First Home Buyer Checklist in East Brisbane, QLD: The 2026 Guide

In 2026, first home buyers in East Brisbane, QLD are entering the market with more support available than at any point in the past decade. Between the Queensland First Home Owner Grant, full stamp duty exemptions on new homes, and the federal First Home Guarantee letting you buy with just a 5% deposit and no lenders mortgage insurance, the combination of schemes available right now is genuinely stacking in your favour - if you know how to use them together.

The challenge is that every scheme has its own rules, price caps, and eligibility conditions. Whether you're looking at units in Coorparoo - Woolloongabba or Cannon Hill across East Brisbane, understanding which schemes apply to your purchase - and in what order to apply - makes a real difference to what you walk away with on settlement day.

AE Finance Solutions helps first home buyers across East Brisbane, QLD work through their first home loan options across 60+ lenders, completely free of charge.

Here's the complete 2026 checklist - what you need, what you qualify for, and how to get from "thinking about it" to "keys in hand."

What do first home buyers in East Brisbane, QLD actually need to get started?

The two most common reasons first home buyers delay is thinking they don't have enough deposit, or not knowing which lenders will approve them. Both are worth addressing before anything else. The minimum deposit through the First Home Guarantee is 5% of the purchase price, and with the $1,000,000 price cap covering all East Brisbane suburbs, a 5% deposit on a $750,000 purchase sits at $37,500 - achievable for most buyers who have been saving consistently.

On top of your deposit, you'll need to budget for upfront costs. Conveyancing fees, building and pest inspections, and loan establishment fees all add up. A practical rule of thumb is to hold an additional 2% of the purchase price in savings beyond your deposit. If you're buying a new home or eligible established home, first home buyers in QLD currently pay $0 stamp duty - which removes what was historically the largest upfront cost. Always verify your exact position with the Queensland Revenue Office calculator before committing.

What are the first home buyer grants and schemes available in East Brisbane, QLD in 2026?

East Brisbane buyers have access to four distinct layers of support in 2026. The best outcomes come from stacking the ones you qualify for, and understanding which combinations are possible before you start looking at properties.

• Queensland First Home Owner Grant (FHOG):$30,000 cash grant for new home purchases under $750,000, available until 30 June 2026. From 1 July 2026 this reduces to $15,000. New homes only - established properties are not eligible. The grant applies at settlement.
• QLD Transfer Duty (Stamp Duty) Exemption: First home buyers purchasing a new home in Queensland pay $0 stamp duty with no price cap, effective 1 May 2025. For established homes, the full exemption applies up to $700,000, with a partial concession up to $800,000.
• First Home Guarantee (FHBG): The federal government guarantees up to 15% of your loan, letting you buy with a 5% deposit and no lenders mortgage insurance (LMI). Income caps were removed in October 2025, so all first home buyers are now eligible. The price cap for East Brisbane is $1,000,000.
• Queensland Boost to Buy (Shared Equity): The state government co-purchases up to 30% of a new home or 25% of an established home alongside you, starting from a 2% deposit. Available to first home buyers earning under $150,000 (single) or $225,000 (couple or single with dependants), with a $1,000,000 price cap. Places are limited - Round 2 had 500 spots available.

How do mortgage brokers help first home buyers get approved in East Brisbane, QLD?

Step 1: Talk to us

Get in touch and we'll assess your deposit, income, and employment situation to confirm which schemes and lenders apply to your purchase. This is where most first home buyers realise they're further ahead than they thought.

Step 2: Get pre-approved

We submit a pre-approval application with the lender best suited to your situation. Pre-approval confirms your borrowing capacity before you make an offer - which puts you in a much stronger position at auction or in a private sale negotiation.

Step 3: Confirm your scheme eligibility

We cross-check your purchase against the relevant scheme conditions - property type, price cap, FHOG eligibility for new vs established, and whether the First Home Guarantee or Boost to Buy is the stronger option for your deposit level and income.

Step 4: Review your loan options

We compare offers across our 60+ lender panel and present your strongest options side by side. Variable rate, fixed rate, offset account, redraw - we explain what each feature means in dollar terms for your specific loan size and repayment strategy.

Step 5: Submit your formal application

Once you have a signed contract, we coordinate the formal loan application and liaise with your conveyancer and the lender to keep everything on track for your settlement date. We handle the paperwork, the chasing, and the updates.

Step 6: Settlement and beyond

We stay in touch after settlement - tracking your rate against what's available in the market, flagging any better options as they emerge, and making sure your loan continues to work hard for you as your circumstances change.

What mistakes do first home buyers in East Brisbane, QLD commonly make?

Going to one bank first is the most expensive mistake a first home buyer can make. Your bank can only show you what they offer - which may not be the lender best suited to your income type, deposit size, or the property you're buying. The difference in rate, LMI treatment, and serviceability assessment across 60+ lenders can shift your borrowing capacity and your monthly repayments by amounts that matter. Getting a broker comparison first takes the same amount of time and costs you nothing.

