Home Loans Brisbane

Your borrowing capacity depends on your income, expenses, existing debts, and the lender's criteria. Most lenders use a combination of your net income and a serviceability buffer (currently around 3% above the loan rate) to determine how much you can comfortably repay. As a general guide, many borrowers can access between four and six times their annual household income. We can provide a detailed assessment based on your specific financial situation.

Most lenders require a minimum deposit of 5% of the purchase price, although a 20% deposit will help you avoid paying Lenders Mortgage Insurance (LMI). First home buyers in Queensland may also qualify for government grants and guarantee schemes that reduce the upfront deposit required. Our brokers can help you understand the best strategy based on your savings.

LMI is a one-off insurance premium charged when your deposit is less than 20% of the property value. It protects the lender, not you, in the event of default. LMI can often be capitalised into the loan amount. Certain professionals such as doctors, lawyers, and accountants may qualify for LMI waivers with select lenders.

Pre-approval can be obtained in as little as one to three business days with many lenders. Full unconditional approval typically takes five to ten business days once all required documents are submitted. Our brokers work to expedite the process by ensuring your application is complete and compliant from the outset.

Fixing your rate provides certainty with consistent repayments over the fixed period, which can be valuable for budgeting. However, fixed loans often have restrictions on extra repayments and may incur break costs if you refinance early. Many borrowers choose a split loan (part fixed, part variable) to balance certainty with flexibility. We can help you weigh up the options based on your goals.

Yes, it is possible to obtain a home loan with a less-than-perfect credit history. We work with specialist non-conforming lenders who consider applications that mainstream banks may decline. Interest rates may be higher initially, but with a good repayment track record, you can often refinance to a more competitive rate within one to two years.

Queensland first home buyers may be eligible for the First Home Owner Grant (FHOG) of $30,000 for new homes valued up to $750,000. The First Home Guarantee scheme allows eligible buyers to purchase with as little as 5% deposit without paying LMI. Stamp duty concessions are also available for properties up to certain value thresholds. Our brokers stay across the latest schemes to help you maximise your entitlements.