Buying your first home on the Sunshine Coast can feel out of reach, but between low-deposit schemes and Queensland grants, you are often closer than you think. Here is what is on offer and how to start.
You don’t need a 20% deposit to buy your first home on the Sunshine Coast. That one belief holds more first home buyers back than almost anything else, and it is often wrong.
Maybe you have watched prices climb and assumed you had missed your window. Maybe you have started saving and have no idea how much is actually enough. Buying your first home is the biggest financial decision most people ever make, so a bit of overwhelm is normal.
This guide walks you through the low-deposit schemes, the Queensland grants you may be entitled to, how much deposit you really need, and the first step to take. Fox Home Loans is here to guide you through all of it.
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Yes. The First Home Guarantee, run by the federal agency Housing Australia, lets eligible first home buyers purchase with a deposit of as little as 5% and pay no Lenders Mortgage Insurance (LMI), the insurance lenders usually charge when your deposit is under 20%. Housing Australia guarantees part of your loan, so the lender does not need that insurance.
From 1 October 2025, the government expanded the scheme. It removed the income caps, made the number of places unlimited, and lifted the property price caps (Housing Australia, 1 October 2025). That is a big deal. Under the old rules, higher earners were often shut out. Now the income test is gone.
A property price cap still applies, and it depends on where you buy. The Sunshine Coast sits in Housing Australia’s higher-cap tier, alongside Brisbane and the Gold Coast, rather than the lower “rest of state” tier. Caps are reviewed and change over time, so check the current cap for your suburb using Housing Australia’s property price cap tool before you count on it.
You need to be an Australian citizen or permanent resident, at least 18, and planning to live in the home. You may be eligible even if you owned property in the past, as long as it was more than 10 years ago.
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Queensland first home buyers can stack federal and state support: a cash grant for new builds, stamp duty relief, and low-deposit shared-equity schemes. Used together, these can cut both the deposit you need and the cash you hand over at settlement. Here is how each one works, and where they can combine.
The best move is to map these out against your own situation before you start house-hunting. There are several supports running at the moment, and which ones you qualify for changes the plan completely. This is exactly the kind of thing our brokers pull together into a single, tangible plan for you, so getting into your first home becomes a goal you are actively working toward rather than a vague someday.
The First Home Owner Grant is a one-off Queensland Government payment for eligible buyers building or buying a brand-new home. The Queensland Revenue Office’s current eligibility page states that “the increased $30,000 grant has been continued for eligible transactions entered into from 20 November 2023” (qro.qld.gov.au, updated 30 June 2026). The home must be valued under $750,000, counting land and build together, and it must be new: not previously lived in or sold as a home.
One caution worth taking seriously. Grant amounts and dates are reviewed, and some sources still show a lower figure. Confirm the current amount directly with the Queensland Revenue Office, or ask us to check it for you, before you rely on it in your budget.
Since 1 May 2025, eligible first home buyers buying a new home, or vacant land to build their first home on, can pay no transfer duty (often called stamp duty), with no price cap (Queensland Revenue Office). For eligible established homes, a first home concession reduces or removes the duty up to set thresholds. Stamp duty is often one of the largest upfront costs, so this relief can free up thousands for your deposit.
If a 5% deposit is still out of reach, two shared-equity schemes let you start with just 2%. Under Queensland’s Boost to Buy, you provide a minimum 2% deposit and the state government contributes an equity share of up to 30% on a new home or 25% on an existing one, on properties up to $1 million, with income limits of $150,000 for singles and $225,000 for households (Queensland Treasury). The federal Help to Buy scheme works on a similar shared-equity basis. Shared equity means the government owns a slice of the home with you, which you can buy back later, so weigh it up carefully.
Want a rough idea of where you stand before you go any further? Our borrowing power calculator can help give you an idea of what you could borrow in a couple of minutes. No application, no credit check.
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Less than most people assume. With the First Home Guarantee you may be able to buy with a 5% deposit and no LMI. On a $700,000 home, that is around $35,000 rather than the $140,000 a full 20% deposit would need (illustrative figures: 5% and 20% of $700,000). Through Boost to Buy, the starting point can be as low as 2%.
