First Home Buyer

Buying your first home is one of the biggest financial decisions you'll ever make.

What You Need To Know

As a mortgage broker, I help first home buyers understand their borrowing power, compare home loan options, navigate government schemes and move confidently from pre-approval through to settlement.

Whether you're still saving your deposit or you're ready to start house hunting, I'll help you understand your options clearly and avoid costly mistakes along the way.

Here’s what you need to know:

  • Where to start on your first home buyer journey

  • What the process looks like

  • Deposits, grants and government support

  • First Home Buyer Schemes

  • What Lenders Mortgage Insurance (LMI) is and is it required

  • How to choose the right home loan

Where to start on your first home buyer journey?

For most first home buyers, the process feels complicated before it even begins. How much can you actually borrow? Do you have enough of a deposit? What grants might you be eligible for? Which lender is right for your situation? These are exactly the questions I work through with you - in plain language, without the jargon.

As a Queensland based mortgage broker, I mainly work with first home buyers across Brisbane, the Gold Coast and Sunshine Coast to understand their borrowing options, available government support and lender requirements.

Through my partnership with Connective, one of Australia's largest mortgage aggregators, I have access to a broad panel of lenders and the systems, support and lender relationships needed to help guide you through the process with confidence.

What does the process actually look like?

Every first home buyer's situation is different, but the process generally follows a clear path. We start by understanding your financial position looking at your income, savings, expenses and goals. From there, I can give you a realistic picture of your borrowing capacity and what that means in terms of property price range.

If you're not quite ready yet, that's fine too. I'll tell you what needs to happen before you are, and we can put a plan in place. There's no pressure and no obligation - just a clear conversation about where you stand and what your options are.

Deposits, grants and government support

The deposit requirement is often the biggest hurdle for first home buyers, but there's more support available than many people realise. Depending on your situation, you may be eligible for:

First Home Guarantee

Eligible buyers can purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI), with the government guaranteeing the remaining amount. There are property price caps and income thresholds that apply.

Queensland First Home Owner Grant

If you're building a new home or buying a newly built property in Queensland, you may be eligible for the First Home Owner Grant. Eligibility criteria apply, so we'll assess this as part of your consultation.

First Home Super Saver Scheme

If you've been making voluntary contributions to your superannuation, you may be able to access those savings for a home deposit under the FHSS Scheme. It's worth understanding how this works before you start saving.

Important: Grants and thresholds change from time to time. I'll help you understand exactly what you're eligible for based on your specific situation at the time of your application.

What About Lenders Mortgage Insurance

Lenders Mortgage Insurance (LMI) is a one-off insurance premium that protects the lender, not you, if you default on your loan. It's typically charged when your deposit is less than 20% of the purchase price. The cost can be significant, running into thousands of dollars, so avoiding it where possible is worth planning for.

There are legitimate strategies to help you avoid or minimise LMI, including using a guarantor, accessing the First Home Guarantee, or simply targeting that 20% threshold. We'll talk through what's realistic for your situation.