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What We Do for First Home Buyers in WA

The Finance Agency helps first home buyers in Perth and across Western Australia navigate every stage of the loan process — from understanding your borrowing capacity before you start looking, to getting your loan across the line with the right lender for your situation.

We work with first home buyers who are:

• Employees with stable income looking for their first owner-occupier home
• Self-employed or business owners buying their first property
• Buyers eligible for the First Home Owner Grant (FHOG) of $10,000
• Buyers accessing the First Home Guarantee (5% deposit, no LMI) or the WA stamp duty concession
• Buyers in regional WA where the FHOG is $10,000 and eligibility rules differ

Our 93% success rate on complex applications reflects a simple discipline: we assess your deal before we approach a lender, so you don’t waste time on applications that won’t succeed.

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First Home Owner Grant WA — What You Get

The First Home Owner Grant (FHOG) is a one-off WA government payment of $10,000 for eligible first home buyers who build or purchase a newly built home.

FHOG Eligibility — WA 2025–2026

The $10,000 is paid at settlement (for off-the-plan purchases) or at first progress payment (for construction loans). Your lender handles the application in most cases.

Stamp Duty Concession — First Home Buyers WA

First home buyers in WA may qualify for a stamp duty (transfer duty) concession on established homes:

• Full exemption on homes valued up to $430,000
• Partial concession on homes valued $430,001–$530,000
• Applies to both established homes and vacant land (different thresholds for land)
• Does not require the property to be new

This is separate from the FHOG. You can qualify for the stamp duty concession without qualifying for the FHOG, and vice versa.

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First Home Guarantee — 5% Deposit, No LMI

The First Home Guarantee (formerly First Home Loan Deposit Scheme) is a Federal Government program that allows eligible first home buyers to purchase with a 5% deposit without paying Lenders Mortgage Insurance (LMI).

LMI typically costs $10,000–$30,000+ on a 5–10% deposit loan. The guarantee eliminates this cost entirely.

2025–2026 eligibility:

• Australian citizens or permanent residents aged 18+
• Income cap: $125,000/year (individuals) or $200,000/year (couples)
• Must be buying an owner-occupier property as your principal place of residence
• Property price caps apply — Perth cap is $600,000 for 2025–2026
• 35,000 guarantees available nationally each financial year (limited — apply early)

We can assess your eligibility and submit through participating lenders who offer this scheme.

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What We Actually Do for You — Step by Step

Step 1: Pre-Approval and Borrowing Capacity

Before you look at a single property, we run a full assessment of your borrowing capacity. This tells you exactly what you can spend, what deposit you need, and which lenders will look favourably at your situation. Real numbers, not estimates.

Step 2: Grant and Scheme Assessment

We assess your eligibility for the FHOG, First Home Guarantee, Family Home Guarantee, stamp duty concessions, and any regional bonuses. We do this upfront so you know what cash you’ll receive and when.

Step 3: Lender Selection and Application

We select the right lender for your deal — not the one with the best advertising. Different lenders treat first home buyers differently: some are aggressive on LVR, some are better for self-employed income, some move faster. We know the difference.

Step 4: Settlement and Beyond

We stay on the deal through to settlement. If conditions change (property price, construction delays, income change), we adapt. First home purchases rarely go perfectly — we manage the exceptions.

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How The Finance Agency Approaches First Home Buyer Loans

We assess before we submit. Your credit file is checked once, with the right lender, rather than multiple times across multiple banks. Multiple credit enquiries damage your credit score and signal instability to lenders.

We’re lender-agnostic. We’re MFAA-accredited brokers with access to 30+ lenders. We pick the lender whose policies match your situation — not the one who pays the highest commission.

We’ve done this at scale. Hanif Ibrahim has 15 years of WA finance experience and $500M+ settled. First home buyer loans are part of every broker’s book — we’ve seen every variation of income structure, deposit source, and property type.

We explain everything. First home buyers have questions. Our job is to make sure you understand exactly what you’re signing, what the risks are, and what happens if things change.

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Frequently Asked Questions

Can I use my superannuation as a deposit for my first home in WA?

Yes — under the First Home Super Saver Scheme (FHSSS), you can release voluntary super contributions (made since July 1, 2017) to use as a home deposit. Maximum release is $50,000 ($15,000/year cap). The contributions must be voluntary (salary sacrifice or personal contributions), not employer compulsory contributions. This is a Federal scheme — we can help you understand how it affects your overall deposit and borrowing position.

Do I need a 20% deposit to buy in Perth?

No. Through the First Home Guarantee, you can buy with a 5% deposit and avoid LMI entirely. Outside this scheme, most lenders accept 10–20% deposits with LMI, or 5–10% at some lenders with higher LMI costs. We’ll show you the real cost of different deposit amounts so you can make an informed call.

Can I buy an established home and still get the FHOG?

No — the WA First Home Owner Grant applies only to newly built homes or properties where a new home is being substantially renovated (subject to strict criteria). For established homes, the stamp duty concession applies instead (for homes under $530,000). We can help you understand which grants apply to the specific property you’re looking at.

How long does first home buyer pre-approval take?

Most lenders provide a conditional pre-approval decision in 3–5 business days when documentation is complete. Some lenders (particularly for complex income situations) take 7–10 days. We front-load the documentation process so you’re ready to move quickly when you find the right property.

What’s the difference between pre-approval and full approval?

Pre-approval (also called conditional approval or approval in principle) confirms the lender is satisfied with your income and financial position, subject to a satisfactory property valuation. Full approval confirms both your finances and the specific property. Pre-approval is not a guarantee — it’s a strong indication. We can explain what conditions apply to your specific pre-approval.

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Ready to Start?

Book a free, no-obligation consultation with our team. We’ll assess your borrowing capacity, identify the grants and schemes you qualify for, and give you a clear picture of what buying your first Perth home actually looks like.

Book a Free Consultation

The Finance Agency — Perth’s mortgage brokers for first home buyers, professionals, and complex deals.

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*The Finance Agency