What is the First Home Owner Grant (FHOG) in NSW?

The NSW FHOG is a $10,000 grant for first home buyers purchasing a new-build home valued up to $600,000, or buying land and building up to $750,000. You must be 18+, an Australian citizen or permanent resident, and, for contracts from 1 July 2023, move in within 12 months and live there for at least 12 continuous months.

What is FHBAS (First Home Buyers Assistance Scheme)?

FHBAS is a NSW stamp duty concession for first home buyers. Full exemption on homes up to $800,000, concessional rate on homes between $800,000 and $1,000,000. Vacant land: full exemption up to $350,000, concession to $450,000.

How does the 5% Deposit Scheme work?

The 5% Deposit Scheme lets eligible first home buyers purchase with as little as 5% deposit without paying LMI (Lenders Mortgage Insurance). The federal government guarantees the balance. From 1 October 2025 the income caps were removed — eligibility now depends on being a first home buyer (or not having owned property in the past 10 years), being an Australian citizen or permanent resident, and the property being under the regional price cap (Sydney $1.5M in 2026, check latest).

Can I use multiple first home buyer schemes together?

Yes. Many first home buyers in NSW stack all three: FHOG ($10k grant on new build), FHBAS (stamp duty exemption), and the 5% Deposit Scheme (5% deposit, no LMI). We model every combination against your situation.

What deposit do I really need to buy my first home in Sydney?

Under the 5% Deposit Scheme, as little as 5% of the purchase price. With a family guarantor, potentially 0%. Without any scheme, typically 20% to avoid LMI — though 10% with LMI is very common. For a $900k home in Sydney, that's realistic deposits of $45k, $90k or $180k.

For first home buyers in Sydney & NSW

Your first Sydney home is closer than you think. A 5% deposit can be enough.

At Sydney prices, most first homes sit above the stamp duty exemption and the grant limits. What actually gets people in sooner is the deposit: the Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme), with a 5% deposit, no LMI and homes up to $1.5M, LMI waivers for professionals, and family guarantees.

This page walks you through the four lines lenders actually check, real 2026 deposit numbers for Sydney suburbs, and, if you’re buying under $800k or a new build, the grant and stamp duty rules too. In plain English.

Book a free chat Check your borrowing power

Reviewed by Jwala Aryal (Credit Representative 456382) · Last reviewed: 24 September 2026 · Official sources: Revenue NSW & Housing Australia — grants, duty and scheme details checked against current federal and state rules.

Have a quick question?

Tap the chat assistant at the bottom-right of the screen — ask about deposits, borrowing power, first-home buyer grants, refinancing or LMI, any time of day.

The stack — in plain English

Four lines. If you clear them, the schemes open up.

I’ve watched buyers wait years longer than they needed to because nobody walked them through these four lines in order. No quiz, no funnel — just the exact questions a lender will ask in the exact order they’ll ask them.

Have you (or your partner) owned property in Australia before?

Each scheme has its own ownership test, so owning property before doesn’t automatically rule you out of all of them. A share you inherited or a unit you once owned can count, so tell us about anything you or your partner have owned.

5% Deposit Scheme: first home buyers, or people who haven’t owned property in Australia in the past 10 years.
NSW First Home Owner Grant: you can’t have owned a home in Australia and lived in it for 6 continuous months or more since 1 July 2000 (or owned residential property before 1 July 2000). Owning an investment property you never lived in may not rule you out.
NSW stamp duty relief: generally for buyers who have never owned residential land in Australia.

If none of the schemes fit, a regular loan still does, and we’ll structure it just as carefully.

Will you live in the home yourself?

All three schemes are for homes you live in, but the move-in rules differ:

5% Deposit Scheme: move in within 6 months of settlement (or of the occupancy certificate for a new build) and keep living there while the guarantee is in place.
NSW First Home Owner Grant: move in within 12 months and live there for at least 12 continuous months (contracts from 1 July 2023).
NSW stamp duty relief: move in within 12 months and live there for at least 12 continuous months (contracts from 1 July 2023).

Planning to rent it out from day one? That’s an investment loan with a different structure. We do those too, just not under the first home schemes.

Is the price under the cap for your location?

