First home buyer

Get a great home loan, the first time

Tiimely Home can help you find your first home loan, with low-cost options and expert service.

Home loan features

Features to fit you

Home loans come in all shapes and sizes, so figuring out which type of loan best suits your needs can help you narrow down your search.

Pre-approval

Shop with confidence

Unlike other lenders, Tiimely Home’s pre-approval gives you confidence in your borrowing power, because we verify your finances before you even find a property. And since we’ve done the finance assessment upfront, you can get full approval faster.​

Borrowing power

Get to know your borrowing power

Understand how much you can borrow by getting an estimate before you go house hunting.

Things to consider

Check your comparison rate

A comparison rate factors in both the interest rate and most fees associated with the loan to help you compare different loans side-by-side. A really high comparison rate means the loan will be more expensive than just the headline rate, and is a good prompt to look for any hidden fees.

First home loan deposit scheme

The First Home Loan Deposit Scheme is an Australian Government initiative that guarantees up to 15% of your property's value - meaning you could get a home sooner with as little as 5% deposit.

first home buyer

Shalini, Tiimely Home Team

Local experts

Talk to a local home loan expert

We pride ourselves on our service. 90% of customer calls are answered within 20 seconds by our Australian-based team.

TIIMELY OWN

Home loan features for your first home

Just some of the reasons a Tiimely Own home loan could be the right fit for you.

Variable

Tiimely own

Owner-occupied Principal & interest


5.94%p.a.Interest rate

5.95%p.a.Comparison rate



Backed and funded by Bendigo and Adelaide Bank

  • Secure, bank-backed offset

    We’ve partnered with one of Australia’s biggest banks to give you a 100% offset account that’s government-guaranteed.

  • Unlimited extra repayments

    Get unlimited extra repayments for variable loans and up to $20,000 per year for fixed home loans.

  • No hidden fees

    Our fees are simple and transparent, so you'll always know what to expect. $0 Upfront fees, $0 Monthly Fees (excludes offset), $0 Application Fee, $0 Annual Fees.

  • Fixed-rate with offset

    Unlike most other lenders, we offer a 100% offset account for both our fixed and variable home loans so you can save on interest.

  • Free redraws

    Make extra payments on your loan and reduce your interest, then easily access funds at a later date if you need cash.

  • Same low rate with a 10% deposit

    With Lenders' Mortgage Insurance (LMI), you can borrow up to 90% and get the same rate, no matter your LVR.

IN-HOUSE BROKER SERVICE

Guarantor, construction or split loan? We can help you find more options

Our in-house brokers provide loans from major banks and can support complex situations and loan features such as split loans, guarantor loans and construction loans.

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Have a question about buying your first home?

What is the First Home Owner Grant?

The First Home Owner Grant is a national first home buyer scheme designed to help Australians buying their first property. Each state and territory have their own eligibility criteria, but in general you’ll need to be over the age of 18, a permanent resident or Australian citizen, and you can’t have previously owned a residential property anywhere in Australia.

Below is a state-by-state breakdown (updated Nov 2023)

Victoria

  • Up to $10,000 for eligible home buyers
  • Available for new properties up to the value of $750,000
  • Land transfer (stamp) duty exemption or concession for eligible home buyers
  • You’ll need to live in the property for 12 months after purchasing
  • You must be at least 18 years old
  • At least one applicant must be a permanent resident or an Australian citizen
  • You can’t have owned a home prior to 1st July 2000
  • You can’t have lived in a home that you owned after 1st July 2000
  • You can’t have previously received a grant

You can find more information specific to the Victorian FHOG here.

New South Wales

  • Up to $10,000 for eligible individuals when you buy or build your first new home
  • Available for new properties up to the value of $600,000 OR;
  • When building a home with a total value up to $750,000
  • Full or partial exemption from paying transfer (stamp) duty for eligible home buyers
  • You’ll need to live in the property for 6 months after purchasing
  • You must be at least 18 years old
  • At least one applicant must be a permanent resident or an Australian citizen
  • You can’t apply through a company or a trust
  • You can’t have owned a home prior to 1st July 2000
  • You can’t have lived in a home that you owned after 1st July 2000 (for six consecutive months or more)
  • You can’t have previously received a grant

You can find more information specific to the New South Wales FHOG here.

Queensland

  • Up to $15,000 for eligible home buyer
  • Available for new properties up to the value of $750,000
  • Transfer (stamp) duty concession of up to $15,925 of properties valued under $550,000, or a full exemption for properties valued under $500,000
  • You’ll need to live in the property for 6 months after purchasing
  • You must be at least 18 years old
  • At least one applicant needs to be a permanent resident or an Australian citizen
  • You can’t have lived in any home that you have owned
  • You can’t have already received a grant

You can find more information specific to the Queensland FHOG here.

Queensland

  • Up to $15,000 for eligible home buyer
  • Available for new properties up to the value of $750,000
  • Transfer (stamp) duty concession of up to $15,925 of properties valued under $550,000, or a full exemption for properties valued under $500,000
  • You’ll need to live in the property for 6 months after purchasing
  • You must be at least 18 years old
  • At least one applicant needs to be a permanent resident or an Australian citizen
  • You can’t have lived in any home that you have owned
  • You can’t have already received a grant

You can find more information specific to the Queensland FHOG here.

