Does it cost anything to use a mortgage broker for a first home loan?

Most brokers don't charge first home buyers directly. They're paid a commission by the lender once the loan settles, so the service is typically free to you. It's still worth asking upfront whether any fees apply, especially for more complex applications.

How often do first home buyers need to see a broker?

Usually just at the start of the process, for pre-approval and loan selection, and again closer to settlement if your circumstances change. Some buyers check in with their broker again a few years later to review refinancing options once their equity has grown.

What should I expect from the first meeting?

Expect questions about your income, expenses, existing debts, deposit size, and savings history. A broker should give you a realistic borrowing range, explain which government grants or guarantees you might qualify for, and outline a short list of suitable loan products, not just push one option.

How do I judge if a broker did a good job?

Look at whether they explained the full cost of the loan (not just the rate), whether the approval process matched their timeline estimates, and whether they stayed in contact through settlement. The team communication after settlement, rather than disappearing once the deal is done, is a good sign of quality.

First Home Buyer Loans in SYDNEY

Buying your first home in Sydney means dealing with a market where most lenders offer dozens of loan products, each with different rates, fees, and conditions for borrowers with smaller deposits. A mortgage broker who specialises in first home buyer loans does the legwork of comparing lenders, checking eligibility for government schemes like the First Home the team or stamp duty concessions, and structuring your application so it holds up under a bank's serviceability tests. We've listed 291 businesses in this category across Sydney, from brokers working out of the CBD to local operators in the west, north shore, and southern suburbs.

What the service actually involves

A broker working with first home buyers usually starts by reviewing your income, savings, debts, and credit history to work out realistic borrowing capacity. They'll compare loan products across their lender panel, help with pre-approval, and manage paperwork through to settlement. Good brokers also flag things buyers often miss: Lenders Mortgage the team thresholds, how a low deposit changes your options, and whether a low advertised rate comes with an offset account, redraw, or fixed-rate lock-in fees.

What to look for

Check how many lenders a broker actually deals with, not just the big four banks. Ask how they get paid (most work on commission from the lender, at no direct cost to you), and whether they've handled first home buyer grants and guarantees before. A broker who explains trade-offs clearly, rather than pushing one lender, is usually a safer bet.

How our scoring helps

Our ranking weighs factors like client feedback, responsiveness, range of lenders, and transparency around fees. For a side-by-side comparison of the top-performing brokers across all loan types, see our ranked guide to Sydney mortgage brokers. The full breakdown of how we score and rank is on our methodology page.

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All first home buyer loans, ranked by score and relevance

We found 384 businesses offering first home buyer loans; 382 met the criteria for the scored directory. The order weighs each business's overall score by how much of its reviewed work is first home buyer loans, so a lower-scored specialist can rank above a higher-scored generalist. Filter and sort below, or open the full map view.

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When you submit an enquiry through this site's forms, we may pass it to one or more partner providers, and we may receive a referral fee for doing so. Our rankings and scores come from our published method only, never from referral fees.

Common questions about first home buyer loans

Does it cost anything to use a mortgage broker for a first home loan?: Most brokers don't charge first home buyers directly. They're paid a commission by the lender once the loan settles, so the service is typically free to you. It's still worth asking upfront whether any fees apply, especially for more complex applications.
How often do first home buyers need to see a broker?: Usually just at the start of the process, for pre-approval and loan selection, and again closer to settlement if your circumstances change. Some buyers check in with their broker again a few years later to review refinancing options once their equity has grown.
What should I expect from the first meeting?: Expect questions about your income, expenses, existing debts, deposit size, and savings history. A broker should give you a realistic borrowing range, explain which government grants or guarantees you might qualify for, and outline a short list of suitable loan products, not just push one option.
How do I judge if a broker did a good job?: Look at whether they explained the full cost of the loan (not just the rate), whether the approval process matched their timeline estimates, and whether they stayed in contact through settlement. The team communication after settlement, rather than disappearing once the deal is done, is a good sign of quality.

Guides to choosing first home buyer loans

First home buyer costs in NSW: stamp duty, LMI and government schemes
What a first home buyer needs to budget for beyond the deposit, and which schemes might reduce stamp duty or let you skip lenders mortgage insurance.
How mortgage pre-approval works and how to get ready for it
What lenders actually check during pre-approval, how long it usually takes, and the preparation steps that stop an application stalling.
Low deposit and guarantor home loans for first home buyers
How guarantor loans and other low-deposit paths work for first home buyers without a full 20% saved, and the real risks a family guarantor takes on.