Available Government Schemes for First Home Buyers

The First Home Loan Deposit Scheme and New Home Guarantee are Australian Government initiatives to support eligible first home buyers purchase a home. The Australian Government has also announced a new program called the Family Home Guarantee, which provides eligible single parents the opportunity to build a new home or purchase an existing home. More information is available via nhfic.gov.au

 


 

First Home Buyer - First Responder Exclusive Offer

Available to Queensland Police Service (QPS), Queensland Fire and Emergency Services (QFES), Queensland Ambulance Service (QAS), Queensland Corrective Services (QCS) and Queensland Health Employees only.

Home Loan Loan to Value Ratio Interest Rate Comparison Rate*
Classic Variable <95% + LMI 3.19% pa 3.22% pa
3 Year Fixed3 <95% + LMI 3.19% pa 3.70% pa
Eligibility

The First Home Buyer <95% LVR + LMI is available to Queensland Police Service (QPS), Queensland Fire and Emergency Services (QFES), Queensland Ambulance Service (QAS), Queensland Corrective Services (QCS) and Queensland Health Employees only.

To be eligible for the above rates, a salary credit of at least $1,500 per month must be deposited into your QBANK transaction account. You must have a minimum deposit of 5% (plus any additional costs). Principal and Interest Only. New lending only.

Product Breakdown

You will have the option to add Lenders Mortgage Insurance (LMI) to your loan amount, rather than paying upfront. (total Loan to Value Ratio (LVR) including LMI not to exceed 100%).

Full pre-approval service valid for three months~

 


 

First Home Buyer

Choose from a wide range of fixed and variable rate options with QBANK’s First Home Buyer options to help you get into the property market.

Variable
Home Loan  Loan to Value Ratio Interest Rate   Comparison Rate*
Special Offer Classic (Variable) <95% Including LMI 2.99% pa 3.02% pa
Special Offer Classic Plus (Variable) <95% Including LMI 3.19% pa 3.53% pa
Classic (Variable) <95% Including LMI 3.84% pa 3.87% pa
Classic Plus (Variable) <95% Including LMI 4.14% pa 4.45% pa

2 To be eligible for the above rates, a salary credit of at least $1,500 per month must be deposited into your QBANK transaction account.

Fixed
Home Loans Loan to Value Ratio Interest Rate Comparison Rate*
1 Year Fixed <95% Including LMI 2.19% pa   3.71% pa
2 Year Fixed <95% Including LMI 2.19% pa 3.58% pa
3 Year Fixed <95% Including LMI 2.19% pa 3.45% pa
4 Year Fixed <95% Including LMI 2.49% pa 3.42% pa
5 Year Fixed <95% Including LMI 2.49% pa 3.33% pa
Who is this suitable for?

The above rates are suitable for Members who are looking to purchase their first home, who have a minimum deposit of 5% (plus any additional costs).

Product Breakdown

You will have the option to add Lenders Mortgage Insurance (LMI) to your loan amount, rather than paying upfront. (total Loan to Value Ratio (LVR) including LMI not to exceed 95%).

Ready to start your journey?

   

Save On Home Insurance With QBANK

Take out your home building and/or contents insurance policy through us and get 20% off your first year's premium (capped at $200).#

  

Contact Us

Credit eligibility criteria, terms and conditions, fees and charges apply.
Interest rates current as at 15 September 2021 and are subject to change without notice.
Subject to lenders mortgage insurance approval.

Target Market Determination is available here.

* WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term.

 # This product is issued by QBE Insurance (Australia) Limited (ABN 78 00 3 1 91 035, AFS License 239545). QBANK (under its own AFSL) acts on behalf of QBE when distributing the Home Cover and Home Cover Prestige insurance policies.​ Please read the PDS available at https://www.qbank.com.au/home-insurance before acquiring this product in considering and deciding whether this is right for you.

~ Pre-approval service provides a conditional loan approval. Approval by the bank and the lenders mortgage insurer and is valid for 3 months from time of approval. It is subject to valuation of the secured property that must be acceptable to the bank. Other conditions may apply.

Footnotes:

  • 1 Special Offer is valid for home loan applications of $150,000 or more for owner occupiers and is available for a limited time only. Interest only not available. Offer may be withdrawn at any time. Offer not valid for redraw of advance repayments, existing QBANK members switching loans or internal refinances.
  • 2 Special Offer Owner Occupier rate is valid for home loan applications of $150,000 for owner occupiers and is available for a limited time only. Interest only not available. Offer may be withdrawn at any time. Offer not valid for redraw of advance repayments, existing QBANK members switching loans or internal refinances.
  • 3 After the expiry of the fixed rate period, the interest rate changes to QBANK’s Classic Variable Home Loan Product Rate (currently 3.84%p.a. for owner occupier and 4.19%p.a. for investor).