Becoming a first home owner is a significant moment in life that you will always remember. This is a very exciting journey, but we know it can also be overwhelming. At Rhythm Finance Co we’ll guide you through every step of the process, so you can relax knowing we’re working hard for you. We’re passionate about helping you achieve your goal of home ownership.
How we help first home buyers…
- We'll help you understand the process & the costs
- We'll work out your borrowing capacity
- We'll explain all the available lending options
- We'll help you get pre-approval
- We'll support you every step of the way
With government assistance available to support first home buyers, now is a great time to get started. We can also discuss loan structures to get you into your own home sooner without a deposit.
The Australian Government 5% Deposit Scheme
The Australian Government 5% Deposit Scheme helps eligible home buyers enter the property market sooner, with as little as a 5% deposit (or 2% for eligible single parents and guardians).
The government guarantees part of your home loan, which means you can avoid paying Lenders Mortgage Insurance (LMI) even though your deposit is under 20%.
From 1 October 2025, the scheme was expanded, there are no income caps, no waiting lists, and unlimited places available nationwide.
How the scheme can help you:
- Buy sooner – Save a smaller deposit and get into your first home faster.
- Avoid LMI – The government guarantee saves you thousands in upfront costs.
- Wide property options – Houses, apartments, townhouses and some off-the-plan builds are eligible (subject to regional price caps).
- Accessible to more buyers – Broader eligibility and no limit on places make it easier than ever to apply.
Things to keep in mind
- You’ll still need to qualify for a standard home loan with a participating lender.
- A 5% deposit means a higher loan amount and monthly repayments, so budgeting carefully is key.
- Legal fees, and other costs still apply and Stamp Duty may be payable
- You must live in the property (it can’t be used as an investment).
How Rhythm Finance Co. can help? At Rhythm Finance Co., we’ll:
- Check your eligibility and help you understand if the scheme suits your situation.
- Compare participating lenders and structure the right loan for you.
- Guide you through pre-approval, purchase and settlement — every step of the way.
Ready to get started?
Buying your first home is a big step, but with the right advice, it doesn’t have to be overwhelming.
Talk to Rhythm Finance Co. today about the Australian Government 5% Deposit Scheme and see if you could be in your home sooner.
Stamp Duty Savings for First Home Buyers in NSW
Buying your first home in New South Wales? You may be eligible for a stamp duty exemption or discount:
- No stamp duty for homes valued up to $800,000
- Discounted stamp duty for homes between $800,000 and $1 million
- For vacant land, full exemption up to $350,000, and concessions up to $450,000
To qualify, you’ll need to be an Australian citizen or permanent resident, purchasing your first home to live in, and you must move in within 12 months and stay for at least a year.