1st Home Buyer Queensland

1st Home Buyer Queensland Opportunities with Luxe Finance Group

Purchasing your first home in Queensland is an exciting milestone, and Luxe Finance Group is here to help make that experience as smooth as possible. Specialising in Home Finance & Mortgage Broking, we provide access to home loan options from banks and lenders across Australia. Our services cater specifically to 1st Home Buyers in Queensland, ensuring you can confidently step into the property market. With our expertise, you can explore various 1st time home buyer programs and schemes, including the 1st Home Owner Grants (FHOG), designed to assist you in buying your first home.

Understanding the financial landscape is crucial for 1st Home Buyers in Queensland. One of the primary considerations is the interest rate on your home loan. Luxe Finance Group offers guidance on both fixed and variable interest rates, helping you decide which option best suits your financial situation. Fixed interest rates provide stability, allowing you to plan your finances with certainty. On the other hand, variable interest rates might offer more flexibility, potentially benefiting you if interest rates fall. Our brokers will work with you to explore interest rate discounts and ensure you get the most suitable deal.

Another important aspect to consider is the loan amount you can borrow. Luxe Finance Group assists in assessing your borrowing capacity, taking into account factors such as income, expenses, and existing debts. We streamline the application process by helping you gather necessary documents like bank statements and understanding your loan to value ratio (LVR). This ratio is crucial as it affects the lenders mortgage insurance (LMI) you might need to pay if your deposit is below a certain percentage of the property's value. Our aim is to simplify the process of applying for a home loan so that you can focus on finding your dream home.

For 1st Home Buyers in Queensland, understanding the benefits of various packages is essential. Luxe Finance Group provides insights into options like offset accounts, which can reduce the interest paid over the life of your loan. Additionally, we help you explore 1st time home buyer schemes that might offer concessions on stamp duty or other costs associated with buying a home. These benefits can significantly impact your overall financial commitment, making it easier to manage your new mortgage.

When considering investment properties, Luxe Finance Group also offers advice on investment loan options. If you're planning to purchase your 1st investment property, we guide you through the investment loan application process. Our brokers have access to banks and lenders nationwide, ensuring you receive competitive offers tailored to your investment goals. Whether you're buying your first home or expanding your property portfolio, Luxe Finance Group provides comprehensive support every step of the way.

The property market in Queensland presents numerous opportunities for 1st Home Buyers. Luxe Finance Group is committed to helping you understand these opportunities and make informed decisions. From getting pre-approved for a loan to exploring various packages and benefits, our team is here to support you. As you embark on this exciting journey of buying your first home, trust Luxe Finance Group to provide the expertise and resources you need.

Luxe Finance Group stands ready to assist 1st Home Buyers in Queensland with every aspect of purchasing a property. Our comprehensive services ensure that you're well-equipped to tackle the financial aspects of buying a home. Whether you're interested in exploring 1st time home buyer programs or securing an investment loan, our team is here to guide you. Contact us today to begin your journey towards owning your first home in Queensland with confidence and clarity.

First Home Buyer Incentives in Queensland

• A one-off, tax-free payment of up to $30,000 for eligible first-time buyers purchasing or building a new home as their principal place of residence.
• Applicable to new homes or substantially renovated properties.
• Property value limits: less than $750,000 (including land and any contract variations)
• The grant amount is based on the contract:
• $30,000 for contract signed between 20 November 2023 and 30 June 2025
• $15,000 for contract signed after 30 June 2025

https://qro.qld.gov.au/property-concessions-grants/first-home-grant/eligibility/

2. Stamp Duty Concessions

• Eligible first home buyers in Queensland pay no stamp duty on established homes valued up to $700,000.
• Concessional rates apply for established homes valued between $700,001 and $800,000.
• For vacant land, full exemption applies up to $350,000, with concessions up to between $350,001 and $499,999 (contract signed before May 2025)
• From 1 May 2025, newly built homes or residential vacant land may be fully exempt from stamp duty, regardless of their value.

https://www.qld.gov.au/housing/buying-owning-home/home-buyers-financial-help/transfer-duty

3. First Home Guarantee (FHBG)

A federal initiative allowing eligible first-time buyers to purchase a home with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI).

• Administered by: Housing Australia

• Availability: 35,000 places for FY2024–25

• Eligibility criteria:

• Having an income of up to $125,000 for individuals or $200,000 for joint applicants, as indicated in the Notice of Assessment issued by the Australian Taxation Office

• Intending to use the property as your primary residence

• Being a first homebuyer or a previous homeowner who hasn’t owned property in Australia for past ten years

• Property price caps apply; for Queensland, currently $700,000 for the capital city and regional centres Gold Coast, Sunshine Coast and $550,00 for the rest of the state.

