Think owning a home is out of reach because you don’t have a huge deposit saved? You’re not alone.
Many first-home buyers in Perth feel stuck renting (or living with their parents’), thinking they need 20% upfront to get started. But here’s the reality—low deposit home loans are designed to help buyers like you enter the property market sooner. There are a number of different options available, which can be the game-changer that gets you the keys to your first home faster.
We’ve helped countless buyers start building their own home with little to no deposit. No confusing bank jargon, no wasted time—just straight-up, expert guidance.
Ready to stop renting and start owning? Let’s break it all down—how low deposit home loans work, what to the requirements are, and how you can take advantage of them to get into your own home sooner.
Family Home Guarantee
This government incentive helps single parents get into (or back into) the property market. Single parents or legal guardians are able to buy a home with a deposit of just 2%. The Government will then guarantee the remaining 18%. This means no Lenders Mortgage Insurance, which we know can be a barrier for people building their own home.
Family Guarantee (Guarantor)
Your parents (or grandparents, or siblings) can help you get a home loan by using equity from their home as a guarantee against your loan. Equity is the difference between the property value and the home loan amount.
Your family doesn’t need to give you money for a deposit or assist with home loan repayments. Usually, the lender will register 80% of the home loan against your new home and the remaining 20% against the guarantor’s existing home which means the guarantee is limited and your family is protected.
Once you have enough equity in your property (either through growth in house values, paying off the home loan, or a combination of both), you can remove the guarantee.
Unsure if now is the right time?
If you’re not eligible just yet, that doesn’t mean homeownership is off the table. Our team will help you set savings goals, create a strategy to pay down debt, and give you expert advice so you can get there faster—way sooner than if you were figuring it all out on your own.
We’re here to guide you every step of the way, so when the time comes, you’ll be ready to make your move with confidence.
Do I qualify?
Just add your details to the calculator below, and our in-house finance team will crunch the numbers to see what’s possible for you. We’ll assess your eligibility and guide you through the home loan application process to secure the right loan—so you can step into homeownership sooner!
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We invest in relationships with our developer partners, from Australia’s largest master-planned communities to small boutique developments, providing you with the largest selection of land from Two Rocks to Mandurah, all the way down to the Margaret River, and everywhere in between.
Stamp duty, also known as transfer duty, is a tax that applies to all property and land purchases or transfers. However, when you build a home, you do not pay stamp duty on the house, as there’s no transfer taking place. You only pay stamp duty on the block of land you purchase.
In Western Australia, first home buyers do not pay stamp duty on land purchased up to the value of up to $450,000. For land purchased between $450,000 and $550,000, there are concessions available, which reduce the amount of stamp duty payable.
This is something to consider when deciding between building your first home or buying an established one – it could result in significant savings.
Building a new home involves a lot of moving parts: from finding land and choosing a design, to comparing builders, understanding contracts, and managing costs. For most buyers, it’s unfamiliar territory.
A building broker helps you make sense of it all.
Just like a mortgage broker compares lenders, a building broker compares builders, helping you navigate the process with less stress and better outcomes.
People choose to work with a building broker because they want:
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Independent advice – not recommendations based on a builder’s bottom line.
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More builder and design choices – without having to shop around or be stuck with what one builder has on offer.
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Clarity on pricing and inclusions – including hidden costs that might catch you off guard.
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Guidance on timelines, contracts and the process – transparent and explained in plain language.
- Support from start to finish – from planning to key handover.
It’s about saving time, money, and hassle, while gaining confidence in your decisions.
Your new home journey deserves a better buying experience.
There is a type of loan that is specifically designed for house and land packages. It’s called a construction home loan, and it works a bit differently than a loan for an established property.
When you settle on the land, the lender won’t give you all of the funds from the loan. Instead, they’ll partially draw your home loan and release some of the funds to purchase the land. The remaining funds will be held by the lender and used to pay the builder’s progress claims as you reach certain milestones during construction.
