Mortgage Broker: First Home Buyer Specialists in Queensland
Your trusted partner for navigating first home loans with confidence
Buying your first home is exciting, but the loan process doesn't have to be overwhelming. As specialist mortgage brokers for first home buyers, we simplify the journey from application to settlement, working with over 60 lenders to find the perfect loan for your situation.
Key Benefits:
- Access to 60+ lenders - Compare options you can't get directly
- Government scheme expertise - Navigate First Home Guarantee and assistance programs
- End-to-end support - From pre-approval to settlement, we handle the paperwork
How We Help First Home Buyers Secure the Right Loan
Getting into the property market is one of your biggest financial decisions. As experienced mortgage brokers specialising in first home buyer loans, we understand the unique challenges you face - from understanding eligibility criteria to navigating government assistance schemes.
Our personalised approach means we take time to understand your financial situation, explain your options clearly, and work tirelessly to secure competitive rates with participating lenders across Australia.
Why Choose Mason Finance Group:
- 900+ five-star Google reviews from satisfied clients
- Comprehensive lender network including major banks and specialist lenders
- Local Queensland expertise with deep market knowledge
- No upfront fees - we're paid by the lender, not you
Government Schemes & Assistance for First Home Buyers
First Home Guarantee Scheme
The First Home Guarantee allows eligible first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI). As experienced mortgage brokers, we help you understand:
- Eligibility requirements, including income caps and property price limits
- Participating lender options within our extensive network
- Application process and required documentation
- Property restrictions and location-specific guidelines
Additional Government Support
We also guide clients through other assistance programs, including:
- First Home Owner Grant schemes in Queensland
- Stamp duty concessions for eligible buyers
- Shared equity schemes were available
- Regional incentives for properties outside major cities
Our First Home Buyer Loan Process
From initial consultation to settlement, here are the steps to owning your first home.
-
Initial Consultation
We start with a comprehensive discussion about your goals, financial situation, and homeownership timeline. This helps us understand which loan products and government schemes might suit your circumstances. -
Lender Research & Recommendations
Using our network of 60+ lenders, we research and compare loan options, presenting you with tailored recommendations that match your deposit, income, and property preferences. -
Application Preparation
We handle all paperwork, ensuring your application is complete and professionally presented to maximise approval chances. This includes gathering required documents and preparing supporting statements. -
Pre-Approval Secured
Once approved, you'll receive confirmation of your borrowing capacity, typically valid for three months. This gives you confidence when house hunting and strengthens your position with vendors. -
Property Purchase Support
After finding your ideal property, we manage the formal loan application process, liaising with your lender to ensure smooth progression through to settlement. -
Settlement Day
We coordinate with all parties to ensure funds are released on time, keeping you informed throughout the final stages of your home purchase journey.
First Home Buyer Loan Types & Features
There are a number of loan types available to you; variable rates, fixed rates, guarantor loans and more, scroll through some of the options to get a better understanding of what the differences are. We’re here to answer your questions when you’re ready.
