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First Home Buyer Checklist

Download our free checklist for first home buyers in Western Sydney. It covers deposits, government schemes, pre-approval, inspections and settlement.

Western Sydney Home Loan Broker checklist method

Key terms: LMI (Lenders Mortgage Insurance) may apply when borrowing more than 80% of the property value.

Buying your first home involves dozens of small steps. This checklist keeps them in one place so you can work through deposits, schemes, pre-approval, inspections and settlement without missing anything. It is designed for Western Sydney buyers and references NSW and federal assistance available in 2026.

  • Deposit, stamp duty and purchase cost planning
  • NSW First Home Buyers Assistance Scheme and Grant guidance
  • Pre-approval document checklist
  • Inspection, contract and settlement steps

Information on this website is general in nature and does not constitute personal financial advice. Seek independent professional advice before acting.

Method: how this checklist is structured

The checklist groups first home buyer tasks by decision stage: preparation, pre-approval, property search, offer, exchange and settlement. It references NSW and federal scheme checks, but it does not replace advice from a licensed broker, solicitor or conveyancer. For consumer guidance, see Moneysmart home loans.

Download the free checklist

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First home buyer questions

How much deposit do I need to buy a home in Western Sydney?
Most lenders require at least 5% of the purchase price as a genuine savings deposit. If you borrow more than 80% of the property value, lenders usually require Lenders Mortgage Insurance (LMI). Government schemes such as the First Home Guarantee may allow eligible buyers to purchase with a 5% deposit and avoid LMI, subject to lender approval and property price caps.
What is the First Home Guarantee and how does it work in Western Sydney?
The federal First Home Guarantee, also called the Australian Government 5% Deposit Scheme, allows eligible first home buyers to purchase with a 5% deposit without paying Lenders Mortgage Insurance. From 1 October 2025 the scheme has no income caps or place limits, and the NSW capital city price cap is $1,500,000. Eligibility and property price caps are set by Housing Australia and participating lenders.
What documents do I need for a home loan application?
Lenders usually ask for proof of identity, evidence of income (payslips, tax returns or BAS statements), bank statements showing savings and expenses, and details of existing debts such as credit cards, car loans and HECS-HELP. The exact list depends on the lender and your employment type. Your broker will provide a tailored checklist before submission.