Monza Finance GroupMortgage & Finance Brokers
It's a big step, and the schemes can be confusing. We'll explain every one you may be eligible for in plain English, work out what you can borrow, and compare 40+ lenders to find a loan that fits.
No cost to you in most cases. We're paid by the lender when your loan settles.
Four schemes can make a real difference for first home buyers in South Australia. Some can be combined. We'll check which ones you're eligible for and handle the paperwork with your lender.
The government guarantees part of your loan, so you can buy sooner with a smaller deposit.
A one-off payment towards a new home that hasn't been lived in before.
Stamp duty is often the biggest upfront cost after your deposit. On the right property, first home buyers pay none.
Save for your deposit inside super, where voluntary contributions can be taxed less than your wages.
In South Australia, the type of home you buy decides which help you can get. It's one of the first things we work through with you.
| Scheme | New home, off the plan, or land to build on | Established home |
|---|---|---|
| First Home Guarantee (5% deposit, no LMI) | Yes, up to the price cap | Yes, up to the price cap |
| First Home Owner Grant | Yes, up to $15,000 | No |
| Stamp duty relief | Yes, full relief | No, full stamp duty applies |
| First Home Super Saver | Yes | Yes |
Looking at an established home? Work out the stamp duty with our stamp duty calculator, then talk to us about how to cover it.
You don't need to have everything figured out before you talk to us. Here's how it usually goes.
Knowing this early helps you get approved faster, and sometimes borrow more.
Many lenders look for a 20% deposit to avoid lenders mortgage insurance (LMI), but it isn't the only way in. Under the federal First Home Guarantee, eligible first home buyers can buy with as little as a 5% deposit and no LMI. The property price cap is $900,000 in Adelaide and $500,000 in the rest of South Australia.
Some lenders also accept a 5–10% deposit with LMI, or a family guarantee. We'll show you which route costs least for your situation.
On a new home, an off-the-plan home or vacant land to build on, eligible first home buyers get full stamp duty relief for contracts signed on or after 6 June 2024, whatever the property's value.
On an established (previously lived-in) home there's currently no first home buyer stamp duty relief in SA, so full stamp duty applies. That's why choosing between new and established makes such a difference here.
No. In South Australia the First Home Owner Grant of up to $15,000 is for buying or building a new home, buying off the plan, or buying a substantially renovated home. Established homes don't qualify.
Yes. With a family guarantee, a parent uses some of the equity in their own home as extra security for your loan. That can mean buying with little or no deposit and, with many lenders, avoiding LMI.
It's a big decision for them too, so we explain how it works and the risks to everyone involved before anything is signed.
It can. Lenders usually count your compulsory HECS-HELP repayments as an expense, which reduces your borrowing power. How much depends on your income and the lender, and some lenders treat it more favourably than others, so it's worth checking before you start house hunting.
In most cases there's no cost to you. We're paid a commission by the lender when your loan settles. If a fee ever applies, we'll tell you in writing before we go ahead.
Book a free, no-pressure chat. We'll tell you what you can borrow, which schemes you're eligible for and what your next steps are.
General information only. Not financial advice. It doesn't take into account your objectives, financial situation or needs. Speak to a licensed broker about your situation.
Scheme details are taken from Housing Australia, RevenueSA and the Australian Taxation Office and are current as at October 2026. Government schemes change and eligibility criteria apply. Lending criteria, fees and charges apply, and all loans are subject to lender approval.
Monza Finance Pty Ltd, ABN 21 617 504 186. Michael Barton is an Authorised Credit Representative (CRN 497244) of LMG Pty Ltd, Australian Credit Licence 390222.