Not sure where to start when financing your first home in Perth? You’re not alone. Two of the biggest supports available to first-time buyers in Perth, Western Australia are first home buyer loans and the First Home Owner Grant (FHOG).
The FHOG is a one-off government payment, while home loans are mortgages from banks or lenders. Used together, they can make the dream of home ownership in Perth much more achievable.
What is the First Home Owner Grant – aka the FHOG – in WA?
The First Home Owner Grant (FHOG) is a government grant, not a loan. In Western Australia, eligible buyers can receive a $10,000 payment when building a new home or buying a newly built property.
This grant helps reduce the upfront cost of purchasing in Perth, but it doesn’t replace the need for a home loan.
Key FHOG eligibility in WA:
- You (or your partner) have never owned a property in Australia.
- You’re over 18 and an Australian citizen or permanent resident.
- The property will be your primary residence for at least 6 months within 12 months of completion.
- Property price caps apply — up to $750,000 in Perth and southern WA, and $1 million in northern WA.
What is a First Home Buyer Loan in Perth?
A first home buyer loan is a regular mortgage, but some lenders in WA offer products tailored to first-time buyers. These may include lower deposits, waived fees, or access to government schemes.
Common features of first home buyer loans in Perth:
- Low deposit options: As little as 5% deposit with some lenders.
- Government schemes: The First Home Guarantee can help eligible buyers purchase with just a 5% deposit without paying Lenders Mortgage Insurance (LMI).
- Competitive rates & reduced fees: Many lenders offer discounts for first home buyers.
How the FHOG and First Home Buyer Loans Work Together in WA
Most Perth first home buyers use both:
- FHOG WA gives you $10,000 upfront support (if eligible) towards your new home. Remember, this grant does not apply to already-built, established homes.
- Your home loan covers the rest of the purchase price.
- Together, they help you buy sooner and with less financial strain.
House and Land Packages in Perth for First Home Buyers
Many Perth buyers choose house and land packages because they qualify for the FHOG and simplify the process.
Why first home buyers in Perth love house and land packages:
- Fixed price contracts: Know your total cost upfront.
- Eligibility for FHOG: New builds qualify for the $10,000 grant.
- Customisable home designs: Choose a plan that fits your lifestyle.
- Popular locations: Packages are available across Perth suburbs, both north and south of the river.
Steps to Apply for a First Home Buyer Loan in WA
Here’s how to get started with your first home loan in Perth:
Check FHOG eligibility WA: Confirm you qualify for the $10,000 grant.
Work out your budget: Understand your savings, deposit, and borrowing power.
Compare loans: Shop around Perth lenders for the best rates.
Apply: Submit your application with income, ID, and property details.
Approval & settlement: Once approved, your lender releases funds to finalise your purchase.
Pssst..if this all sounds a bit “much,” have no fear! Our in-house finance team will take care of all this heavy lifting for you, simplifying the process so you don’t have to worry about a thing.
Mistakes Perth First Home Buyers Should Avoid
Confusing the FHOG with a loan: It’s a grant, not borrowed money.
Missing out on WA stamp duty concessions: Many first home buyers qualify.
Forgetting extra costs: Budget for insurance, moving, and settlement fees.
Not comparing lenders: Rates and conditions vary across Perth. Our in-house finance team will take care of this for you, ensuring you get the best loan that works for you!
The Bottom Line for First Home Buyers in Perth
Buying your first home in WA is a big step — but with the First Home Owner Grant and the right first home buyer loan, it’s more achievable than you think.
At the First Home Owners Centre Perth, we specialise in helping first-time buyers navigate the process, from FHOG applications to securing affordable house and land packages across Perth.
Want to see if you qualify? Fill out the below form to get started.
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