Mortgage Broker For First Home Buyers in Newcastle
At Watson Mortgages, we specialise in helping first home buyers in Newcastle, Maitland, Singleton, and the Hunter secure the right home loan. With access to over 30 lenders, we work for you—not the banks.
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Grants & financial support in NSW
Purchasing a home is a major financial commitment, but there are several first home buyer grants and government schemes designed to help ease the burden. In New South Wales, eligible first home buyers can access various incentives to get into the property market sooner.
First Home Owner Grant (FHOG)
The First Home Owner Grant is a one-off $10,000 payment available to eligible first home buyers purchasing or building a new residential property valued up to $750,000. If you’re buying your first property as a primary residence, this grant can provide valuable financial assistance towards your deposit or home loan.
Stamp Duty Exemptions & Concessions
First home buyers in NSW may also be eligible for full or partial exemptions on stamp duty under the First Home Buyer Assistance Scheme. If the home you’re purchasing is valued under $800,000, you can apply for a full exemption from transfer duty.
First Home Guarantee
The First Home Guarantee, part of the Home Guarantee Scheme, allows eligible first home buyers to purchase a home with as little as a 5% deposit without needing to pay lenders mortgage insurance (LMI). This scheme is designed to help first home buyers secure a loan product and step into the property market sooner.
Shared Equity Home Buyer Helper
For eligible first home buyers with a lower income, the Shared Equity Home Buyer Helper program allows the NSW Government to contribute up to 40% of the purchase price of a new home (or 30% for an existing home), reducing borrowing capacity requirements and monthly repayments.
Taking advantage of these home buyer grants and government support programs can significantly improve your first home buying experience. Our first home buyer brokers provide expert guidance to ensure you understand all your options and maximise available benefits.
Why choose us as your first home buyer broker?
Finding the right home loan is crucial, and our team is dedicated to making the home loan process stress-free. Here’s why first home buyers in Newcastle, Maitland, and the Hunter Region choose us as their trusted mortgage brokers.
We offer a free service
Our mortgage broking service is completely free. We are paid by the lenders, meaning you get professional advice and expert guidance at no cost.
Access to over 30 lenders
We compare home loans from 30+ lenders, giving you access to competitive interest rates and loan products that suit your financial situation.
Instead of being tied to one bank’s offerings, we ensure you get the best loan with the right features, whether you’re looking for a fixed rate, extra repayments, or flexible loan amounts.
We work for you, not the bank
Unlike banks that push their own loan products, our priority is finding the right first home buyers loan for your needs. We assess your financial circumstances and goals, borrowing capacity, and credit history to match you with the best lender and home loan.
Helping you through the entire home buying process
From securing home loan pre-approval to finalising your home loan application, we handle the leg work so you can focus on finding the right property. Our industry experience means we can simplify the buying process, ensuring you understand loan amounts, comparison rates, and mortgage insurance requirements.
Trusted by local home buyers
Our Google reviews speak for themselves—our clients trust us to make their home buying journey as smooth and stress-free as possible. Whether it’s understanding the application process or navigating first home buyer grants, we provide personalised support every step of the way.
Frequently asked questions
How much deposit do I need as a first home buyer?
While a 20% deposit is ideal, first home buyers can purchase with as little as 5% under the First Home Guarantee. Keep in mind that if your deposit is below 20%, you may need to pay lenders mortgage insurance (LMI) unless you’re eligible for government support.
What is home loan pre-approval, and do I need it?
Home loan pre-approval is an indication from a lender of how much you can borrow based on your financial circumstances. While not mandatory, it strengthens your position when making an offer on a property and helps you understand your borrowing capacity.
What are the benefits of using a mortgage broker for first home buyers?
A mortgage broker simplifies the home loan process by comparing lenders, securing the best loan product, and managing the mortgage application on your behalf. Mortgage brokers also provide expert guidance on home buyers loans, government schemes, and financial goals.
Can I access first home buyer grants if I buy an existing home?
Some home buyer grants, such as the First Home Owner Grant, apply only to new properties. However, stamp duty exemptions and other government schemes can still apply to existing homes.
How do interest rates affect my home loan?
Interest rates impact your monthly repayments and the total cost of your home loan. A lower interest rate reduces your repayments, while a fixed rate offers stability. Mortgage brokers help you compare rates to find the best loan for your situation.
What costs should I consider beyond my home loan?
Beyond your loan, consider costs like stamp duty, conveyancing fees, mortgage insurance (if applicable), and ongoing property expenses such as council rates and maintenance.
How long does the home loan application process take?
The time frame varies, but with a mortgage broker handling the leg work, the process is typically streamlined. Pre-approval can take a few days, while final approval and settlement usually take a few weeks.
