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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How to apply for a mortgage?

Applying for a mortgage involves several steps. First, gather necessary documents such as proof of income, tax returns, and credit history. Next, research different lenders and mortgage products to find the best fit for your needs.

Steps to Follow

  1. Gather financial documents.
  2. Check your credit score.
  3. Shop around for lenders.
  4. Submit your application.

Following these steps can streamline the mortgage application process.

How will you decide which loan is best suited to my circumstances?

Our recommendation is based on a combination of your personal situation and our legal obligation under the Best Interest Duty. We conduct a detailed analysis of your financial goals, income, and needs. We then use this information to compare hundreds of products from over 60 lenders, assessing not just the interest rate, but also fees, features, and lender policies to find the loan we believe is genuinely best for you.

Should I rent or buy?

This is a major financial decision with pros and cons on both sides. Buying allows you to build equity and provides long-term stability, while renting offers flexibility and fewer responsibilities. We can help you understand all the costs and financial commitments involved in buying a property on the Gold Coast, giving you the clarity to make an informed decision that’s right for you.

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Should I use a bank or broker?

A bank can only offer you its own limited range of products. As your mortgage broker, we offer you a choice from over 60 different lenders. We work for you, not the banks. Our role is to understand your unique needs, compare the market to find a suitable loan, and manage the entire process from application to settlement, saving you time and stress.

What are closing costs?

Closing costs are fees associated with finalising a mortgage transaction. These costs can include loan origination fees, title insurance, appraisal fees, and more. Typically, closing costs range from 2% to 5% of the loan amount.

Importance of Closing Costs

Being aware of closing costs is essential for buyers, as they can significantly impact the overall cost of purchasing a home.

What are the types of mortgages?

There are several types of mortgages available to borrowers, each with its own features and benefits. The most common types include:

  • Fixed-Rate Mortgage: The interest rate remains the same throughout the life of the loan.
  • Adjustable-Rate Mortgage (ARM): The interest rate may change at specified times, usually resulting in lower initial payments.
  • Interest-Only Mortgage: The borrower pays only the interest for a certain period, after which they begin paying off the principal.

Choosing the right type of mortgage depends on individual financial situations and long-term goals.

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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