If you’re chasing a first home in Maribyrnong, you’ve probably already noticed the median house price sitting above $1 million. That number scares a lot of buyers off before they’ve even looked at what’s available to them. It shouldn’t. Between the First Home Owner Grant, stamp duty concessions, and the federal First Home Guarantee, most first home buyers here can access tens of thousands of dollars in support – they just don’t stack the schemes correctly, or they rule themselves out based on assumptions that aren’t quite right.
I put this guide together after fielding the same handful of questions from clients buying in Maribyrnong, Footscray, and Sunshine over the past year. It covers what actually applies locally, not a generic national overview.
Where Maribyrnong Sits for First Home Buyers Right Now
Maribyrnong sits about eight kilometres from the CBD, along the river, with Highpoint Shopping Centre and a growing café strip nearby. House prices here have moved a lot – the median sale price for houses is now around $1.05 to $1.1 million, up double digits over the past year in some data sets. Units are a different story: median prices sit closer to $450,000 to $510,000, which changes which government schemes are actually in reach.
That gap matters more than most buyers realise. A house at $1.05 million is above the $950,000 property price cap for the First Home Guarantee in Melbourne, and well above the $750,000 cap for the state grant. A unit at $480,000 clears every threshold with room to spare.
If you’re set on a house in Maribyrnong itself, you may need to widen your search to Braybrook, Sunshine, or West Footscray to make the numbers work with the schemes below – or look at an apartment or townhouse closer to home.
The First Home Owner Grant in Victoria
The First Home Owner Grant (FHOG) is a one-off $10,000 payment from the Victorian Government, administered by the State Revenue Office. A few things trip people up about it:
- It only applies to new homes – never lived in, never sold as a residence, and not previously leased out. This includes new builds, off-the-plan apartments, and substantially renovated homes.
- The property must be valued at $750,000 or less, including land for a house and land package.
- You (and your partner, if you have one) must never have owned residential property in Australia before.
- You need to move in within 12 months of settlement and live there for at least 12 continuous months.
Established homes don’t qualify for the FHOG – full stop. This catches a lot of Maribyrnong buyers out, because most of what’s on the market here is established housing stock, not new builds. If that’s your situation, the grant won’t help you directly, but the stamp duty concession below still might.
Your lender usually lodges the FHOG application for you as part of settlement, so in most cases you don’t need to deal with the State Revenue Office directly.
Stamp Duty: What You’ll Actually Pay
This is where established-home buyers in Maribyrnong get real relief. First home buyers pay no stamp duty on properties valued up to $600,000, and a concessional (reduced) rate applies on a sliding scale for properties between $600,000 and $750,000. Above $750,000, you pay full stamp duty with no first-home-buyer discount.
Given the median unit price in Maribyrnong sits under $600,000, plenty of apartment and townhouse purchases here land in the full-exemption zone. Houses, on the other hand, mostly sit well above the concession band, so factor full stamp duty into your budget if you’re buying an established house.
The First Home Guarantee (5% Deposit, No LMI)
This is a federal scheme, run through Housing Australia, and it’s the one I talk about most with clients. Since October 2025, the income caps and annual place limits were removed, which opened it up to a lot more buyers than before. Here’s how it works:
You can buy with as little as a 5% deposit, and the government guarantees the remaining amount up to 15%, so you skip Lenders Mortgage Insurance (LMI) entirely. On a $700,000 unit, that’s a deposit of $35,000 instead of the usual 20% ($140,000) most lenders want before waiving LMI – and it can save you anywhere from $15,000 to $30,000+ in insurance premiums, depending on your loan size.
The property price cap for Melbourne (including Maribyrnong) is $950,000. That covers the large majority of units and townhouses in the area, and it’s within reach for some houses on the lower end of the market too, though most established houses in Maribyrnong itself will exceed it.
You can use the First Home Guarantee alongside the FHOG and stamp duty concessions – they’re separate schemes from different levels of government, and there’s no rule against combining them if you meet the criteria for each.
Other Schemes Worth Knowing About
A few clients have also found these useful, depending on their situation:
First Home Super Saver Scheme (FHSSS) – lets you make voluntary contributions to your super and later withdraw them (plus deemed earnings) for a deposit, with a tax advantage over saving in a normal bank account. It suits people a few years out from buying who want to build a deposit faster.
