First Home Buyer Loans

Buying your first home is one of life's biggest milestones, but it can feel complex. At Max Rich, our job is to make your journey into the Southeast Queensland property market simple, clear, and successful. We are your local specialists, here to turn your home ownership dream into a reality.

Your First Home Loan in the Gold Coast

Getting into the SEQ property market is a huge financial decision. From confusing contracts and industry jargon to property inspections and sealing the deal, it's easy to feel overwhelmed. We're here to be your trusted guide. Like the homes on your wishlist, no two loans are the same. We take the time to understand your specific situation, step-by-step, and compare over 60 banks and lenders to find the perfect loan for your first home. We'll also help you navigate any government incentives you may be eligible for, like the Queensland First Home Owner Grant.

Our 6-Step Path to Your First Home

From our first chat to getting the keys in your hand, this is our proven process designed specifically for first home buyers.

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1

Your Property Goal Session

It all starts with a chat. We'll meet in person or online to discuss your goals, your savings, and your opportunities. We’ll map out a clear strategy and a realistic budget to get you started on the right foot.

2

Loan Strategy & Comparison

Once we understand your needs, we research hundreds of products from our panel of over 60 lenders. We’ll present you with a shortlist of the most suitable loan options, explaining the pros and cons of each so you can make a confident choice.

3

Securing Your Pre-Approval

Found the right lender? Now you can relax. We handle all the paperwork, lodging your application to get you primed and ready for a formal pre-approval. This is the green light you need to start house hunting seriously.

4

Know Your Budget & Start Searching

With your pre-approval confirmed, you'll know your exact borrowing power. This amount is typically valid for 90 days and gives you a clear price range. It’s time for the exciting part – finding your new home in Gold Coast, Brisbane, or wherever your heart is set!

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5

From Offer to Unconditional Approval

You've found the one and your offer has been accepted! While you celebrate, we work tirelessly in the background with the lender, valuer, and your conveyancer to progress your application to unconditional approval.

6

Settlement Day: Getting the Keys!

This is it, your big day! It’s time for settlement, where the ownership officially transfers to you. Sit back and enjoy the moment; we'll monitor everything and let you know the second it's finalised and you can pick up your keys. the funds, putting the keys to your first home in your hand!

Explore your loan options & their features.

The right loan structure is just as important as a great interest rate. There are several options available, including variable rates, fixed rates for certainty, and guarantor loans that could help you get into the market sooner. We're here to explain the differences in simple terms and answer all your questions, ensuring you choose the feature that best suits your lifestyle.

Variable rate loan

A Variable Rate Loan is a home loan where the interest rate can move up or down according to market conditions. Its greatest strength is flexibility.

Fixed rate loan

A Fixed Rate Loan locks in your interest rate for a set term, typically from 1 to 5 years. This means your repayment amount will not change for the entire fixed period, regardless of what happens in the market.

Split Loan

A Split Loan offers the best of both worlds by allowing you to divide your total home loan balance between two parts: one with a fixed interest rate and the other with a variable interest rate.

Packaged Loan

A Packaged Loan (or Professional Package) bundles multiple financial products, like your home loan, a credit card, and a transaction account, for a single annual fee.

Introductory Rate Loan

An Introductory Rate Loan (or 'Honeymoon' Rate Loan) is a variable rate loan that offers a discounted interest rate for an initial period, such as the first 12 months.

Interest Only Loans

An Interest Only loan is a strategic tool where your repayments only cover the interest on the loan for a set period (typically 1-5 years). This results in lower initial repayments, which is ideal for property investors looking to maximise their cash flow and tax deductions.

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Guarantor Home Loans

A Guarantor Home Loan is a fantastic way to get into the Gold Coast property market sooner, even with a small deposit. A guarantor, usually a parent, uses the equity in their own home to provide additional security for your loan.

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Helpful calculators.

Explore your financial possibilities and understand potential costs with these handy calculators.

Borrowing Calculator

Use the calculator to find out how much you could borrow.

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Budget Planner Calculator

Use this budget planner to help understand your income and expenses, and where you could make savings.

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Extra Mortgage Repayments Calculator

You could potentially save thousands of dollars and take years off your loan by making extra repayments. Let’s run the numbers.

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Honeymoon Rate Loan Calculator

A honeymoon loan can help reduce your monthly repayments for a set term. Use this calculator to compare what your repayments would be compared to a variable loan.

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Income Tax Calculator

The income tax calculator can be used to calculate your net income.

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Loan Comparison Calculator

Different loans have different fees, features and repayment options. Use our loan calculator to see how the numbers stack up between two loans.

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Loan Repayment Calculator

Use this repayment calculator to understand how much your loan repayments might be.

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Lump Sum Repayment Calculator

This home loan repayment calculator helps you calculate the savings benefits of making additional lump sum repayments on your home loan.

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Mortgage Offset Calculator

Use the calculator to see how quickly you could pay off your loan with an offset account.

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Savings Planner Calculator

Use the calculator to find out how much you could save.

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Stamp Duty Calculator

Find out how much budget you need to set aside to cover Stamp Duty costs and what the requirements are in your state or territory.

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Frequently asked questions.

View our full FAQs
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Can I get a mortgage with bad credit?

While having bad credit can make it more challenging to secure a mortgage, it is not impossible. Some lenders specialize in offering loans to individuals with lower credit scores.

Options for Borrowers

Borrowers with bad credit may consider options such as FHA loans, which are designed for those with less-than-perfect credit. Additionally, improving credit scores before applying can increase the chances of approval.

Can you help me figure out my borrowing capacity?

Absolutely. Your borrowing capacity is a calculation of how much a lender will loan you based on your income, debts, and living expenses. While online calculators offer a rough estimate, we provide a far more accurate and reliable assessment. We will analyse your financial situation to give you a clear budget and help you secure a formal pre-approval, which is the green light you need to search for property with real confidence.

How does a bridging loan work?

A bridging loan is a short-term loan that covers the financial gap when you buy a new property before selling your existing one. It allows you to use the equity in your current home to secure your next one. Once your old home is sold, the proceeds are used to pay down the bridging loan, leaving you with just the final mortgage on your new home.

How long does it take to close?

The time it takes to close on a mortgage can vary, but it typically ranges from 30 to 45 days. Factors that can influence this timeline include the lender's processing speed, the complexity of the loan, and the responsiveness of all parties involved.

Tips for a Smooth Closing

To ensure a smooth closing process, maintain open communication with your lender and promptly provide any requested documentation.

How much can I borrow?

Your borrowing capacity depends on several factors, including your income, financial commitments, living expenses, and the size of your deposit. While online calculators provide a rough estimate, our detailed assessment provides a much more accurate figure. We do this as part of a formal pre-approval process, so you know exactly what your budget is before you start looking.

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How much deposit do I need to buy a property?

While a 20% deposit is the traditional benchmark to avoid paying Lenders Mortgage Insurance (LMI), it is not the only way to buy a home on the Gold Coast. Many lenders now accept deposits as low as 5%. We can also explore other powerful strategies, such as using a Guarantor Loan, or utilising government schemes like the First Home Guarantee to help you enter the market sooner.

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Talk to us today about your options.

Let’s chat today and find the right solution for you. Whether you’re buying your first home, expanding your business, or upgrading your vehicle, Maxine and the Max Rich Brokerage team provide expert, obligation-free guidance across the Gold Coast, Logan, Brisbane, and the Scenic Rim, tailored to your goals.

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