Anticipated Future Changes Effective January 1, 2026:

The Australian Government has announced forthcoming enhancements to the FHBG, expected to take effect from 1 January 2026:

• Removal of Income Caps: All first home buyers will be eligible regardless of income.
• Elimination of Annual Cap on Places: The previous limit of 35,000 places per year will be removed, allowing unlimited access to the scheme.
• Increased Property Price Caps:
• Brisbane and major regional centres: Expected to rise to $850,000.
• Rest of Queensland: Expected to increase to $650,000.

These changes aim to broaden access to the scheme and assist more Australians in achieving home ownership.

https://www.housingaustralia.gov.au/support-buy-home/first-home-guarantee

If you're considering purchasing your first home in Queensland and want to take advantage of these incentives, feel free to reach out for personalised advice and assistance by booking a discovery call https://luxefinance.com.au/book-appointment/

Understanding the Lending Process for 1st Home Buyer Queensland with Luxe Finance Group

1. Booking Your Strategy Session

Your loan journey begins with a scheduled appointment—either in person at our West Perth office, via video, or over the phone. During this stage, we confirm your goals and timelines, whether you're purchasing, refinancing, or investing, and outline what to expect in the process ahead. You’ll receive a welcome email containing a digital fact find and a tailored document checklist. To ensure an efficient consultation, we ask that you prepare supporting documents including identification, proof of income, and details of any liabilities.

Outcome: Create a relationship with a professional that sits on your side of every transaction.

2. Financial Review & Strategy Consultation

Before the consultation, we undertake a preliminary review of your financial position, including income, assets, liabilities, credit history, and your ongoing expenses. This allows us to tailor the discussion and present relevant options from the outset. In your consultation, we explore your financial and lifestyle goals, property strategy, and any applicable structures such as trusts or companies. We also assess your eligibility for relevant government incentives like the First Home Guarantee or stamp duty concessions. Based on your banking conduct and preferences, we assess your borrowing capacity across our panel of lenders and outline strategic loan structuring options that suit your objectives.

Outcome: A clear understanding of your financial position and an aligned loan strategy with relevant lenders shortlisted.

3. Lender Policy Analysis & Pricing Strategy

With your financial position and goals clarified, we conduct a targeted analysis of lending policies, ensuring shortlisted options align with your needs. We assess more than just interest rates—we consider policy fit, speed of assessment, and the lender's risk appetite. We also explore your eligibility for government schemes, request discretionary pricing where applicable, and assess structural elements such as fixed vs variable rates or offset accounts. This stage ensures we present a tailored shortlist of lending options with clearly outlined pros and cons.

Outcome: Transparent shortlist of suitable and competitive options, enabling informed lender selection.

4. Confirming Lender Selection

Once pricing, policy, and structure have been finalised, we present a clear recommendation for the most appropriate lender and product. This includes confirming the fixed and variable interest mix, identifying features such as redraw or offset facilities, and exploring any cashback offers or ongoing fee waivers. At this stage, we’ll also determine whether your application proceeds as a pre-approval (for property search) or formal approval (if a contract is already in place).

Outcome: Lender confirmed and loan documentation prepared.

5. Lodgement & Tracking

We manage your application from submission through to decision, ensuring accuracy and speed throughout. This includes compiling all required documentation and submitting the application via lender platforms. You’ll receive real-time updates via email, SMS, or phone, and we’ll proactively engage with credit assessors, escalate where necessary, and manage any information requests to avoid delays.

Outcome: Application lodged and professionally managed through to decision.

6. Pre-Approval or Formal Approval

At this stage, your application is assessed and conditionally or formally approved. If you’re still property hunting, a pre-approval provides a 90-day conditional lending limit, allowing you to negotiate confidently and act quickly when the right opportunity arises. If you’ve already secured a property, formal approval will be issued once all conditions—including a satisfactory valuation and compliance checks—are met. This approval unlocks the final steps toward property ownership.

Outcome: You’re formally equipped to secure your property or finalise your purchase with full lender support.

7. Settlement & Ongoing Support

We work closely with your solicitor or conveyancer and your lender to ensure settlement proceeds smoothly. This includes coordinating document signing, verifying disbursement instructions, and managing final loan conditions. Post-settlement, we assist you in setting up access to your loan account, offset arrangements, and repayment schedules to ensure everything is in order.

Outcome: Settlement complete—your new property or structure is now funded and fully operational.

8. Post-Settlement Check-In & Loan Strategy Review

Our commitment doesn’t end at settlement. Luxe Finance provides ongoing guidance, with check-ins at 6 and 12 months to review your loan’s performance and ensure it remains competitive. We offer annual repricing services, refinancing alerts when suitable, and structured discussions for future borrowing strategies. Whether you're planning renovations, expanding your portfolio, or simply monitoring market trends, we remain your trusted lending partner.

Outcome: You stay ahead of market movements with a strategy that evolves alongside your financial goals.