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Regional First Home Buyer Guarantee
in Queensland

What to know about the
Regional First Home Buyer
Guarantee scheme in
Queensland

First home buyers Gold Coast, listen up! Are you looking to buy a house in a regional area? The Australian Government has launched the Regional First Home Buyer Guarantee (RFHBG) scheme to help ease the path to homeownership for eligible customers.

With just a 5% deposit and one year of prior residency in an eligible region in Queensland, you could be well on your way to owning your dream home!

This generous scheme can be used to purchase or build an existing house, giving you more options and flexibility when it comes to finding the perfect house for you. Whether you’re building from scratch or purchasing an existing property that’s ready for you to move in, this scheme has something for everyone.

And with its generous benefits and eligibility requirements, the Regional First Home Buyer Guarantee is sure to make life easier for aspiring first time buyers looking to get their foot on the property ladder.

Get the Right Loan For Your Dream Home!

The Regional Home Guarantee Scheme is another one of the government’s many programs designed to help first time home buyers buy their first house sooner.

With this program, a portion of your home loan from a participating lender can be guaranteed by the National Housing Finance and Investment Corporation (NHFIC). This means you can buy your dream home with just a 5% deposit and without having to pay for Lenders Mortgage Insurance.

And the best part? The Regional Home Guarantee Scheme can go up to 15% of your property’s value (as evaluated by the participating lender). But don’t get too excited, this guarantee is not a cash payment or a deposit for your home loan. Still, it’s a great help for firs time home buyers like you!

Use the Property Price Cap Tool to check price caps for each location.

$700,000 price cap in regional centers in Queensland

$550,000 price cap in other regional areas in Queensland

What does the guarantee cover?

RFHBG allows for the purchase of:
Guarantee of home loan:
Guarantee does not:

What is the required deposit?

Who can participate?

What is a regional area?

Contact a Participating Lender or a finance broker Gold Coast for more information on eligible regional areas.

Who are the participating lenders?

NHFIC has authorised a panel of 32 Participating Lenders to offer the HGS to home buyers.

Major bank lenders are Commonwealth Bank and National Australia Bank (NAB).

What is a regional area?

The Regional First Home Buyer Guarantee (RFHBG) started on October 1, 2022. You can only apply to a Participating Lender for your home loan to be covered by the RFHBG on or after that date

From October 1, 2022, the RFHBG can guarantee up to 10,000 home loans per financial year until June 30, 2025.

How to be eligible for the Regional First Home Guarantee scheme

To be eligible for the regional home guarantee scheme, you must pass its eligibility checks

Some of the eligibility checks may differ for single applicants, joint applicants, or Australian Defence Force members. If you don’t meet any of these criteria, you may be eligible for the First Home Guarantee or the Family Home Guarantee.

Below are the requirements for the regional home guarantee scheme:
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Benefits of the Regional First Home Buyers scheme

No doubt the Regional First Home Buyer Guarantee (RFHBG) helps eligible first home buyers in obtaining home loans Gold Coast. It does so by providing a guarantee to Participating Lenders who made the loan to the home buyer.

This reduces the risk for the lender and increases the chances for the first home buyer to obtain a home loan, even with a smaller deposit.

Here are the key benefits:

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Access to home loans with a lower deposit requirement

Home buyers are only required to have a 5% deposit to contribute towards their property purchase, making it easier for them to get into the housing market.
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Increased borrowing capacity

The guarantee provided by the National Housing Finance and Investment Corporation (NHFIC) to Participating Lenders can increase the borrowing capacity of home buyers, making it easier for them to afford a home in a regional area.

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Increased eligibility for home loans

The RFHBG has less stringent eligibility criteria compared to other home loan schemes, making it easier for first home buyers in regional areas to access home loans.

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Support for home buyers in regional areas

The RFHBG is specifically designed to support first home buyers in regional areas, who may face challenges such as higher housing costs and reduced employment opportunities compared to those in metropolitan areas.
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Increased competition among Participating Lenders

The RFHBG can increase competition among Participating Lenders, potentially leading to better loan terms, lower interest rates, and more flexible loan options for first home buyers.

If you need further information on the mechanics of the RFHBG scheme, reach out to a first home buyer mortgage broker such as myself. I can assist you in not just understanding how the scheme works exactly — I can also show you various lending solutions to help fast track your journey to home ownership.

