First home buyers in South East Queensland
Right now is about as good as it's been for first home buyers in this state. The income caps are gone, the deposit hurdle has come down to 5%, most new builds attract no stamp duty at all, and there's a $30,000 grant still on the table for eligible new homes.
The problem isn't a shortage of help — it's that the schemes are scattered across two levels of government with different rules, and plenty of people either don't know what they qualify for or read something out of date and rule themselves out.
Where we work
Fundi Finance is based at Eumundi on the Sunshine Coast, and works across the whole of South East Queensland — Brisbane, Ipswich, Logan, Moreton Bay, the Gold Coast, the Sunshine Coast, Noosa and the Gympie region. Broking isn't restricted by location and the lenders and schemes are identical statewide, so plenty of clients are in Brisbane or on the Gold Coast and handle everything by phone, email and video.
What you can actually access
A 5% deposit, with no LMI
The federal First Home Guarantee is the big one. Housing Australia guarantees part of your loan so the lender doesn't charge lenders mortgage insurance, even at 95% borrowing. On a $700,000 purchase, LMI could otherwise be somewhere near $30,000 — so this is usually the single largest saving available to you.
Since 1 October 2025: no income caps, no limit on places. You do still need to pass the lender's normal serviceability and credit checks — the guarantee removes the insurance, not the assessment.
Price caps across SEQ
| Area | Approx. First Home Guarantee cap |
|---|---|
| Brisbane | ~$1,000,000 (capital city cap) |
| Sunshine Coast | ~$1,000,000 — treated as capital-city equivalent |
| Gold Coast | ~$1,000,000 — treated as capital-city equivalent |
| Ipswich, Logan, Moreton Bay | Generally within the Brisbane cap |
| Rest of Queensland | ~$700,000 |
The Sunshine Coast and Gold Coast being on the higher cap is a genuinely big deal locally — it's a $300,000 difference versus the regional cap. Caps get reviewed, so confirm the current figure before you make an offer.
No stamp duty on most new builds
Since 1 May 2025, eligible Queensland first home buyers pay zero transfer duty on a new home or vacant land to build on — with no price cap on that exemption. On established homes, a full concession applies up to $700,000, phasing out above $800,000, which still covers a lot of stock across Ipswich, Logan and Moreton Bay.
The $30,000 grant
Still available for eligible new homes valued under $750,000 including land. Not available on established homes. Full detail on our QLD first home buyer grants guide.
Boost to Buy
Queensland's shared equity scheme — the State takes an equity share and you can get in with as little as 2%. Income caps, price limits and limited places apply, and you co-own with the government, so it suits some people and not others.
How it runs, start to finish
- A quick chat. What you earn, what you've saved, any debts, and where you're looking. Ten minutes usually tells us what's realistic.
- We map your schemes. Which grants and concessions you qualify for, what they're worth, and how they stack on your particular purchase.
- Borrowing capacity. A real number across a range of lenders, not a rough online guess — they vary more than people expect.
- Pre-approval. So you can bid or negotiate knowing exactly where you stand.
- You go find the place. Send through anything you're serious about and we'll sanity-check it before you sign.
- Formal approval and settlement. We handle the lender, chase the valuation and keep you posted. You'll know what's happening and when.
General information only — it doesn't take into account your objectives, financial situation or needs. Government scheme amounts, price caps and eligibility change regularly; confirm current details with the Queensland Revenue Office or Housing Australia before acting.
First home buyer questions, answered
How much deposit do I need in South East Queensland?
As little as 5% using the First Home Guarantee, which also removes LMI. On a $700,000 purchase that's about $35,000 instead of $140,000 for a full 20% deposit — and it avoids an LMI premium that could be close to $30,000. Boost to Buy can take it lower again, around 2%, if you qualify. Budget separately for legal fees, building and pest, and lender costs.
What's the price cap for the 5% deposit scheme in SEQ?
Brisbane, the Sunshine Coast and the Gold Coast all use the higher capital-city cap of roughly $1,000,000, rather than the ~$700,000 regional cap. The Sunshine Coast and Gold Coast being treated as capital-city equivalents gives local buyers considerably more room than most people assume.
Can I avoid stamp duty?
Often, yes. Since 1 May 2025 there's no transfer duty for eligible first home buyers on a new home or vacant land, with no price cap. On established homes a full concession applies to $700,000, phasing out above $800,000. From 1 August 2026 you need to be an Australian citizen, permanent resident or specified foreign retiree to claim it.
You're on the Sunshine Coast — can you help me buy in Brisbane?
Yes, easily. Broking isn't restricted by location, and the lenders, schemes and rules are the same statewide. Plenty of clients across Brisbane, Ipswich, Logan and the Gold Coast do the whole thing by phone, email and video.
How long does approval take?
Pre-approval is usually a few days to a couple of weeks depending on the lender and how complete your application is. Formal approval after you've signed a contract is typically one to two weeks, with the valuation the most common hold-up. Self-employed applications and unusual properties take longer. Having payslips, bank statements, ID and debt details ready up front makes the biggest difference.
What if my partner has owned a property before?
For most first home schemes, both applicants need to be first home buyers — if one has owned before, the application generally won't qualify. There are some narrow exceptions depending on the scheme and circumstances, so it's worth asking rather than writing it off.
Find out where you stand
Send through a rough outline — roughly what you earn, what you've saved, and where you're looking — and Brody will come back with what you'd likely qualify for, what you could borrow, and what the schemes are actually worth in your situation. It costs nothing, and if it doesn't stack up right now he'll say so plainly and map out what would need to change.