FIRST HOME BUYERS
Smarter financing for Perth first-time buyers
First home buyer grants, low-deposit schemes, and the right lender — we'll help you understand what you qualify for and what it actually means for your situation. Navigating your first property purchase requires a strategic approach. At WMP Finance, we specialize in structuring first home buyer loans that set you up for long-term wealth creation. We handle the heavy lifting—comparing competitive rates, managing the paperwork, and unlocking local government grants—so you can focus on finding the right property. Our straightforward, expert advice ensures you step onto the Perth property ladder with absolute financial confidence.
First home buyer grants & schemes.
First Home Owner Grant (FHOG)
Up to $10,000 toward a new build or substantially renovated home in WA.
First Home Guarantee Scheme
Buy with as little as a 5% deposit, with no Lender's Mortgage Insurance (LMI) — saving thousands.
Stamp Duty Concessions
Significant stamp duty exemptions or reductions for eligible WA first home buyers.
Help to Buy Scheme
Shared equity options where the government contributes part of the purchase price.
First home buyer questions, answered.
How much deposit do I really need?
The traditional answer is 20% — but for first home buyers, there are several pathways that need much less. Through the First Home Guarantee Scheme, eligible buyers can purchase with just 5% deposit and no LMI. Some lenders will accept 5–10% deposits without scheme support, although LMI usually applies.
We'll look at your savings, income, and timing, and show you the trade-offs of buying sooner with a smaller deposit versus waiting and saving more.
What is Lender's Mortgage Insurance (LMI)?
LMI is an insurance premium paid by you, the borrower, that protects the lender (not you) if you can't repay the loan. It applies when your deposit is less than 20% of the property's value.
LMI can run from a few thousand dollars up to tens of thousands depending on loan size and deposit. The First Home Guarantee Scheme allows eligible first home buyers to avoid LMI altogether — one of the biggest savings available.
What is pre-approval, and why does it matter?
Pre-approval is a conditional commitment from a lender to lend you a specific amount, subject to the property and final verification. It usually lasts 3 months.
Pre-approval lets you make offers with confidence, gives sellers certainty you're a real buyer, and means you can move quickly when you find the right home. We can usually have you pre-approved within a few days.
Do I qualify for the FHOG if I'm buying an established home?
Pre-approval is a conditional commitment from a lender to lend you a specific amount, subject to the property and final verification. It usually lasts 3 months.
Pre-approval lets you make offers with confidence, gives sellers certainty you're a real buyer, and means you can move quickly when you find the right home. We can usually have you pre-approved within a few days.
How much deposit do I really need?
The traditional answer is 20% — but for first home buyers, there are several pathways that need much less. Through the First Home Guarantee Scheme, eligible buyers can purchase with just 5% deposit and no LMI. Some lenders will accept 5–10% deposits without scheme support, although LMI usually applies.
We'll look at your savings, income, and timing, and show you the trade-offs of buying sooner with a smaller deposit versus waiting and saving more.
What is Lender's Mortgage Insurance (LMI)?
LMI is an insurance premium paid by you, the borrower, that protects the lender (not you) if you can't repay the loan. It applies when your deposit is less than 20% of the property's value.
LMI can run from a few thousand dollars up to tens of thousands depending on loan size and deposit. The First Home Guarantee Scheme allows eligible first home buyers to avoid LMI altogether — one of the biggest savings available.
What is pre-approval, and why does it matter?
Pre-approval is a conditional commitment from a lender to lend you a specific amount, subject to the property and final verification. It usually lasts 3 months.
Pre-approval lets you make offers with confidence, gives sellers certainty you're a real buyer, and means you can move quickly when you find the right home. We can usually have you pre-approved within a few days.
Do I qualify for the FHOG if I'm buying an established home?
Pre-approval is a conditional commitment from a lender to lend you a specific amount, subject to the property and final verification. It usually lasts 3 months.
Pre-approval lets you make offers with confidence, gives sellers certainty you're a real buyer, and means you can move quickly when you find the right home. We can usually have you pre-approved within a few days.