Caps are the sharp edge of every scheme. In Sydney the Home Guarantee cap is $1.5M (metro). NSW stamp-duty exemption is full up to $800k, phased out by $1M. FHOG requires a new home under $600k (or a land-and-build package under $750k). One dollar over and the grant evaporates. This is where the right property at $799,999 beats the wrong one at $805,000.

Before you offer on anything, I’ll show you the exact caps for the schemes you clear — so you negotiate with the thresholds in your back pocket.

Is your deposit at least 5%, and saved for 3+ months?

5% Deposit Scheme only needs 5% deposit, no LMI. But lenders want to see “genuine savings” — typically 5% of the property price sitting in your account for at least 3 months. Gifted money, parents, FHSSS withdrawals all count differently. Since 1 October 2025 the 5% scheme has no income cap, so it’s now about deposit and property price, not what you earn.

If your deposit is light, we look at guarantor loans or structure a different pathway — not every solution requires the schemes.

Clear all four lines? You’re likely stacking $40k–$65k in grants, exemptions and LMI savings.

The exact number depends on your state, your price point, and whether you’re buying new or established. I’ll tell you the dollar figure on one free call — no obligation, no sign-up, no pitch.

Book a free chat → Or start fact-find online

Australia-wide

Grants, stamp duty, suburbs — state by state.

A quick map of what first home buyers get across the country — plus the suburbs in each state where buyers (including a strong Nepali-Australian community) most often land. Click any state for grants, stamp-duty thresholds, 5% scheme caps and a curated suburb list with medians.

A note on accuracy. State grants and stamp-duty rules on this page were last checked against each state revenue office on 28 September 2026; scheme price caps and suburb medians reflect what I knew as of May 2026. Government schemes, lender policies and property markets change — and occasionally a figure will have shifted by the time you read it. Always confirm current rules with Revenue NSW (or your state revenue office), Housing Australia and the lender directly before relying on a number. Spot something out of date or wrong? Tell me — I’ll fix it.

First-home-buyer suburbs we work across, Australia-wide

Established and growth-corridor suburbs where first home buyers — including a strong Nepali-Australian community in many of these areas — most often settle. Click any state above for medians, scheme stack and notes per suburb.

NSW · Sydney

Rooty Hill 2766 · Mt Druitt 2770 · Blacktown 2148 · Auburn 2144 · Quakers Hill 2763 · Schofields 2762 · The Ponds 2769 · Riverstone 2765 · Box Hill 2765 · Marsden Park 2765 · Kings Langley 2147 · Westmead 2145 · Harris Park 2150 · Parramatta 2150 · Minto 2566 · Edmondson Park 2174 · Bardia 2565 · Austral 2179 · Leppington 2179

VIC · Melbourne

Tarneit 3029 · Truganina 3029 · Werribee 3030 · Hoppers Crossing 3029 · Point Cook 3030 · Wyndham Vale 3024 · Manor Lakes 3024 · Roxburgh Park 3064 · Craigieburn 3064 · Mickleham 3064 · Mernda 3754 · Doreen 3754 · Cranbourne East 3977 · Officer 3809 · Clyde North 3978

QLD · Brisbane & Logan

Calamvale 4116 · Sunnybank 4109 · Sunnybank Hills 4109 · Algester 4115 · Forest Lake 4078 · Drewvale 4116 · Springwood 4127 · Daisy Hill 4127 · Rochedale South 4123 · Browns Plains 4118

WA · Perth

Canning Vale 6155 · Thornlie 6108 · Riverton 6148 · Madeley 6065 · Harrisdale 6112 · Piara Waters 6112 · Wellard 6170 · Baldivis 6171 · Forrestdale 6112

SA · Adelaide

Salisbury 5108 · Mawson Lakes 5095 · Para Hills 5096 · Andrews Farm 5114 · Munno Para 5115 · Smithfield 5114 · Davoren Park 5113 · Munno Para West 5115 · Burton 5110

ACT · Canberra

Harrison 2914 · Casey 2913 · Crace 2911 · Franklin 2913 · Bonner 2914 · Amaroo 2914 · Moncrieff 2914 · Taylor 2913 · Ngunnawal 2913 · Throsby 2914 · Wright 2611

TAS · Hobart

Glenorchy 7010 · Moonah 7009 · Bridgewater 7030 · Brighton 7030 · Berriedale 7011 · Claremont 7011 · Sorell 7172

NT · Darwin

Palmerston 0830 · Bakewell 0832 · Gunn 0832 · Coconut Grove 0810 · Karama 0813 · Zuccoli 0832 · Berrimah 0828

Don’t see your area? I write loans across Australia — the lender does the property valuation, not the postcode. Book a free chat →

The honest numbers

What deposit do you actually need across Sydney?

