First things first
Know your budget
Buying a home is a major financial decision and one that can be the greatest assets of your life. It’s important to know what you can afford to buy and know the associated costs that come with buying a home so you can maintain a positive lifestyle once you have a mortgage.
Do your research
There is a lot to know when buying a home, and knowing a little bit more than your competition can get you over the line on auction day. Owning a home is generally a long-term commitment, so know what kind of home you want to live in, in what suburb and how much it’s going to cost you.
Pre-approval is where a mortgage lender agrees, in principal, to lend you a certain amount of money for you to buy a home, but it is not a full or final approval. You will need to do some running around and gathering paperwork, but it’s worth it so you know where your buying limit lies
Ways to get into your new home sooner
Here at Suncorp we offer products aimed at getting First Home Buyers onto the property ladder sooner, plus you also may be eligible for the First Home Owners Grant.
Understanding home loans
Principal & Interest or Interest only
Home Loan Packages
Mobile Lenders are your own dedicated home loan specialists. They provide one point of contact throughout, keeping you up to date every step of the way. They are available 7 days a week and will meet at a time & place that suits you. In some cases, our Mobile Lenders can even approve your new home loan on the spot.
Back to Basics
No ongoing account keeping fees
100% offset facility available
FIRST HOME BUYER OFFER!
Repayment & rate certainty
FIRST HOME BUYER OFFER!
Get pre-approval to find out how much you may be able to borrow, so you can make an offer on a property with more confidence or talk to one of our Mobile Lenders. They will be in touch within the next business day to discuss what you're after & arrange a time/place to meet, if that is preferred.
Insights and guidance
The information is intended to be of a general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.
Any advice contained in this document has been prepared without taking into account your particular objectives, financial situation or needs. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product. Contact us for a copy.
1. To approved applicants only. Exclusions and max loan amounts apply. Fees and charges, including government fees and charges apply. Conditions apply to all products, loan options, discounts and packages and are available from Suncorp-Metway Ltd ABN 66 010 831 722. Australian Credit Licence Number 229882.
2. To approved applicants only. Exclusions and maximum loan amounts apply. Suncorp Bank will lend you 95% of the purchase price or valuation (whichever is the lower). You will need to contribute all bank, legal and government fees and charges associated with the purchase of the property. Lenders Mortgage Insurance will be required and may be included in loan amount (conditions apply).
* Discounted Back to Basics Variable Rate with Better Together Special Offer
Advertised discounted rate/comparison rate valid from 19 July 2019, is subject to change without notice and may be withdrawn at any time. Offer available for new Personal/Owner Occupied >=$150,000 where borrowings <=90% of the security property value (LVR) inclusive of lenders mortgage insurance (where applicable) and who hold a Suncorp Bank transaction account. Disclosed comparison rate is based on Principal and Interest, Back to Basics Variable (current variable interest rate of 4.80% p.a.) less net discount of -1.51% p.a. Rate and discount may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. Banking products are issued by Suncorp Bank. Please read the relevant Product Information Document and the Terms and Conditions before making any decision regarding this product. These documents are also available at Suncorp Bank stores on our Product Information Documents and Forms page.
+ Discounted Standard Variable Rate with Home Package Plus
Advertised discounted rate valid from 2 August 2019, is subject to change without notice and may be withdrawn at any time. Offer available for new Personal/Owner Occupied >= $150,000 where borrowings <= 90% of the security property value (LVR) inclusive of lenders mortgage insurance (where applicable). Disclosed Interest Rate is based on Principal and Interest, Standard Variable (currently variable interest rate of 5.38% p.a.) less package net discount of -1.79% p.a. A discount is applied for as long as the loan remains part of the Home Package Plus. Rate and discount may be varied if the loan purpose or repayment type is changed. Pre-approvals excluded.
‡ First Home Buyer Special Offer – Discounted 5 Year Fixed Rate in Home Package Plus
Discounted rate special offer is only available for new personal/owner occupied loans taken out as part of the Home Package Plus >= $150,000 and borrowings <= 95% of the security property value (LVR) inclusive of lender’s mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (currently 3.59% p.a.) is calculated by subtracting a discount of 0.15% p.a. from the Standard 5 Year Fixed Rate (currently 3.74% p.a.). At the expiry of the 5 Year Fixed Rate Term, the loan will revert to the applicable Standard Variable Rate advertised at the time (currently 5.38% p.a.) less the Home Package Plus discount (currently 1.79% p.a.). The discounted rate is only applicable to the 5 Year Fixed Rate loan while the loan remains in a Home Package Plus. The discounted rate is available on eligible loans applied for from 19 July 2019. Rates and discounts are subject to change. The Standard 5 Year Fixed Rate applicable on the day of settlement of the loan will be used to calculate the applicable discounted fixed rate unless the rate has been secured by paying a Guaranteed Rate Fee, which must be selected at time of loan application. Offer available for Owner Occupier first home buyers who have never previously purchased a property; all applicants for the loan must be first home buyers. Pre-approvals excluded.
# COMPARISON RATE WARNING:
Each comparison rate is based on $150,000 over 25 years. These comparison rates apply 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. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
∇ No annual fee for the life of the loan valid from 12/09/2017 and is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. The annual package fee of $375 will be charged and refunded for the life of the loan, expiring only if the loan is closed or varied out of the product or package.
^^ First Home buyer – cash payment – LMI Insured Loan Offer
Is available to first home buyers with minimum new to bank lending of $150,000 in the Home Package Plus, with Principal and Interest repayments on one or both of the following products: First Home Buyers Standard Variable Special Offer and/or First Home Buyers 5 Year Fixed Rate Special Offer. Offer is valid for applications received on or between 23 January 2019 and 30 September 2019 and settled on or prior to 28 December 2019, with a Loan to Value Ratio of 80% or more on the total lending and where the loan is insured by Lenders Mortgage Insurance (LMI). A limit of one (1) payment of $1,000 will be made to a borrower and if there is more than 1 borrower one (1) payment will be made to them jointly. Each borrower, whether individually or jointly, can only ever receive a payment of $1,000 once. The $1,000 cash payment will be credited to the linked Everyday Options account which forms part of the Home Package Plus within 30 days of the settlement date. Suncorp Bank reserves the right to terminate the offer at any time. Applications subject to credit approval. Full terms and conditions will be included in our loan offer.
Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products or services provided by other entities of the Suncorp Group. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product.
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882. Please read the relevant Product Information Document and the Terms and Conditions before making a decision regarding any product. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.
A rate that is variable and is subject to change over the loan term.
Lock in your interest rate and repayment amount
A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product. For more information about the comparison rate and the comparison rate warning, please refer to the things you should know section of this page.