Benefits of the Regional First Home Buyers scheme

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Connect

Schedule an appointment with NAB either online, at a local branch, or with a broker and complete your home loan application.

regional home guarantee scheme - step 3

Submit

Receive conditional approval from your lender. They will then gather the necessary documents for eligibility and secure your place in the scheme.

regional home guarantee scheme - step 4

Purchase

Once approved, you will have a 90-day window to purchase your first home. Finally, complete the settlement process and move into your new home.

Buying first home? Here are some helpful resources

FAQs on the Regional First Home Buyer Guarantee

Yes. The Regional First Home Buyer Guarantee (RFHBG) does not limit your ability to access other government programs, such as the First Home Super Saver Scheme or First Home Owner Grant. However, these programs have their own eligibility criteria and conditions. Being eligible for the RFHBG does not guarantee eligibility for other programs. It is recommended that you research the terms of these programs and consult with your lender.

Yes. If you have an active home loan under the RFHBG, it’s possible to refinance it with another participating lender and maintain the RFHBG benefit. However, there are certain conditions that must be met, and it’s advisable to reach out to your current lender for more information. Keep in mind that if you choose to refinance with a lender that is not participating in the RFHBG, the guarantee will no longer apply to your home loan.

The scheme applies to designated regional areas across Australia. You can find out which areas are included by referring to your state’s website or speaking with your local council office.

Eligible homes can either be existing or new builds and must be located in a designated regional area in order to qualify for the scheme.

There is no set income limit for eligibility of the scheme. However, applicants should note that their income will be taken into consideration when assessing their application and lenders may require proof of sufficient income to service their loan repayments before approving them for a loan.

No, you cannot use this scheme to purchase an investment property. The scheme has been designed specifically for first home buyers and offers incentives such as low deposits and discounted interest rates in order to make it easier for them to get onto the property ladder.

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Shop around for Gold Coast Home Loans with Professional Lending Solutions

At Professional Lending Solutions, we understand just how important it is for a first-time buyer to have access to this guarantee. That’s why we strive to ensure that our clients get the best possible outcome when using this scheme.

Our professional and friendly staff will be more than happy to answer any questions you might have about the Regional First Home Buyer Guarantee. Don’t hesitate to get in touch with me and my team today.

Testimonials for Our Professional Lending Solutions Brokers for First Home Buyers Gold Coast

