First Home Buyers in Victoria: Your Ultimate Guide to Getting Started

Buying your first home is one of life’s biggest financial steps — and if you’re a first home buyer in Victoria, it can feel like navigating a maze of loans, grants, and lingo.

At Blacksmith Financial Group, we specialise in helping everyday Australians cut through the noise. Whether you're exploring your options or ready to buy, here's a clear, local guide tailored for first-time buyers just like you.

Step 1: Know What You Can Afford

Before you dive into house hunting, you need clarity on your budget and borrowing power. As mortgage brokers, we help you:

Understand what lenders look at (income, expenses, debts)
Get a realistic estimate of your repayments
Avoid costly mistakes early in the journey

Bonus: We run the numbers and present options that fit your lifestyle — not the bank’s.

Step 2: Unlock Government Grants & Schemes

The Victorian and Federal Governments offer a range of support for first home buyers. You may be eligible for:

First Home Owner Grant (FHOG)

$10,000 for new homes up to $750,000

Stamp Duty Exemptions or Discounts

Pay no stamp duty on homes up to $600,000
Get concessions for homes up to $750,000

First Home Guarantee

Buy with as little as 5% deposit, no LMI
Available on eligible properties for qualifying buyers

We help you apply for these incentives — no need to go it alone.

Step 3: Get Pre-Approval Before You Shop

Pre-approval is a green light from a lender showing how much you're eligible to borrow. It gives you confidence and negotiation power.

We:

Compare loan options from 30+ lenders
Tailor solutions to your goals (offset accounts, fixed vs variable, etc.)
Manage the paperwork from start to finish

Step 4: Start House Hunting with Confidence

Once you’re pre-approved, the fun part begins! You can attend inspections with a clear price range and realistic goals.

We continue supporting you by:

Reviewing property valuations and risks
Coordinating with your conveyancer or solicitor
Assisting with any changes along the way

Step 5: Settle & Move In

Your offer is accepted — now what? We guide you all the way to settlement, making sure:

Your finance is finalised
Documents are signed and lodged
You get the keys without unnecessary stress

Why Work With Blacksmith Financial Group?

Unlike a bank, we’re on your side. Based right here in Fitzroy, we offer:

Independent, expert advice
Personalised service – no cookie-cutter loans
Long-term support – we’re here for every milestone

Let’s Chat About Your First Home Goals

We’ve helped hundreds of Victorians take the leap into their first home — and we’d love to help you too. Book a free consultation with me directly:

Patrick Cosgrave
patrick@blacksmithfinancialgroup.com.au
blacksmithfinancialgroup.com.au
1/397 Brunswick Street, Fitzroy VIC 3065
0437 098 188

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