First home buyer loans on the Sunshine Coast
Most first home buyers in Queensland can buy with a 5% deposit and no lenders mortgage insurance, and pay no stamp duty on a new home at any price. On a new home under $750,000 you can add the $30,000 grant. The catch on the Coast is price: the median house is well above the scheme caps. We work out which schemes you can stack, which homes they apply to, and which lender will actually approve you, before you fall for a property.
Free and no obligation. A chat doesn’t involve a credit check.
Or work out how much cash you need first
Lending since 2006 · MFAA 2021 State Finalist · 98% of reviewers recommend us
Stamp duty for an eligible first home buyer on a brand-new Queensland home, with no price cap.
The Sunshine Coast median house price, against a $1 million cap on the 5% Deposit Scheme.
How much deposit do I need for my first home?
As little as 2% to 5% if you and the property fit a government scheme. Otherwise 10% with mortgage insurance, or 20% to avoid it.
5% deposit, no LMI. The Australian Government 5% Deposit Scheme guarantees the gap between your deposit and 20%, so you don’t pay lenders mortgage insurance. Since 1 October 2025 there’s no income cap and no limit on places. The Sunshine Coast price cap is $1,000,000. This is the scheme most of our first home buyers use.
2% deposit, shared equity. Under Help to Buy, the government buys up to 40% of a new home or 30% of an existing one, so your loan and repayments are smaller. From 1 July 2026 the income limits are $103,000 single, or $165,000 for couples and single parents. You can’t combine it with the 5% Deposit Scheme.
Little or no deposit, with family help. A parent can guarantee the part of your loan above 80% of the property’s value using equity in their own home. There’s no price or income cap, which is why it’s the usual answer for houses over $1 million. Once your loan falls to 80% of the value, you can apply to release them. It’s worth understanding how usable equity works before that conversation. If your parents are moving too, a bridging loan lets them buy before they sell.
10% to 20% deposit. A standard loan with lenders mortgage insurance, or none at 20%. Sometimes this beats a scheme even when you qualify, because more lenders and property types are open to you.
Queensland first home buyer grants and schemes, and what stacks
Everything available to a first home buyer on the Sunshine Coast right now. Most combine. The two shared equity schemes don’t.
First Home Owner Grant: $30,000
For a new home, or one you build, valued under $750,000 including land and contract variations. It was due to drop to $15,000 after 30 June 2026, but the 2026–27 State Budget kept it at $30,000, so older articles saying it ended are wrong. There’s no income test, and established homes don’t qualify. You must move in within a year and live there for six continuous months.
Stamp duty (transfer duty) concessions
On a new home, or vacant land you build on, there’s no transfer duty at any price. On an established home: no duty up to $700,000, a reducing concession up to $800,000, and the standard home rate above that. Since September 2024 you can rent out a room without losing the concession. From 1 August 2026 it’s limited to Australian citizens, permanent residents and some retirees.
5% Deposit Scheme
5% deposit, no LMI, no income cap, $1,000,000 price cap on the Sunshine Coast. Works for new and established homes and stacks with the grant and duty concessions. You must not have owned property in Australia in the last 10 years, move in within six months, and keep living there while the guarantee applies.
Help to Buy and Boost to Buy
Both are shared equity: the government co-owns part of your home. Help to Buy is federal and open. Queensland’s Boost to Buy has higher income limits, but its South East Queensland places for round 2, including the Sunshine Coast, have all been allocated. You can use one shared equity scheme, not both, and neither with the 5% Deposit Scheme. Help to Buy has 10,000 places a year, first come, first served, so if it suits you, don’t leave it late.
First Home Super Saver
Voluntary super contributions, up to $15,000 a year and $50,000 in total each, can be released for your deposit. A couple can use up to $100,000 between them, and lenders count it as genuine savings. Get your ATO determination before you sign a contract, then request the release within 90 days of signing. Allow 15 to 20 business days for the money to reach you.
Not sure which ones apply? We’ll check every scheme against your income, savings and the homes you’re looking at.
Check my eligibilityWhy new versus established matters so much here
With the Sunshine Coast unit median at $889,500 and houses at $1.32 million (REIQ, June 2026 quarter), most first buyers land just above the duty concession and just under the scheme cap.
