Blue Fox Finance Blue Fox Finance
Mortgage Broker Mobile Menu Call our Mortgage Broker Brisbane now!

Find out the best interest rates available:

Owner-occupied Home Loan
2.19% p.a.      4.02% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions.
Investment Home Loan
2.59% p.a.      4.56% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an investment residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions.
Car Loan
4.69% p.a.      6.625% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants financing a motor vehicle on a secured consumer fixed rate loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Conditions, fees & charges apply. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions.
Personal Loan
7.95% p.a.      9.34% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants getting a fixed rate personal loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Brokerage not included. Conditions, fees & charges apply.
Refinances available from:
2.19% p.a.      4.02% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions.
Pre-approvals available from:
2.19% p.a.      4.02% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions.

How much deposit do I need to buy a house in QLD

How much deposit do I need to buy a house in QLD?

Use this article as a starting point, however it is designed to give you a good idea of how much deposit you'll need to buy a house in Queensland in most cases. Most people will usually need an 8% deposit plus Government charges plus costs (usually about $3,000), please refer to the costs of buying a house in QLD.

5% deposit is possible - but generally requires a spot with the FHLDS (Google FHLDS to see) or a very strong applicant(s). Most of the time, you need an 8% - 9% deposit - usually 8% for loans under $500k, and 9% for applications over $500k, but this is a very rough guide. The 8% - 9% deposit is standard because most major and second tier banks will lend up to 95% of the property value (95% LVR), and putting in an 8% - 9% deposit covers the 5% required deposit plus lenders mortgage insurance. We've outlined below where an 8% - 9% deposit is likely possible.

An 8% - 9% deposit home loan is generally available to:
Permanent employees (1 payslip) or casual (3 months minimum)
Australian Permanent Residents or citizen.
Must have 'genuine savings' aka funds saved/held for 3 months. A rental ledger through a Real Estate Agent is available in some circumstances.
Good credit history.
Applicants that are self employed need to have been trading for 24 months.
Situations where you would need a 10% - 20% deposit:
If you've been self employed for less than 2 years. Refer to self employed home loan requirements for specific details.
If you have bad credit: generally more than 1 or 2 defaults will require 15% deposit or more.
If you don't have 'genuine savings', you will need a 10% - 15% deposit.
When buying an usual property: common examples are high density apartments in Brisbane CBD, or properties over 5 acres.
If you don't meet Lenders Mortgage Insurance's criteria, you may require a 20% deposit.
If you are not a permanent resident of Australia.

What different deposit amounts mean in QLD?

Using the minimum allowable deposit is a great option for many people to get into the housing market without saving a large deposit; however, if you have more funds available, there are distinct advantages for using a larger home loan deposit:

5% Deposit using the First Home Loan Deposit Scheme

First home buyers eligible for the FHLDS can buy at a true 5% deposit with no LMI costs, and is a great option where possible. You can check your eligibility here. There are a limited number of lenders available currently, with the 2 major banks not having any spaces left (as at 11/08/2020) unless another applicant cancels; officially, the Government will not be releasing new spots again. There are still some smaller lenders with spaces currently available and very competitive interest rates. Please contact us for assistance in getting a pre-approval and FHLDS reservation (valid for 3 months).

TLDR; How much deposit do I need in QLD?

Usually 8% - 9% of the purchase price. Talk to a Mortgage Broker in QLD to check your eligibility etc. We can do all checks and lodge the application on your behalf and don't charge any fees - if you found this information useful we would really appreciate you giving us a call.

DISCLAIMER: You must not rely on the information in the report as an alternative to financial advice from an appropriately qualified professional. If you have any specific questions about any financial matter you should consult an appropriately qualified professional. We do not represent, warrant, undertake or guarantee that the use of guidance in the report will lead to any particular outcome or result. The content, calculations and opinions contained in this article are of the writer only, and are not necessarily those of Blue Fox Finance.

Last updated: 
11 August, 2020
       Author: 
Zak Avery