The easiest way to use First Home Buyer Support

The federal First Home Guarantee now works without income caps or place limits, which means you can buy with a 5% deposit anywhere in Australia without paying Lenders Mortgage Insurance.

What the First Home Guarantee Actually Does

The First Home Guarantee lets you borrow with a 5% deposit while the government underwrites the portion of the loan normally covered by LMI. You avoid paying upfront insurance, which can run to tens of thousands. The scheme was expanded from October last year, removing previous income and location restrictions that made it harder for FIFO workers to qualify. You can now use it on established homes or new builds, and there's no property price cap at the federal level, though individual lenders still set their own serviceability rules.

Consider a mobile plant operator based in WA who's been working in the Pilbara for three years. With $25,000 saved, they can access properties that would normally require $50,000 or more once you factor in a 10% deposit plus costs. The difference is immediate and measurable.

How State Grants Stack With Federal Schemes

Most states offer cash grants for new builds, and some provide stamp duty concessions for established homes. You can layer these with the First Home Guarantee. In Queensland, the $30,000 grant for new homes valued under $750,000 runs until the end of June this year. If you're buying new in SA, there's no stamp duty at all regardless of price, which can save $45,000 on an $850,000 property. WA raised its first home owner grant property cap to $800,000 and removed stamp duty on pre-construction dwellings up to that threshold.

In our experience, FIFO workers based in QLD or WA often have the strongest combination of state and federal support, particularly if they're willing to buy new or off-plan. The NT's $50,000 HomeGrown Territory Grant is the largest in the country and has no house price cap, though it applies only to new builds and runs until September.

Using Super Contributions to Build Your Deposit Faster

The First Home Super Saver Scheme lets you salary sacrifice into super at a 15% tax rate instead of your marginal rate, then withdraw it for a deposit. You can contribute up to $15,000 per financial year and pull out a total of $50,000. If you're on a typical FIFO roster and earning in the $120,000 to $150,000 range, you're paying 32.5% or 37% tax on contributions. Routing those dollars through super saves you close to 20 cents per dollar contributed.

As an example, a mobile plant operator contributing $15,000 per year for three years would end up with $45,000 available for withdrawal, plus the earnings on those contributions taxed at 15%. That's a deposit bump of several thousand compared to saving the same amount in an offset or savings account, and it happens without changing your lifestyle or cutting expenses. The scheme works particularly well for FIFO workers who can commit to a savings plan over two or three rosters without needing immediate access to those funds.

What Lenders Look For When You Apply

Lenders assess FIFO income differently depending on how long you've been in the industry and whether your contract is ongoing. Most want to see at least 12 months of continuous employment, ideally with the same employer or contractor. If you've been in the industry for three years or more, your income is treated as stable. Payslips, tax returns, and a letter from your employer confirming your roster and contract status are standard requirements for a home loan application.

Genuine savings matter. A 5% deposit sourced from your own income over three months is treated differently than a lump sum that appeared in your account last week. If you've received a cash gift from family, most lenders will accept it as part of your deposit but may still want to see some portion saved independently. The First Home Guarantee doesn't eliminate serviceability checks or deposit scrutiny, it just removes the LMI cost.

Regional First Home Buyer Guarantee for Properties Outside Metro Areas

The Regional First Home Buyer Guarantee is a separate allocation within the broader program, and it's designed for properties outside capital cities. You still get the 5% deposit benefit, but the program targets regional buyers specifically. If you're looking at towns in regional WA, QLD, or SA where property values are lower and rental vacancy is tight, this scheme opens up options that wouldn't otherwise be viable on a smaller deposit.

Some lenders are more active in regional lending than others. If you're buying in a town with a population under 20,000, not every lender will price the loan the same way or offer the same low deposit options. A broker who understands FIFO work and regional property can point you to the lenders who will actually write the deal without loading the rate or cutting features.

Fixed Versus Variable Rates When You're Just Starting Out

You'll need to decide whether to fix part or all of your loan. A fixed rate locks in your repayment for one to five years, which makes budgeting easier when you're on a roster and managing expenses in blocks. A variable rate moves with the market, but it usually comes with an offset account and full redraw, which matter if you're parking income between swings or paying down the loan faster when you can.

Most FIFO buyers we work with split the loan, fixing half for certainty and leaving half variable for flexibility. That way you're not locked out of extra repayments, and you're not fully exposed if rates climb. There's no perfect formula, but the decision should match how you actually manage money on roster, not what sounds good in theory.

When Pre-Approval Matters and When It Doesn't

Pre-approval is useful if you're ready to buy and want to move quickly once you find a property. It confirms your borrowing capacity and shows sellers you're funded. But it's not mandatory, and it's not a guarantee. Lenders reassess when you make a formal application, and if your circumstances change between pre-approval and settlement, the offer can be withdrawn.

For FIFO workers, getting pre-approval before you start looking makes sense if you're between swings and want to use your time off to inspect properties and make offers. If you're still six months out from buying, it's less useful. Pre-approvals usually last 90 days, and most lenders won't extend beyond that without a full re-assessment.

Call one of our team or book an appointment at a time that works for you. We'll walk through which grants and schemes apply to your situation and which lenders will back a FIFO mobile plant operator without loading the rate or cutting your borrowing capacity.

Frequently Asked Questions