Family Home Guarantee – for eligible single parents or guardians, this allows a deposit as low as 2%, with Housing Australia guaranteeing up to 18% of the property value.
Help to Buy – a federal shared equity scheme, launched in December 2025, where the government can co-own up to 40% of a new home or 30% of an existing one, reducing how much you need to borrow. It replaced the Victorian Homebuyer Fund, which closed in September 2025.
Not every buyer needs all of these, and some don’t suit your situation at all – a broker who checks your eligibility against each one before you sign anything will save you from missing out on money you were entitled to.
Loan Options: Picking the Right Structure
Once the grants and deposit side are sorted, the loan structure itself makes a real difference to what you pay over time. A few things worth thinking through:
Variable vs. fixed rate – variable loans move with the market and usually come with more flexibility (extra repayments, redraw, offset accounts). Fixed rates lock in certainty for a set period but often come with break costs if your plans change. Plenty of first home buyers in Maribyrnong split the loan – part fixed, part variable – to get a bit of both.
Offset accounts – a transaction account linked to your loan where your balance reduces the interest charged. Even a modest offset balance can shave years off a 30-year loan.
Comparison rate vs. headline rate – the advertised rate rarely tells the whole story once fees are included. I always walk clients through the comparison rate for that reason.
Genuine savings – most lenders want to see 5% of the purchase price held or saved by you over a genuine period, separate from any gifted deposit. If you’re relying partly on family help, it’s worth structuring that early, before you apply.
Because lenders assess deposit, income, and existing debts differently, the “best” loan really depends on your numbers. I compare options across a panel that includes ANZ, Westpac, NAB, Commonwealth Bank, Macquarie, Resimac, AMP, Bank of Sydney, Pepper Money, and AMFIN, rather than pushing one bank’s product.
Mistakes I See First Home Buyers Make
A few patterns show up again and again with clients buying in this part of Melbourne:
- Assuming the FHOG applies to any purchase, then finding out too late their established home doesn’t qualify.
- Budgeting for stamp duty at the wrong tier because they didn’t realise a house purchase in Maribyrnong usually sits above the concession band.
- Getting pre-approval for a loan amount before checking whether the property price fits under the First Home Guarantee cap, then losing the LMI waiver at the last minute.
- Not accounting for settlement costs beyond the deposit – conveyancing, building and pest inspections, loan fees – which can add several thousand dollars.
None of these are hard to avoid once someone’s walked you through them. That’s really the value of getting the eligibility check done early, before you’re under contract and racing against a settlement date.
Frequently Asked Questions
Can I get the First Home Owner Grant for an established house in Maribyrnong?
No. The FHOG only applies to new homes, off-the-plan purchases, and substantially renovated properties. Established homes don’t qualify, though the stamp duty concession may still apply.
Is Maribyrnong within the First Home Guarantee price cap?
The cap for Melbourne is $950,000. Most units and townhouses in Maribyrnong fall under that, while established houses at the current median of around $1.05 million generally sit above it.
Can I combine the FHOG, stamp duty exemption, and First Home Guarantee?
Yes. They come from different levels of government and can generally be used together, provided you meet the eligibility criteria for each one.
Do I need a large deposit to buy in Maribyrnong?
Not necessarily. With the First Home Guarantee, eligible buyers can purchase with a 5% deposit and avoid LMI, subject to the property price cap and lender approval.
How do I find out which schemes I actually qualify for?
The eligibility rules interact, and getting one wrong can cost you thousands. A mortgage broker can check your situation against the FHOG, stamp duty concession, and federal schemes together, rather than you piecing it together from separate websites.
Talk to a Local Mortgage Broker
Grants and schemes change, and price caps get reviewed regularly, so it’s worth confirming current settings before you sign a contract. If you’re buying in Maribyrnong, Footscray, Sunshine, or anywhere else across Melbourne’s inner west, Ace Finance Solutions offers a free consultation to check exactly what you’re eligible for and compare loan options across our lender panel.
Call 0402 930 280 or email dat.hoang@acefinancesolutions.com to get started.
This article is general information only and doesn’t take into account your personal financial situation. Grant amounts, price caps, and eligibility rules are set by the State Revenue Office of Victoria and Housing Australia and are subject to change – always confirm current settings before signing a contract.