About $25,900 in stamp duty
Above $800,000 the first home concession falls away, so you pay the standard home rate. The 5% Deposit Scheme still works, the grant doesn’t, and the duty is paid in cash at settlement, on top of your deposit.
$0 in stamp duty
Same price and same 5% deposit, but no duty because it’s new. The grant doesn’t apply above $750,000, but keeping nearly $26,000 can mean buying this year instead of next.
Houses are tighter still. Resale medians in Caloundra West and Meridan Plains sit just under $1 million, only a few thousand dollars inside the scheme cap, so one strong auction can push you over. That’s why so many Coast first home buyers end up in new homes in Aura’s suburbs, such as Baringa, Nirimba and Banya, at Harmony in Palmview, or in new townhouse projects closer to the beach. Every new home gets $0 duty, and one under $750,000 also gets the grant.
Duty figures calculated from Queensland Revenue Office home concession rates. Confirm your own figures with your conveyancer.
House and land: the cash-flow trap most buyers miss
Building gets you the best of the incentives. It also has more points where a first home loan can go wrong.
The grant arrives later than you think
When you build, your lender pays the $30,000 at the first progress payment, usually after the slab. You can’t use it toward the land settlement or the builder’s deposit, so your own savings have to cover those first.
Variations count toward the cap
The $750,000 grant limit includes land and every contract variation. A $740,000 package with $15,000 of upgrades loses the whole $30,000. Lock in your selections before you sign, and insist on a fixed-price contract.
Scheme deadlines run during the build
With separate land and build contracts under the 5% Deposit Scheme, building must start within 12 months of your loan settling and finish within 24. You’re also paying your rent and the construction loan at the same time, so we size your borrowing for both.
Looking at a house and land package? Talk to us before you sign and we’ll run the numbers and the grant cap with you.
Check my packageHow much cash do I need to buy my first home?
Enter a price and what you’ve saved. We’ll apply the Queensland grant and stamp duty rules and show your deposit, stamp duty and any gap. Estimates only, not an approval.
What lenders look at for a first home loan
Genuine savings
With a small deposit, most lenders want about 5% of the price saved by you, or held for at least three months. A gift from family usually doesn’t count on its own. Some lenders accept a clean rental history through a property manager instead, and First Home Super Saver money counts.
HECS-HELP, Afterpay and credit cards
Your compulsory HELP repayment is taken off your borrowing power. The 20% debt reduction applied in 2025 and the higher repayment threshold have helped, and lenders may now ignore a HELP debt you’ve nearly repaid. Buy now, pay later accounts and credit card limits count against you even if you never use them, so close the ones you don’t need before you apply.
Assessment rate
Banks test your repayments at your rate plus APRA’s 3% buffer, so a 6% loan is assessed at about 9%. That’s why online calculators and real approvals so often differ.
Probation, casual and self-employed
Some lenders will approve you on probation if you’re in the same industry, and casuals after six to twelve months. Running your own business is a separate case: see our self-employed home loans page, and if you owe the ATO, home loans with tax debt.
Buying an investment first
If you buy a rental you never live in, you may still get the $30,000 grant on a new home later, as long as you can prove you never lived there. You’ll lose access to the 5% Deposit Scheme for 10 years, though, and usually the first home stamp duty concession too. Talk to us before you rentvest.
The steps, the costs, and what to avoid
- Free chat. We work out your budget, your schemes and your price ceiling.
- Pre-approval. Usually lasts 90 days. Your 5% Deposit Scheme place is arranged through the lender.
- Make an offer. Subject to finance and a building and pest inspection.
- Formal approval. The lender values the property and the contract goes unconditional.
- Settlement. The loan and grant are paid, and you get the keys.
Ready now? Start your application.
- Treating pre-approval as a guarantee. The property and the valuation still have to pass.
- Forgetting costs on top of the deposit. Conveyancing, the building and pest inspection, insurance and moving add up to several thousand dollars.
- Taking out a car loan before settlement. It can cancel an approval you already have.
- Bidding at auction without finance lined up. Auctions are unconditional, so a low valuation becomes your problem.
