Home Loans For First Home Buyers Brisbane Southside, The 2026 Guide
Brisbane Southside remains one of the most accessible capital city markets for first home buyers in Australia. With the Australian Government 5% Deposit Scheme removing the need for a full 20% deposit, Queensland's full transfer duty exemption on new homes, and the Brisbane price cap at $1,000,000, the path to your first home is more achievable than it might feel right now.
The key to maximising these advantages lies in getting in front of the right lender, one who understands how to assess first home buyer income favourably and which grants and schemes stack together for your situation. Whether you're buying in Moorooka- Coopers Plains or looking at family homes in Runcorn across Brisbane Southside, the difference between lenders can shift your borrowing capacity by tens of thousands of dollars.
Evergreen Loan Solutions helps first home buyers across Brisbane Southside navigate the grants, schemes, and lender options available to them, completely free of charge.
Here's what's worth knowing as a Brisbane Southside first home buyer before you approach a lender.
Key takeaways
- First home buyers can purchase with a 5% deposit and no LMI under the 5% Deposit Scheme.
- Queensland's $30,000 FHOG continues for new home contracts from 1 July 2026.
- New home contracts carry full transfer duty exemption with no price cap in Queensland.
What does the 5% Deposit Scheme actually change for Brisbane Southside buyers?
First home buyers with a 5% deposit can buy without paying Lenders Mortgage Insurance, saving anywhere from approximately $21,000 to $41,500 depending on the purchase price. Instead of saving 20% plus duty plus legal costs, which could easily mean $200,000 or more for a $900,000 property, a 5% deposit gets you into the market with the government guaranteeing the remaining gap. The $1,000,000 Brisbane price cap captures most of the established home market across Brisbane Southside, from units in Runcorn to family homes in Wishart in the $1.1M to $2.2M band, giving genuine options within the scheme parameters that simply don't exist in Sydney or Melbourne.
How much deposit do first home buyers need in Brisbane Southside?
With the Australian Government 5% Deposit Scheme, you can buy with a 5% deposit and no Lenders Mortgage Insurance up to a $1,000,000 price cap. For new builds and established homes, the Queensland Boost to Buy shared equity scheme allows as little as a 2% deposit, with the government taking up to 30% equity in a new home or 25% in an established one. The right scheme depends on your income, the property type, and your long-term plans, which is exactly what we work through with you in a free consultation at first home buyers.
What government schemes and grants are available to first home buyers in Brisbane Southside?
Schemes available as of July 2026:
- › Australian Government 5% Deposit Scheme (First Home Guarantee): buy with a 5% deposit and no Lenders Mortgage Insurance, up to a $1,000,000 Brisbane price cap. Income caps and place limits have been removed.
- › Queensland First Home (New Home) transfer duty exemption: full transfer duty exemption with no price cap for contracts on newly built homes or vacant land for a new build. From 1 August 2026, the concession applies to Australian citizens and permanent residents only.
- › Queensland First Home (Established) transfer duty concession: full concession on established homes under $700,000, sliding-scale concession from $700,001 to $800,000, no concession above $800,000. From 1 August 2026, limited to Australian citizens and permanent residents.
- › Queensland First Home Owner Grant:$30,000 for new builds. The 2026-27 Queensland Budget confirmed the $30,000 continues for contracts signed from 1 July 2026, with funding locked in across the four-year forward estimates. Property cap under $750,000.
- › Queensland Boost to Buy: shared equity scheme where the government takes up to 30% equity in a new home or 25% in an established home, with as little as a 2% deposit. Property cap $1,000,000. Income caps apply: $150,000 for singles, $225,000 for households. Places are limited and Unity Bank is currently the only approved lender.
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How do mortgage brokers help first home buyers across Brisbane Southside get approved?
Each lender has different policies around income assessment, deposit sources, and scheme eligibility. Getting your application to the lender who'll give you the strongest outcome can mean the difference between approval and rejection, or between a competitive rate and an average one.
Step 1: Talk to us
Get in touch and we'll assess your income, deposit position, and goals to understand which schemes you're eligible for and which lenders are most likely to deliver the best outcome.
Step 2: We review your deposit and income sources
We look at your savings history, any family assistance, and employment situation to identify which lenders will assess your income most favourably and accept your deposit source.
