First-home-buyer schemes & how to start the financial year right

27 June 2026 · Impact Home Loans

A happy couple receiving the keys to their first home

The start of a new financial year is a great time to get your first-home plans moving. Here's the help that's out there — and the steps that put you in the best position.

Government help for first home buyers

Depending on your situation, you may be eligible for support such as the First Home Guarantee (which can let eligible buyers purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance), Victorian stamp duty concessions or exemptions on lower-priced homes, and the First Home Owner Grant for newly built properties. Eligibility and amounts change over time, so it's worth checking what currently applies to you.

Know your real upfront costs

Your deposit is only part of the picture — stamp duty and government fees matter too. Our deposit & savings goal calculator adds it all up and shows how long it'll take to reach your target at your current savings rate.

Start-of-financial-year money moves

  • Review your budget. A fresh year is a natural reset — see what you can comfortably put towards a deposit.
  • Check your borrowing power. Know your realistic price range before you start looking.
  • Tidy your credit. Clear small debts and avoid unnecessary new ones in the months before you apply.
  • Set a savings target. A clear number and timeline keeps you on track.

Get pre-approval before you shop

Pre-approval tells you exactly what you can spend and lets you move quickly when the right place comes up. Visit our first home buyers guide for the full rundown, or get in touch and we'll map out your plan — at no cost.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal, nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

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Or put it into practice with our first home buyer guide and mortgage calculators.

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