First Home Buyer Mortgage Broker in Melbourne

Capkon helps Melbourne first-home buyers understand borrowing capacity, deposits, government schemes and suitable lender options — with guidance in plain language.

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How we help first home buyers

We simplify the complex process of buying your first property.

Your Pathway to Property

A transparent, compliant, and stress-free process tailored for Melbourne locals and migrants.

Buying Your First Home in Melbourne

Buying your first home is a major milestone, but the lending process can feel overwhelming — especially if you're new to the Australian system. Capkon Melbourne, based in Glenroy, helps first-home buyers across Melbourne understand borrowing capacity, deposits, government schemes and lender options so you can move forward with confidence.

How Much Can You Borrow?

Your borrowing capacity depends on your income, expenses, debts, the size of your deposit and the lender's assessment rate. Lenders also apply a serviceability buffer to ensure you could manage repayments if rates rise. We model your borrowing power realistically so you know what price range to shop within. Try our borrowing power calculator for a quick estimate.

How Much Deposit Do You Need?

A 20% deposit typically helps you avoid Lenders Mortgage Insurance (LMI), but many lenders accept a smaller deposit. Some government guarantee schemes may allow eligible buyers to purchase with a lower deposit without LMI. A smaller deposit means a larger loan and higher repayments, so we help you balance deposit size against your ongoing budget.

First Home Buyer Grants & Government Schemes

Victoria offers programs such as the First Home Owner Grant for eligible new homes and stamp duty concessions for eligible buyers. Federal guarantee schemes may also help eligible first-home buyers enter the market with a lower deposit. Scheme rules, thresholds and eligibility criteria change over time, so we confirm what currently applies to you during your consultation. Read our guide to first home buyer grants in Victoria for an overview.

Understanding Lenders Mortgage Insurance

Lenders Mortgage Insurance (LMI) is a one-off premium that protects the lender — not you — when your deposit is below 20%. It can be added to your loan or paid upfront. We help you weigh the cost of LMI against the benefit of buying sooner, and explore alternatives like government guarantee schemes where you may be eligible.

Home Loan Pre-Approval

Pre-approval is a lender's conditional indication of how much you may be able to borrow, based on an initial assessment of your finances. It helps you shop within a realistic budget and signals to agents that you're a serious buyer. Pre-approval is not a guarantee of final approval — the lender still needs to assess the property and your updated circumstances before unconditional approval.

Choosing and Comparing Home Loans

Home loans vary in rate, fees, features and eligibility. Some offer offset accounts and redraw facilities; others are simpler and cheaper. Fixed, variable and split loans each suit different goals. As your broker, we compare options across our panel of lenders and explain the trade-offs in plain language, so you can make an informed choice rather than comparing rate alone.

Costs First Home Buyers Should Prepare For

Beyond the deposit, budget for stamp duty (where applicable), lender and government fees, conveyancing, building and pest inspections, and moving costs. Some of these may be reduced or waived for eligible first-home buyers. We provide a tailored cost estimate so there are no surprises. Use our stamp duty calculator to estimate government charges.

Frequently Asked Questions

Common queries from our first home buyers in Melbourne.