Buying your first home is one of the biggest decisions you'll make. There are grants, concessions, government schemes and deposit options that many first home buyers don't know exist — and a good broker makes sure you don't miss out on a cent of them.
A first home buyer loan is fundamentally a standard residential home loan — but if you're purchasing for the first time, you may be eligible for government assistance that reduces your upfront costs significantly. In Queensland, first home buyers can access the First Home Owner Grant (FHOG), transfer duty (stamp duty) concessions and federal schemes like the First Home Guarantee — and understanding how these stack is part of what Blambles does for every first home buyer client.
The First Home Owner Grant in Queensland currently provides $30,000 for eligible buyers of new homes. To qualify, the property must be a newly built home (not an established one), and the purchase price must be under the current threshold. The grant is paid at settlement and can be used as part of your deposit. Blambles will confirm your eligibility as part of the initial consultation.
Queensland also offers stamp duty (transfer duty) concessions for first home buyers. If you're buying a home valued under $500,000 to live in, you may pay no stamp duty at all. Between $500,000 and $550,000, a concession applies on a sliding scale. These concessions can save you tens of thousands of dollars — but they come with conditions, and your solicitor and broker both need to be across them.
The federal First Home Guarantee (previously First Home Loan Deposit Scheme) allows eligible first home buyers to borrow with as little as a 5% deposit — without paying Lender's Mortgage Insurance (LMI). Places are limited and income caps apply, but for those who qualify, it can make the difference between buying now and waiting another two or three years. Blambles can help you understand whether you qualify and which lenders participate in the scheme.
$30,000 for eligible buyers of new or substantially renovated homes in Queensland — paid at settlement and usable as part of your deposit.
First home buyers in Queensland may pay zero transfer duty on homes up to $500,000 — a saving of up to $15,925 compared to the standard rate.
Through the First Home Guarantee or specialist lenders, eligible buyers can enter the market with a 5% deposit — avoiding LMI even at low deposit levels.
Save for your deposit inside your superannuation — contributions taxed at 15% rather than your marginal rate — then withdraw up to $50,000 for your first home purchase.
If a parent or family member has equity in their own home, they can act as guarantor — often allowing you to borrow without LMI and without a 20% deposit.
Getting pre-approved before you start inspecting means you know your budget, you're taken seriously by agents and you can act fast when you find the right property.
Blambles sits down with you (or connects via video call) to understand your situation, confirm your grant and concession eligibility and explain your deposit and borrowing options in plain English.
We work out your realistic borrowing capacity — taking into account your income, expenses, HECS debt, existing liabilities and the deposit you've saved — so you can search in the right price range.
We apply for pre-approval with the right lender — giving you a conditional commitment from the bank before you start making offers. Pre-approval is typically valid for 90 days.
Once you've found the right property and signed a contract, we upgrade the pre-approval to a formal application. We coordinate the valuation and manage the process through to approval.
We coordinate with your solicitor and the lender to ensure a smooth settlement. The FHOG (if applicable) is paid at this point. Then the keys are yours.
First home buyer lending is more complex than it looks. The combination of grants, concessions, federal schemes and lender-specific policies means there's a real risk of leaving money on the table — or applying to the wrong lender — if you don't know what you're doing. Blambles has walked hundreds of first home buyers through this process and knows exactly how to maximise the assistance available to you.
Unlike going direct to a bank, we compare 40+ lenders to find the right loan for your circumstances — not the loan that's most profitable for one institution. And unlike a lot of the online comparison tools, we actually read the fine print and understand which lenders are the best match for your income type, deposit size and property goals.
Our service costs you nothing as a borrower — and the peace of mind of having someone genuinely in your corner, guiding you through the most significant financial commitment of your life so far, is hard to put a price on.
The First Home Owner Grant (FHOG) in Queensland is currently $30,000 for eligible buyers of new homes or substantially renovated homes. The home must be newly built — it doesn't apply to established properties. Eligibility conditions include occupancy requirements and income thresholds, and Blambles will confirm your eligibility during your consultation.
Stamp duty is called "transfer duty" in Queensland. First home buyers purchasing a property valued up to $500,000 to live in pay zero transfer duty. Between $500,000 and $550,000, a concession applies on a sliding scale. Above that, standard transfer duty rates apply. This concession can save you up to $15,925 compared to a standard purchase.
Yes — through the federal First Home Guarantee, eligible buyers can purchase with just a 5% deposit without paying Lender's Mortgage Insurance (LMI). Places are limited and income and property price caps apply. Alternatively, some lenders will lend at 95% without the scheme — but you'll pay LMI in that case. A guarantor arrangement can also allow you to borrow without LMI at low deposit levels.
The First Home Super Saver Scheme (FHSSS) allows you to save money inside your superannuation at a tax rate of 15% — rather than your marginal tax rate — and then withdraw up to $50,000 to use as a home deposit. Contributions need to have been made voluntarily into super, and there are annual and total limits. It can be a tax-effective way to accelerate your savings — Blambles can help you understand whether it's worth using in your situation.
Yes — if your parents have equity in their own home, they may be able to act as a guarantor on your loan. This means using a portion of their property as additional security for your loan, which can allow you to borrow without LMI even with a small deposit. The guarantee can typically be limited to a specific amount — protecting your parents from full liability. Blambles can help you understand whether a guarantor arrangement suits your family's situation.
Free consultation, no obligation. Blambles will confirm your grant eligibility, work out your borrowing power and find the right lender for your situation — at no cost to you.