First Home Guarantee Brisbane South, QLD, The 2026 Guide

In 2026, the First Home Guarantee is one of the strongest pathways into Brisbane South, QLD's property market for buyers who've been waiting to save a 20% deposit. With just 5% down, no lenders mortgage insurance, and the government backing up to 15% of your purchase, you can secure your first home years ahead of the traditional timeline.

The scheme works differently to the old income caps and lottery-style applications - since October 2025, there are no income restrictions and places are allocated continuously rather than in limited rounds. Whether you're looking at Runcorn - Annerley or Coopers Plains across Brisbane South, the $1,000,000 price cap covers most suburbs in the region.

AE Finance Solutions helps first home buyers across Brisbane South, QLD navigate the First Home Guarantee alongside other schemes like the Queensland FHOG, completely free of charge.

Here's what you need to know about using the First Home Guarantee in Brisbane South before approaching a lender.

Why is the First Home Guarantee better than saving 20%?

The First Home Guarantee eliminates the biggest barrier most Brisbane South first home buyers face - lenders mortgage insurance. On a $700,000 purchase with 5% deposit, you'd normally pay approximately $21,000 in LMI. The government guarantee removes this cost entirely, and you're buying now rather than spending another 3-4 years saving a larger deposit while prices continue rising.

How does the First Home Guarantee work in Brisbane South, QLD?

You provide 5% deposit, the government guarantees up to 15% to the lender, and you borrow the remaining 80%. No LMI, no income caps since October 2025, and continuous allocation rather than limited rounds. The Brisbane South price cap is $1,000,000, which covers all suburbs in the region as of April 2026.

What first home buyer grants can you stack with the First Home Guarantee?

• Queensland FHOG:$30,000 for new homes under $750,000 (reduces to $15,000 from 1 July 2026). Cannot be used on established homes.
• Transfer duty exemption:$0 stamp duty on any new home purchase, or established homes up to $700,000. Full exemption with no price cap on new builds from 1 May 2025.
• First home loan products: professional packages, reduced rates, and fee waivers that many lenders offer specifically to first home buyers using government schemes.

• AE Finance Solutions Like to find out if you qualify for the First Home Guarantee? Eligibility rules can be complex and vary between lenders. A free chat with a Brisbane South mortgage broker gives you a clear picture - no commitment, no pressure. Free 15-min chat 60+ lenders No obligation Book a free chat today →

How do mortgage brokers help first home buyers get First Home Guarantee approval in Brisbane South, QLD?

Step 1: Talk to us

Get in touch and we'll assess whether the First Home Guarantee suits your situation and which lenders offer the strongest result on our 60+ panel.

Step 2: Pre-approval with guarantee allocation

We secure your First Home Guarantee allocation as part of the pre-approval process. This confirms your eligibility and reserve your place before you start property hunting.

Step 3: Property hunting with clear budget

With pre-approval and guarantee confirmed, you know exactly what you can spend across Brisbane South suburbs within the $1,000,000 price cap.

Step 4: Contract and finance clause

We review your contract terms and ensure your finance clause gives adequate time for final loan processing with the First Home Guarantee conditions.

Step 5: Final approval and settlement coordination

We manage the final loan approval process, coordinate with your solicitor, and ensure the guarantee documentation aligns with settlement requirements.

Step 6: Settlement and home ownership

You settle with just 5% deposit, no LMI, and immediate home ownership. We remain available for any refinancing needs as your circumstances change.

What mistakes do first home buyers make with the First Home Guarantee?

The biggest mistake is assuming all lenders handle the First Home Guarantee the same way. Some lenders have faster processing times, others offer better rates for guarantee customers, and a few provide additional first home buyer benefits on top of the scheme. Walking into your own bank first means you're comparing against just one option.

The second common error is not understanding how the guarantee interacts with other first home buyer benefits. You can stack the FHOG, stamp duty exemptions, and First Home Guarantee together on the right property type - but the rules differ between new and established homes, which affects your total savings and suburb options.

Which Brisbane South suburbs work best with the First Home Guarantee?

Every Brisbane South suburb sits within the $1,000,000 price cap, but your 5% deposit goes further in areas like Runcorn where houses median $1,068,000 and units $731,000. For new home purchases that qualify for both the guarantee and the $30,000 FHOG, look at suburbs with new developments like Eight Mile Plains or emerging areas in Rochedale.

Units provide the most accessible entry point - Coopers Plains units at $755,000 median or Moorooka units at $720,000 require just $35,000 to $40,000 deposit with the guarantee. Both suburbs showed strong unit growth in 2025 - Coopers Plains units up 28.13% and Moorooka units up 22.03%.

• AE Finance Solutions Ready to find out which suburbs and loan structure give you the strongest start? We compare loans from 60+ lenders across Brisbane South. Free service, no cost to you. Free 15-min chat 60+ lenders No obligation Book a free chat today →

Frequently Asked Questions

Can I use the First Home Guarantee on any property type in Brisbane South?

Yes, the First Home Guarantee applies to houses, units, townhouses, and new builds across all Brisbane South suburbs under $1,000,000. Off-the-plan purchases are also eligible.

Do I need to be an Australian citizen to use the First Home Guarantee?

No, permanent residents are also eligible for the First Home Guarantee. Temporary visa holders do not qualify for the scheme.

Can I still get the First Home Guarantee if I earn over $125,000?

Absolutely - income caps were removed from the First Home Guarantee in October 2025. Your income affects your borrowing capacity but not your scheme eligibility.

What happens to the government guarantee when I sell my home?

The guarantee automatically ends when you sell or refinance. You never repay the guarantee amount to the government - it simply protected the lender during your ownership period.

Can I renovate a home purchased with the First Home Guarantee?

Yes, you can renovate freely once you own the property. The guarantee doesn't restrict what you do with the home after settlement.

Should I use the First Home Guarantee or save a bigger deposit and go to my bank directly?

A mortgage broker, every time. The guarantee saves you approximately $21,000 in LMI on a $700,000 purchase, gets you into the market 3-4 years earlier, and a broker comparison finds the lender with the best rate and terms for guarantee customers.

How long does First Home Guarantee approval take in Brisbane South?

Most lenders process First Home Guarantee applications within 7-14 days once they have all documents. The guarantee allocation happens as part of pre-approval, so there's no separate waiting period.

Your Next Steps

Getting the First Home Guarantee right in Brisbane South means more than just qualifying for 5% deposit - it's about finding the lender who offers the best rates for guarantee customers and understanding how to stack it with other first home buyer benefits. The difference in total cost can be tens of thousands over the life of your loan.

Ready to find out which Brisbane South suburbs and lenders give you the strongest result with the First Home Guarantee? Contact Abel Desta for a free consultation or call 0422 868 524. We'll assess your situation across our 60+ lender panel and identify the best combination of scheme benefits and loan structure for your goals.

AE Finance Solutions · Eight Mile Plains and Brisbane South, 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.