Buying your first home
Buying your first home can be a mix of emotions. We'll guide you at every step, so you'll have all the enjoyment and less of the stress.
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Simple to get started
Found the perfect property? You could get conditional approval in just 1 business day.
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A local lender
Get help from start to settlement. Apply online or connect by phone, video, or in person
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Flexible loan options
Fixed, variable, or split rate home loan with features to match your lifestyle and financial goals.
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Award winning App
Upload and accept documents in the Westpac App[#], plus manage your home loan, all in one place.
First home buyer grants & schemes
First Home Owners' Grant
A one-off payment from the federal or state government. It’s usually up to $50,000 depending on your location. You can use it to help buy or build your first home. T&Cs apply.
Find out more
Australian Government 5% Deposit Scheme
On a Westpac home loan, eligible applicants will pay:
- A deposit as low as 2% or 5%
- No Lenders Mortgage Insurance.
This Scheme is available to eligible First Home Buyers and Single Parents. T&Cs apply.
Find out more
Talk to a home lending specialist
We’ll support you at every stage of your home buying journey by making it easy to connect in the way that suits you.
- Tell us who you are, what you'd like to discuss, and how you'd like to meet — video call, phone, in branch or we can come to you.
- Choose a time that works for you and we’ll confirm your booking and who you’ll be meeting.
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Helpful things to know when buying your first home
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How much will you need?
Most lenders want you to have a deposit of at least 20% to buy a home. But if you pay Lenders Mortgage Insurance (LMI), you might only need a 5% deposit.
If you qualify for the Australian Government 5% Deposit Scheme, you could get a home loan with a low minimum deposit of 2% (Single Parents) or 5% (First Home Buyers) and not have to pay for LMI.
Nurse or midwife? You could get a home loan with a 10% deposit, without paying LMI[#]. Minimum earnings $90k/year, T&Cs apply. Find out more.
Check out our First home buyer’s guide
Don't have a 20% deposit?
Find out the other paths to home ownership:
Your repayments and price range
- See how much you could borrow based on your assessable income.
- Estimate your repayments based on loan amount, loan term and interest rate.
- Check how much could you afford to repay.
Our calculators can help you get a clearer idea of what you could afford:
If you're an eligible front-line health or core building trade worker, you could have 100% of your overtime and allowances assessed as income[#].
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Explore what suburbs and properties fit your budget with a free property data report.
Support at every stage
Our home loan specialists can help you every step of the way. You’ll be assigned your home finance manager who’ll progress your application and answer all your questions.
Explore our guides on how to buy a home:
Explore what suburbs and properties fit your budget with a free property data report.
Understanding your loan options
You can choose between a fixed loan, a variable loan, or a mix of both. Also, think about if you want a basic loan or one with more features like offset, which could help you save on interest.
Our home loan specialists can assist, or use our handy resources and tools to help you decide:
Our lowest online variable home loan rate
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Our lowest online variable home loan rate
Check out our online rate discount on our basic variable home loan or investment loan. Apply online, and select a Flexi First Option Owner Occupier or Investment loans with P&I and IO repayments.
Basic variable home loan Online Offer
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Save time, apply online
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Apply online
Apply in 10-20 minutes or save your application and come back later.
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Want to talk to a lender?
Book an appointment at a time and place that suits you.
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Step 1 - Check if you're eligible
You must be:
- An Australian citizen or permanent resident
- Employed or self-employed
- 18 years or over.
Applying with others or switching to us? Learn more
Step 2 - Apply online for your home loan
Get an estimate of your interest rate and monthly repayments by answering a few simple questions. You can also check your borrowing power for a purchase or see how much you could save by refinancing.
We won’t run a credit check until you submit your application, and we’ll let you know before we do. Apply in 10–20 minutes, or save your progress and come back later — you’ll have up to 4 weeks to complete it.
Step 3 - We'll match you with a home loan specialist
Once you submit your application, we'll match you with a specialist and email you their details. They’ll then call to:
- Finalise your interest rate (you may be able to negotiate)
- Review your documents and info
- Answer questions
- Match you with the right loan deal
- Walk you through your next steps
- Help you apply for any applicable government grants or schemes.
Step 4 - Approval and settlement
Pre-approval to buy a property
If everything looks good, you could get a 90-day conditional approval. This is also called pre-approval or approval in principle.
Need more time? You can extend it for another 90 days if you’re yet to find the right property. Just confirm that your financial circumstances haven’t changed.
Full approval and settlement
We’ll value your property and make some final checks. If offered full (unconditional) approval, you can accept the home loan contract online. Then sit back, be guided through loan settlement, and pick up the keys on settlement day.
Track your application – pre-settlement guide
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We're here to help
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Book an appointment
Pick a time and place that suits you to talk to a home loan specialist.
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Book appointment
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Talk with us
8am-8pm, Mon-Fri
9am-6pm, Sat-Sun (Sydney time)
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Call 132 558
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Save time, apply online
Apply in around 10-20 mins to buy a home or refinance to Westpac.
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Start applying
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Things you should know