Buying a home is one of the most significant purchases you will make in your lifetime. What can be a daunting and complicated process, doesn’t need to be. QBANK’s home loan specialists can help you from initial enquiry through to settlement. But first, let’s discuss some key terms and definitions.
QBANK is proud to be a Participating Lender in the Australian Government's First Home Guarantee (FHBG) and Regional First Home Guarantee (RFHBG), to help first home buyers purchase a home sooner.
Interest Rate
Comparison Rate*
| Home Loans | Loan to Value Ratio | Interest Rate | Comparison Rate* |
| 1 Year Fixed^ | <95% | 6.14% PA | 7.90% PA |
| 2 Year Fixed^ | <95% | 5.99% PA | 7.67% PA |
| 3 Year Fixed^ | <95% | 5.69% PA | 7.40% PA |
| 4 Year Fixed^ | <95% | 6.09% PA | 7.36% PA |
| 5 Year Fixed^ | <95% | 6.14% PA | 7.23% PA |
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner.
The purpose of the First Home Guarantee (FHBG) is to support eligible home buyers to enter the housing market sooner.
It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value.
You can find more information about the FHBG and eligibility criteria on the Housing Australia Website.
From 1 July 2024 – 30 June 2025, 35,000 FHBG places are available.
To be eligible, home buyers applying for the FHBG must have a minimum 5% deposit, and can include first home buyers or previous home owners who haven't owned a property in the ten years prior to the date they execute their home loan.
Prior property ownership includes a freehold interest in real property in Australia (this includes owning land only), an interest in a lease of land in Australia with a term of 50 years or more, or a company title interest in land in Australia.
Australian citizens or permanent residents may apply.
Individual or joint applicants may apply for the First Home Guarantee. Joint applicants may include partners, friends, siblings, and other family members.
If you would like to know more about the FHBG please visit the Housing Australia Website. You can also download the First Home Guarantee (FHBG) Information Guide and the First Home Guarantee (FHBG) Fact Sheet. For more information about QBANK Home Loans (including credit eligibility criteria, terms and conditions, fees and charges) please visit our Home Loan Key Fact Sheet.
The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme.
The purpose of the Regional First Home Buyer Guarantee (RFHBG) is to help eligible regional home buyers to buy a home sooner, in a regional area.
It does this by allow Housing Australia to issue 10,000 guarantees each financial year for eligible loans to regional home buyers with a deposit of between 5 and 20% of the property value.
You can find more information about the RFHBG and eligibility criteria on the Housing Australia Website.
From 1 July 2024 – 30 June 2025, 10,000 RFHBG places are available.
A regional area is defined as:
as defined in the version published by the Australian Bureau of Statistics (ABS) in July 2016.
The great capital city areas of each state and the Northern Territory; and the entire Australian Capital Territory are excluded from the RFHBG. Home buyers in these areas may be eligible for the First Home Guarantee or the Family Home Guarantee.
To be eligible, home buyers applying for the RFHBG must have a minimum 5% deposit. They must have lived (or at least one applicant if applying as joint applicants) in the regional area or adjacent regional area they are purchasing in for the preceding 12-month period to the date they execute the home loan agreement.
Australian citizens or permanent residents may apply.
Employees who have been required to relocate for work may be exempt from this requirement and should check with their Participating Lender if this applies.
Individual or joint applicants may apply for the Regional First Home Buyer Guarantee. Joint applicants may include partners, friends, siblings, and other family members.
All other HGS eligibility criteria apply to all applicants.
Home buyers who are eligible for the RFHBG are not eligible for the First Home Guarantee.
Home buyers who are not eligible for the RFHBG may be eligible for the First Home Guarantee or the Family Home Guarantee.
For the RFHBG, eligible home buyers are only able to purchase in the regional area they have lived in for the preceding 12-month period (subject to the modified criteria for employees) or an adjacent regional area (ASGS SA4 2016).
The Regional Checker allows home buyers to enter the suburb (or postcode) of their current home and the suburb (or postcode) they would like to purchase in, so they can confirm if they would be eligible for the RFHBG.
The Regional Checker is available on the Housing Australia Website.
If you would like to know more about the RFHBG please visit the Housing Australia Website. You can also download the Regional First Home Guarantee (FHBG) Information Guide and the Regional First Home Guarantee (FHBG) Fact Sheet. For more information about QBANK Home Loans (including credit eligibility criteria, terms and conditions, fees and charges) please visit our Home Loan Key Fact Sheet.
Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.
Interest rates current as at 17 October 2024 and are subject to change without notice.
Fact Sheets are available here.
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.
^ After the expiry of the fixed rate period, the interest rate changes to QBANK’s Classic Variable Home Loan Product Rate (currently 8.09%p.a. for Owner Occupier | 8.11%p.a. Comparison Rate and 8.44%p.a. for Investor | 8.52%p.a. Comparison Rate).
^^ Additional Government charges and a $195 settlement fee still apply ($295 if construction loan).
~ Additional repayments limited to $10,000 per annum to a maximum of $30,000 in any fixed rate period.