Grant rules and price caps change. The Queensland Government’s first home owner grant page has the official criteria.
Why first home buyers choose us
A broker who invests too. Melissa has been in lending since 2006 and is an active property investor and developer herself.
Local since 2008. A small Sunshine Coast business, MFAA 2021 State Finalist, with 98% of reviewers recommending us.
Self-employed first home buyers. Georgia focuses on self-employed and more complex loans. See our self-employed home loans page.
You’re in good company: around three in four first home buyers who use a government scheme do it through a broker, according to Housing Australia data cited by the MFAA.
Melissa Mann
Director & Senior BrokerIn lending since 2006, founded Thinking Big Finance in 2008, and an active property investor and developer. Credit Representative 522583.
Georgia
Mortgage & Finance BrokerWith Thinking Big since 2016, focused on self-employed and more complex loans. Credit Representative 508451.
“Melissa was quick and efficient with an impressive turnaround time in having our home loan approved.”
Lyle · Thinking Big Finance client
“They went above and beyond where no other bank would budge on my situation. Truly can’t thank them enough.”
Helen · Thinking Big Finance client
First home buyer questions, answered
How much deposit do I need to buy my first home in Queensland?
As little as 5% under the 5% Deposit Scheme, with no lenders mortgage insurance, or 2% under the Help to Buy shared equity scheme if you meet its income limits. Without a scheme, lenders usually want 10% with mortgage insurance, or 20% to avoid it.
Is the $30,000 First Home Owner Grant still available in Queensland?
Yes. The 2026–27 Queensland Budget kept the grant at $30,000 for eligible contracts signed from 1 July 2026. It applies to new homes, or homes you build, valued under $750,000 including land and contract variations. Established homes don’t qualify.
Do first home buyers pay stamp duty in Queensland?
Not on a new home or on vacant land you build on, at any price. On an established home there’s no duty up to $700,000 and a reducing concession up to $800,000. Above that, the standard home concession rate applies.
What is the 5% Deposit Scheme price cap on the Sunshine Coast?
$1,000,000. Since 1 October 2025 the scheme has no income caps and no limit on places, and it can be used for new or established homes.
Can I use the First Home Owner Grant and the 5% Deposit Scheme together?
Yes. The grant, the stamp duty concessions, the 5% Deposit Scheme and the First Home Super Saver scheme can all be combined if you meet each one’s criteria. Shared equity schemes like Help to Buy can’t be combined with the 5% Deposit Scheme.
What is the difference between Help to Buy and the 5% Deposit Scheme?
The 5% Deposit Scheme removes mortgage insurance, but you still borrow about 95% of the price. Under Help to Buy, the government buys up to 40% of a new home or 30% of an existing one, so you borrow less. It owns that share until you buy it back or sell, and income limits apply.
When is the First Home Owner Grant paid if I build?
When you apply through your lender, the grant is paid at the first progress payment of your construction loan. That means it can’t cover the land settlement or the builder’s deposit, so your own savings need to.
Can my parents help me buy my first home?
Yes. With a family guarantee, a parent secures the part of your loan above 80% of the property’s value with equity in their own home. You can buy with little or no deposit and no mortgage insurance, and they can be released once your loan falls to 80% of the value.
Can I buy an investment property first and still get first home benefits?
Partly. If you never live in it, you may still get the Queensland First Home Owner Grant on a new home later. But owning property means you can’t use the 5% Deposit Scheme for 10 years, and you’ll usually lose the first home stamp duty concession.
Does HECS debt affect how much I can borrow?
Yes. Lenders deduct your compulsory repayment from your income, which lowers your borrowing power. Some lenders will disregard a HELP debt you’ve nearly repaid, so check before you apply.
How long does pre-approval last?
Usually 90 days, sometimes up to six months, depending on the lender. It isn’t a guarantee: the property, the valuation and your circumstances still need to check out before formal approval.
Every first home buyer’s mix is different. Tell us what you’ve saved and where you want to live, and we’ll map the fastest way in.
Book a free chatLet’s chat
Stop renting sooner. Let’s map your way in.
Tell us your income, your savings and where you want to live. We’ll look at the schemes you may qualify for, what you could borrow and a realistic price range on the Coast.