Home Loan FAQ Knowledge Hub

NSW offers stamp duty exemptions for first-home buyers purchasing new or existing homes valued up to $800,000, and concessions on properties up to $1,000,000 under the First Home Buyer Assistance Scheme (FHBAS). Vacant land thresholds differ. Eligibility conditions apply.

NSW's First Home Buyers Assistance Scheme (FHBAS) provides a full stamp duty exemption for properties valued up to $800,000 and a concessional rate for properties between $800,001 and $999,999. However, median property prices in Malabar and Little Bay typically exceed $1 million, meaning most purchases in these suburbs do not qualify for stamp duty relief. First home buyers in these areas should explore alternative strategies such as the First Home Guarantee (5% deposit, no LMI, up to $900,000), the federal Help to Buy shared equity scheme, or family guarantor arrangements. A mortgage broker with local Eastern Suburbs expertise can assess your eligibility and identify the most suitable pathway.

Yes. First home buyers purchasing in Beaconsfield (postcode 2015) or Kingsford (postcode 2032) may be eligible for significant stamp duty relief under the NSW First Home Buyers Assistance Scheme (FHBAS). As of 2026, a full stamp duty exemption applies to properties valued up to $800,000, with a concessional (tapered) rate for properties between $800,001 and $1,000,000. Eligible buyers can also access the First Home Guarantee — allowing a 5% deposit with no Lenders Mortgage Insurance (LMI) on purchases up to $1.5 million — and the First Home Owner Grant (FHOG) of $10,000 for eligible new homes. Local Knowledge Finance can assess your eligibility for all available schemes and structure your loan to minimise upfront costs.

Yes. Following the October 2025 expansion of the Australian Government's First Home Guarantee scheme, eligible buyers in Clovelly and Queens Park can now purchase properties up to $1.5 million in Sydney with just a 5% deposit and no Lenders Mortgage Insurance (LMI). The scheme now has no income cap and unlimited places. Local Knowledge Finance can assess your eligibility, structure your application, and connect you with participating lenders from our 40+ lender panel — saving you potentially $20,000 to $40,000 in LMI costs.

Yes. Eligible NSW first home buyers purchasing a new home under $600,000 can simultaneously access the $10,000 First Home Owner Grant (FHOG), a full stamp duty exemption under the First Home Buyer Assistance Scheme (FHBAS), and the First Home Guarantee. Stacking these benefits can save tens of thousands of dollars. Contact Local Knowledge Finance to confirm your eligibility.

Yes. First home buyers in Maroubra and Bondi may be eligible for the federal First Home Guarantee, which allows eligible buyers to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). In NSW, the First Home Buyers Assistance Scheme (FHBAS) provides full stamp duty exemption on properties up to $800,000 and partial concessions up to $1,000,000. The First Home Owner Grant (FHOG) of $10,000 is also available for eligible new home purchases up to $600,000. Local Knowledge Finance can assess your eligibility across all available schemes and match you with the most suitable lender from our panel of 40+ lenders.

Yes. Through the federal Home Guarantee Scheme, eligible first home buyers can purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Local Knowledge Finance can assess your eligibility, help you apply for the NSW First Home Owner Grant ($10,000 for new homes), and identify lenders on our 40+ panel who participate in the scheme.

Yes. Local Knowledge Finance serves buyers and investors in Kensington, providing specialist guidance on the suburb's high-density apartment market, strata lending requirements, and LMI considerations. With access to 40+ lenders, Local Knowledge Finance can structure loans for professionals, investors, and first home buyers purchasing near UNSW and the surrounding hospital precinct.

Yes — eligible first home buyers in NSW can often combine multiple government incentives simultaneously. For example, you may be able to access the $10,000 First Home Owner Grant (for new homes under $600,000), the First Home Buyers Assistance Scheme stamp duty exemption (for homes under $800,000), and the federal First Home Guarantee (5% deposit, no LMI) at the same time. Local Knowledge Finance will assess your eligibility for all available schemes and help you stack benefits to minimise upfront costs.

Yes — in many cases these schemes are stackable. The federal First Home Guarantee (5% deposit, no LMI, property price cap of $1,500,000 in Sydney) can be combined with the NSW First Home Owner Grant ($10,000 for new homes under $600,000) and the First Home Buyers Assistance Scheme (stamp duty exemption for properties up to $800,000). Local Knowledge Finance will map out which combination maximises your savings based on your specific purchase price and property type.

