Contact Us

Phone
1300 881 579
03 5831 4544
0421 332 233

Email
simon@gvfinancebrokers.com.au

Address
100 Fryers St Shepparton Vic 3630

Online Enquiry

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First Home Buyers Shepparton

Clear guidance from your very first question to settlement day.

Helping First Home Buyers in Shepparton Get the Keys

Buying your first place is exciting, but it can also feel like everyone else knows the rules except you. GV Finance Brokers work with first home buyers in Shepparton, Mooroopna and Kialla, as well as in Melbourne's north, including Craigieburn, Kilmore and Seymour. No question is too basic. We'll explain each step, help you understand what support may be available and handle the finance side for you.

Young family in their first home in Shepparton

First Home Buyers Support at GV Finance Brokers

Unlock home ownership with Australia's First Home Owner Grant (FHOG) and Home Guarantee Scheme. These programs enable buying with just a 5% deposit—no Lenders Mortgage Insurance required.

Key Benefits

  • The Australian 5% Deposit Scheme guarantees up to 15% of your loan, ideal for low deposits and single parents, via schemes like the Family Home Guarantee.

  • Regional perks and stamp duty concessions often apply, varying by state, such as Victoria or NSW.

  • The FHOG offers a one-off payment to help eligible first home buyers who are Australian citizens or permanent residents and haven’t owned property before. It’s designed to support a new build, with eligibility and payment amounts varying by state or territory.

Changes to the scheme

  • No Income Caps: Your income doesn’t restrict your access. Support for more Australians, no matter what you earn
  • Avoid Extra Cost: No Lenders Mortgage Insurance fees, reducing upfront costs. Have more money to put towards the home you want
  • Wide Choice of Home Types: Houses, townhouses, apartments, house/land packages, off-the-plan, or building on vacant land – at or below location price caps. More flexibility to find a home that fits your lifestyle, location and budget
  • Unlimited Spots and No Waiting List: Apply when you’re ready, no queues. Get into your first home sooner.

Are you eligible?

To access the Scheme, you need to meet eligibility criteria, including:

  • Australian citizen or permanent resident, at least 18 years old

  • saved or have a minimum deposit of 5%

  • a first home buyer or have not owned a property or land in Australia in the last 10 years

  • buying a home in Australia priced at or below the location's price cap

  • planning to live in the home as an owner-occupier (no investment properties)

  • applying for an owner-occupier home loan with Principal and Interest repayments from a Participating Lender, up to 30 years (plus up to three years to build a new home)

  • applying on your own or jointly with one other person (partner, friend, or family member).

As your locally based broker, I’ll check your eligibility, help ensure compliance with relevant state requirements, and streamline your application process. Contact GV Finance Brokers today to get started.

The Home-Buying Journey, Step by Step

1Work out your budget

We look at your income, savings and expenses to estimate what you may be able to borrow.

2Check your eligibility for schemes

We help you see which government programs may apply to you.

3Get pre-approval

This gives you a working price range before you start inspecting.

4Find a property and make an offer

Your conveyancer reviews the contract before you sign.

5Formal approval

The lender values the property and confirms your loan.

6Settlement

The funds are transferred, and you collect the keys.
Saving a deposit for a first home

How Much Deposit Do You Really Need?

A 20% deposit is the traditional benchmark, but many first buyers purchase with less. Borrowing more than 80% of the property's value usually means paying Lenders Mortgage Insurance (LMI), a one-off cost that protects the lender, unless a government scheme or guarantor applies. Lenders may also want to see genuine savings built up over time, although some accept gifted funds from family.

Remember to budget for costs beyond the deposit, too: stamp duty (unless exempt), conveyancing, building and pest inspections, and loan fees.
Keys to a first home after pre-approval

Why Pre-Approval Matters

Pre-approval gives you a realistic price range, so you can inspect and make offers with more confidence. It's especially useful if you're planning to bid at auction. Keep in mind that it isn't a guarantee of final approval, and it usually expires after a few months.

Government Support for First Home Buyers

Several Victorian and federal programs may help you buy sooner. In general terms:

  • First Home Owner Grant (Victoria): a one-off payment for eligible buyers of new homes. See the State Revenue Office Victoria’s official page.
  • Stamp duty exemptions and concessions: may reduce or remove stamp duty for eligible first buyers below certain price limits.
  • Australian Government 5% Deposit Scheme: formerly the Home Guarantee Scheme. It lets eligible first buyers purchase with a minimum 5% deposit, or 2% for eligible single parents, without paying LMI.
  • First Home Super Saver Scheme: lets you save towards a deposit through voluntary super contributions.

Full details on the federal programs are available on the Australian Government's First Home Buyers official website. Eligibility rules, price caps and thresholds change, so always check the official sources for current details. We can explain how each scheme works with your loan, but for tax or legal questions, speak with your accountant or conveyancer.
A GV Finance Brokers broker meeting with a client in Shepparton

How a Broker Makes Your First Purchase Easier

GV Finance Brokers clear the confusions, compare lenders that suit smaller deposits, casual income or contract work, and coordinate scheme applications with participating lenders. Our mortgage brokers in Shepparton have helped first buyers for more than 20 years, and once you've settled, your loan joins our annual review.

Ready to Take the First Step?

Book a relaxed chat, in person or online, and leave with a clear plan. Want to learn more about loan options? Visit our home loan brokers page. Buying a house-and-land package? See how construction loans work.

Book an Appointment Call 1300 881 579

FAQ

How much can I borrow as a first home buyer?

It depends on your income, expenses, existing debts and deposit, along with each lender's own calculations. We can give you an estimate at your free consultation.

Am I eligible for the First Home Owner Grant?

In Victoria, the grant generally applies to new homes, including house-and-land packages and owner-builds, and is subject to price limits and other conditions.

Can I build my first home instead of buying an established one?

Yes. Many first buyers in growth areas choose house-and-land packages or buy land and build. New homes may also qualify for the First Home Owner Grant. A construction loan works differently from a standard loan, releasing funds in stages as your home is built.