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Tasmanian First Home Buyer Loans

Your first home may be more achievable than you think with the right support behind you.

At Fortify Loans, we help first-home buyers in Tasmania feel more equipped for what comes next. We connect you with loan options and incentives that bring home ownership closer.

Want to get started? Speak with a home loan expert today.

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HOW WE HELP FIRST-HOME BUYERS

How We Help First-Home Buyers

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Access to Government Grants

We help first-home buyers understand what grants or incentives may be available.

Step-by-Step Guidance

From the first conversation to settlement day, we help make the process easier to navigate.

No Broker Fees

There is no cost to use our service because we get paid by lenders. One less thing on your plate.

Get Started Right Here, For FREE

Breaking things down can make the whole process feel far easier to take in. We will start by helping you understand what you can afford, what may be available to you, plus where to go from here.

Just tick what you would like to know more about. We will get back to you with guidance that is tailored to you.

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WHAT YOU NEED TO KNOW

Calculating Your Borrowing Power

Borrowing power Calculator

Your borrowing power depends on income, expenses, and debts. We compare multiple lenders to find you the best deal.

Want an estimate? Use our Home Loan Calculator or chat with us for a personalised assessment.
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SAVING FOR A DEPOSIT

How much do you need?

Explore your options

First Home Loan Deposit Scheme (FHLDS)

Buy with just a 5% deposit and no LMI fees.

The First Home Guarantee (previously FHLDS) is a federal government initiative that allows eligible first-home buyers to purchase a home with just a 5% deposit while avoiding Lenders’ Mortgage Insurance (LMI). This is a fee usually charged when borrowing more than 80% of the property value. Single parents can also apply with only a 2% deposit.

Guarantor Loans

A family member can help secure your loan.

If you do not have a full deposit, a guarantor loan may still be an option. With this option, a parent or close family member can use their property’s equity as added security. This means you borrow up to 100% of the property value without paying LMI in many cases.

Low-Deposit Lenders

Many lenders offer low-deposit home loans.
They allow first-home buyers to enter the market with a 10% 5% deposit or even a 2% deposit! However, with a lower deposit, you’ll usually need to pay Lenders’ Mortgage Insurance (LMI), which protects the lender in case of default.
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TASMANIAN EXPERTISE

First-Home Buyer Government Grants & Incentives for Tasmanians

Tasmanian first-home buyers have access to government grants plus schemes that can make getting started easier. Across Australia, they are designed to reduce some of the costs of getting into the market.

First Home Owner Grant (FHOG)

A one-off payment for new home purchases.
This is a state-based government grant designed to assist first-home buyers purchasing a new home, an off-the-plan property, or building a new home. The amount varies by state but can be worth up to $30,000 in some locations.

Stamp Duty Exemptions

Save thousands on upfront costs.
Stamp duty (also known as transfer duty) is one of the highest upfront costs when buying a property. However, most states offer full or partial exemptions for first-home buyers. As such, it may reduce the upfront costs of your purchase.

First Home Super Saver Scheme (FHSSS)

Use your super to boost your deposit
The First Home Super Saver Scheme (FHSSS) allows first-home buyers to use eligible voluntary super contributions towards a home deposit. Depending on your circumstances, this may also come with tax-related benefits.
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HOME LOAN PROCESS

The Home Loan Process

Download the guide to make smart decisions from the start.
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FAQs

Common First Home Buyer Questions

Under the First Home Super Saver (FHSS) scheme, you can use voluntary super contributions for your home deposit. If you qualify, you can access up to $50,000. However, it is important to note that eligibility criteria apply.

Your deposit is only one part of the upfront cost. You will also need to budget for stamp duty, conveyancing fees, and loan application costs. Furthermore, you should also factor in building inspections, moving costs, and home insurance.

LMI is an insurance fee that protects the lender if you borrow more than 80% of a property’s value. However, first home buyers may avoid LMI by using government schemes like the First Home Guarantee or having a guarantor on their loan.

Your borrowing power depends on various factors. A mortgage broker can assess your financial situation and help determine how much you can comfortably borrow and repay. We also have a range of calculators you can use if you want to try it yourself.

A pre-approval is a lender’s indication of how much you can borrow based on an initial assessment of your finances. While it’s not a final loan approval, it can give you confidence when house hunting. Aside from that, it makes your offer more attractive to sellers.

Yes, but your options may be more limited. Because of that, you may come across higher interest rates or stricter conditions. Fortunately, by working with a mortgage broker, it becomes easier to find a lender that fits your position.
LET’S TALK

Your First Home Starts Here

Fortify Loans helps you get house hunting sooner. Book a free, no-obligation chat with our home loan experts today.
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IMPORTANT INFO

Fortify Loans Pty Ltd (ABN 51679738786 and Credit Representative Number 546469) is authorised under Australian Credit Licence 384324.
*Individual lenders may charge fees to the customer.

This website provides general information only. Our content does not constitute legal, tax or financial advice and has been prepared without taking into account your objectives, financial situation or needs. You should always consider whether any loan or financial decision is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product.

All applications are subject to lender assessment and approval. Cashback offers may be provided by some lenders and may only be available for particular products, terms and conditions apply.

Any information provided does not constitute an offer of credit and are examples of what may be available to you based on the information available. It does not take into account any product features or any applicable fees. Lending criteria and the basis upon which we assess what you may be able to afford may change at any time without notice. For Fixed Rate home loans, break costs may be payable which can be significant if you change the whole or part of your fixed rate loan or where additional or early repayments are made during the fixed rate period.

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ACKNOWLEDGEMENT OF COUNTRY

In the spirit of reconciliation, we acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.