Every NSW first home buyer scheme, in one place
There are four main forms of help available to NSW first home buyers, they are administered by different bodies, and the criteria do not line up neatly. Several can apply at once. This page explains what each one does, who runs it, and which combinations actually work together.
The 5% Deposit Scheme
A federal government guarantee that lets eligible first home buyers purchase with a five per cent deposit without paying lenders mortgage insurance, because the government guarantees the balance to the lender. The Sydney price cap is $1.5 million and there are no income caps. Places are limited and attach to your loan application, so eligibility is confirmed and the place secured through a participating lender rather than applied for separately. This is usually the single most valuable form of help available.
NSW stamp duty relief
Administered by Revenue NSW, not by any lender. Eligible first home buyers pay no transfer duty up to $800,000, and a reduced concessional amount on a sliding scale up to $1 million. Above that, full duty applies. Eligibility depends on the buyer and the property, including never having owned before and moving in within a set period. Revenue NSW publishes the criteria and confirms eligibility.
First Home Owner Grant
A $10,000 grant for eligible buyers of new homes, including newly built properties and in some cases substantially renovated ones. It does not apply to established housing. Because it targets new builds, it comes up most often in the growth corridors and in house-and-land purchases. It can generally be combined with the other supports where the criteria are met.
Help to Buy
A shared-equity scheme where the government takes an equity share in the property, reducing the amount you need to borrow, with a lower minimum deposit than conventional lending requires. It has its own income and property price caps and its own eligibility rules. It is generally an alternative to the 5% Deposit Scheme rather than an addition, and which suits you depends on your income, deposit and long-term plans, since a government equity share is repaid eventually.
What typically combines
The criteria differ, so this is a starting point rather than a ruling on your situation.
The most common pairing for eligible NSW buyers. One solves the deposit, the other cuts entry costs.
Where the property is a new build meeting the grant criteria, all three can apply together.
Generally an alternative to the 5% scheme rather than an addition. Worth comparing properly rather than assuming.
Scheme places attach to the loan application, so sequencing eligibility, approval and settlement is the practical work.
Not sure which schemes you qualify for?
Charles checks eligibility against current criteria for your circumstances, before you shortlist suburbs.
NSW scheme questions
Can I use more than one scheme?
Usually yes. The 5% Deposit Scheme and stamp duty relief commonly apply together for eligible NSW buyers, and the First Home Owner Grant can be added where the property is an eligible new build. Help to Buy is generally an alternative to the 5% scheme rather than something layered on top.
Are the schemes first come, first served?
The 5% Deposit Scheme has limited places, and they attach to loan applications through participating lenders, so timing genuinely matters. The stamp duty concessions are not capped by places; they apply where the eligibility criteria are met.
Do the price caps include the whole of Sydney?
The 5% Deposit Scheme's cap for Sydney is $1.5 million, which covers a large share of the market outside the premium suburbs. The NSW duty thresholds are separate figures entirely, at $800,000 for the full exemption and $1 million for the end of the concession.
Who confirms whether I am eligible?
Different bodies for different schemes. Revenue NSW administers stamp duty relief and the grant; the federal guarantee scheme runs through participating lenders. A broker checks all of it against your circumstances at once, which is faster than approaching each separately.
Do the amounts and caps change?
Yes, periodically, and they are set by government rather than by lenders. Figures on this page reflect current settings at the time of writing and are confirmed against the relevant authority when your application is prepared, which is why we check rather than assume.
Related guides
General information only, not credit or financial advice. Professional lending policies, eligible occupations and loan-to-value thresholds vary by lender and change over time. Eligibility is confirmed against current lender policy in an assessment; nothing on this page is a promise that any lender will approve any application.
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