Step 3: We identify the right scheme combination
We determine whether the 5% Deposit Scheme, transfer duty concessions, FHOG, or shared equity schemes apply to your situation and how they work together.
Step 4: We compare lenders across our panel
We present the first home loan options from our 50+ lender panel that suit your situation, comparing rates, features, and approval likelihood.
Step 5: We handle the application process
We prepare and submit your application to your chosen lender, liaising with your solicitor and ensuring all scheme requirements are met.
Step 6: We coordinate settlement
We work with your solicitor and the lender to ensure everything is ready for settlement day, including final loan drawdown and scheme confirmations.
What mistakes do Brisbane Southside first home buyers commonly make?
The biggest mistake is approaching the bank you already deal with and assuming they'll give you the best outcome. Your everyday bank might not offer the scheme you're eligible for, or might assess your income less favourably than a specialist lender who understands your employment type.
The second mistake is not understanding how transfer duty concessions work. Many first home buyers assume the established property concession applies to all properties under $800,000, but it only applies to your purchase price, and the concession reduces as the price increases above $700,000. For new builds, there's no price cap on the transfer duty exemption, and the $30,000 FHOG can stack on top.
How much can first home buyers actually borrow in Brisbane Southside?
Borrowing capacity depends on your income, existing debts, and the lender's assessment policies. With the APRA serviceability buffer, lenders test your ability to repay at approximately 3% above your actual rate, which currently puts the assessment rate at around 9%. That's exactly where lender choice becomes critical: different lenders assess the same income differently, particularly for casual workers, contractors, or those with multiple income sources. Borrowing capacity is often the real constraint for first home buyers, not the deposit.
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Local experts
Free service
Prefer to talk now? Call 0421 152 859 |
Frequently Asked Questions
Can first home buyers purchase in Brisbane Southside with a 5% deposit?
Yes. The Australian Government 5% Deposit Scheme allows eligible first home buyers to purchase with a 5% deposit and no Lenders Mortgage Insurance, up to a $1,000,000 price cap. Most Brisbane Southside suburbs have options within this threshold.
Do first home buyers qualify for transfer duty concessions in Queensland?
Yes. For established properties, you receive a full concession under $700,000 and a partial sliding-scale concession from $700,001 to $800,000. For new builds, there is a full transfer duty exemption with no price cap. From 1 August 2026, both concessions apply to Australian citizens and permanent residents only.
Can first home buyers use the Queensland FHOG for an established property?
No. The Queensland FHOG applies only to new builds or vacant land purchases. The grant is $30,000, confirmed by the 2026-27 Queensland Budget for contracts from 1 July 2026, with a property price cap under $750,000.
How long does first home buyer loan approval take in Brisbane Southside?
Typically 7 to 14 days from a complete application, though this varies by lender and can extend during busy periods. Pre-approval can help speed things up once you find a property.
What is the Queensland Boost to Buy and can first home buyers access it?
The Boost to Buy is a Queensland shared equity scheme where the government contributes up to 30% equity on a new home or 25% on an established home, requiring as little as a 2% deposit. It is limited to first home buyers with incomes up to $150,000 for singles and $225,000 for households, with a $1,000,000 price cap. Places are limited and Unity Bank is currently the only approved lender.
Should first home buyers go direct to a bank or use a mortgage broker in Brisbane Southside?
A mortgage broker, every time. Different lenders have vastly different policies on scheme eligibility, income assessment, and deposit requirements. A broker compares options across 50+ lenders to find the one that gives you the strongest outcome for your specific situation, at no cost to you.
Can first home buyers in Brisbane Southside buy an investment property first?
Yes, but doing so means losing eligibility for first home buyer schemes including the 5% Deposit Scheme, FHOG, and transfer duty concessions. If you are considering this strategy, speak to a broker first to understand the full financial impact before committing.
Your Next Steps
Getting your first home loan right is about more than finding a low rate. The right lender for your situation can mean access to schemes that save thousands in transfer duty and LMI, better income assessment that increases your borrowing capacity, and a smoother path to settlement, all advantages that vary significantly across lenders.
The right lender for your first home depends on your situation, and that's a conversation worth having. Talk to the Evergreen Loan Solutions team or call 0421 152 859, and we'll compare your options across 50+ lenders at no cost to you.
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External Resources
Evergreen Loan Solutions · Eight Mile Plains and Brisbane Southside · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions. · Last updated 4 July 2026
