Buy your first home with just a 5% Deposit (and skip the $15,000+ LMI bill)
The Australian Government's expanded First Home Guarantee means you can buy sooner than you think. I'll show you exactly how much you can borrow, which grants you qualify for, and how to get pre-approved.
You're Not Imagining It — Buying Has Never Felt Harder
House prices are up. Rents are brutal. And every time you check your savings account, that 20% deposit feels further away.
Here's what many people don't realise: you don't need 20% anymore.
Since October 2025, the Australian Government removed income caps and property price caps on the First Home Guarantee. That means you can buy with just 5% deposit and avoid Lenders Mortgage Insurance — which would normally cost you $10,000-$20,000.
Real example:
- Property price: $600,000
- Old requirement: $120,000 deposit (20%)
- New requirement: $30,000 deposit (5%)
- LMI you avoid: ~$17,000
That's the difference between buying in 2026 or waiting until 2030.
And depending on where you're buying in South Australia, you could also access:
- First Home Owner Grant: Up to $15,000 (SA) for new homes
- Stamp duty relief: Full exemption on homes under certain thresholds
- First Home Super Saver Scheme: Withdraw up to $50,000 from your super.
Combined, these could put $30,000-$50,000 towards your deposit that you didn't have to save yourself.
I'll show you exactly what you qualify for after one conversation.
This Is For You If...
✓ You're earning decent money but saving 20% feels impossible whilst paying rent
✓ You've got $30,000-$60,000 saved and you're ready to stop making your landlord richer
✓ You're sick of hearing "just save more" when rent takes 35% of your income
✓ You think you can't buy because you're self-employed, on contract, or don't have perfect credit
✓ You've been told you need to earn $150,000+ to buy in Adelaide (you don't)
✓ You're overwhelmed by all the grants, schemes, and conflicting information online
✓ You want someone to tell you the truth about what you can actually afford
If any of these sound familiar, book a free consultation to see how I can help.
How We Get You From "Thinking About It" to "Keys in Hand"
STEP 1: Initial Consultation
We talk about your income, savings, and goals. I calculate exactly how much you can borrow and which grants you qualify for. If buying doesn't make sense yet, I'll tell you what needs to change and when to try again.
You'll walk away knowing:
- Your maximum borrowing capacity
- How much deposit you actually need (usually less than you think)
- Which government schemes you're eligible for
- Your exact monthly repayments
- What lenders will say yes to your situation
STEP 2: Pre-Approval
I prepare your application, submit it to the best lender for your situation, and get you pre-approved. This gives you a firm budget and lets you make offers with confidence.
Why pre-approval matters:
- Sellers take you seriously
- You can bid at auctions
- You know your exact budget
- It locks in your borrowing capacity
- Most expire after 90 days, giving you time to find the right place.
STEP 3: House Hunting (Your Timeline)
You find the property you want. I'm available to run numbers on any place you're considering, or just be on the other end of the phone when you need advice.
I'll help you assess:
- Will the bank value it at the purchase price?
- Are there any lending red flags (location, property type, title issues)?
- Can you afford the repayments comfortably?
STEP 4: Formal Approval
Once you've found your property and your offer is accepted, I submit the formal loan application. I manage all paperwork, liaise with the lender, organise valuations, and keep you updated daily.
I handle:
- All loan documentation and paperwork
- Bank valuation arrangements
- Grant applications (FHOG, etc.)
- Lender queries and conditions
- Keeping everything on track for settlement.
STEP 5: Settlement (You Get the Keys!)
Your loan settles, you get the keys, and you move in. I'm still available after settlement for any questions, rate reviews, or when you're ready to refinance in a few years.
Average timeline start to finish: 6-8 weeks from pre-approval to settlement.
What This Looks Like in Real Life
SCENARIO 1: The Young Professionals
Ages: 28 & 29
Income: Combined $145,000 (one permanent, one contract)
Savings: $42,000
Location: McLaren Vale, SA
What they thought: "We need $140,000 for a 20% deposit on a $700,000 house"
Reality:
- Used First Home Guarantee (5% deposit = $35,000)
- Qualified for stamp duty relief (saved $28,000)
- Borrowed $665,000 at 6.2%
- Monthly repayment: $4,120
- Moved in within 8 weeks
They bought 4 years sooner than if they'd saved 20%.
SCENARIO 2: The Self-Employed Designer
Age: 32
Income: $95,000 (ABN, 2 years trading)
Savings: $48,000
Location: Adelaide inner suburbs
What they thought: "Banks won't lend to self-employed people."
Reality:
- Found a lender that specialises in self-employed borrowers
- Used 2 years of tax returns + BAS statements
- Purchased $550,000 apartment with 10% deposit
- Borrowed $495,000
- Monthly repayment: $3,095
- No parents' guarantee needed.
SCENARIO 3: The Career Switcher
Age: 35
Income:$88,000 (6 months in new role, previously $72,000)
Savings: $38,000
Location: Morphett Vale, SA
What they thought: "I need to be in my job for 12 months to qualify."
Reality:
- Used lender that accepts 3+ months in industry
- Purchased new home for $520,000
- Qualified for $15,000 First Home Owner Grant (new build)
- Used First Home Guarantee (5% deposit)
- Total out-of-pocket: $26,000 (deposit) + $8,000 (costs) = $34,000
- Monthly repayment: $3,020
They would have waited another 9+ months if they'd believed they needed 12 months employment.