10,000 grant. Progress-drawdown construction and land-plus-build finance, mapped to the caps.
Small deposit
The 5% Deposit Scheme, low-deposit lenders and how LMI compares — so you can weigh the real cost.
Family can help
A guarantor can lift you over the deposit hurdle and may avoid LMI — we explain the structure and the risks.
Single parent
You may be able to buy with as little as a 2% deposit under the scheme, subject to eligibility.
Self-employed
Newer to business or with variable income? Specialist lenders assess the full picture.
50 lenders, one search.
Accredited through Connective, we compare across the majors, regionals, mutuals and non-bank specialists — then match your file to the ones that fit a first-home purchase, and tell you which take the First Home Guarantee.
Major banks
CBA, Westpac, NAB, ANZ — sharp pricing for clean, lower-LVR profiles, and many participate in the scheme.
Regional & online
Macquarie, ING, Bankwest and digital lenders — often flexible on low-deposit first-home lending.
Specialist
Liberty, Pepper and similar — for self-employed, thin-file or complex-income first-home buyers.
What a grant won't cover.
Support helps with the deposit and duty — but there are costs the schemes don't touch. Budgeting for them up front is the difference between a smooth settlement and a nasty surprise.
Upfront costs
Conveyancing, building and pest inspections, lenders' fees and moving costs — typically a few thousand dollars, not covered by grants.
The buffer test
Lenders assess you at your rate plus an APRA serviceability buffer (currently 3%), not the headline rate — so your true borrowing power is lower than a simple rate suggests.
Rates move
The RBA cash rate is 4.35% (held, June 2026). Variable repayments move with it; build in room for changes. Any rate we discuss is indicative, dated, and quoted with its comparison rate.
Ongoing ownership
Council rates, strata (for units), insurance and maintenance are yours from day one — separate from the mortgage.
Rates and figures are indicative and current at the dates shown; they change and move with the RBA cash rate. Any specific rate would be provided with its comparison rate. General information only, not personal financial or tax advice.
NSW first home buyer FAQs.
Can I get the NSW First Home Owner Grant for an existing home?
No. The $10,000 First Home Owner (New Homes) Grant applies only to new homes — newly built, purchased off the plan, or substantially renovated — not established homes, and the property must be within the price cap ($600,000 if built, or $750,000 combined for land-plus-build). Transfer (stamp) duty relief under the First Home Buyers Assistance Scheme can, however, apply to existing homes. Eligibility is assessed by Revenue NSW and these amounts and caps can change.
How much transfer (stamp) duty relief could I get in NSW?
Under the First Home Buyers Assistance Scheme, an eligible first home valued at $800,000 or less may attract a full transfer-duty exemption, and a reduced (concessional) rate applies from $800,001 to $1,000,000. Vacant land has lower thresholds ($350,000 for full exemption, concession to $450,000). Whether you qualify and how much you'd save depends on your circumstances and the property — this is general information, not a promise, and the thresholds are set by government and can change.
Do I still need a 20% deposit?
Not necessarily. Under the federal First Home Guarantee (the 5% Deposit Scheme), eligible first-home buyers may purchase with a 5% deposit — 2% for single parents — and no Lenders Mortgage Insurance, provided the property is under the price cap for your area. Places and income caps were removed from 1 October 2025. Eligibility and the caps are subject to change, and you still need to service the loan with a lender.
What's the NSW price cap for the First Home Guarantee?
For Sydney and NSW the price cap is $1,500,000, in effect from 1 October 2025. Regional and rest-of-state caps differ. Caps are set by Housing Australia and can change, so always confirm the current figure for your area before you commit. This is general information, not personal advice.
Can the grant and duty relief apply to the same purchase?
They can, on an eligible new home. For example, a new home under $600,000 may qualify for the $10,000 First Home Owner (New Homes) Grant and a full transfer-duty exemption, and potentially the 5% Deposit Scheme too. Each is assessed separately against its own rules, so none is automatic — we help you check where you actually stand. Subject to eligibility; thresholds change.
Is this financial or tax advice?
No. This page is general information about NSW and federal first-home supports, current at July 2026. It doesn't take your personal circumstances into account and isn't personal financial, credit or tax advice. Grant and scheme rules are set by government and change — confirm your eligibility with Revenue NSW, Housing Australia and your lender before acting.
See where you stand as a NSW first home buyer.
Two minutes tells us your deposit, price range and situation — then we show which supports you may be eligible for and which of 50 lenders fit.
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