In short: GNT Finance is a Victorian mortgage broker based in Mickleham, Melbourne, serving the whole state by phone, video and e-signature. We compare lenders across a national panel and apply Victoria's first home buyer duty exemption, the $10,000 First Home Owner Grant and the First Home Guarantee ($950,000 cap in Melbourne and Geelong, $650,000 elsewhere). No cost to you for our home-loan service in most cases.
Victoria has one set of state rules, but the property market inside it is really several markets. Melbourne's growth corridors, the Geelong and Surf Coast lifestyle belt, the goldfields cities, the Murray towns and the Gippsland valley all price differently, attract different lenders and qualify for different scheme caps. This page covers the whole state; our Melbourne mortgage broker page goes deeper on the capital.
Where we work in Victoria
Our office sits in the City of Hume, and Melbourne's north is where most of our clients live. Beyond the city we work with buyers and owners across regional Victoria by phone and video, with the same lender panel and the same process. Pick your area:
- Melbourne: Mortgage broker Melbourne, plus suburb pages from Craigieburn and Wollert in the north to Tarneit in the west, Clyde North in the south-east and Frankston on the bay.
- Geelong and the Surf Coast: Geelong, which shares Melbourne's $950,000 guarantee cap.
- Goldfields and central Victoria: Ballarat and Bendigo.
- Goulburn Valley and the Murray: Shepparton, Wodonga and Mildura.
- Gippsland: Traralgon and the Latrobe Valley.
- South-west: Warrnambool and the Great Ocean Road.
Melbourne versus regional Victoria: the two price caps
The single most important number for a Victorian first home buyer using the federal First Home Guarantee is the price cap, and it depends on where the property sits.
| Area | First Home Guarantee price cap | Deposit needed | LMI |
|---|---|---|---|
| Melbourne (capital city area) and Geelong | $950,000 | 5% | None under the guarantee |
| Rest of Victoria (Ballarat, Bendigo, Shepparton, Mildura, Warrnambool, Traralgon, Wodonga and all other regional areas) | $650,000 | 5% | None under the guarantee |
Since October 2025 there is no income test and no limit on places, so eligibility comes down to being an Australian citizen or permanent resident, 18 or over, buying to live in and not having owned property in Australia in the last 10 years. The $650,000 regional cap sounds restrictive, but it covers the large majority of regional Victorian houses. Where it does not, a low-deposit loan with LMI or a guarantor loan is the alternative. Check your position in the First Home Guarantee eligibility calculator.
Victorian grants and duty relief that apply state-wide
Unlike the guarantee cap, the state concessions do not distinguish between Melbourne and the regions. The same rules apply in Mildura as in Mickleham.
| Concession | Rule (at the time of writing) |
|---|---|
| First home buyer duty exemption | Full exemption on homes up to $600,000; sliding concession from $600,001 to $750,000; must be your principal place of residence for 12 months |
| First Home Owner Grant | $10,000 for a new home (never previously occupied) valued up to $750,000; live in it for 12 continuous months starting within 12 months of settlement |
| Principal place of residence duty concession | Reduced duty on owner-occupied homes between $130,001 and $550,000 for buyers who are not first home buyers |
| Off-the-plan duty concession | Temporary concession for apartments and townhouses, available to all buyers including investors, ends 20 October 2026 |
| Help to Buy | Federal shared equity: government contributes up to 40% of a new home or 30% of an existing one; 2% deposit; income caps $100,000 single, $160,000 couple; Victorian price cap $950,000 |
Regional Victoria's duty and grant rules are the same as Melbourne's at the time of writing, so a regional buyer's advantage is simply that more homes sit under the $600,000 exemption threshold. Confirm the current thresholds at sro.vic.gov.au and read our guides on the first home buyer duty rules, the First Home Owner Grant and Help to Buy.
Worked examples: Melbourne and regional Victoria side by side
A $580,000 house in Bendigo, first home buyer
- Duty: nil under the first home buyer exemption. The general rate would be $2,870 plus 6% of $450,000, or $29,870.
- Deposit under the First Home Guarantee: 5%, or $29,000. No LMI.
- Loan: $551,000. For illustration, at 6.00% p.a. over 30 years the repayment is about $3,304 a month.
A $900,000 house in Craigieburn, first home buyer
- Duty: full duty applies because the price exceeds $750,000. The price falls in the $130,001 to $960,000 band, so duty is $2,870 plus 6% of $770,000, or $49,070.
