Your First Home Loan

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The thought of buying your first home can often be very daunting and you need advice from not only family and friends, but your mortgage broker. We are here to assist you in every way possible to ensure a smooth process.


There are three options when buying your first house, you can either:

  • Purchase an establish property,
  • Purchase a house and land package or
  • Purchase a block of land to build your new home

With purchasing an established property you are only entitled to stamp duty concessions, as currently the Queensland Government offers no grants.

When purchasing either a house and land package or building a new home, the current grant from the Queensland Government is $15,000 (as per current legislation 2018). Stamp duty concessions also applies. Other Australian States and Territories have differing Grants available for first home owners – please contact us as we can inform you of your entitlements.

Once you have decided to buy or build, in order for you to obtain a mortgage you will require the following:

  • 100 point identification check (driver’s licence, birth certificate & passport however if you are unable to supply these, there are alternatives)
  • Employment can be full time, permanent part time, and in some cases casual (we require wage slips either weekly, fortnightly or monthly)
  • A deposit of a minimum of 5% of the value of the property you are purchasing. (This needs to be saved over a minimum of 3 month period. Alternatively, if you have 15% or more, then genuine savings is not required for many financial institutions)
  • Alternatively, a number of banks will accept an application under their family pledge policy (conditions apply)
  • A solicitor or a conveyancer (we can advise you of a number of legal practitioners that will help with your purchase and settlement of your property)

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Let the team at Multi Choice Home Loans Wide Bay assist you with the calculated repayments for your first home.

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