In 2026, Logan, QLD first home buyers have a genuine advantage with the First Home Guarantee — a government scheme that lets you buy with just 5% deposit and no lenders mortgage insurance. Whether you're looking at your first home in Woodridge - Kingston or Loganholme , this scheme removes the biggest barrier for many first home buyers: the traditional 20% deposit requirement.

The scheme has no income caps as of October 2025, and Logan, QLD sits well within the $1,000,000 price cap. That means genuine access to suburbs like Springwood ($980,000 median), Browns Plains ($868,000), and Beenleigh ($746,000) as of April 2026.

Cube Loans helps first home buyers across Logan, QLD access the First Home Guarantee through approved lenders — completely free of charge.

Here's what you need to know about using the First Home Guarantee to buy your first home in Logan, QLD.

How does the First Home Guarantee work?

The First Home Guarantee lets eligible buyers purchase with a 5% deposit by having the government guarantee up to 15% of the loan, eliminating the need for lenders mortgage insurance. You still need to qualify for the home loan itself, but the deposit barrier drops from 20% to just 5%, and you avoid LMI costs that could otherwise reach $20,000 to $40,000.

For a $750,000 home in Logan, QLD, you'd need $37,500 as a deposit rather than $150,000, and you'd save approximately $21,000 in LMI premiums. The exact structure depends on your income, employment, and which approved lender you use, which is what we work through with you in a free consultation.

First Home Guarantee benefits in Logan, QLD

• 5% minimum deposit : government guarantees up to 15% of the loan value, making 95% LVR loans possible without LMI.
• No income caps: removed in October 2025, meaning all income levels can apply if they meet standard lending criteria.
• $1,000,000 price cap: all Logan, QLD suburbs sit comfortably within this limit, giving genuine choice.
• Established and new homes: both property types are eligible under the First Home Guarantee.
• Couples and singles: both relationship statuses can apply, with combined income assessment for couples.

• Cube Loans Like to know if you qualify for the First Home Guarantee? Eligibility depends on your residential history, current property ownership, and lender approval. A free chat with a Logan mortgage broker gives you a clear picture — no commitment, no pressure. Free 15-min chat 60+ lenders No obligation Book a free chat today →

How do you qualify for the First Home Guarantee in Logan, QLD?

Step 1: Talk to us

Get in touch and we'll assess your eligibility for the First Home Guarantee and identify which approved lenders suit your income and deposit situation.

Step 2: Confirm your first home buyer status

You must never have owned property in Australia before — this includes investment properties, vacant land, or homes you've sold. Your partner must also meet this requirement.

Step 3: Meet standard lending criteria

You still need to qualify for the home loan itself. We assess your income, employment stability, and expenses to determine your borrowing capacity across our approved lender panel.

Step 4: Choose your property within the price cap

Properties must be under $1,000,000 in Logan, QLD. Both established homes and new builds are eligible, giving you full choice across all Logan suburbs.

Step 5: Apply through an approved lender

Not all lenders participate in the First Home Guarantee scheme. We identify which of our 60+ lenders are approved and which one gives you the strongest rate and features.

Step 6: Complete your purchase

Once approved, you proceed to settlement with 5% deposit. The government guarantee operates in the background — you deal directly with your lender as normal.

What mistakes do Logan, QLD first home buyers make with the scheme?

The biggest mistake is assuming any lender can process a First Home Guarantee application. Only approved lenders participate in the scheme, and their rates, features, and processing times vary significantly. Going direct to your own bank first might mean missing better options or longer approval times.

The second common error is underestimating other upfront costs. While you save the deposit difference and avoid LMI, you still need money for stamp duty (unless you qualify for the Queensland first home buyer exemption), building and pest inspections, conveyancing, and moving costs. Budget for approximately $15,000 to $25,000 in additional costs beyond your 5% deposit.

How does the First Home Guarantee compare to other Logan, QLD schemes?

Logan, QLD first home buyers can potentially access multiple benefits simultaneously. The Queensland First Home Owner Grant provides $30,000 for new homes under $750,000 (reducing to $15,000 from July 2026), and new home buyers pay $0 stamp duty regardless of price. The First Home Guarantee can work alongside these benefits, meaning a 5% deposit, no LMI, plus the grant and stamp duty savings.

• First Home Guarantee vs 20% deposit: access to homeownership 2-3 years sooner for most savers, plus immediate LMI cost avoidance.
• First Home Guarantee vs Family Home Guarantee: Family Home Guarantee allows 2% deposit for single parents but requires genuine single status — the First Home Guarantee is available to couples and singles alike.
• First Home Guarantee vs Queensland Boost to Buy: Boost to Buy offers shared equity but has limited places and income caps — the First Home Guarantee has unlimited places and no income restrictions.

• Cube Loans Ready to find out which Logan suburb and loan gives you the strongest start? We compare loans from 60+ lenders across Logan, QLD. Free service, no cost to you. Free 15-min chat 60+ lenders No obligation Book a free chat today →

Frequently Asked Questions

Do I qualify for the First Home Guarantee if I've never owned property in Australia?

Yes - never having owned property in Australia is the key requirement for first home buyer status. This includes investment properties, vacant land, or homes you've previously owned and sold.

Can couples apply for the First Home Guarantee in Logan, QLD?

Yes, couples can apply together. Both partners must meet the first home buyer requirement - neither can have owned property in Australia before.

Is there a time limit on how long I have to use the First Home Guarantee?

No, the scheme is ongoing with no expiry date. However, you can only use it once - for your first home purchase.

What happens if I want to sell my First Home Guarantee property later?

You can sell normally with no restrictions. The government guarantee only applies during the loan period - once you sell, it's removed from that property.

Do all Logan, QLD suburbs qualify for the First Home Guarantee price cap?

Yes - the $1,000,000 price cap covers all Logan suburbs comfortably. Even premium suburbs like Cornubia ($1,166,000 median) are accessible with the right property choice.

Should I use a mortgage broker or go direct to my bank for the First Home Guarantee?

A mortgage broker, every time. Not all lenders participate in the scheme, and those that do offer different rates and processing times. We identify the approved lender that gives you the strongest overall package.

Can I use the First Home Guarantee for an investment property?

No - the First Home Guarantee is for owner-occupier purchases only. You must live in the property as your primary residence.

Your Next Steps

Getting your First Home Guarantee application right means more than just meeting the basic requirements. The difference between approved lenders can affect your interest rate, ongoing fees, and how quickly you get to settlement - all factors that make a meaningful difference when you're buying your first home in Logan, QLD.

Ready to find out which Logan suburb and lender combination works best for your situation? Contact Scott Beattie or Nevada Matthews for a free consultation or call 1800 774 756. We'll assess your First Home Guarantee eligibility across our 60+ lender panel and identify the best options for your deposit, income, and goals.

Cube Loans · Loganholme and Logan, QLD · General information only — this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.