Brisbane’s First Home Buyer Loans: A Complete Guide for 2025

First home buyer loans can feel like the key that finally unlocks the dream of owning a place of your own, especially in a city like Brisbane where demand is growing but prices are still within reach for many. 

These loans help everyday Aussies—singles, couples, young families—step into the property market sooner, with Brisbane’s median house prices remaining more accessible than in other major cities.

That’s where Brisbane mortgage brokers like Kelly Brothers Finance come in. With deep local knowledge and years of experience, they help first-time buyers cut through the chase by comparing loan options, handling the details, and saving buyers serious time and money.

So, what exactly are first home buyer loans, and how do they work? Let’s break it down.

What Are First Home Buyer Loans? 

First home buyer loans are home loans specifically tailored for people buying their first residential property. These loans are designed to make the process easier and more affordable by offering access to government support like grants, concessions, or low-deposit options.

The key difference is that first home buyer loans offer extra support—like reduced stamp duty, cash grants, or Lenders Mortgage Insurance exemptions—that aren’t available to repeat buyers. These benefits can make a big difference to your upfront costs and overall financial burden.

Brisbane Property Market in 2025: Insight Into First-time Homebuyers

Brisbane remains one of Australia's most appealing cities for first-time homebuyers, especially in North Brisbane, where prices are still manageable, and demand is growing fast. 

As of late 2024, Brisbane’s median house price sits at around $805,000, with units averaging $530,000, according to CoreLogic. 

House values grew 6.2% over the past year, yet Brisbane remains far more affordable than Sydney or Melbourne. North Brisbane suburbs like Strathpine, Bracken Ridge, and Bald Hills offer strong value, solid infrastructure, and great rental yields—making them ideal for both owner-occupiers and first-time investors.

Add in lifestyle perks, infrastructure upgrades ahead of the 2032 Olympics, and government support like stamp duty concessions and the First Home Owner Grant, and Brisbane—especially the north—is still a smart entry point into the market in 2025.

Eligible Criteria for First Home Buyer Loans in Brisbane

Not everyone can apply for a first home buyer loan. There are specific boxes you need to tick. Here’s what lenders and government schemes will look for in Queensland:

To qualify in Brisbane, you must:

• Be at least 18 years old
  
  
• Be an Australian citizen or permanent resident
  
  
• Never have owned residential property in Australia (this includes investment property)
  
  
• Intend to live in the home as your principal place of residence for at least 6 continuous months within 12 months of settlement
  
  
• Meet income limits for schemes like the First Home Guarantee:
  
  
• Up to $125,000 for individuals
  
  
• Up to $200,000 for couples (based on latest 2023–24 NOA)
  
  
• Purchase a property under the price cap:
  
  
• $700,000 in Brisbane & regional centres (as of 2024/25 via NHFIC)
  
  
• For the First Home Owner Grant (QLD):
  
  
• Property must be newly built, off-the-plan, or a substantial renovation
  
  
• Purchase price must be under $750,000

Meeting these criteria can open the door to grants, concessions, and better loan options, making that first step into the Brisbane market much easier.

How Much Can I Borrow as a First Home Buyer in Brisbane?

Your borrowing power is the amount a lender is willing to loan you, and it can vary widely depending on your financial position. For most first home buyers in Brisbane, this typically ranges from 4 to 6 times your annual income, but that's just a starting point.

How Lenders Calculate It:

Lenders look at:

• Your gross income
  
  
• Living expenses
  
  
• Monthly debts (like car loans or credit card repayments)
  
  
• Loan term and interest rate
  
  
• If you're eligible for LMI waivers or using a guarantor
  
  

Key Factors That Affect It:

• Credit score: A higher score can boost your borrowing limit
  
  
• Existing debt: The less you owe, the more you can borrow
  
  
• Savings and deposit size: A larger house deposit reduces risk
  
  
• Job stability: Secure, full-time employment is a major plus

For an accurate estimate, most lenders recommend starting with a loan pre-approval or using an online borrowing power calculator.

Types of First Home Buyer Loans

First home buyers in Brisbane have access to a range of loan products tailored to different individual circumstances. Here are the common types:

Variable Rate Home Loans

These rate home loans offer flexibility—your interest rate moves with the market. Great for first-time buyers wanting options like extra repayments, redraw, and offset accounts.

Fixed Rate Home Loans

With fixed loans, your repayments stay the same for a set period. Ideal if you want predictable costs while adjusting to new expenses after your contract of sale is signed.

Split Loan (Fixed + Variable)

Combines both fixed and variable interest rates in one loan. It offers balance—part stability, part flexibility—for buyers unsure about future rate changes.

Low Deposit Home Loans (5% Deposit)

Offered through the First Home Guarantee Scheme, these loans let you buy with just a minimum deposit of 5%. You’ll need to meet eligibility criteria and get pre-approvals, but you can avoid paying Lenders Mortgage Insurance if you qualify.

Guarantor Loans

Allows a family member to guarantee part of your loan, often using equity from their own property. This can boost your borrowing capacity and help you get around the high initial costs.

Government Grants and Programs for First Home Buyers in Brisbane

First home buyers in Brisbane can tap into a range of government schemes that reduce upfront costs, boost deposits, and even remove the need for Lenders Mortgage Insurance. Here's what's available in 2025:

First Home Owner Grant (FHOG QLD)

A $15,000 or $30,000 grant for eligible buyers purchasing or building a new home under $750,000. You must live in the property for at least 6 months within 12 months.