- Deposit under the First Home Guarantee: 5%, or $45,000, because Melbourne's cap is $950,000. No LMI.
- Loan: $855,000. For illustration, at 6.00% p.a. over 30 years the repayment is about $5,126 a month.
The Bendigo buyer needs roughly $29,000 plus conveyancing; the Craigieburn buyer needs roughly $94,000 plus conveyancing. Run your own figures in the stamp duty calculator and the upfront costs calculator.
Lending across Victoria: what lenders look at
Lender policy is set by postcode and property type, and Victoria's variety means it matters:
- Growth-corridor house-and-land in Melbourne's north, west and south-east is well understood by every lender, and construction loans with progress payments are standard.
- Inner Melbourne apartments can attract lower maximum LVRs, particularly small studios and high-density towers. See buying off the plan.
- Regional cities such as Ballarat, Bendigo, Geelong and Shepparton are treated as standard residential by most lenders.
- Small towns and rural blocks may hit acreage limits, lower LVR caps or a need for a specialist lender. Tell us the address early.
We handle self-employed loans for farmers, tradespeople and regional business owners, investment property loans for Melbourne investors buying regionally, and refinancing anywhere in the state.
Victorian taxes owners should know
Victoria's land tax starts at a $50,000 land-value threshold for investment and holiday properties, with your principal place of residence exempt. Vacant residential land tax applies state-wide, and foreign purchasers pay an additional 8% duty plus a 4% absentee owner surcharge. These matter for investors, holiday-home owners in Lorne or Bright, and anyone keeping a former home as a rental. Our land tax calculator and land tax explained page cover the detail.
Why regional Victorians use a Melbourne-based broker
A broker in Mickleham cannot walk you through a Shepparton open home, and you do not need us to. What you need is the whole lender panel, someone who knows the Victorian rules cold and answers the phone, and a loan structured properly. Nepali-speaking service is available across the state, which matters for the growing communities in Shepparton, Bendigo and Ballarat as much as in Melbourne's north.
Frequently asked questions
Which Victorian towns count as "Melbourne" for the First Home Guarantee?
Housing Australia uses the ABS capital city boundary for Melbourne, plus Geelong, for the $950,000 cap. Outer suburbs such as Melton, Sunbury, Pakenham and Cranbourne fall inside it. Ballarat, Bendigo, Shepparton and all other regional centres fall under the $650,000 cap. If your target town is near the edge, ask us or check the postcode tool at housingaustralia.gov.au before you set your budget.
Is the First Home Owner Grant higher in regional Victoria?
Not at the time of writing. The Victorian grant is $10,000 for a new home valued up to $750,000 wherever it is built. A higher regional grant existed in the past and is sometimes still quoted online, so check the State Revenue Office for the current figure. What regional buyers do get is more new homes and land under the $600,000 duty exemption threshold.
Can I buy in regional Victoria and keep working in Melbourne?
Yes, and lenders do not mind where you work as long as your income is verifiable. Practical questions are about the property, not the commute: standard residential in a regional city is straightforward, while acreage, unusual construction or a very small town may narrow the lender choice. We check the address against lender policy before you make an offer.
Do I pay stamp duty on a house-and-land package in Victoria?
Duty is charged on the land value only when you sign a land contract and a separate build contract, which is why house-and-land packages can be cheaper on duty than an established home at the same total price. First home buyers get the exemption or concession on the land, and the $10,000 grant applies to the new home if the total is under $750,000. See house and land packages.
How much deposit do I really need in Victoria?
Under the First Home Guarantee, 5% of the price plus conveyancing and moving costs, because duty is nil for first homes up to $600,000 and LMI is waived. Outside the guarantee, most lenders want 5% to 10% with LMI, or 20% without it, and genuine savings of 5% held for three months. Our deposit guide sets out the options.
Do you charge regional clients more for remote service?
No. Our home-loan service is at no cost to you in most cases regardless of where in Victoria you buy, because the lender pays us a commission when the loan settles. We disclose that commission in our credit guide, and our Best Interests Duty means we recommend the loan that suits you, not the one that pays most.
Talk to GNT Finance
Whether you are buying your first home in Ballarat, building in Wollert, refinancing in Warrnambool or investing in Geelong, we will compare the lenders, apply every Victorian concession you qualify for and manage the application to settlement. Book a free consultation or call 0426 403 703.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.