The NSW property market is still very competitive in 2026, which makes it hard for first-home buyers to get in. Various government schemes remain active and, if used correctly, can significantly reduce your upfront costs. The first step is to know what’s out there, whether you’re looking for a loan in Parramatta or a house in the Hills District. At OM Financials, we help first-time home buyers understand these plans and set up the right loan from the start.
First Home Owner Grant (FHG): $10,000 for New Homes
The First Home Owner Grant NSW gives buyers $10,000 to buy or build a new home worth $600,000 or less or up to $750,000 for a house-and-land package. It only applies to new homes and homes that are bought before they are built, not homes that are already built. You have to move in within a year and stay there for at least a year. The application is submitted through your lender. OM Financials takes care of all the paperwork for every eligible client as part of the loan process. You can find all the information you need on Revenue NSW.
Stamp Duty Exemption: Save up to $30,000+
Under theFirst Home Buyers Assistance Scheme, buyers who qualify pay no stamp duty on properties valued up to $800,000 and a lower rate worth up to $1,000,000. This applies to both new and existing homes, which makes it one of the best ways for NSW buyers to save money in 2026. This exemption alone can save you more than $28,000 on a $750,000 home.
First Home Guarantee: 5% Deposit, No LMI
The First Home Guarantee is one of the most impactful schemes you can get right now. It allows eligible buyers to buy with only a 5% deposit without a lender’s mortgage insurance (LMI), which can add $15,000 to $30,000 to your costs. The federal government guarantees the remaining portion of the deposit. In Sydney and other major regional centres in New South Wales, the maximum property price is $900,000. There are income limits: $125,000 for single people and $200,000 for couples.
Read More: Government’s Guarantee Scheme Saves First-Home Buyers Billions, Raises Questions Over LMI
Help to Buy: Enter the Market With Just a 2% Deposit
The Help to Buy Scheme is a federal shared equity programme where the government contributes up to 40% of the purchase price of a new home (30% of the price of an existing home). You only have to finance your share. You only need to put down a 2% deposit. The maximum income caps are $90,000 for singles and $120,000 for couples. You can only use one of Help to Buy or the First Home Guarantee at a time. But both can still be combined with the First Home Owner Grant (FHOG) and the stamp duty exemption, where eligible.
Key First Home Buyer Schemes Available in NSW (2026)
| Government Schemes | Key Benefit | Eligibility Highlights |
| First Home Owner Grant (FHOG) | First Home Owner Grant (FHOG) | Property value up to $600k or $750k house and land package |
| First Home Buyer Assistance Scheme | Stamp duty exemption up to $800k | Concessions available up to $1M property value |
| First Home Guarantee | Buy with 5% deposit without LMI | Income limit: $125k single / $200k couples |
| Help to Buy Scheme | The government contributes up to 40 % equity | Only 2% deposit is required with income limits |
How OM Financials Helps You Get It Right
It’s one thing to know how the schemes work. It’s another thing to use them correctly while staying within the limits on price, income, and property conditions. A wrong move can mean missing out on thousands in savings. If you make a mistake, you could lose thousands of dollars in savings or, even worse, a declined application. OM Financials takes away all doubt. We take a look at your situation, find all the programmes you can use, and handle the paperwork with more than 50 lenders. You don’t have to pay a broker fee. Our team has assisted first home buyers in NSW in obtaining pre-approval faster and with more confidence than they could have done on their own.
Ready To Buy Your First Home in NSW?
The government schemes for first-time homebuyers in NSW are really helpful, but they won’t wait forever, and eligibility conditions can change, which means that potential buyers should act quickly to take advantage of these opportunities before they potentially lose out. You should know what you can afford before you bid.
Book a free consultation with OM Financials. Our team will help you find a plan, save money, and get pre-approved.
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