Why choose CommBank

Expert advice

Connect with an expert Home Lending Specialist, who will help you understand the home loan process and support you every step of the way.

Helping you buy your first home sooner

Additional support and lending options available to help get you into your home sooner, including government guarantee schemes, property share and guarantor support.

Exclusive discounts and offers

Exclusive discounts and offers to support you getting into your first home sooner, such as a fast, contract reviews1 and $699 conveyancing with Home-in for eligible CommBank customers*.

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Buying your first home: where do you start?

We outline six steps worth taking in your home buying journey so you can purchase your first home with confidence.

First home buyer’s guide

Your step-by-step guide to buying property, whether it's a home to live in or an investment for your future.

Manage each step of your home buying journey with Buy a home

Buy a home in the CommBank app gives you access to guidance, tools and insights to help you all the way through your home buying and ownership journey.

From the moment you start saving for your home loan, CommBank's Buy a home can help you through each step of the home buying process. From understanding your borrowing capacity and finding a property to tracking your application and managing your home loan – all from the convenience of the app.

 

Ways to save

  • CommBank supports Home Guarantee Scheme

    We’re proud to work alongside the Australian Government on the Home Guarantee Scheme to help more home buyers reach their home ownership goals.

    Explore schemes

  • Access First Home Owners Grant

    You may be eligible for the First Home Owners Grant as a first home buyer who is buying or building a residential property to live in.

    Check eligibility

  • $699* conveyancing

    Home-in’s experienced team and secure, award-winning app2 will help guide you through the conveyancing process. Built by CommBank and trusted by thousands of Australian home buyers, receive real-time status updates, six-hour contract reviews1, and one of the industry’s best on-day settlement rates3. Plus, eligible CommBank customers can access $699 conveyancing with Home-in*.

    Explore Home-in

  • Set a Home Loan deposit savings goal

    Whether you have a savings goal in mind or want to build a buffer for those ‘just in case’ moments, Goal Tracker in the CommBank app helps you set and reach your goals.

    Discover goal tracker

Getting ready to buy 

Loans & features

Ask a lender if you’re eligible for a further interest rate reduction in addition to LVR and Wealth Package discounts*

Standard Variable Rate home loan

A competitive variable rate home loan with discounts tailored to you, plus access to offset and an extensive range of features.

Everyday Offset Account

Make your money work harder by saving on interest and paying off your home loan sooner with multiple offsets with no set-up fee.

  • Property share

    Split the cost of a home with family or friends, while keeping control of your finances. Available on most home loans.

    Explore more

  • Lenders’ Mortgage Insurance

    Lenders’ Mortgage Insurance allows you to purchase a property with a smaller deposit so you can own your home sooner.

    Explore more

  • Guarantor support

    A family member can help you secure a home loan by mortgaging their own property as additional security.

    Explore more

See all home loan interest rates

Frequently Asked Questions

The First Home Owner Grant (FHOG) in Australia is a national scheme funded by the states and territories and administered under their own legislation. The amount of the grant and eligibility criteria can vary depending on the state or territory in which you intend to purchase your home.

To get more specific details about eligibility criteria for your state or territory, you can visit First Home Owner Grant

Many states offer stamp duty concessions or exemptions for first home buyers.

Click here to learn more about stamp duty and to access CommBank’s Stamp Duty Calculator.

The First Home Owner Grant (FHOG) is a national scheme funded by the states and territories to assist first home buyers with the costs of purchasing or building a new home. While the scheme is national, each state and territory administers it under their own legislation, which means the eligibility criteria and the amount of the grant can vary depending on where you are buying your home.

Generally, the following conditions apply:

  • The grant is only available to first home buyers
  • You can only receive the grant once
  • You must be at least 18 years of age and an Australian citizen or permanent resident
  • You must be a natural person (not a company or trust)
  • You must live in the house for at least six months once it’s built

To get more specific details about eligibility criteria for your state or territory, you can visit First Home Owner Grant.