Katie WattsKatie Watts
10:41 01 Apr 24
A heartfelt thank you!! Goes out to Phil and the entire team atProfessional Lending Solutions. Their unwavering support and guidance have been crucial in ensuring the success of my property journey. I am truly grateful for everything they have done and could not have accomplished this without their expertise and assistance.
Malin BurnandMalin Burnand
05:29 07 Mar 24
Phil and Professional Lending Solutions helped us sort out a home loan on very short notice, and it was smooth and hassle free. We were very impressed with Phil's friendly and professional interactions. Thank you so much!
Austin CampionAustin Campion
09:45 06 Mar 24
Phil, Jenny and team worked tirelessly to get our transaction over the line. Given the tight timeframes, and more complicated refinance and purchase there were numerous credit conversations. We were fortunate to have their advice, industry expertise and ability to deliver under changing circumstances. Ultimately, Charlotte and I were able to settle on time and seamlessly with Professional Lending Solutions help.
Nick BrailsfordNick Brailsford
01:38 06 Mar 24
Fantastic customer service again and again. We have been with Phil and his team at Professional Lending Solutions for 5+ years now. Phil helps our small business with a variety of essentials, ranging from cash flow to equipment loans to vehicle finance and of course the complimentary personalised business advice that’s invaluable, which helps us to make educated financial decisions.
Charles FraserCharles Fraser
06:05 05 Feb 24
Phil and the team at Professional Lending Solutions provide a great service, have a wealth of knowledge, and conduct their business in a very professional and timely manner. I would recommend them to anyone looking for finance.
Sara AllanSara Allan
03:51 13 Jan 24
We couldn't recommend Phil and his team enough! We've been working with Phil for about six months to get us to a position where we are able to purchase our own home, and are getting ready to move into our dream home as we speak.Phil's been straight up with us in regards to our options throughout the whole journey, and worked with his connections to get our application across the line amid investment property settlements, and the added complication of both of us owning our own businesses.We hope to never move again (!) but will be back to talk to Phil for our refinance options in the future 🙂
Rachel PounderRachel Pounder
23:25 08 Nov 23
Phil was amazing to work with, very knowledgeable and was a stress free process to refinance my loans. Would highly recommend his services.
Melissa SilkMelissa Silk
09:40 11 Oct 23
Phil was recommended to us and we could not be happier with the result we achieved having him by our side for the sale of our home and the purchase of our new home.Phil was incredibly prompt, honest and professional. He addressed every single query (and there were MULTIPLE) in such a timely manner. Phil helped map out the nitty gritty details from the get-go with honesty and his professional opinion so that when we decided to go ahead and buy in this current market, instead of waiting, we were able to achieve settlement in such a tight timeframe (21 days to be exact). We will DEFINITELY be approaching Phil in the future and are 110% more than HAPPY to recommend him to friends and family. Jenny, thank you for being the behind-the-scenes magician during our entire journey. We are very appreciative of your hard work (especially in the moments right before settlement).
Ben ShieldsBen Shields
22:32 20 Sep 23
I have been using Dean for all my financial requirements for a few years now, along with others in my family. He has become our family finance guy. He always finds the right deal, gives great advice and makes the journey easy. I recommend to anyone !
Anton HermantoAnton Hermanto
05:34 31 Aug 23
I was recommended the service of Phil through my Real estate agent.,if you need assistance with your home lending please go and see Phil, exceptional service and with his corporate Banking background he understood our finance need and was able to recommended the right product for us.Thank you Phil & team
Andrew ThorntonAndrew Thornton
01:20 28 Aug 23
Phil was brilliant. The turnaround for our re-mortgage was very quick, and Phil made the process seamless. Would recommend 10/10.
Keeley-Anne loweKeeley-Anne lowe
05:37 18 Aug 23
Phil & his team are amazingThey supported us through buying our first home in Australia, they were always on hand to answer our many questions either via email, phone or in person.Super professional but also down to earth and friendly- would 100% recommend
Jason in Byron BayJason in Byron Bay
08:30 17 Aug 23
Great team and very easy to work with with....Highly recommended
Dino BaroneDino Barone
07:38 17 Aug 23
I cannot express how grateful I am for the exceptional service I received from Phil during my journey to buy my first home. From the very beginning, his dedication to guiding me through the complex process of obtaining a mortgage was truly remarkable.Phil demonstrated a level of honesty and transparency that I never expected from a mortgage broker. He patiently walked me through all the available options, explaining every detail in a way that made sense. His expertise gave me confidence in the decisions I was making.What truly set Phil apart was his commitment to my best interests. He went above and beyond to find a loan that was tailored to my financial situation, ensuring that I wasn't taking on more than I could handle. His advice was always genuine and well-informed, and I never felt pressured into making any decisions.Throughout the entire process, Phil was incredibly responsive. He promptly answered all my questions, no matter how big or small. It was evident that he genuinely cared about my experience and wanted to see me succeed in securing the best mortgage for my new home.I cannot recommend Phil highly enough.
Eliza SmithEliza Smith
20:40 14 Aug 23
Phil and the team at Professional Lending Solutions worked with us efficiently to help us secure our family home. The team kept us informed and helped us every step of the way. Our experience with Professional Lending Solutions was fantastic and I would highly recommend!
Roland PetersonRoland Peterson
22:59 03 Aug 23
This business does a very professional job and made the whole process of our financial application smooth and easy. Phil also was very responsible and respectful and i felt we could trust him and his process as well. Highly recommend this broker!
Nick TurnerNick Turner
06:52 02 Aug 23
As a first home buyer the whole process was a bit daunting. Phil and the team were in real and simplified the lot. They really went to battle with the banks for me (being self employed) and got me the best possible outcome. Can’t recommend them high enough !
