The First Home Loan Deposit Scheme (FHLDS) is a government initiative that helps eligible first-time home buyers purchase a home with a deposit as low as 5%, without paying Lenders Mortgage Insurance (LMI).

For Logan, Queensland buyers, this scheme can make a real difference, allowing you to get into the market sooner and save thousands on insurance costs.

If you've been struggling to save a 20% deposit, this could be your ideal path to homeownership in Logan.

Let’s walk through everything you need to know so you can take that next step with confidence.

Who Is Eligible for the First Home Loan Deposit Scheme?

To qualify for the scheme in Logan (or anywhere in Australia), you need to meet several criteria:

• Be an Australian citizen
  
  
• Be at least 18 years old
  
  
• Have never owned property in Australia before
  
  
• Have a taxable income of up to $125,000 (single) or $200,000 (couple)
  
  
• Be intending to live in the home, not rent it out
  
  
• Apply as an individual or couple (married or de facto)

Importantly, only a limited number of places are available each financial year, so acting early is key.

How the Scheme Works in Logan, Queensland

Logan is an ideal location for first-home buyers. The property price cap for the scheme in Queensland (regional centres, including Logan) is:

• $550,000 for new or existing homes

That means if you're buying a home under this amount in Logan, you could be eligible.

If approved, the scheme allows you to buy a property with just a 5% deposit. The government guarantees the remaining 15%, so you won’t need to pay LMI, which can often add tens of thousands to your loan.

Types of Properties You Can Buy in Logan Under FHLDS

Eligible properties in Logan include:

• Newly constructed homes
  
  
• Established (existing) homes
  
  
• House and land packages
  
  
• Off-the-plan apartments or townhouses

The key requirement is that the property price must not exceed the cap set for Logan. Your mortgage broker can help you confirm this.

What Are the Benefits for Logan Buyers?

Using the First Home Loan Deposit Scheme in Logan comes with some great advantages:

• Lower deposit required (as low as 5%)
  
  
• No Lenders Mortgage Insurance (LMI)
  
  
• Faster entry into the market
  
  
• You can combine with other grants (like the First Home Owner Grant QLD)
  
  
• Greater access to Logan’s affordable property market

Logan is one of the most affordable growth corridors near Brisbane, making it ideal for first-time buyers.

Can You Combine the Scheme With Other Grants?

Yes! And this is where things get exciting.

In Queensland, you may be able to combine the FHLDS with:

• First Home Owner Grant (FHOG) – $30,000 for eligible new builds
  
  
• Stamp duty concessions – full or partial exemptions
  
  
• First Home Super Saver Scheme (FHSSS) – use your super savings to boost your deposit

Combining these could mean less money upfront and more flexibility in choosing the right home in Logan.

What Are the Limitations of the Scheme?

While the scheme is incredibly helpful, there are a few things to keep in mind:

• Limited number of spots available each financial year
  
  
• Strict eligibility and income criteria
  
  
• Property price caps apply
  
  
• You can’t use it for investment properties
  
  
• Must live in the property for at least 6 months within the first year

That’s why working with an experienced Logan mortgage broker is so important. They’ll make sure you're ticking every box.

Why Logan Is Perfect for First-Time Buyers

Located just south of Brisbane, Logan offers a unique blend of affordability and convenience, making it an attractive option for first-home buyers. The area boasts competitive house prices, along with strong infrastructure and reliable public transport, making daily commuting easier. 

Families will appreciate the abundance of parks, quality schools, and convenient shopping centres, all within reach. Logan is also experiencing a wave of new residential developments, providing plenty of modern housing options for buyers entering the market. 

On top of all that, property values in Logan are expected to grow steadily, making it not just a great place to live, but also a smart long-term investment.

Step-by-Step: How to Apply for the FHLDS in Logan

Here’s a simple roadmap for getting started:

1. Check your eligibility (income, property type, citizenship)
   
   
2. Contact a Logan mortgage broker like Cube Loans
   
   
3. Get pre-approval for your home loan
   
   
4. Choose an eligible property in Logan
   
   
5. Submit your FHLDS application via a participating lender
   
   
6. Finalise the home loan and settlement process

It’s best to start early. FHLDS spots are limited each year.

How Cube Loans Can Help First Home Buyers in Logan

Navigating the world of home loans can feel overwhelming, especially when government schemes are involved. That's where Cube Loans steps in.

As experienced mortgage brokers based in Logan, Cube Loans offers:

• Personalised loan advice
  
  
• Access to multiple lenders
  
  
• Knowledge of government schemes like FHLDS
  
  
• Help with applications and documentation
  
  
• Ongoing support even after approval

Whether you're buying a townhouse in Beenleigh or a new build in Springwood, we’ve got your back.

FAQs

What is the First Home Loan Deposit Scheme in Australia?

It’s a government initiative helping eligible first home buyers purchase with as little as 5% deposit, without paying LMI.

Can I use the FHLDS in Logan, Queensland?

Yes. Logan qualifies under the scheme’s regional price cap of $550,000.

How much deposit do I need under the scheme?

Only 5% of the purchase price, provided you meet the eligibility criteria.

What’s the income limit to be eligible?

Singles can earn up to $125,000 and couples up to $200,000 annually.

Can I use the scheme with other grants?

Absolutely. You can combine it with the First Home Owner Grant and stamp duty concessions.

Is the scheme only for new homes?

No. You can buy new or existing homes, including off-the-plan options and house-and-land packages.

Do I need to live in the property?

Yes. You must move in within 6 months and live there for at least 6 months continuously.

Wrapping It All Up



If you’re looking to buy your first home in Logan, Queensland, the First Home Loan Deposit Scheme could be your key to getting in sooner, with less financial strain. With property prices in Logan still within reach and the added bonus of LMI savings, now is the perfect time to take action.

Let Cube Loans help guide you every step of the way. We’re experienced Logan mortgage brokers who understand the local market and government schemes. Whether you're just starting or ready to apply, we’re here to make it simple.

Visit www.cubeloans.com.au or call us on 1800 774 756 to speak to one of our friendly experts today.