Western Australia

  • Up to $10,000 for eligible home buyers
  • Available for new properties (located south of the 26th parallel of south latitude — which includes the Perth metro area) up to the value of $750,000
  • Available for new properties (located north of the 26th parallel of south latitude) up to the value of $1,000,000
  • Transfer (stamp) duty exemption or concession for eligible home buyers
  • You’ll need to live in the property for 6 months after purchasing
  • You must be at least 18 years old
  • At least one applicant needs to be a permanent resident or an Australian citizen
  • You can’t apply through a company or a trust
  • You can’t have owned a home prior to 1st July 2000
  • You can’t have lived in a home that you owned after 1st July 2000 (for 6 consecutive months or more after the 1st July 2004)
  • You can’t have previously received a grant

You can find more information specific to the Western Australian FHOG here.

South Australia

  • Up to $15,000 for eligible first home buyers
  • Available for new homes with a value of up to $650,000 (where the contract was entered into on or after 15 June 2023) or $575,000 (where the contract was entered into on or before 14 June 2023)
  • You’ll need to live in the property for at least 6 months after purchasing or construction is complete
  • You must be at least 18 years old
  • At least one applicant needs to be a permanent resident or an Australian citizen
  • You can’t apply through a company or a trust
  • You can’t have owned a home prior to 1st July 2000
  • You can’t have lived in a home that you owned after 1st July 2000 (for six consecutive months or more)

You can find more information specific to the South Australian FHOG here.

Australian Capital Territory

  • A grant of up to $7000 was available until 30th June 2019
  • The FHOG has been replaced with the Home Buyer Concession Scheme, which eliminates or reduces the amount of stamp duty payable
  • For 2023-24, the maximum concession amount is $34,504
  • The concession is available for all properties within the ACT, new and old and it includes land
  • All buyers of the property must be at least 18 years old
  • The total gross income of the buyers must meet an income threshold
  • Buyers can’t have owned property within the previous 2 years
  • At least one of the buyers must reside in the property for at least 12 months

You can find more information specific to the Australian Capital Territory FHOG here.

Tasmania

  • Up to $30,000 for eligible home buyers (until 30th June 2024)
  • Available for new properties only
  • Transfer duty concession of up to 50% for first home buyers purchasing an existing property up to a value of $600,000 (until 30 June 2024)
  • No purchase price limit
  • You’ll need to live in the property 6 months after purchasing.
  • You must be at least 18 years old
  • You must be a permanent resident or an Australian citizen
  • You can’t apply through a company or a trust
  • You can’t have owned a home before 1st July 2000
  • You can’t have lived in a home that you have owned after 1st July 2000 (for 6 consecutive months or more)
  • You can’t have previously received a grant

You can find more information specific to the Tasmanian FHOG here.

Northern Territory

  • Up to $10,000 for eligible home buyers
  • Household goods grant of up to $2000
  • You’ll need to live in the property for 12 months after purchasing
  • At least one applicant must be 18 or over
  • At least one applicant must be a permanent resident or an Australian citizen
  • You can’t apply through a company or a trust
  • You can’t have owned a home prior to 1st July 2000
  • You can’t have lived in a home that you owned after 1st July 2000
  • You can’t have previously received a grant

You can find more information specific to the Northern Territory FHOG here.

What is Stamp Duty?

Stamp duty is a state government tax levied on home buyers and it varies depending on the state or territory.

Generally, it’s 3-4% of the property value, but it’s best to use our Stamp Duty Calculator for an estimate of what you can expect to pay. Below, you’ll find an overview of stamp duty for each state and territory:

VIC
$440,001 to $550k = $18,370, plus 6% of the dutiable value over $440k.
$550,001 to $960k = $28,070, plus 6% of the dutiable value over $550k.

NSW
$80,001 to $300k = $1,290, plus $3.50 for every $100 over $80k$300,001 to $1m = $8,990, plus $4.50 for every $100 over $300k.

If you're a first home buyer, you can choose between a lump sum stamp duty payment or an annual tax that is based on your property's land value. There are conditions and eligibility criteria, which you can find here.

QLD
$75k to $540k = $1,050, plus $3.50 for every $100 over $75k.$540k to $1m = $17,325, plus $4.50 for every $100 over $540k.

WA
$100,001 to $250k = $2,090, plus $3.80 for every $100 over $100k.
$250,001 to $500k = $7,790, plus $4.75 for every $100 over $250k.

SA
$250k to $300k = $8,955, plus $4.75 for every $100 over $250k.$300k to $500k = $11,330, plus $5 for every $100 over $300k.

TAS
$200k to $375k = $5,935, plus $4 for every $100 over $200k.$375k to $725k = $12,935, plus $4.25 for every $100 over $375k.

NT & ACT
Stamp duty is determined by a formula in these territories, so you’ll need to use the calculators on the NT Government and ACT Revenue Office websites to determine approximate stamp duty.

What do I need to buy my first home?

When looking to buy your first home, you’ll need the following:

  • A deposit. Usually 20% of your loan amount, or 10% which will require you to pay Lenders’ Mortgage Insurance (LMI).
  • Funds to pay for government and third-party fees
  • Your bank statements
  • PAYG summaries
  • Income statements
  • Details of any other debt or financial responsibilities you currently have

Our self-serve home loan application can be completed independently and at your own pace, so if you’ve checked your eligibility, prepared the documentation you need and you’re ready to get started, simply start your application here.

How much deposit do I need for my first home?

With a Tiimely Own home loan you can get a first home owner loan with a minimum 10% deposit. If you have less than a 20% deposit you’ll need to pay Lenders’ Mortgage Insurance (LMI). LMI protects the lender in case you can’t make your repayments, the cost can be added to your total loan amount (but keep in mind this means you’ll have less to spend on your home). You’ll also need additional funds to cover any government and third-party fees.

Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.

Tiimely FAQs and Guides
At Tiimely Home we are not financial advisers and recommend seeking independent financial and legal advice to check how the information we provide aligns with your individual circumstances.