Variable Rate Home Loans
Interest rates that can change over the loan term, offering flexibility with features like:
- Unlimited additional repayments
- Redraw facilities for accessing extra payments
- Offset accounts to reduce interest charges
- No break costs if you refinance
Fixed Rate Home Loans
Lock in your interest rate for a set period (typically 1-5 years), providing:
- Predictable repayments for budgeting certainty
- Protection against interest rate rises
- Peace of mind during the fixed term
- Options to split between fixed and variable portions
Low Deposit Home Loans
For first home buyers with smaller deposits:
- 5% deposit options through government schemes
- Genuine savings requirements explained clearly
- Lenders Mortgage Insurance guidance and cost estimates
- Guarantor loan options using family property as security
Professional Package Loans
Discounted rates and fee waivers for eligible borrowers:
- Reduced interest rates on variable and fixed loans
- Annual fee covering multiple banking products
- Credit card and personal loan discounts
- Wealth management service access
Eligibility Criteria for First Home Buyer Loans
Government Scheme Eligibility
- Income caps vary by location and household size
- Property price limits are specific to each state and region
- Owner-occupier requirement - must live in the property
- First home buyer status with no previous property ownership
- Citizenship requirements for accessing government assistance
General Requirements
- Australian citizenship or permanent residency
- Stable employment history (typically 2+ years)
- Genuine savings demonstrated over 3-6 months
- Debt-to-income ratios within lender guidelines
- Clean credit history with no defaults or bankruptcies
Documentation Needed
- Recent payslips and employment contracts
- Bank statements showing savings history
- Tax returns and ATO Notice of Assessment
- Identification documents and proof of residency
- Existing debt statements and credit card limits
Understanding Borrowing Capacity & Loan Features
Factors Affecting Borrowing Power
- Your borrowing capacity depends on several key factors:
- Income stability and employment type
- Existing debts include credit cards and personal loans
- Living expenses and family commitments
- Deposit size and genuine savings are demonstrated
- Interest rate buffers applied by lenders
Important Loan Features to Consider
- Repayment frequency options (weekly, fortnightly, monthly)
- Extra repayment facilities to reduce the loan term
- Portability for taking your loan to a new property
- Construction loan options for building your first home
- Interest-only periods if temporary cash flow relief is needed
Calculators
In the realm of financial empowerment and planning, knowledge is your greatest ally. Use these calculators to get an idea of how much you can borrow and how much your repayments might be.
FAQs for first home buyers
We’ve got your questions covered.
How much deposit do I need as a first home buyer?
Traditionally, lenders prefer a 20% deposit to avoid Lenders Mortgage Insurance (LMI). However, many first home buyers can purchase with smaller deposits:
- 5% deposit through the First Home Guarantee scheme
- 10% deposit with LMI through various lenders
- Genuine savings requirements typically apply
- Gift funds from family may be acceptable with proper documentation
Can you help me access the First Home Guarantee scheme?
Absolutely. As mortgage brokers working with participating lenders, we can guide you through the First Home Guarantee application process. We'll assess your eligibility, explain property price caps in your target areas, and ensure your application meets all requirements for this government-backed scheme.
What's the difference between pre-approval and formal approval?
Pre-approval is conditional approval based on your financial information, valid for typically 3 months. It shows your borrowing capacity for house hunting. Formal approval occurs after you've found a property and includes property valuation and final credit assessment. We manage both stages to ensure smooth progression.
How do you choose which lender is best for my situation?
We analyse your specific circumstances against our network of 60+ lenders, considering:
- Interest rates and comparison rates
- Loan features that match your needs
- Approval criteria and your likelihood of acceptance
- Government scheme participation is relevant
- Ongoing service quality and flexibility
What ongoing support do you provide after settlement?
Our relationship doesn't end at settlement. We provide ongoing support, including:
- Annual loan health checks to ensure you're still getting competitive rates
- Refinancing advice when market conditions change
- Additional borrowing guidance for renovations or investment
- Rate monitoring and recommendations for fixing or switching
How are your services paid for?
We're typically paid a commission by the lender you choose, meaning our services are generally free to you. We'll always disclose our commission arrangements transparently and ensure you understand any fees before proceeding. Our goal is to find you the right loan, not the highest commission product.
Ready to Start Your First Home Journey?
Don't let the complexity of home loans delay your property dreams. As Queensland's trusted mortgage brokers for first home buyers, we're here to guide you through every step - from understanding government schemes to securing competitive rates with participating lenders.
Get started today:
- Free consultation to discuss your goals and options
- Pre-approval guidance to strengthen your property search
- Ongoing support from application through to settlement
Request Your Free Consultation
Contact Mason Finance Group today:
Phone: 07 5211 0099Office: Primary Central, Office 5, Level 1,
61-63 Primary School Court, Maroochydore, QLD 4558
Hours: Monday - Friday, 9am - 5pm