Think you need a 20% deposit to buy a home? Think again. Across Brisbane, more first home buyers are getting into the market with just 5%, and some with even less. In this post, we’ll explain how it works, what support is available, and how 369 Home Brokers can help you make it happen.

Low Deposit Loans Explained

Several lenders now offer home loans that require only 5% of the purchase price as a deposit. That means if you're looking at a $500,000 home, you might only need $25,000 to get started. With the right loan structure, your repayments could be similar to what you're already paying in rent.

Government Schemes Make It Easier

Eligible first home buyers in Queensland can access the First Home Owner Grant (FHOG) of $30,000 for new builds. Some may also qualify for stamp duty concessions and shared equity schemes, helping reduce the upfront burden. We stay across every scheme to make sure you don’t miss out.

Lenders Mortgage Insurance (LMI) – What to Know

If you’re borrowing more than 80%, most lenders will apply Lenders Mortgage Insurance (LMI) – but some offer no-LMI options for eligible first home buyers, particularly if you're applying through a broker. This can save you thousands and get you into a home sooner.

You Don’t Need a Perfect Credit Score

We help buyers with all kinds of financial backgrounds. Even if your credit isn't perfect or you’ve had a few hiccups in the past, there may still be a way forward. What matters most is your income, stability, and what you're trying to achieve. We’ll guide you step by step.

Ready to Explore Your Options?

Let’s see what’s possible. With just a free 15-minute call, we can give you a rough idea of your borrowing power and show you what types of homes are available in your price range. If you’ve got a steady income and at least a small deposit, you’re probably closer than you think.