The second most common mistake is rushing to buy before checking scheme eligibility. If you make an offer on an established home priced above $800,000 without realising the stamp duty concession no longer applies, or sign a contract on a property that doesn't meet the FHOG's "new home" definition, you lose access to the grants you were counting on. Navigating these rules is exactly what a broker comparison is designed to catch before you commit.

What are the best entry-point suburbs for first home buyers in East Brisbane, QLD?

East Brisbane has genuine options for first home buyers at the unit end of the market, particularly in suburbs where the median unit price sits within the $750,000 FHOG cap. In Woolloongabba , the median unit price is $752,500, and in Cannon Hill units sit at $820,000 - with the latter sitting above the FHOG cap but still within the First Home Guarantee's $1,000,000 price limit. Kangaroo Point units have a median of $815,000 and have grown 14.79% over the past 12 months, reflecting strong demand from both owner-occupiers and investors in the inner-east corridor.

For buyers who have a little more flexibility, Morningside offers a unit median of $910,000 with 16.67% growth over the same period - a suburb where the First Home Guarantee (not the FHOG) is the relevant scheme to stack. The distinction matters: the FHOG applies to new homes under $750,000, while the First Home Guarantee covers purchases up to $1,000,000 regardless of property type. Knowing which applies to your target suburb and property type before you start inspecting is the checklist item most first home buyers skip.

Frequently Asked Questions

Can I use the First Home Owner Grant and the First Home Guarantee together?

Yes - and combining them is one of the strongest positions a first home buyer can be in. The FHOG provides $30,000 cash (until 30 June 2026) on new home purchases under $750,000, while the First Home Guarantee lets you buy with a 5% deposit and no LMI on purchases up to $1,000,000. Both can apply to the same purchase if the property is a new home priced under $750,000 and you meet the eligibility conditions for each scheme.

Do I pay stamp duty as a first home buyer in East Brisbane, QLD?

No - if you're buying a new home in Queensland, you pay $0 stamp duty with no price cap as of 1 May 2025. For established homes, the full exemption applies up to $700,000, and a partial concession applies between $700,001 and $800,000. Above $800,000 on an established home, full stamp duty applies. The Queensland Revenue Office has a calculator to confirm your exact position.

What deposit do I need as a first home buyer in East Brisbane?

The minimum is 5% through the First Home Guarantee, which removes the need for LMI by having the government guarantee the remaining portion of your deposit up to 20%. Without a scheme, most lenders require 20% to avoid LMI, or 10% with LMI added to the loan. The right deposit strategy depends on your savings, your timeline, and which lender your broker recommends for your situation.

What documents do I need to apply for a first home loan?

Most lenders need two recent payslips, your last two years of tax returns or notices of assessment, three months of bank statements showing your genuine savings, photo ID, and a signed contract of sale once you've made an offer. If you're self-employed, you'll typically need two years of lodged business and personal tax returns. Your broker will give you a specific document checklist before you apply.

Can I use the Queensland Boost to Buy shared equity scheme instead of the First Home Guarantee?

They serve different purposes. Boost to Buy reduces the amount you borrow by having the government co-purchase part of the property alongside you, which lowers your repayments. The First Home Guarantee doesn't reduce your loan - it removes the LMI cost on a low-deposit loan. Which is better depends on your income, deposit level, and long-term ownership goals. A broker comparison will identify which works harder for your specific numbers.

Should I use a mortgage broker or go directly to my bank as a first home buyer?

A mortgage broker, every time. Your bank can only show you their own products - a broker compares 60+ lenders and identifies which one assesses your income most favourably, which lenders participate in your scheme, and which combination of rate, features, and LMI treatment gives you the best outcome. For first home buyers stacking multiple schemes, lender selection matters more than almost any other single decision.

What happens if I buy an investment property before my first home?

You lose access to the First Home Owner Grant, the First Home Guarantee, and the stamp duty exemption - permanently. Once you own any investment property in Australia, you are no longer a first home buyer for scheme eligibility purposes. If you're considering rentvesting before buying your own home, talk to a broker first to understand what you're giving up and whether the strategy makes financial sense for your situation.

Your Next Steps

Getting your first home loan right is about more than finding a low rate. The right lender for your situation - combined with the right combination of schemes - can mean $30,000 in grant money, $0 stamp duty, and no LMI cost on a 5% deposit, all at the same time. Those outcomes vary significantly depending on which lender you choose and how your application is structured, which is exactly what a broker comparison is designed to deliver.

Ready to find out which lenders give first home buyers the strongest result in East Brisbane, QLD? Contact Abel Desta for a free consultation or call 0422 868 524. We'll compare your options across 60+ lenders and find the right combination of rate, scheme eligibility, and loan structure for your deposit, income, and goals.

About the Author Abel Desta Mortgage Broker, AE Finance Solutions Abel is a mortgage broker at AE Finance Solutions, helping buyers across Coorparoo, East Brisbane and the surrounding suburbs finance their homes. Abel Desta is a credit representative (467836) of LMG Broker Services Pty Ltd, Australian Credit Licence 517192. Based in Eight Mile Plains, he compares loans across a panel of 60+ lenders, at no cost to the borrower. Meet Abel → LinkedIn

AE Finance Solutions · Eight Mile Plains and East Brisbane, QLD · General information only — this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.