For many people buying their first home is the biggest financial decision they'll ever make. It’s exciting, but it can also be a little overwhelming.
The following tips are designed to help you move with confidence through each stage of your journey.
1. Research, research, research
When it comes to buying property, the more you know the better. Learn as much as you can about the area you’re looking to buy in and what it takes to apply for a loan.
2. Be clear on your goals, and stick to them
There comes a point where too much information can get in the way. Figure out exactly what you want, and don’t want, in a property and a loan. It’ll help cut out the noise.
3. Be prepared, act quickly
The housing market moves fast. To keep up you have to be prepared. Having the right documents ready and knowing the right questions to ask will ensure you move confidently towards your dream property.
4. Don’t do it alone
People you trust are really important to have around as you embark on the journey towards homeownership. From real estate and buyers agents to brokers, conveyancers and family - make sure you’re getting the support you need.
Here’s a few key steps before, during and after you find your first home.
Whether you’re looking to lock in a fixed interest rate for stability or enjoy more financial freedom with flexible loan features, there’s a home loan offer to suit your needs.
Browse the options below or to see all products visit our home loan rates page.
Lenders mortgage insurance is required for home loans over 80% LVR and is subject to approval. T&Cs, fees, charges and lending criteria apply. Rates displayed above are available for new owner-occupier borrowings of $150,000 and over with principal and interest repayments and a minimum deposit of 30% for Low Cost and No Frills Home Loans and 20% for the 3 Year Fixed Home Loan. Investment loans, interest only repayments and deposits of less than these amounts are available for some loans (subject to approval). Different interest rates apply. Contact us for more details.
Entering the world of property and home loans can be overwhelming. This video helps you understand the core concepts in just two minutes.
Our home loan calculators are designed to help you compare our products and find out how much you could save or borrow when you bank with us.
For everything you need to know about buying your first home, read our comprehensive guide and make your next move with confidence.
Aakash shares his experience on taking out his first home loan with Qudos Bank and how that led him to buying his dream home.
Got questions? We've got answers.
If you don’t have the required home loan deposit (usually 20% of the property price), you may have the option of paying LMI to secure a loan.
LMI is insurance that Qudos Bank takes out to insure itself against the risk of not recovering the outstanding loan balance if a customer is unable to meet their loan payments and the property is sold for less than the outstanding loan balance.
It’s important to note that LMI is insurance that protects the lender, not you (or any guarantors) against loss. Only the lender can make a claim under the LMI policy.
The LMI premium is paid by the borrower either as a one-off fee at loan settlement or it can be included in the loan amount. LMI added to the home loan amount will increase the loan amount, resulting in higher interest charges and minimum monthly repayments.
LVR stands for Loan-to-Value Ratio. It’s the ratio of how much you borrow to how much the property is worth, expressed as a percentage. So, if your home costs $100,000 and you borrow $80,000, your LVR is 80%. In this example you would need to contribute $20,000 of your own money to purchase the property, giving you 20% equity in the property.
Banks like Qudos Bank use this ratio to assess the risk of a loan - a higher LVR may indicate a higher risk for the lender, while a lower LVR shows the borrower has more of their money invested in the purchase and may therefore present a lower risk to the lender.
The answer really depends on a range of factors, but many home loan lenders will lend up to 95% of the property value with LMI, or 80% without. Saving a deposit equivalent to 20% of the purchase price of your ideal home, if you are able, means you won't need to pay LMI.
Potentially! The First Home Super Saver Scheme (FHSSS) is a government program to help first-home buyers save up a deposit.
Subject to eligibility criteria, you can make voluntary contributions to your super and then apply to have the money released, up to $15,000 in a financial year (total $50,000 across all years) when you’re ready to make a purchase your home. The limit applies per person, so couples can access up to $100,000 in total.
See what other government schemes you may be eligible for here.
A home loan allows buyers to pay for a property over time. The home loan is secured by a mortgage which is an agreement between you and a lender that provides security to the lender by giving them certain rights. For example, the terms of a mortgage usually give the lender the right to take possession of the property if you fail to repay the loan.
Approved applicants only. Normal lending criteria, terms and conditions and fees and charges apply.
Lenders mortgage insurance is required for home loans over 80% LVR and is subject to approval.
For interest only loans, only monthly repayment option available. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
You should read and consider the relevant terms and conditions (available on request) and our Financial Services Guide before deciding whether to obtain any of our financial products or services. Target Market Determination available here.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
Standard variable interest rate which your account will revert to after the introductory offer.
Intro variable rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Annual fee charged upon account opening and annually thereafter.
Interest free days on purchases only apply if your account is paid in full by the due date each month. Excludes cash advances and BPAY transactions. Payment must be received by Qudos Bank by close of business.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 12.84% p.a. for Visa Lifestyle, 16.35% p.a. for Visa Lifestyle Plus and 19.49% p.a. for Visa Platinum Credit Cards.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 12.84% p.a.
Construction period is up to the date the final progress payment is made or 12 months from the date we first advance money to you, whichever is earliest.
Product deposit requirements vary, split options must meet the highest minimum deposit amount.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Access the 24/7 Visa Premium Concierge service in Australia on 1800 639 607. For country contact numbers, terms and conditions and more information, click here.