First Home Guarantee (FHBG)

Buy with just a 5% minimum deposit, no LMI. Applies to new, existing, off-the-plan, or land and build homes up to $700,000 in Brisbane.

Family Home Guarantee (FHG)

Single parents with dependents can buy with just 2% deposit and no LMI. Must earn under $125,000; available for new or existing homes under $700,000.

Regional First Home Buyer Guarantee

Covers areas like Ipswich, Logan, and Moreton Bay. Allows 5% deposit, no LMI—same income and property caps as FHBG.

Stamp Duty (Transfer Duty) Concessions – QLD

Full exemption for homes under $500,000; discounted rates up to $550,000. Can save up to $15,925 on your property purchase.

Help to Buy 

Government contributes up to 40% of the home value (equity share). Buy with just 2% deposit. Income and property caps will apply. 

Chat with Kelly Brothers Finance

From sorting your pre-approvals to choosing the right loan product, Kelly Brothers Finance takes the stress out of buying your first home. Speak to trusted Brisbane mortgage brokers who’ll guide you through every step. Call (07) 3847 9450 or visit kellybrothersfinance.com.au to chat with our expert brokers.

How to Apply for First Home Buyer Loans

The loan application process might seem overwhelming at first, but with the right steps, it becomes a straightforward part of the home-buying process. Here’s how to get started.

1. Check Eligibility Requirements: Before anything else, confirm you meet all eligibility requirements for both the lender and any government schemes. This includes income limits, property price caps, and whether you're buying a new build or vacant land.

2. Get Pre-Approval: A pre-approval gives you a realistic idea of your borrowing power and budget range. It shows agents and sellers you’re serious, and it speeds up the loan process later on.

3. Gather Your Documents: You'll need to provide proof of income, credit history, ID, savings, and details of your loan deposit. Lenders also look at bank statements, credit cards, and financial commitments to assess your mortgage application.

4. Compare Lenders and Loan Features: Not all loan products are created equal. Compare loan features, such as interest type, application fees, offset accounts, and redraw facilities—some can save you extra cost in the long run.

5. Submit the Loan Application: Once you’ve chosen a lender and gathered your docs, submit your loan application. Make sure you disclose everything honestly; your credit history plays a big role in approval.

6. Secure Grants and Incentives: If eligible, apply for the First Home Owner Grant and any relevant schemes. Many mortgage brokers or lenders will lodge the owner grant application on your behalf during the loan process.

7. Final Approval and Settlement: After formal approval, you’ll exchange contracts and pay your loan deposit. The lender then settles the loan, and the property is yours—welcome to homeownership.

First Home? Get Expert Help Every Step of the Way

As a first-time buyer, there's a lot to take in, such as grants, loan options, deposit rules, and that tricky fine print. At Kelly Brothers Finance, our Brisbane mortgage brokers simplify it all!

We’ll help you unlock every eligible benefit, compare the right loan products, and guide you through the full loan application process—so you can focus on finding the home, not stressing over the paperwork. Call (07) 3847 9450 or visit kellybrothersfinance.com.au.

Frequently Asked Questions (FAQs)

What is the best loan for a first-time home buyer?

The best loan types depend on your personal circumstances, income, and long-term goals. A mix of fixed or variable rates, low loan fees, and features like offset accounts or a guarantor home loan can save you thousands of dollars over time—always seek financial advice before choosing.

What are first home buyers entitled to in QLD?

Eligible first-home buyers in Queensland may access the $30,000 First Home Owner Grant, stamp duty concessions, and national buyer grants like the First Home Guarantee. These benefits can reduce loan repayments, cover loan establishment fees, or increase your maximum loan potential.

What is the minimum deposit for the first home buyers grant in QLD?

The First Home Owner Grant (FHOG) doesn’t require a set minimum deposit, but most lenders still require at least 5–10% of the purchase price. This depends on the loan agreement, your credit score, and whether you're using a guarantor home loan.

Who qualifies for the first home buyers grant in QLD?

To qualify, you must be an Australian citizen or permanent resident, buying or building a new owner-occupied property valued under $750,000. You must also move in within 12 months and live there for at least 6 months—property reports and building inspections may also be required.

How much deposit do first home buyers need in QLD?

Most lenders ask for a minimum deposit of 5–10%, depending on your income, credit history, and whether you qualify for the First Home Guarantee. Working with experienced mortgage brokers can help you reduce upfront loan fees and understand what you can afford in terms of mortgage repayments.

What is the $40,000 first home owners grant in QLD?

As of 2025, there is no $40,000 First Home Owner Grant in Queensland—the current amount is $30,000 for eligible first-home buyers purchasing or building a real property under $750,000. Always check with your broker for updates, as grants may change based on government policy and loan types.

Final Thoughts

Buying your first home in Brisbane doesn’t have to be overwhelming. In 2025, there are more options than ever for first home buyer loans, with real savings and grants available across Queensland. 

Based in North Brisbane, our mortgage brokers at Kelly Brothers Finance offer free consultation to help first-time buyers understand their options, compare loans, and make smart decisions that suit their situation. Call (07) 3847 9450 or visit kellybrothersfinance.com.au. Your first home starts with a simple chat with us.