There is another path many buyers never hear about. Some lenders let people in certain professions, nurses and other healthcare workers among them, borrow up to 90% with no LMI, and in some cases waive LMI altogether. Our brokers use these policies regularly. Depending on the lender and your eligibility, it can change your deposit maths completely.
If you do not qualify for a scheme, a guarantor can also help. A family member uses the equity in their own property as extra security, which can reduce or remove the deposit shortfall. It is not right for everyone, and it needs care, so it is worth talking through properly.
The point is this: there is rarely one fixed number. The deposit you need depends on the scheme, the property, and how we structure the loan. That is why mapping it out early matters, whether the plan is saving a set amount or using a guarantor.
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The honest answer we give first home buyers is usually to get into the market as soon as you sensibly can. Prices and rates move around constantly, and no one can time the market perfectly. What matters more is doing everything you can to optimise your application, so you are ready to move the moment the right home appears.
First home buyer activity across the country cooled through mid-2026 as buyers waited to see what rates and prices would do. That hesitation is understandable. But sitting on your hands waiting for a perfect moment often just means watching the goalposts move while you save.
So rather than trying to pick the bottom of the market, the better use of your energy is getting your finances in shape: a clear deposit plan, your paperwork in order, and a pre-approval in hand. When you are ready and a home comes up, you can act with confidence instead of scrambling.
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Buying your first home does not have to be confusing. We break it into five clear steps, and we handle the heavy lifting at each one.
You get in touch and tell us where you are up to. There is no cost and no commitment, and it does not affect your credit score.
We talk through your income, savings, and goals, then map out which schemes and grants you may be eligible for. This is where the plan comes together.
We arrange your pre-approval so you know your budget before you start making offers. Real estate agents take a buyer with pre-approval far more seriously.
Once you have found your home and your loan is approved, we guide you through the paperwork and explain every part of it in plain language.
Settlement is when the loan completes and the home is yours. We manage the lender and keep you informed the whole way through.
Mortgage brokers now arrange the clear majority of new home loans in Australia. The Mortgage and Finance Association of Australia (MFAA) reported that brokers settled a record share of all new residential home loans, the highest on record (mfaa.asn.au). More Australians are choosing a broker over going direct to a bank, and for first home buyers navigating this for the first time, that guidance is worth a lot.
You can read more about how the process works on our first home buyer home loans page, and you can get pre-approved with us when you are ready.
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You do not have to figure this out alone, and you do not have to have it all sorted before you talk to us. The earliest useful step is a conversation, so we can map your deposit, your grants, and your options into a plan you can actually work toward.
Give us a call or start your application online, and we will handle the heavy lifting from there. Fox Home Loans, your trusted mortgage broker on the Sunshine Coast, working with first home buyers here and clients right across Australia.
It is a free, friendly chat, with no obligation and no impact on your credit score.
Start your first home loan application or call us on 07 3505 3099.
 Bill Robb |
Bill has over 26 years of experience working in the finance industry. He has worked across a number of different businesses including Home Loans, Personal Loans, Collections and Insurances. Bill's passion is to utilise his knowledge and experience in the industry to assist clients in meeting their financial goals.
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Reviewed by: Nathan Drew ✅ Fact checked 📅 Last updated: Aug 06, 2026 |
A self-employed home loan is designed for sole traders, company/business owners, and contractors, using a variety of different options to assess income. This lets lenders fairly evaluate your borrowing capacity and provide loans tailored to your unique financial situation.
It can be used for buying a home, upgrading, refinancing, investing, or funding renovations, with flexible terms that recognise self-employed income.
Yes. Self-employed customers can access tailored home loans through Fox Home Loans. Lenders assess business income and financial documents to provide competitive loans for buying, upgrading, refinancing, investing, or renovating.
Our brokers guide you through the process, simplifying approvals and helping you secure the best loan for your circumstances.
A self-employed home loan can cover a wide range of purposes: purchasing your first home, upgrading to a larger property, refinancing an existing loan, buying an investment property, funding renovations or property development.
This flexibility ensures your loan matches your financial situation and long-term property goals.
Unlike standard home loans, self-employed home loans use a variety of different options to assess your income. This approach provides a fairer assessment of borrowing capacity for those with variable or non-traditional income streams.
It also allows access to competitive rates, flexible terms, and loans structured to suit self-employed borrowers.
