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Buying your first home

Buying your first home will be one of the biggest financial decisions you will make in your life, and we’re here to help you every step of the way.

Apply for pre-approval  Book a Mobile Lender

Offer

No Annual fee for the life of the loan! Plus other great offer & rates for First Home buyers see all

Applicable for Owner Occupier First Home Buyers who have never previously purchased a property. An eligible home loan is a First Home Buyers Standard Variable Special Offer or First Home Buyers 5 Year Fixed Rate Special Offer with minimum new home lending in the Home Package Plus of $150,000.

First things first

Before you put your hand up at an auction or make an offer on that home of your dreams, there are a few things you should consider beforehand:

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.

Understand what you can afford to buy

Understand the costs involved

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.

Know what you need for a deposit

Get pre-approval

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

More about getting pre-approval

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.

 

Deposit KickStart

Deposit KickStart lets owner-occupiers use the equity in the home of a family member towards the purchase of your new owner-occupied home – to help kick start your dream. With Deposit KickStart, you can avoid the need of paying Lenders Mortgage Insurance without the 20% deposit.1

 

Low Deposit Option

Our Low Deposit Option enables you to borrow up to 95% of the property’s confirmed value, and is available to owner occupiers.2

 

First Home Owners Grant

If your state or territory offers a First Home Buyers Grant and you're eligible, this is a great way to boost your deposit, especially for those purchasing a new home.

The First Home Owners Grant is a government scheme offering a one-off grand payable to eligible first homers who are looking to be owner-occupiers.

We can make it easy for you by processing the grant application with your Suncorp Bank Home Loan. Ask us how.

Understanding home loans

Fixed Rates

A fixed interest rate is where the interest rate is fixed for a set period of time, so repayments remain constant for that period. 

Variable Rates

A variable interest rate changes from time to time based on underlying rules, regulations or financial indexes.

Principal & Interest or Interest only

If you have a standard home loan, the repayments you make will require you to pay off a portion of the principal as well as paying interest charges. An Interest-Only loan, however, will only require you to pay the interest charges but not any of the principal during the interest-only period. It is important to remember that your repayment amount will increase when your interest only period ends and you begin principal and interest repayments

Home Loan Packages

Having multiple accounts with different banks can get messy and complicated when making repayments. A home loan package allows you to combine your eligible home loan, transaction account and other products into a single package to make life simper for you.

Mobile Lenders

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.

More about Mobile Lenders

Choose from our great range of Home Loans

Back to Basics

No ongoing account keeping fees

Find out more

Discounted Back to Basics Variable Rate
with Better Together Special
New to bank lending >= $150,000
Maximum LVR 90%
Principal and Interest repayments

Standard Variable

100% offset facility available

FIRST HOME BUYER OFFER!

Find out more

Discounted Standard Variable Rate in Home Package Plus
Applicants must be first home buyers
New to bank lending >= $150,000
Maximum LVR 95% (inc. LMI)
Principal and Interest Repayments

Fixed Rate

Repayment & rate certainty

FIRST HOME BUYER OFFER!

Find out more

Discounted 5 Year Fixed Rate in Home Package Plus
Applicants must be first home buyers
New to bank lending >= $150,000
Maximum LVR 95% (inc. LMI)
Principal and Interest Repayments

View our Suncorp Bank home loan interest rates or generate a facts sheet for one of our loans.

 Offers for First Home Buyers

No annual fee for the life of the loan

We’ll refund the annual $375 Home Package Plus fee for the life of the loan saving you up to $11,250 over a 30 year loan

Applicable for Owner Occupier First Home Buyers who have never previously purchased a property. An eligible home loan is a First Home Buyers Standard Variable Special Offer or First Home Buyers 5 Year Fixed Rate Special Offer with minimum new home lending in the Home Package Plus of $150,000.

Receive a $1,000 cash payment

When you take out an eligible home loan that requires Lenders Mortgage Insurance (LMI)^^.

Applicable for Owner Occupier First Home Buyers who have never previously purchased a property. An eligible home loan is a First Home Buyers Standard Variable Special Offer or First Home Buyers 5 Year Fixed Rate Special Offer, with Principal and Interest repayments and minimum new home lending in the Home Package Plus of $150,000.

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.

Apply for pre-approval  Book a Mobile Lender

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Insights and guidance

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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).

* Advertised discounted rate valid from 14 September 2018, is subject to change without notice and may be withdrawn at any time. 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 rate is based on Principal and Interest, Back to Basics Variable (currently variable interest rate of 5.19% p.a.) less net discount of -1.40% 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. Everyday Basics Accounts are issued by Suncorp Bank. Please read the relevant Product Information Document for Suncorp Bank and the Terms and Conditions for before making any decision regarding this product. These documents are also available at Suncorp Bank stores or on our Product Information Documents and Forms page.

+ Advertised rate valid from 14 September 2018, is subject to change without notice and may be withdrawn at any time. Available for new Personal/Owner Occupied loans >= $150,000 where borrowings <= 95% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable). Disclosed rate is based on Principal and Interest, Standard Variable (currently variable interest rate of 5.77% p.a.) less package net discount of -1.78% 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.

Advertised rate valid from 14 September 2018 is subject to change without notice and may be withdrawn at any time. Available for new Personal/Owner Occupied purpose loans >= $150,000 where borrowings <= 95% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable). Disclosed rate is based on Principal and Interest, Standard 5 Year Fixed Rate (currently fixed interest rate of 4.34% p.a.) with inclusive discount of -0.35% p.a. At expiry of the Fixed Rate Term, the rate will revert to the then Principal and Interest, Standard Variable (currently variable interest rate of 5.77% p.a.) less the Home Package Plus net discount (currently -1.78% p.a.) available at the time you entered into the Package. A discount is applied for as long as the loan remains part of the Home Package Plus. The discount may be varied if the loan purpose or repayment type is changed before settlement. The applicable Standard Fixed Rate offered on the day of settlement of the loan will apply unless the rate is secured by paying a Guaranteed Rate Fee. 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 and excluded

The Home Package Plus (HPP) Discounts are applied for as long as the home loan remains part of the Home Package Plus. Interest rates and discounts are subject to change without notice. Discount margins may be withdrawn at any time before a contract is entered into. Discounts are applied to the applicable Standard Interest Rate at the day of Settlement.

Loan to Value Ratio ("LVR") limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. A repayment type of interest only is available on loans with an LVR limit <90%. At the expiry of the interest only period, the rate will convert to the applicable Principal & Interest Rate plus or minus any applicable margins specified in your credit contract.

# 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.

^^ 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 31 March 2019 and settled on or prior to 30 June 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). An eligible home loan is a First Home Buyers Standard Variable Special Offer or First Home Buyers 5 Year Fixed Rate Special Offer, with Principal and Interest repayments and minimum new home lending in the Home Package Plus of $150,000. 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.

Variable Rate

A rate that is variable and is subject to change over the loan term.

Fixed Rate

Lock in your interest rate and repayment amount

Comparison Rate

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.