First Home Buyer Loans - Sunshine Coast Mortgage Brokers

First Home Buyer Loans

Getting a mortgage for the first time can be daunting and easy to make costly long term mistakes, but not when you have Orchard Financial Group by your side. 

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We find the right Mortgage Lender for you!

With over 40 banks and lenders at our fingertips, we act as your personal advisor to ensure you get the mortgage that suits your needs. Based on your financial situation, we will carefully select from these options in order to secure you an approval with a competitive rate- so you can feel confident about your home loan.

Mortgage Brokers Help & Support First Home Buyers

We Explain The Process Of How To Buy Your First Home

Want to buy your first home but don’t know where to start? Mortgage brokers can provide lots of information, guidance and insights into the costs and process of getting your first home. Doesn’t matter if you want to buy a unit or build a new home, we can give the step by step guidance that you will need. 

First Home Buyers Grant Qld

In Australia, the Queensland Government offers incentives and financial assistance to people buying (or building) their first home. We can help you work out if you are eligible for assistance and make sure you get as much financial help that is available to you. We work hard to help your first home dreams come true! 

Pre-Approval for First Home Buyers

Ready to take the plunge and purchase your own house? Get pre-approved so you can do house hunting with confidence! Knowing what’s in store financially will ensure that when it comes time for negotiations, there are no surprises – giving you peace of mind throughout this exciting process. Having pre-approval prior to buying a house at an Auction makes it easier to stay within your budget. 

We Set You Up To Succeed

The truth is it’s daunting and difficult to know what you can (and can’t) afford when buying your first home. We help you with your finances even when you’re not quite ready! We have helped many people like you who thought they could never buy their own house… 

Buying Your First Home With A Mortgage Broker

We assist people of all walks of life achieve what sometimes feels like the impossible. We look at your individual financial situation, give you suggestions on what you can improve to make sure you get the home that you want. We genuinely care that you buy within your means and are able to afford it. 

"Nicky and her team went above and beyond for me in acquiring my first home loan. I’ll continue using Orchard Mortgage Brokers in future".
Paul D
First Home Buyer

First Home Owners Grant Assistance

✔️ We can help you work out if you’re eligible. 

✔️ We can help you fill out the First Home Owners Grant Application.

✔️ We will help you be ready and organised with all the required supporting documentation.

Get It Right The First Time

Current statistics show that less than 20% of first home owners grant applications are lodged correctly the first time around.

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Australian Government Grants - Home Guarantee Scheme (HGS)

It’s worth considering available government grants and schemes for first home buyers.

The Australian Government Home Guarantee Scheme is one such program that may catch your attention. This initiative aims to help eligible home buyers purchase their first home sooner and is administered by the National Housing Finance and Investment Corporation on behalf of the Australian Government.

The goal is to make it easier for Australians to enter the housing market. 32 participating and authorized lenders are able to offer HGS to home buyers. There are three government schemes with individual criteria requirements.

1. The First Home Guarantee (FHBG)

The First Home Guarantee (FHBG) program allows first-time home buyers to buy their homes sooner with a deposit of as little as 5%. The program has 35,000 spots available each fiscal year and is provided by the NHFIC.

2. The Regional First Home Buyer Guarantee (RFHBG)

The Regional First Home Buyer Guarantee (RFHBG) provides assistance to eligible first-time home buyers in regional areas. Starting 1 October 2022, 10,000 spots will be available annually until 20 June 2025.

3. The Family Home Guarantee (FHG)

The Family Home Guarantee (FHG) aims to help single parents with at least one dependent child purchase a home. It provides support by allowing them to make a deposit as little as 2%. 5,000 spots are available each financial year until 30 June 2025.

First Home Buyers FAQ

What Is Lenders Mortgage Insurance?

Lenders Mortgage Insurance helps people buy homes, especially people who do not have a substantial deposit (normally 20%).

Lenders Mortgage Insurance (LMI) serves as protection for lenders in case they cannot recover the full loan amount if the borrower is unable to make loan payments and the property is sold for less than the outstanding balance.

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How Much Deposit Do I Need So That I Don't Have to Pay Lender's Mortgage Insurance?

Typically, lenders require a deposit of at least 20% of the property’s value to avoid paying Lenders Mortgage Insurance (LMI).

For borrowers who don’t have the necessary 20% deposit, LMI is usually a one-time cost that is payable when the amount borrowed exceeds 80% of the property’s value.

It’s important to note that while LMI protects the lender, it does not benefit the borrower.

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What is First Home Guarantee?

The First Home Guarantee (FHBG) is an Australian Government initiative that is part of the Home Guarantee Scheme (HGS) designed to help eligible first home buyers purchase a home sooner.

Managed by the National Housing Finance and Investment Corporation (NHFIC), the FHBG enables eligible home buyers to purchase a home with as little as a 5% deposit without having to pay Lenders Mortgage Insurance.

Part of the eligible home buyer’s home loan from a Participating Lender is guaranteed by NHFIC.

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Do First Home Buyers Have to Pay Stamp Duty in QLD?

No if the home is valued Under $500,000.

Yes if the home is valued Over $500,000.

For homes valued at $500,000 or less, the first home concession rate will match the home concession amount, which means that there will be no duty payable.

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What is the First Home Super Saver Scheme?

The FHSS scheme enables individuals to save funds for their initial home purchase within their superannuation fund.

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What Stamp Duty Concessions for Homes are Available in QLD?

There are 3 Stamp Duty Concessions available:

1. Home Concession 

You can claim a home concession for transfer duty when buying a residence, as long as you meet particular criteria & requirements. If you meet the necessary criteria and requirements, you can benefit from a reduced amount and potentially save up to $7,175.

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2. First Home Concession 

If you are acquiring your first home, you may be eligible to claim a first home concession for transfer duty, provided that you meet certain requirements.

The concession applies only to homes valued under $550,000 and could potentially save you up to $15,925.

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3. First Home Vacant Land Concession 

If you buy vacant land to build your first home, you may be eligible to claim the first home vacant land concession for transfer duty, provided that you meet specific requirements.

This concession applies only to vacant land valued at less than $400,000 and could potentially save you up to $7,175.

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Be guided every step of the way by your local lending experts​

Our friendly team brings a wealth of experience, knowledge and solutions for people in all kinds of scenarios. Understand your options and start a conversation today.

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