Purchase range
What you may be able to borrow and repay after income, debts, expenses and lender policy are considered.
First home buyers
Before you make offers, check deposit, costs and pre-approval together
Your first home plan needs more than a saved deposit. Check cash to complete, possible LMI, scheme rules, documents and pre-approval limits before relying on a property range.
- Calculator estimates only
- General information
- Broker review before lender assessment
Find your first-home stage.
Choose the closest stage so the page shows what matters now, what to check first and which action should come next.
Your next stage
Preparing for pre-approval
A pre-approval conversation is more useful when income, debts, expenses, deposit source and property goal are clear enough to review.
You might be here if
You are inspecting homes or want your lending file checked before making offers.
What to avoid
Pre-approval is conditional and does not guarantee final approval for any property.
Check first
- Income documents
- Bank statements
- Deposit evidence
- Debts and credit limits
Broker next step
Emoney can help identify document gaps before a lender-style assessment is requested.
Cash to complete
Your deposit is not the whole cash picture.
A first-home budget needs to separate the money used for the deposit from the costs around the purchase and the buffer left after settlement.
Estimate upfront buying costsSaved deposit+
Stamp duty and concessions+
Legal and inspection costs+
Lender costs and possible LMI+
Moving costs+
Buffer after settlement
Three numbers
A first-home budget has three separate numbers.
Cash to complete
Deposit, duty, legal costs, inspections, lender costs, possible LMI, moving costs and any scheme assumptions.
Buffer after settlement
Money left after purchase so the loan does not start under pressure from the first repayment cycle.
Low-deposit, LMI and scheme paths are different checks.
Do not treat 20 percent, LMI, schemes and family support as versions of the same answer.
PathwayWhat it may help withCheck firstWatch out for
20 percent depositMay reduce LVR and often avoids LMI.Buying costs, timing and cash left after settlement.Saving longer can change the property market and your borrowing position.
Lower deposit with possible LMIMay bring purchase timing forward.LVR, LMI estimate, repayment impact and lender policy.LMI protects the lender, not the borrower.
Government scheme pathwayMay reduce the deposit barrier if eligible.Official rules, property caps, income caps and lender participation.Rules, places and availability can change.
Gift or family supportMay support deposit, costs or security.Evidence, lender treatment and how the support is structured.The documentation needs to be clear before relying on it.
Pre-approval reality check
Pre-approval can help, but it is not final approval.
It can make the search more practical, but the property, valuation, updated documents and lender conditions still matter before settlement.
Can help with
- Set a possible borrowing range
- Prepare documents before offers
- Surface lender questions earlier
- Support confidence during inspections
Does not confirm
- Confirm final approval for a specific property
- Guarantee valuation outcome
- Confirm scheme eligibility
- Protect the plan after new debts or changed income
Before offers
Check lending questions and contract questions with the right people.
Emoney can help with lending-side preparation. A conveyancer or legal adviser should review contract terms and legal risk before you rely on them.
Lending-side checks
- Pre-approval expiry
- Deposit due date
- Property type and location
- Valuation risk
- Updated debts or income changes
Contract-side checks
- Finance clause
- Building and pest timing
- Settlement date
- Cooling-off rules
- Conveyancer review
Tools and guides for the first-home file.
Use calculators for estimates, guides for preparation and official sources for current scheme rules.
CalculatorUpfront buying costs calculatorBring deposit, duty, legal costs, lender fees, moving costs, and settlement cash into one planning view.Best forChecking whether the cash-to-complete picture is realistic before inspections or offers.Estimate only. A broker still needs to check lender policy and fit.Open calculator CalculatorLMI calculatorEstimate the deposit gap and repayment impact when the deposit is below the usual 20 percent benchmark.Best forUnderstanding the trade-off between buying sooner and contributing a larger deposit.Estimate only. A broker still needs to check lender policy and fit.Open calculator PageLVR and LMI explainedUnderstand why deposit size affects the loan conversation.OpenGuidePre-approval guideUnderstand conditional approval before offers.OpenGuideFirst home buyer guideRead the full first-home sequence.OpenOfficial sourceOfficial 5% Deposit SchemeCheck current government scheme details.Open
Common questions
Questions first-home buyers ask before they call.
Do I need a 20 percent deposit?
Not always, but a lower deposit can involve LMI, stricter lender checks or scheme rules. The right starting point is to check deposit, costs and lender assessment together.
What costs should I budget for besides the deposit?
Budget for stamp duty or concessions, conveyancing, searches, inspections, lender fees, insurance, moving costs, possible LMI and a buffer after settlement.
Can a grant or scheme count as part of my deposit?
It depends on the current scheme rules, lender policy and your evidence. Check official sources for scheme detail and treat lender assessment as separate.
Can Emoney confirm if I qualify for a first-home scheme?
Emoney can help prepare the lending questions, but current scheme eligibility should be checked through official scheme sources and lender assessment.
Is pre-approval the same as final approval?
No. Pre-approval is conditional. The property, valuation, documents and any changes to your circumstances still need final lender review.
What can change after pre-approval?
New debt, changed income, spending changes, expired documents, property type, location, valuation, contract terms or lender policy can all affect the final decision.
What documents should I prepare first?
Start with ID, payslips or income evidence, bank statements, savings records, liabilities and any information about gifts or family support.
Should I speak with a broker before or after finding a property?
Earlier can help you understand the checks before offers. A broker can help with lending-side preparation, while a conveyancer handles contract and legal advice.
Can my parents help with the deposit?
Family support may help, but lenders usually need to understand whether money is a gift, loan, guarantee or another structure. Evidence and policy treatment matter.
What does LMI actually protect?
LMI generally protects the lender if the borrower defaults. It does not protect the borrower from repayment stress or loss if the property is sold.
What should I check before making an offer?
Check pre-approval conditions, deposit due dates, valuation risk and updated borrower details. Ask a conveyancer about finance clauses, settlement timing and contract risk.
Ready to check the first-home path?
Check your first-home path before making offers.
Share your deposit, timing, documents and property context so a broker can see what needs checking before you rely on the plan. General information only.