Based on current median house prices as at May 2026. Three realistic deposit paths: 5% under the 5% Deposit Scheme, 10% with LMI, and the classic 20% no-LMI benchmark.

Read the full guide: how much deposit do you really need? →

Suburb · 2026 median

5% · scheme

10% · w/ LMI

20% · no LMI

Blacktown$920,000

$46,000

$92,000

$184,000

Parramatta$1,150,000

$57,500

$115,000

$230,000

Kellyville$1,380,000

$69,000

$138,000

$276,000

Castle Hill$1,720,000

5% scheme cap

$172,000

$344,000

Liverpool$850,000

$42,500

$85,000

$170,000

Penrith$780,000

$39,000

$78,000

$156,000

Campbelltown$720,000

$36,000

$72,000

$144,000

Rockdale$1,550,000

5% scheme cap

$155,000

$310,000

Worked example: a $1.1M first home in Sydney

With the 5% Deposit Scheme you’d need a $55,000 deposit instead of $220,000 (20%) to avoid LMI. Stamp duty at that price is about $43,687 in NSW, because the first home concession stops at $1M. That’s roughly $98,700 upfront, compared with about $263,700 saving a full 20%, and a loan of $1,045,000.

Indicative only. Scheme eligibility, lender policy and your borrowing power apply, and legal and other purchase costs come on top. Duty based on the NSW 2026–27 rates.

Updated for 2026: The 5% Deposit Scheme now has no income cap (removed 1 October 2025) and the Sydney property price cap was lifted to $1.5M — which brings Parramatta, Kellyville, Liverpool, Penrith, Campbelltown and Blacktown back into 5%-deposit territory for first home buyers.

5% scheme cap = 5% Deposit Scheme property price caps apply. Sydney cap is $1.5M in 2026. Suburbs where the median exceeds the cap (e.g. Castle Hill, Rockdale) are still accessible to first home buyers — just not via the 5% deposit route. A guarantor loan often solves this; so does saving a traditional 10–20%. I’ll map it for you.

The three schemes that matter

Plain English. Zero finance-bro.

NSW / state grant

First Home Owner Grant (FHOG)

A one-off $10,000 grant from the NSW government for first home buyers who are building or buying brand new. Not applicable to established homes.

Who qualifies

18 or over, Australian citizen or permanent resident
Haven’t owned a home in Australia and lived in it for 6+ months since 1 July 2000
Buying new: up to $600,000 for a home, or $750,000 for land + build contract
Move in within 12 months and live there for at least 12 continuous months (contracts from 1 July 2023). NSW grant explained

Typical saving: $10,000 paid directly into your settlement, reducing the cash you need to bring.

NSW / stamp duty

First Home Buyers Assistance Scheme (FHBAS)

A stamp-duty exemption or concession — in most cases the single biggest scheme saving. Works on new or established homes.

Who qualifies

First home buyer (never owned Australian property)
Australian citizen or permanent resident (one applicant is enough)
Moving in within 12 months and living there for at least 12 continuous months

What you save

Full exemption on homes up to $800,000
Concessional rate on homes $800,000 – $1,000,000
Vacant land: full exemption up to $350,000, concession to $450,000

Typical saving: $30,187 on an $800,000 home in NSW (2026–27 rates). NSW stamp duty calculator and rates →

Federal / 5% deposit

5% Deposit Scheme

The federal government guarantees up to 15% of your loan, letting you buy with just a 5% deposit without paying LMI. LMI normally costs $15,000 – $30,000 on a sub-20%-deposit loan.

