Why First-Home Buyers Use a Mortgage Broker (And What’s Changed in 2026)
Remember the first time you stepped into a gym? It’s unlikely you swaggered over to the free weights and started busting out squats. Buying your first home can feel just as daunting. And the numbers back that up, a growing number of first-home buyers are choosing to work with a mortgage broker rather than go it alone.
When it comes to financial decisions, they don’t come much bigger than buying a home. So it’s no wonder plenty of first-home buyers feel a mix of nerves and excitement.
How many first-home buyers actually use a mortgage broker?
For a while, the headline stat in this conversation was that most first-home buyers said they were likely to use a broker. That’s still true. But the more telling number is how many actually do.
Helia’s most recent Spotlight survey (early 2025) found that almost two-thirds of first-home buyers used a mortgage broker to get onto the property ladder, up from just over half the year before. That’s a real, measurable shift in behaviour, not just intention.
Buyers also told Helia why they’re choosing a broker. “Experience and knowledge” is now the number one reason, cited by almost half of respondents, up sharply from the year before. Access to better deals, an easier application process, and word-of-mouth recommendations from friends and family round out the list.
At the same time, the pressure buyers are under hasn’t eased. Most first-home buyers say saving a deposit is harder than it’s ever been, and the majority are actively looking at alternative pathways into the market because a traditional 20% deposit is out of reach for many.
Put those two things together, and the pattern is clear: as the path to a first home gets more complicated, more buyers are bringing in a broker to help them find a way through it.
What does a mortgage broker actually do for a first-home buyer?
Finding a home you like is just part of the equation. Identifying a home loan that’s right for your needs, at a competitive rate, completes the picture, and without the right guidance, that part can be harder than it looks.
Many first-home buyers say they find it genuinely difficult to research which loans suit them, and most expect some kind of challenge in getting the loan they need. This is exactly where a broker earns their place in the process.
A mortgage broker will typically:
- Get to know your financial situation, then narrow the field to home loans that actually suit your needs, not just the ones with the loudest advertising
- Explain what lenders are looking for when they assess a loan application
- Tell you honestly whether you’re loan-ready now, or map out the steps to get you there
- Stay in touch through pre-approval, settlement and beyond — not disappear once the paperwork’s signed
The benefits of using a mortgage broker go beyond the loan itself
The value of a broker goes well beyond landing a home loan. First-home buyers consistently say brokers help them:
- Understand their financial situation and true borrowing power
- Navigate a complex, often overwhelming process with real support and expertise
- Save time and effort they’d otherwise spend piecing it together themselves
We can also draw on our experience to point you toward strategies and schemes you might not have considered.
What’s changed with the First Home Guarantee scheme in 2026
If you looked into the government’s 5% deposit scheme a while ago and it didn’t stack up, it’s worth another look, it’s changed significantly.
No more income cap.
The First Home Guarantee used to have income limits that ruled some buyers out. As of October 2025, that cap is gone. Eligibility is no longer tied to how much you earn.
No more scramble for a spot.
The scheme used to run on a limited annual number of places, which meant a rush each year to secure one. That cap has also been removed, so there’s no race against the clock to get in before places run out.
Higher property price caps.
The maximum purchase price you can use the scheme for has been lifted substantially in most areas, opening up properties and suburbs that were previously out of reach under the old caps.
A new option: Help to Buy.
Alongside the First Home Guarantee, there’s now a shared equity scheme where the government can contribute a meaningful share of the purchase price in exchange for part-ownership, reducing the size of the mortgage you need. It works differently to the First Home Guarantee and the two can’t be combined, but it’s another genuine pathway worth understanding.
There are still ways into home ownership beyond government schemes too, rentvesting, or having a close relative act as guarantor on your loan, remain worth considering depending on your circumstances. Rentvesting in particular can open up new suburbs to buy in, while letting you live where you actually want to.
FAQs: mortgage brokers for first-home buyers
Do most first-home buyers use a mortgage broker?
Yes. Recent industry survey data shows almost two-thirds of first-home buyers used a mortgage broker to secure their loan, and the proportion has been rising year on year.
Why do first-home buyers choose a broker over going direct to a bank?
The top reason buyers give is experience and knowledge of the lending landscape, followed by access to better deals, an easier application process, and support through a process many find overwhelming.
Is a mortgage broker free for first-home buyers?
Brokers are typically paid a commission by the lender, not the borrower, so there’s usually no direct cost to you for using one.
Can a mortgage broker help with the First Home Guarantee or Help to Buy?
Yes. Both schemes are accessed through participating lenders rather than directly through Housing Australia, and a broker can confirm your eligibility and match you with a lender that has a place available.
Every pathway suits different circumstances, and a lot has changed recently, which is exactly the kind of thing worth talking through with a broker before you rule anything in or out.
Get in touch with us today to find out more.Book a FREE consultation with one of our brokers.