Stop Paying $2,600/Month in Rent. Buy Your First Home in SA With Just $40,000 (Not $160,000).

Here's What Waiting 'Until You're Ready' Actually Could Cost You

Every month you wait to "save more deposit":

• ❌ You pay $2,600 in rent ($31,200/year to your landlord)

• ❌ Adelaide property prices rise 5-7% ($40,000-$56,000/year in missed equity)

• ❌ You fall further behind (the deposit target keeps moving)

Real potential cost of waiting 3 years:

• Rent paid: $93,600

• Equity missed: $180,000

• Total opportunity cost: $273,600

And at the end of those 3 years? You still don't own anything.

(All figures are indicative only)

The 20% Deposit Rule Died in October 2025. Here's What Replaced It.

For 40 years, Australians were told: "Save 20% or pay brutal Lender Mortgage Insurance (LMI) penalties."

Then the government changed the rules.

Now:

• ✅ Buy with 5% deposit (First Home Guarantee)

• ✅ Zero LMI on properties up to $900K for Adelaide

• ✅ 35,000 spots allocated to SA buyers each year.

The problem? Your bank hasn't told you about this yet.

Because they'd rather you:

• Keep renting (and saving with them)

• Take longer to buy

• Pay them LMI when you finally do

We show you the shortcuts they won't.

Here's Exactly What Happens When You Book A Call With Lender Edge

We don't sell you a loan. First off, we ask 5 questions:

1. Your household income

2. Current savings

3. Target property price

4. Any existing debts

5. When you want to buy.

Then we take that information and run those numbers against the 35+ lenders on our panel. We show you your options, you decide if it makes sense.

We show you:

• ✅ Your exact borrowing capacity (across 35+ lenders, not just CBA)

• ✅ Minimum deposit required (Around $50K for $800K property)

• ✅ Every SA grant and exemption you could qualify for ($15K-$50K in SA)

• ✅ Your actual monthly repayment (so you know if it's affordable).

There are no costs for this service and no obligation.

Then you can decide:

• Buy now with our help

• Wait 6-12 months and save more

• Don't buy at all

We're fine with any answer. Our job is to show you the truth, not to sell you.

Next step?

Book a 15 min Discovery Call to discuss your plans, OR

Want to fast track things? Use the Scenario Request option and send us some of your information and we can move forward proactively.

Some Common First Home Buyer Questions

Q: How much deposit do I actually need to buy my first home in South Australia?

You can buy with as little as 5% deposit in South Australia. If you qualify for the First Home Guarantee scheme, the government guarantees the difference between your deposit and 20%, which means you avoid paying Lenders Mortgage Insurance entirely. On a $600,000 home, that means you need $30,000 rather than $120,000. We will assess your full financial picture, including any grants you qualify for, and show you the most realistic path to getting your deposit together.

Q: What grants and schemes are available for first home buyers in SA in 2026?

South Australia offers several forms of support. The First Home Owner Grant provides $15,000 for eligible buyers purchasing or building a new home. The First Home Guarantee scheme lets you buy with a 5% deposit without paying LMI. There are also stamp duty concessions: properties up to $650,000 may qualify for a full exemption, with partial relief available up to $700,000. The First Home Super Saver Scheme lets you withdraw voluntary super contributions (up to $50,000) to put towards your deposit. Eligibility criteria apply to each of these, and we check your qualification as part of our initial consultation at no cost.

Q: Can I buy a house in Adelaide if I only earn $70,000 a year?

Yes, it is possible. Your borrowing capacity depends on more than just your salary. Lenders also look at your living expenses, existing debts, credit history, and the size of your deposit. On a $70,000 income with minimal debts and a 5% deposit, some lenders may approve you for a property in the $350,000 to $450,000 range, depending on your circumstances. We compare across 35+ lenders because each one assesses borrowing capacity differently, and the difference between the lowest and highest approval amount can be significant.

Q: What is Lenders Mortgage Insurance and can I avoid paying it?

Lenders Mortgage Insurance (LMI) is a one-off premium you pay when your deposit is less than 20% of the property value. It protects the lender (not you) if you default. On a $500,000 loan with a 5% deposit, LMI can cost $15,000 or more. You can avoid it by using the First Home Guarantee scheme (if eligible), by having a family member act as guarantor, or by saving a full 20% deposit. We will always show you the LMI cost upfront and whether there is a realistic way to avoid it in your situation.

Q: Should I get pre-approval before I start looking at properties?

Yes. Pre-approval tells you exactly how much a lender is willing to lend you based on your current financial situation. It gives you a firm budget, prevents you from falling in love with a property you cannot afford, and makes you a more credible buyer in the eyes of agents and sellers. Pre-approvals typically last 90 days and can often be arranged within 24 to 72 hours. We handle the entire application and present it in the strongest possible way to the lender.

Q: What documents do I need to apply for a home loan as a first home buyer?

You will generally need: proof of identity (passport or driver’s licence), your last two payslips or most recent tax returns if self-employed, bank statements from the last three months showing your savings history, details of any existing debts (credit cards, personal loans, HECS/HELP), and a summary of your regular living expenses. If you are applying with a partner, both parties need to provide their own documents. We provide a checklist at the start of the process so nothing gets missed.

Q: Is it better to use a mortgage broker or go straight to my bank for my first home loan?

When you go directly to a bank, you see only that bank’s products and rates. A mortgage broker compares products from 35 or more lenders, including specialist lenders that only work through brokers. We are also legally required under Best Interests Duty to recommend the loan that genuinely suits your needs, not the one that pays us the highest commission. Our service costs you nothing; the lender pays our fee when your loan settles. For first home buyers especially, having someone who can navigate grants, LMI, and lender policies across the full market is a significant advantage.

Q: How long does it take to buy a house from start to finish?

The timeline varies, but a typical first home purchase in South Australia takes around 8 to 12 weeks from your first conversation with us to settlement. Pre-approval can come through in 24 to 72 hours. Once you find a property and sign a contract, formal approval usually takes one to two weeks, and settlement is typically 30 to 60 days after exchange. We keep the process moving and flag any potential delays early.