Yes, but you may have to pay LMI or find a lender with a low-deposit option, like the First Home Guarantee.

No, but the higher your score, the better your chances of approval and getting a lower interest rate.

You apply through your state’s revenue office, either directly or through your lender.

Consider your deposit, stamp duty, legal fees, inspections, loan application fees, and ongoing costs like rates and insurance.

Improve your credit score, reduce debts, save a larger deposit, and provide proof of a stable income.

Stamp duty varies by state and depends on the property price and whether you are a first-home buyer. Some states offer exemptions or discounts for first-timers.

The First Home Owner Grant (FHOG) offers up to $10,000 to eligible first-home buyers. There are also stamp duty concessions in some states.

Pre-approval is a conditional agreement from a lender about how much they’ll lend you. It shows sellers you’re serious and ready to buy.

The First Home Guarantee allows eligible first-home buyers to purchase a property with a deposit as low as 5% without paying LMI.

Think about your long-term financial stability, job security, lifestyle needs, and future goals before committing.