Available Government Schemes for First Home Buyers

The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible home buyers purchase a home sooner. The Home Guarantee Scheme includes the following Guarantees:

First Home Guarantee (FHBG) and Regional First Home Guarantee (RFHBG), previously known as the First Home Loan Deposit Scheme – for eligible first home buyers.

Family Home Guarantee (FHG) – for eligible single parents with dependents. More information is available via www.housingaustralia.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 6.64% PA 6.66% PA
3 Year Fixed^ <95% + LMI 5.79% PA 7.43% PA

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~



Once you understand your budget and how much you can borrow, you can apply for pre-approval. Pre-approval shows your borrowing power and could help you secure a property. It is valid for 3 months and provides you with conditional loan approval for a home loan subject to specific conditions, giving you the confidence when searching, enquiring, and making offers on properties. It is important to note that a pre-approval is subject to valuation of the chosen property that must be acceptable to the bank and other conditions may apply.~

When you apply for your pre-approval our lenders take into account:

Your Personal
Financial Situation
Your Budget,
Debts & Assets
The Deposit You Are Contributing
Your Credit History



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Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.

Interest rates current as at 3 May 2024 and are subject to change without notice.

Subject to lenders mortgage insurance approval.

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 secured loan amount of $150,000 over a 25 year term.

~The pre-approval service provides you with a preliminary, conditional loan approval. It is subject to QBANK’s credit eligibility criteria and lending terms and conditions. QBANK and our mortgage insurer must both pre-approve the proposed loan amount, term and conditions. The pre-approval is valid for 3 months from the date it is granted. Final approval of the loan is subject to QBANK receiving a valuation of the secured property. Additional settlement conditions may apply.

2 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).


  • 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.