First home buyer looking to build?

First home buyer looking to build?

Get started with a 2% deposit and no LMI*

By selecting a house and land package with one of our partner builders and combining it with a HomeStart Loan or Graduate Loan, you could reduce your upfront costs to get into your new home, sooner.

With a house and land package you can choose one of many standard or customised home designs at the same time you purchase the land.


Who are HomeStart’s partner builders?


1300 724 663

1300 786 773

(08) 8100 0999

Weeks Building Group
1800 493 357

Statesman Homes
(08) 8366 0080

Fairmont Homes logo
(08) 8112 3112

(08) 8206 8300

(08) 8463 1221

SA Housing Centre
1300 730 187

Sterling Homes
(08) 8340 1115

Rivergum Homes
1800 675 706


Please note this information does not constitute financial advice. It is the purchaser’s responsibility to seek advice as to whether a house and land package suits their financial situation and needs.


Who is eligible for the 2% deposit construction loan?


To be eligible for the 2% deposit with a Homestart Loan or Graduate Loan you will need to meet the following requirements:

  • First home buyer/s who will live in the home for residential purposes

  • Australian citizen or permanent resident

  • Take out a house and land package with a Partner Builder

  • Building your home in metropolitan Adelaide and some regional areas across Adelaide.

How to apply?


Explore house and land packages with our Partner Builders and get in touch with them directly to discuss HomeStart's low upfront cost home loan options or get in touch with HomeStart for more information.


Features and benefits


Our construction loan options for first home buyers are available through our Homestart Loan or Graduate Loan. Each loan is tailored to suit different individuals’ circumstances. 

  • Reduce the amount you need upfront for your deposit with First Home Owners Grant and Stamp Duty Relief
    First home buyers may be eligible for the $15,000 First Home Owners Grant (FHOG) if you buy a new home or build (contracts up to $650,000). We will help you apply for this grant, which can be put towards your deposit, fees and charges. Go to Revenue SA to find out more.

    Just remember, if you're choosing to buy land first and build later, you won't get your First Home Owner Grant until your slab is poured on your new home.
  • Pay no loan repayments for 12 months or until your home is built, whichever comes first.
    When you combine a Homestart Loan with a house and land package from one of our partner builders, you can choose no loan repayments for the first 12 months or until construction is complete, whichever comes first. 
  • Fixed price and construction period
    Our partner builders will commit to a fixed price, prior to approval of your loan of your new home, as well as committing to complete the build within a specified time. 
  • Less progress draws
    Builders usually claim 6 progress payments (drawdowns) for the work completed during the construction process.  Each payment adds to the interest cost of the loan. When you combine a Homestart Loan or Graduate Loan with a house and land package from one of our partner builders there are usually only 3 progress payments, which could save you thousands in interest.
  • Boost your borrowing power
    If you meet HomeStart’s eligibility requirements, you may qualify for a subsidised or fee assistance loan that can boost the amount you can borrow, so you can get the home you want, sooner. Find out more at our home loans.

What if I don’t want a house and land package with a partner builder?


You can purchase your land and choose your own builder. Or you can select a house and land package with other licensed builders through our Graduate Loan or Homestart Loan. Start with as little as 5% deposit plus upfront costs to build for a Graduate Loan and 8% deposit plus upfront costs to build with a Homestart Loan.

If you're a first home buyer, you may still be eligible for the First Home Owner Grant and Stamp Duty Relief. Check eligibility with Revenue SA.