Home Loans for Apartments and Units in Logan, QLD, The Simple Guide
Unit and apartment buyers in Logan, QLD have more entry points into the property market than most people realise. A Logan Central unit sits at a CoreLogic median of $441,000, Woodridge units sit at $520,000, and Beenleigh units at $508,108 — all within reach of first home buyer schemes and well below the region's house medians. The lower price points mean smaller deposits, lower stamp duty, and in many cases more suburbs within reach of the $1,000,000 scheme price cap.
The catch is that unit financing works differently to house lending in several important ways. Most lenders apply stricter criteria to strata-titled properties, and which lender you approach can determine whether you get approved at all — not just what rate you pay.
Our team helps unit buyers across Logan, QLD work through the specific lender requirements that apply to apartment and strata purchases, and the first home buyer side of it is where most of the difference is made, completely free of charge.
Here's what you need to know before approaching a lender about unit financing in Logan.
Key takeaways
- Most lenders cap unit lending at 90% LVR, requiring a 10% deposit without a scheme.
- Queensland's $30,000 FHOG applies to new units under $750,000 with no published end date.
- Building type, age and strata density all affect which lenders will approve your loan.
How do lenders assess apartment and unit purchases differently?
Unit lending carries stricter criteria than house lending because lenders treat strata-titled properties as higher risk. Most lenders cap unit lending at 90% LVR compared to 95% for houses, which means a 10% deposit minimum rather than 5%. The Australian Government 5% Deposit Scheme can bridge that gap for eligible first home buyers, but without a scheme the deposit hurdle is higher for units than houses at the same price.
Strata management quality, building age, and unit density all factor into approval decisions. Some lenders will not finance units in buildings above a certain number of storeys or in certain construction types. Your exact options depend on the specific building and which lenders you approach, which is exactly what we work through with you in a free consultation.
If you are comparing a unit purchase against a house at a similar price, the deposit requirement is often the deciding factor. A scheme removes it; without one, that 10% floor is a genuine constraint worth planning around early.
Not sure what you can borrow as a unit buyer?
What government schemes help unit buyers in Logan, QLD?
All major government schemes apply to unit purchases, which is one of the strongest arguments for buying a unit as a first home buyer. The price points across Logan mean most units sit comfortably under the relevant caps.
Eligible schemes for unit purchases in Logan:
- › Australian Government 5% Deposit Scheme: buy with a 5% deposit, no LMI, up to the $1,000,000 Logan price cap. Applies to eligible units and apartments.
- › Family Home Guarantee: single parents can buy with a 2% deposit, no LMI, up to the $1,000,000 Logan price cap. First home buyer status is not required.
- › Queensland First Home Owner Grant:$30,000 for eligible new unit purchases under $750,000, with no published end date for contracts entered into from 20 November 2023. From 1 August 2026, transfer duty concessions are limited to Australian citizens and permanent residents.
The Boost to Buy shared equity scheme contributes up to 30% on new units and 25% on established units, with a $1,000,000 price cap, but places are very limited and Unity Bank is currently the only approved lender. It is worth knowing about, but the 5% Deposit Scheme is more reliably available for most unit buyers.
"We see a lot of unit buyers assume the 5% Deposit Scheme works the same way for every building. It doesn't — the building itself needs to pass the lender's assessment, not just the price. Once buyers understand that, they approach the search differently and end up in a much better position."
Nevada Matthews · Mortgage Broker and Co-Owner, Cube Loans · Chat to Nevada →
How do mortgage brokers help apartment buyers get approved in Logan, QLD?
Unit lending is where lender selection matters most. Two lenders can look at the same building and give completely different answers — one approves it at 90% LVR and the other won't touch it at all. A broker who knows which lenders write unit loans in your target area and price range can save weeks of rejected applications.
Step 1: Talk to us
We start by assessing your deposit, income, and the specific type of unit or apartment you are targeting across Logan, QLD to work out which lenders are worth approaching.
Step 2: Assess the building and your position
We identify which lenders approve the building type, age, and strata management quality you are looking at, and confirm how your deposit and income position fits their criteria.
Step 3: Structure and submit your application
We structure your application to take advantage of available schemes and approach lenders who actively write unit loans in your target area, avoiding those with restrictive unit policies.
Step 4: Manage through to settlement
We coordinate with your solicitor, building inspector, and strata management to make sure documentation and building condition meet lender requirements through to a clean settlement.
What mistakes do unit buyers in Logan, QLD make?
