Buying Your First Home on a FIFO Roster: What to Know in WA
You work away and want to buy your first home. Here is how the 5% Deposit Scheme, price caps, moving in and showing roster income work for first home buyers in WA.
The short version
- The Australian Government 5% Deposit Scheme lets eligible first home buyers buy with as little as a 5% deposit, without paying lenders mortgage insurance.
- There is no income cap. There are price caps, and they are lower outside Perth.
- You generally need to move in within six months of settlement. If you work away on a roster, plan how that fits.
- Your roster pay needs to be shown clearly to a lender. That is often the harder part.
- Scheme rules and WA stamp duty rules change, so check the official sources before you decide.
Working on a roster can help you save. You may have a good income and fewer day-to-day costs while you are on site. The next step, buying your own place, comes with a few extra questions when you work away. This article covers the main ones for first home buyers in Western Australia.
The 5% Deposit Scheme in a nutshell
The Australian Government 5% Deposit Scheme (formerly the First Home Guarantee) lets eligible first home buyers buy with a deposit as small as 5%. The government guarantees part of your loan, so you do not pay lenders mortgage insurance. You need to be 18 or older, an Australian citizen or permanent resident, buying a home to live in, and you must not have owned or part-owned a property in Australia in the past 10 years. If you buy with a partner, both of you need to meet the rules.
Income caps and price caps
Income caps no longer apply, so what you earn on site will not stop you from applying. There are price caps. As at 28 October 2026 they are $850,000 for Perth and $600,000 for the rest of Western Australia. These are based on the value your lender assesses, not just the price you pay. If you are buying near a mine site or in a regional town, the lower cap may apply.
Living in it
The scheme is for a home you will live in. You generally need to move in within six months of settlement and live there while the loan is guaranteed. If you spend long stretches away for work, that is normal, but you still need to make the home yours. The rules are different for house and land packages, so ask about this early.
Showing your roster income
For many people on a roster, the hardest part is not the deposit. It is helping a lender see the full picture of your pay. Base pay is counted in full. Overtime, loadings, allowances and bonuses are treated differently from lender to lender. Read more in how lenders count FIFO and mining income.
WA stamp duty and grants
Since 7 May 2026, eligible first home buyers in WA pay no stamp duty on homes up to $600,000, with a reduced rate up to $800,000, and the First Home Owner Grant property cap is $800,000. Check RevenueWA for the current thresholds before you sign.
What to do next
- Check the official rules at firsthomebuyers.gov.au.
- Gather your payslips, your payment summary and your savings statements.
- Think about where you want to buy, because the area affects the price cap.
- Talk to a broker. Richard doesn’t charge you a fee. He’s paid by the lender.
If you are buying with a friend or sibling, read what to know before you sign. You can also see our WA First Home Buyer Playbook.
Get the FIFO and Mining Home Loan Checklist
A simple checklist and worksheet to get your roster, pay and documents ready before you talk to a lender.
Send me the checklistWe will email it straight to you.Sources and when we checked
Checked on 28 October 2026. Sources: Canstar, 5% Deposit Scheme guide (17 August 2026); Broker News, WA Budget stamp duty report (8 May 2026); Everstone Finance, FIFO and mining home loans (2026). The official source is firsthomebuyers.gov.au. Rules, price caps and stamp duty thresholds can change, so confirm with the official sources and your lender before you buy. This article is general information only and is not personal advice. It is not legal or tax advice.
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This article is general information only and does not take into account your personal financial situation, needs or objectives. Consider whether it is appropriate for you before acting on it. Figures and rules can change, so always check the latest details with the relevant authority.
Richard Morris is a Credit Representative (CRN 570376) of Strategic Mortgages Perth (ACR 570592), authorised under Connective Broker Services Pty Ltd (Australian Credit Licence 389328). This is not tax or legal advice. Please speak to your accountant or solicitor about your own situation.