Low deposit home loans, explained before you apply

A small deposit does not mean a small chance. John specialises in low-deposit purchases for first home buyers and upgraders across Logan, Brisbane and the Gold Coast, and checks which door fits, a government scheme, a guarantor or a small-deposit lender, before an application goes anywhere.

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Direct help from John · General information first · Rated 5.0 on Google

Author: John Carson-Zangor Credit representative: 537545 · ACL 387856 Last reviewed: 9 September 2026 Methodology: Human review of lender criteria and official sources Reviews: 5.0-star Google client reviews

Low deposit check

Which door fits: scheme, guarantor or a small-deposit lender

Most lenders want 20 percent to avoid mortgage insurance. Below that you either pay the insurance, use a scheme that replaces it, or use a lender that prices the risk differently. John works out which one fits your budget and which one you actually qualify for.

DepositWhat you have against what each door needsCapsPrice and income limits for each schemeMonthlyThe repayment at 95 percent, in dollars

5% Deposit Scheme and 2% single-parent eligibility
Boost to Buy and Queensland Housing Finance Loan checks
Price cap and income cap test for your suburb
Queensland first home duty concession
Repayment at 95 percent versus 80 percent, side by side

General information only. No approval is promised. Any next step depends on the facts, documents, credit position and lender criteria.

Check my low deposit options

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Tell John what you are trying to do. He will review the basics and get in touch to talk through your options.

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John aims to respond by the end of the next business day. Credit assistance is subject to assessment, lender policy and responsible lending requirements.

Low deposit policy checks

Four doors exist in Queensland right now, and each has its own rules.

The 5% Deposit Scheme and the 2% single-parent option

An Australian Government scheme for first home buyers: 5 percent deposit, no mortgage insurance, owner-occupied, principal and interest, through participating lenders only. Price caps apply by location, higher in Brisbane and the Gold Coast than in regional Queensland. Single parents and legal guardians may qualify with 2 percent.

Boost to Buy and the Queensland Housing Finance Loan

Boost to Buy is the Queensland Government's shared-equity scheme, from a 2 percent deposit, with the state holding an equity share; income and price caps apply. The Queensland Housing Finance Loan is a state loan for people the banks will not lend to, with its own deposit and income rules.

Small-deposit lenders and guarantors

A few lenders go to 95 percent or higher with their own fee instead of mortgage insurance, or with a 2 percent deposit product. They cost more each month and suit strong incomes with thin savings. A family guarantee avoids insurance without a scheme, and John checks whether the guarantor can carry it.

General information only. Lender policy changes often, and personal credit assistance depends on your objectives, financial situation and full assessment.

Low deposit questions

How much deposit do I really need?

Five percent plus costs is the practical floor for a first home buyer using a scheme. Outside a scheme, expect mortgage insurance below 20 percent unless a lender charges its own fee instead.

Can I use the 5% Deposit Scheme if I am self-employed?

Yes, if you meet the participating lender's income evidence. The scheme sets the deposit and price rules; the lender sets the income rules.

Do I need to be a first home buyer?

For the 5% Deposit Scheme and Boost to Buy, yes, or not owned property in Australia for the last ten years for the federal scheme. Upgraders use guarantors or small-deposit lenders instead.

What does a 5 percent deposit cost each month?

On a $650,000 purchase with a $32,500 deposit the loan is $617,500. John shows the monthly repayment at current rates next to the same purchase with a 20 percent deposit, so the difference is in dollars before you decide. Rates depend on the lender and your file.

Can my deposit be a gift?

Most lenders accept gifted deposits with a signed letter. Some still want a record of genuine savings, especially above 90 percent.

Does stamp duty change the answer?

Yes. The Queensland first home duty concession can remove transfer duty entirely under the thresholds, which matters more at 5 percent deposit than at 20.