Because of this, during the construction phase, your repayments will be reduced as you’ll only be required to pay the interest. Once your home loan is fully drawn (meaning you’ve paid the builder in full and received your keys), you’ll start making principal and interest payments.
Going straight to a builder often means you’re only seeing one option. Their homes, their pricing, their terms.
A building broker works differently. We act as your advocate, comparing multiple builders and designs to help you find the best fit for your needs, goals, and budget.
Here’s why people choose a broker over going it alone:
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More choice: We compare a wide range of builders and floorplans — not just one catalogue.
- Peace of mind: Rely on the people in the know, who have vetted builders and selected those who will deliver.
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Impartial advice: We’re not tied to any one builder, so our guidance is genuinely in your best interest.
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Better deals: With insider industry knowledge, we can negotiate inclusions, price holds, build times and more.
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Clarity and confidence: We explain contracts, flag hidden costs, and break down the fine print so nothing catches you off guard.
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Ongoing support: From land sourcing to key handover, we’re by your side the whole way. We’re your property partner for life, after all.
Put simply: you get more value, less stress, and a better build experience when you have an expert in your corner.
So, how do you decide on the budget for your first home? Determining your borrowing capacity for your first home involves several factors that assess your ability to meet home loan repayments. The process is crucial for banks and lenders to ensure responsible lending practices. Here’s what they typically consider:
- Income
- Assets
- Debts
- Living expenses
- Credit score
- Property value
- Type of home loan
- Deposit amount
No, it doesn’t cost you a cent more.
Building brokers, like us, are paid by the builder – the same way a sales rep working at a builder would be. The difference? We work for you, not them.
Instead of pushing one builder’s product, we compare a panel of trusted builders who have been handpicked for their quality, reliability, and customer care. We constantly review this panel to ensure they’re still delivering on time, to standard, and without overpromising and taking on too much work (because this will hurt your build experience in the long run).
So while the builder pays us, our loyalty is to you.
Yes! Locale helps you stack the 5% Deposit Scheme (previously known as the First Home Guarantee (FHBG), stamp duty concessions, and even our Deposit Boost with the scheme.
Eligibility criteria apply.
What our clients say
I highly recommend! Locale Homes! My husband and I decided to look at building our first home. With so many companies out there offering you the world, Locale stood out to us the most. A one-stop shop for all things home and land.
My Fiancé and I are currently in the process of building our first home together, Pryncess has truly made this experience much easier with her guidance and positive attitude. As we are first home buyers we have little knowledge about building a home. Pryncess ensured we know exactly what is going on and presented it in a way that helped us understand the full process. She has also kept us in the loop with absolutely everything that has gone on, and has consistent communication with us to make sure we are happy with everything and letting us know about any updates, next steps, etc which we have really appreciated.
I couldn’t be happier with the experience. Pyncess did a phenomenal job. From start to finish, Pyncess was incredibly helpful, knowledgeable, and patient. She answered all my questions and made the entire process smooth and stress-free. Thanks to her, I found the perfect home that meets all my needs.
Locale homes has been awesome to deal with and Ivano has been an absolute star, from explaining every little detail to dealing with builder issues as they arise. If I were to build again I would definitely be giving Ivano a call.
As first-time homebuyers, we were initially overwhelmed by the market, but everything changed when we met Locale Homes. From our very first meeting, Callum was prompt, professional, and transparent, thoroughly explaining the ins and outs of House and Land Packages. His honest approach and clear guidance made us feel comfortable and informed throughout the decision-making process.
His attention to our needs and constant availability to answer questions which I asked a lot (me being a stress head) made the process smooth and reassuring. Callum’s support was invaluable, and we highly recommend him to anyone looking to build their home.
Quentin and the team at Locale Homes have been so amazing, they have advocated and supported us through the early stages of our new home being built. Quentin has been our right hand man in everything, he was been available day and night and is able to answer all our questions. Quentin has ensured we have been prepared, and organised for the next step every time. He ensures he goes above and beyond for his clients and makes us feel so heard and advocated for.
We would 100% recommend Quentin and Locale Homes and we will be using them again for future builds.