The amount of money you need to buy a home in Australia depends on many factors, including the location, the type of property, and your financial situation. Here are some key points to consider:

  1. Deposit: Traditionally, a 20% deposit is recommended, but many buyers opt for a lower deposit. Lenders typically expect at least 5% of the property's sale price. For example, a 5% deposit on a $680,000 home would be $34,000. If you need to borrow more than 80% of the value of the property, you may need to pay Lenders’ Mortgage Insurance.
  2. Other Upfront Costs: In addition to the deposit, there are other upfront costs to consider, such as:  
    • Stamp Duty: This varies by state and the value of the property
    • Conveyancing and Legal Fees: These are the costs associated with the legal aspects of buying a home
    • Building and Pest Inspection: It's advisable to have the property inspected before purchase
    • Mortgage Registration Fee: This is a fee for registering the mortgage with the state or territory
    • Transfer Fee: This is the fee for transferring the property title to your name
    • Loan Application Fee: Some lenders charge a fee to process your home loan application
  3. Government Assistance: There are several government schemes to help first home buyers, such as the First Home Owner Grant and the Home Guarantee Scheme, which can reduce the amount of money you need upfront.
  4. Income Requirements: To comfortably afford a home, you need a certain level of income. These will vary from region to region – speaking with a mortgage lender can help you determine the amount you will need to pay in deposit to avoid mortgage stress.

 

The answer depends on many factors, including location, market conditions, and your personal preferences. Building a home can offer unique customisation and means that everything is new, while buying an existing property can be much faster although some minor repairs or renovations may be necessary.

Learn more about the costs of building your own home here.

Choosing between a mortgage broker and a bank for your home loan depends on your needs and preferences. Mortgage brokers can offer a range of loan options from various lenders, and they often source competitive rates on your behalf. However, they don't work with every lender, so it's a good idea to consider the differences and to do your own research too.

The amount you can borrow for a home loan depends on several factors, including your income, expenses, and the lender's policies. To get an accurate estimate, you can use our Borrowing Power Calculator.

It's important to note that different lenders may have varying criteria and policies, so it's a good idea to compare options and seek guidance from a Home Lending Specialist.

Message us 24/7

Get help from Ceba in the CommBank app or connect with a specialist who can message you back. You’ll need CommBank app notifications turned on so you know when you’ve received a reply. 

Message us

Things you should know

  • Subject to credit approval. Fees, charges, terms and conditions apply. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.

    1 Contracts are reviewed within six business hours 95% of the time (October 2023). To ensure contracts are reviewed within six business hours, customers must upload the entire contract within the Home-in app.

    2 We Money - Property Innovation of the Year Award (2024), Customer Service Excellence Award - Customer Service Organization of the Year: Small (2023), Finder Innovation Awards - Best Online Customer Service Innovation (2023).

    3 Home-in has one of the highest on-time settlement rates in the industry with 95% of Home-in customers settling on time in 2023.

    * This offer is valid from 6 May 2025. To secure the offer you will need to engage the services of a Home-in partner law firm via the Home-in app on or after this date. If you engaged the services of a Home-in partner law firm via the Home-in app before this date, you are not eligible for this offer. This offer cannot be combined with other Home-in offers.

    This offer is only available to CommBank customers who meet the following criteria:

    (a) have an eligible CommBank transaction account: Smart Access, Complete Access, Everyday Offset, Pensioner Security (excluding Pensioner Security Passbook accounts) or Private Bank Account; and 

    (b) fund an eligible residential property purchase with a CommBank home loan; and

    (c) settle this property purchase using the in-app legal services provided through Home-in.

    This offer only applies to buy-side conveyancing services for residential property purchases in Australia. Home-in does not offer conveyancing services for the purchase of off-the-plan, rural/agricultural, retail or commercial properties, or properties with a purchase price in excess of $5,000,000. Additional fees apply to conveyancing services in respect of complex titles (such as old system, leasehold and company titles), which are excluded from this offer.

    This offer is only available through CommBank’s proprietary channels, it is not available to customers that originate through Bankwest, Unloan or a broker channel. 

    If you settle on a property without meeting the eligibility criteria, this offer will not apply and you will be required to pay the standard list price for your conveyancing services. If you do not ultimately settle on a property purchase with Home-in within 6 months of your first contract review, any disbursements, contract review fees and ancillary service fees incurred will become payable to Home-in at the standard list price.

    The $699 (including GST) offer includes the following conveyancing services: one standard contract review, reasonable negotiation with the vendor’s solicitor, preparation of documents and figures required for settlement and electronic or paper settlement for your property.

    Disbursements are additional and charged at cost. For some property purchases, you may require or request additional services for which we charge a professional fee, such as expedited settlement or usage of a trust account.

    Find out more about Home-in's pricing by visiting home-in.com.au/pricing. Home-in reserves the right to terminate the offer and change the pricing at any time.

    Home-in is a brand of CBA New Digital Businesses Pty Ltd ABN 38 633 072 830 trading as Home-in Digital. CBA New Digital Businesses Pty Ltd is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. CBA New Digital Businesses Pty Ltd is not an Authorised Deposit-taking Institution for the purposes of the Banking Act 1959 (Cth) and its obligations do not represent deposits or other liabilities of Commonwealth Bank of Australia.