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305, (Qudos Bank), which allows eligible Qudos Bank account holders and cardholders to claim under the group policy as a third party beneficiary by reason of the statutory operation of Section 48 of the Insurance Contracts Act 1984 (Cth). The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Complimentary Travel Insurance Policy Information Booklet: Effective 22 May 2024 which may be amended from time to time. An excess may be deducted from any benefit paid. Qudos Bank does not guarantee this insurance.
A maximum amount of $150,000 applies for vehicles up to 3 years old and $75,000 for vehicles between 3 and 5 years old.
Eligible purchases do not include cash advances, ATO payments, Bpay, interest, balance transfers, fees and charges or traveller's cheques and foreign currencies - these do not earn Qantas Points. For the full list of exclusions, please refer to the Credit Card Terms and Conditions. Qantas Points can be earned on a maximum of $200,000 of eligible purchases per customer for each 12 month period, commencing from the date your account is opened and each account anniversary thereafter (Eligible Transaction Cap), regardless of the number of Qudos Bank Platinum Credit Cards held by you.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Selected Qantas products and services are the following items purchased directly from Qantas: Qantas passenger flights (with a QF flight number) Qantas Frequent Flyer and Qantas Club membership joining and annual fees. Excludes Jetstar, Qantas Holidays, Qantas branded non-airfare products and any Qantas products and services not purchased directly from Qantas, purchases from Qantas Freight, Qantas Holidays, Qantas Business Travel, Jetset Travel world channels, Qantas Staff Travel, the Jetstar Group of companies or goods or services supplied by QFF Program partners.
Eligible purchases do not include cash advances, ATO payments, Bpay, interest, balance transfers, fees and charges or traveller's cheques and foreign currencies - these do not earn Qantas Points. For the full list of exclusions, please refer to the Credit Card Terms and Conditions. Qantas Points can be earned on a maximum of $200,000 of eligible purchases per customer for each 12 month period, commencing from the date your account is opened and each account anniversary thereafter (Eligible Transaction Cap), regardless of the number of Qudos Bank Platinum Credit Cards held by you.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305, (Qudos Bank), which allows eligible Qudos Bank account holders and cardholders to claim under the group policy as a third party beneficiary by reason of the statutory operation of Section 48 of the Insurance Contracts Act 1984 (Cth). The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Complimentary Travel Insurance Policy Information Booklet: Effective 22 May 2024 which may be amended from time to time. An excess may be deducted from any benefit paid. Qudos Bank does not guarantee this insurance. Any advice has been prepared without taking into account your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.
Access the 24/7 Visa Premium Concierge service in Australia on 1800 639 607. For country contact numbers and more information, click here.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable rate
Current standard variable interest rate is 19.49% p.a.
Annual fee charged upon account opening and annually thereafter.
Up to 55 days interest free on purchases only applies if your account is paid in full by the due date each month. Excludes cash advances and BPAY transactions. Payment must be received by Qudos Bank by close of business.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 16.35% p.a.
If you would like to request a larger amount, please call us on 1300 747 747.
A maximum amount of $150,000 applies for vehicles up to 3 years old and $75,000 for vehicles between 3 and 5 years old.
Rate applies to term deposits account opened during the term of your Qantas Points Home Loan. Special terms of 3, 6, 9 and 12 months are available and are upon request.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Mortgage insurance is required for home loans over 80% and is subject to approval.
An establishment fee of $600 applies to this loan.
Waived annually whilst signed up to the Value Package. Only available for one Visa Platinum Credit Card per Value Package.
Repayment Holidays are not available on interest only loans. Applications are subject to Qudos Bank’s approval.
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. An unsecured loan of $10,000 with a term of 3 years, or a secured loan of $30,000 with a term of 5 years (as applicable) and a monthly repayment frequency have been used to calculate the comparison rate for all personal loans.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Home Loan, Qantas Points Saver and Qantas Points Car Loan, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Bonus Rate applied if no withdrawals are made during the month.
WARNING: The 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. The comparison rates assume a loan of $150,000 for 25 years. For fixed rate loans, the comparison rate is based on the initial fixed rate period, reverting to the current interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment). For fixed interest only loans, the interest only period is equal to the fixed period.
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. Fixed rate may change prior to funding. On expiration of the fixed rate period, the interest rate will revert to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% of more, for the relevant purpose (ie. owner-occupied or investment).
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. Our comparison rate assumes a loan of $150,000 for 25 years. The comparison rate is based on a 12 months interest only period, reverting to the interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. After completion of construction, your interest rate will revert to the current interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 5% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest Standard Variable Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment). Interest only available for 1 to 5 years and are subject to approval.
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest home loan for the relevant variable home loan product, and for the relevant purpose (ie. owner-occupied or investment) with a deposit or equity of 20% or more. Interest only available for 1 to 5 years and are subject to approval.
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. Our comparison rate assumes a loan of $150,000 for 25 years. For interest only loans, the comparison rate is based on a 5-year interest only period, reverting to the interest rate applicable to a principal and interest loan with a deposit or equity of 20% or more for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 20% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest No Frills Home Loan for the relevant purpose (ie. owner-occupied or investment) with a deposit or equity of 20% or more. Interest only terms available for 1 to 5 years and are subject to approval.
