Why First Home Buyer Grants Matter
Buying your first home in Victoria can be expensive. Fortunately, there are several government grants and schemes designed to help you get into the property market, especially in Melbourne’s West — suburbs like Tarneit, Truganina, Werribee, Hoppers Crossing, and Point Cook.
These schemes can reduce upfront costs, lower deposits, and even help avoid stamp duty in some cases.
External Reference: SRO Victoria – First Home Owner Grant
Key Grants and Schemes
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First Home Owner Grant (FHOG VIC)
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Up to $10,000 for new homes under $750,000.
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Available for eligible first home buyers who build or purchase a new property.
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First Home Guarantee (FHBG)
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Allows eligible buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance.
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Applies to both new and established homes.
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Stamp Duty Concessions
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Full exemption for homes under $600,000.
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Concessions for homes up to $750,000.
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HomeBuilder Grant (if eligible)
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For those building or substantially renovating a home.
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How to Maximise These Benefits
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Plan Ahead: Grants have strict eligibility criteria and deadlines.
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Consult a Broker: I can help identify which lenders and loans work best with grants and schemes.
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Factor in All Costs: Beyond grants, consider legal fees, inspections, and moving costs.
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Local Knowledge: In suburbs like Tarneit and Truganina, knowing median house prices helps you determine the best grants to apply for.
Learn more about my first home buyer support at Services
Examples in Melbourne’s West
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Tarneit: A young couple used the FHOG and stamp duty concessions to reduce upfront costs by nearly $18,000 on their new build.
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Truganina: Clients combined FHBG with a 5% deposit, avoiding LMI and saving $12,000.
These examples show how government support + broker guidance makes buying easier and more affordable.
Why Work With a Mortgage Broker
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Access to Multiple Lenders: Some lenders have special grants participation rules.
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Maximise Grant Eligibility: A broker ensures all applications meet criteria.
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Save Time & Stress: Applications, pre-approval, and grant paperwork can be confusing without guidance.
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Best Interest Duty: By law, brokers act in your best interest.
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📞 Ready to explore your options? Contact me via the Contact Page or call 0401 545 302 for a free consultation.
Disclaimer: The information provided in this article is correct as of August 2025 and is intended for general informational purposes only. Grants, schemes, and eligibility criteria may change. Please consult a qualified mortgage broker or the relevant government website before making any financial decisions.