Who qualifies

First home buyer or haven’t owned property in the past 10 years
Australian citizen or permanent resident (includes eligible NZ citizens)
No income cap since 1 October 2025 — that rule is gone
Price cap (Sydney): $1,500,000 in 2026 (check latest limits)
Must be owner-occupier

Typical saving: ~$22,000 in LMI avoided, plus you buy 3–4 years earlier than traditional saving would allow.

Stack them.

In NSW, a first home buyer purchasing a new build under $600k can claim FHOG ($10k), full FHBAS stamp-duty exemption (~$21k on $600k), AND use the 5% Deposit Scheme (5% deposit, ~$15k LMI saved). That’s around $47,000 in combined benefits on the right deal.

Answered plainly

Questions every first-timer asks me.

I’ve never bought anything bigger than a car. Will I understand any of this?

Yes. My job is to make you feel like you could explain this to a friend after our first call. No jargon, no rushing, no "trust me". If something doesn’t make sense, we slow down.

Do I pay you anything?

No. Brokers in Australia are paid by the lender on settlement — around 0.65% upfront, 0.15% trail per year. You never get a bill from me. The commission structure is disclosed in writing before you commit to anything.

What if my parents want to help with the deposit?

Very common. Two options: a gifted deposit (cash into your account, with a signed letter) or a guarantor loan using their property as security for part of yours. Guarantor loans can get you to 100% with no LMI. We’ll structure it so parents are only exposed to the portion actually guaranteed.

I’m on a casual or new-job contract. Do I have any chance?

Yes, more than you think. Most lenders want 6 months in a role; some accept 3. Casual and contract income is accepted by specific lenders at different shade rates. I’ll tell you exactly who to apply with — and who to avoid.

How long from first call to keys?

Typical FHB timeline: free obligation-free call → pre-approval (lender assessment times vary; we’ll tell you what to expect) → find property (most clients: 4–12 weeks) → unconditional approval 5–10 business days → settlement 6 weeks standard NSW contract. Realistically, first call to keys: ~3–4 months.

What if I don’t qualify for any of the schemes?

Plenty of first home buyers don’t — and still buy great homes. I’ll work out the most competitive standard loan across my 40+ lender panel. A 5% rate is worth more over 30 years than a one-off $10k grant, and that’s often the real game.

Free download

The First Home Buyer Checklist.

Every step to buy your first home in Australia — in the right order. Deposit & numbers, the grants you qualify for, pre-approval documents, house hunting, making an offer, and settlement.

✓ 6 simple steps, plain English
✓ Grants, schemes & no-LMI options
✓ The exact documents you'll need
✓ Print it & tick it off

Ready to move from scrolling to sitting-down?

Let’s work out what you actually qualify for.

A free, obligation-free call or in-person meet. No pressure, no sales pitch, no time limit. You’ll walk away with a clear read on your deposit, your borrowing power, your realistic price range, any grants you qualify for, and your next step.

Book your free call Start fact-find online Call 0433 543 224 WhatsApp

Buying outside NSW?

State-by-state first-home guides.

Victoria guide → Queensland guide → WA guide → SA guide →

Guides

First home buyer guides

Grants, deposits, schemes and stamp duty, explained in plain English. Comparing states? See stamp duty by state.

All guides on the blog →

Your first Sydney home is closer than you think. A 5% deposit can be enough.

Have a quick question?

Four lines. If you clear them, the schemes open up.

Grants, stamp duty, suburbs — state by state.

First-home-buyer suburbs we work across, Australia-wide

What deposit do you actually need across Sydney?

Plain English. Zero finance-bro.

First Home Owner Grant (FHOG)

Who qualifies

First Home Buyers Assistance Scheme (FHBAS)

Who qualifies

What you save

5% Deposit Scheme

Who qualifies

Stack them.

Questions every first-timer asks me.

I’ve never bought anything bigger than a car. Will I understand any of this?

Do I pay you anything?

What if my parents want to help with the deposit?

I’m on a casual or new-job contract. Do I have any chance?

How long from first call to keys?

What if I don’t qualify for any of the schemes?

The First Home Buyer Checklist.

Get the free checklist

Let’s work out what you actually qualify for.

State-by-state first-home guides.

First home buyer guides