Yes, in most cases these can be combined. The federal Help to Buy shared equity scheme (launched December 2025) and the NSW First Home Owner Grant ($10,000 for new homes under $600,000) are separate programs and can generally be used together. However, Help to Buy cannot be combined with the First Home Guarantee (5% Deposit Scheme). Local Knowledge Finance will assess your eligibility for all available schemes — including FHBAS stamp duty relief — and identify the optimal combination for your budget. Credit Representative 517980.

First home buyers in NSW may qualify for the First Home Buyers Assistance Scheme (FHBAS), which provides a full stamp duty exemption on properties valued up to $800,000 and a concessional rate on properties between $800,000 and $1,000,000. Given that median property prices in Randwick are approximately $3.71 million and in Clovelly around $5.3 million, most purchases in these suburbs will not qualify for FHBAS. However, buyers may still benefit from the First Home Guarantee Scheme, which allows eligible purchasers to enter the market with a 5% deposit without paying Lenders Mortgage Insurance (LMI). Local Knowledge Finance can assess your eligibility and structure your loan to minimise upfront costs.

Absolutely. Local Knowledge Finance guides first home buyers in Beaconsfield through all available NSW government incentives, including the First Home Owner Grant (FHOG), the First Home Guarantee (5% deposit scheme), and stamp duty concessions under the NSW First Home Buyer Assistance Scheme. Our brokers assess your eligibility and incorporate these savings into your overall borrowing strategy.

Yes. Local Knowledge Finance can guide eligible first home buyers through the Australian Government's Help to Buy scheme, which allows qualifying buyers to purchase with as little as a 2% deposit, with the government contributing up to 40% equity for new builds. Income and property price caps apply — contact us to assess your eligibility.

Under the NSW First Home Buyers Assistance Scheme (FHBAS), eligible first home buyers receive a full stamp duty exemption on properties valued up to $800,000, with concessional rates applying between $800,001 and $1,000,000. In the Eastern Suburbs, where median house prices often exceed $1 million, many first home buyers will pay full stamp duty — making it critical to factor this cost into your budget from the outset. However, the federal First Home Guarantee (formerly the First Home Loan Deposit Scheme) allows eligible buyers to purchase with as little as a 5% deposit and no LMI on properties up to $1,500,000 in Sydney. James Chee can help you navigate both state and federal schemes, calculate your total upfront costs including stamp duty, and identify the most suitable lender for your circumstances.

APRA's February 2026 debt-to-income (DTI) cap limits most residential loans to six times the borrower's gross annual income. For a first home buyer earning $90,000 per year, this means a maximum loan of $540,000 — which, combined with a 10% deposit, limits purchasing power to around $600,000. In Sydney, where even entry-level units in many suburbs exceed this threshold, the DTI cap is a significant constraint. However, non-bank lenders are not subject to APRA's DTI cap and may offer higher loan amounts for well-qualified borrowers. James Chee at Local Knowledge Finance can assess your full financial position, identify the most appropriate lender, and help you structure your application to maximise your approved loan amount within the current regulatory environment.

The NSW First Home Buyers Assistance Scheme (FHBAS) provides full stamp duty exemption for eligible first home buyers purchasing properties valued up to $800,000, and concessional rates for properties between $800,001 and $1,000,000. This applies to both new and existing homes. Combined with the $10,000 First Home Owner Grant (for new homes under $600,000), eligible buyers can save tens of thousands of dollars upfront. Local Knowledge Finance can guide you through the eligibility requirements and application process.

The NSW Shared Equity Home Buyer Helper allows eligible first-home buyers to purchase with as little as a 2% deposit. The NSW Government contributes up to 40% of the purchase price for new homes, or up to 30% for existing properties, in exchange for an equity stake in your home. This significantly reduces the loan amount you need to borrow and eliminates the need for Lenders Mortgage Insurance (LMI) in most cases. Income eligibility thresholds apply. Local Knowledge Finance can assess whether you qualify and help you combine the Shared Equity Helper with other first-home buyer grants for maximum benefit.

We bring clarity to every step. We help you understand your real borrowing power and the full costs, then guide you through every relevant grant and concession (FHOG, 5% Deposit Scheme, Family Home Guarantee). We handle lender negotiations and paperwork with regular, plain-English updates.

Absolutely. This is a key area of specialisation for us. We help single and divorced professional women secure finance with strategies to strengthen single-income borrowing capacity, navigate property settlements, and use programs like the Family Home Guarantee.