The single most costly assumption unit buyers make is that any lender will finance any unit. Building-level restrictions — on construction type, storey count, strata density, or building age — mean the property itself can be declined even when the buyer's financials are strong.
Where unit buyers lose ground:
- › Going to one bank first: your own bank may have restrictive unit policies that other lenders do not. A declined application leaves a credit enquiry on your file and narrows your options.
- › Underestimating strata fees: lenders add body corporate fees to your monthly expenses when calculating borrowing capacity. High strata fees directly reduce how much you can borrow.
- › Assuming the scheme removes all hurdles: the 5% Deposit Scheme covers your deposit gap, but it does not override the lender's building assessment. The building still needs to pass independently.
"Where a buyer has a strong deposit and income but is targeting an older high-rise, I would usually spend time on the building before the financials. Getting the building confirmed as lendable first means the application is clean when it goes in, rather than stalling mid-process."
Nevada Matthews · Mortgage Broker and Co-Owner, Cube Loans · Chat to Nevada →
Which Logan suburbs offer the best unit opportunities?
Unit investors and first home buyers in Logan, QLD have several suburbs where the numbers stack up. CoreLogic data puts Logan Central units at a median of $441,000 with 12-month growth of +26.00%, making it the most accessible unit market in the region and one of the strongest performers. Slacks Creek units at $575,000 recorded growth of +22.34% over the same period, driven by motorway access and proximity to Brisbane.
For first home buyers in Woodridge, Eagleby and Logan Central, all three unit markets sit comfortably within the $1,000,000 scheme price cap and well within the $750,000 FHOG threshold for new units. Woodridge units at $520,000 and Beenleigh units at $508,108 are among the more affordable options in the region.
Source: CoreLogic
For investors, the combination of lower entry prices, strong rental demand, and the Beenleigh line running through Logan Central, Kingston, and Loganlea makes the unit market worth serious consideration. The key is matching the target suburb to lenders who actively finance units in that area, rather than approaching a lender and finding out mid-application that the building falls outside their policy.
An investment unit loan typically starts from approximately 5.90% p.a. on a competitive variable rate. Interest-only periods are available on most investment structures, and new units carry depreciation benefits that improve the after-tax position. The right investment loan structure depends on your income, existing debt position, and whether you are targeting cash flow or capital growth.
Want to know where you stand as a unit buyer?
Frequently Asked Questions
Can I get a home loan on a unit with a 5% deposit?
Yes, through the Australian Government 5% Deposit Scheme if you are a first home buyer, or the Family Home Guarantee at 2% if you are a single parent. Both apply to units up to $1,000,000 in Logan, QLD with no LMI payable.
Do lenders charge higher rates for unit loans?
Generally no — competitive variable rates from approximately 5.70% p.a. apply to both houses and units. Some lenders have stricter building criteria for units, which can limit your rate options depending on the specific property.
What's the difference between buying a unit and an apartment in Logan?
From a lending perspective they are treated the same, as both are strata-titled properties with body corporate fees. Lenders assess building age, construction type and strata management rather than the label on the title.
Are strata fees included in serviceability calculations for unit buyers?
Yes, lenders add body corporate fees to your monthly expenses when calculating borrowing capacity. Higher strata fees directly reduce how much you can borrow, so factor them into your budget early.
Can unit buyers in Logan use the Queensland $30,000 First Home Owner Grant?
Yes, for eligible new unit purchases under $750,000. The grant is currently $30,000 with no published end date for contracts signed from 20 November 2023, and applies to both houses and new apartments.
Should I use a mortgage broker or go direct to the bank for unit financing in Logan?
A mortgage broker, every time. Unit lending policies vary dramatically between lenders — some will not finance certain building types, storey counts, or construction styles that others readily approve across a 60+ lender panel.
Which Logan suburbs have the most affordable units for first home buyers?
Logan Central has the lowest unit median at $441,000, with 12-month growth of +26.00% according to CoreLogic. Beenleigh units at $508,108 and Woodridge units at $520,000 also sit well within the $1,000,000 scheme price cap.
Your Next Steps
Unit financing in Logan rewards buyers who get lender selection right from the start. The building assessment and the buyer's financial position need to line up with the right lender — and with building-level restrictions varying widely across the 60+ lender panel, that matching process is where a broker does most of the work.
The right lender for unit buyers depends on your situation and your target property, and that's a conversation worth having. Talk to the Cube Loans team or call 1800 774 756, and we'll compare your options across 60+ lenders at no cost to you.
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External Resources
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.
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