Harley BericHarley Beric
07:12 21 Jul 23
Phil and his team went above and beyond with the service they provided.I have been a long term client of PLS as I could not find a house that met my budget.Phil was very understanding as he listened to all my questions I had to ask. He provided me honest feedback which made me feel safe and comfortable that I made the right choice in choosing him.Because it was my first time buying, PLS answered every question I had without frustration or judgement as they had to explain things to me once, twice and something a third.It was a very stressful life decision that should not be taken lightly and with Phil and his team behind you, you will never be made to feel as if you made the wrong choice with choosing them as a Broker.Many thanks once again.
Sinead BroadmoreSinead Broadmore
09:01 08 Jul 23
We couldn't recommend Phil and his team enough. They were amazing and so helpful through the whole process. Having only moved to the country 6 months prior it was a stressful situation for us but they made it so easy and stress free. Will definitely use them in the future if need be!!
Nathan ThomasNathan Thomas
03:20 20 Jun 23
Phil and the team from Professional Lending Solutions were very easy to work with and as with the name states were very professional!For clarity I’ve known Phil for many years and I’ve seen how he was able to help others get into their first homes and even second homes. It was now our time for the team to help us.We had many questions and were able to get all the answers we needed to make the right decisions.If your looking for a professional team that takes the time to explain all the processes, keeps you informed and gets things done then take the time to give them a call to see how they can help make your dreams a reality!
Donna hughesDonna hughes
05:53 22 May 23
We went to see Phil to refinance our home loan and consolidate our loans. Phil was full of information and very professional. We couldn't believe how quick Phil had got everything done for us. So thankyou very much Phil we would definitely be referring family and friends.
Phil, Jenny and the team at Professional Lending Solutions were more than what we could of hoped for. Very informative and were there through every step of the process. We couldn't done it all without them. I cannot recommend them highly enough. Every single one of the team is friendly and totally professional and helped put us at ease through every step.Thank you!
Marie HibbertMarie Hibbert
01:05 21 Mar 23
We were reccomended Phil and his team from word of mouth (people I work with). As first time buyers we had many questions and alot of learning to do. Phil and his team were always a email or phone call away and were happy to answer all the questions we had. The process was easy from our very first face-to-face meeting and we felt confident in putting our trust in this team. Thank-you so much for starting us on a property journey. We would highly recommend their business! Pete and Marie
Kyle RobinsonKyle Robinson
03:20 14 Mar 23
Phil & his team were absolutely amazing through the whole process of buying our home. They were happy to answer any and all of our questions no matter how silly they were and guided us through the whole process. They made buying our home stress free and let us enjoy all the excitement without having to be concerned about all the small details.If you are looking to buy a house or even just considering it you should definitely give Phil and his team a call. They will get you right on the path to your home.
BrentBrent
00:27 14 Mar 23
Phil got our first home loan 8yrs ago when we thought we couldn't and since then we've refinanced several times to ensure best rates as well as a business car loan. Always a personal approach, highly recommended.
Michelle KMichelle K
03:14 08 Mar 23
The best brokers in the business.Phil and the team at PLS went above and beyond to help us refinance our mortgage and find the best solution for our circumstances.Phil is professional and fantastic to deal with.Highly recommended!
jake smithjake smith
08:30 19 Jan 23
Very happy we went with Phil and his team, being our first home we didn’t know what to do or understand a lot about buying a property we just knew we wanted one and Phil and his team walked us through every step and made it easy! Would 200% recommend
Sarah CameronSarah Cameron
00:13 11 Jan 23
Mel, Phil and the team at Professional Lending Solutions were simply amazing. Nothing was too much of a hassle. They made the whole experience extremely easy, stress free and had it approved within 3 days. We couldn't be happier with the service and would highly recommend their business! Will be using again!
Kirsty ScottKirsty Scott
07:53 15 Nov 22
Phil was incredibly helpful, patient and honest throughout the entire process of re-financing. I appreciated his thorough and detailed answers to my questions, as well as his amiable nature. He was open and spoke with great candour, ensuring the entire process was simple, stress free and, straightforward. All in all a top bloke and skilled broker who I would certainly recommend. Thanks again!
Lisa VinczeLisa Vincze
10:00 29 Aug 22
You should use Phil and the team at Professional Lending Solutions! We have used them a couple of times and they make it so much easier to manage the mortgage process - and know you’re getting the best personalised deal. Phil is so lovely and very responsive. Will be using them again.
Jordan SummersJordan Summers
00:29 29 Aug 22
We recently went through the often stressful process of selling our home and purchasing another. Phil and his team came up with the best tailored finance solution for our situation and were always on hand to provide guidance around the process from start to finish.I couldn’t recommend Professional Lending Solutions any higher, they were simply superb to deal with!!!!
Jennifer McLeodJennifer McLeod
00:20 29 Aug 22
Many thanks to Phil and the wonderful Professional Lending Solutions team! Having Phil in our corner for our financial needs has played a key role in securing the appropriate home loans for us. Highly recommend!
Renee AgnewRenee Agnew
02:57 04 Aug 22
Phil Verheijen has been fantastic in providing advice on all matters of the lending system for purchasing my first property. I can highly recommend Phil as he is genuine and professional. Also his friendly team were extremely helpful.
Diana SaragozzaDiana Saragozza
04:19 27 Jun 22
Professional Lending Solutions were absolutely amazing. After several bad experiences with other brokers in the past. These guys were straight to the point, very professional, excellent customer service and got our loan approved so quickly. They provided support and advice before and after the purchase of our home.Highly recommended.
Michael FryerMichael Fryer
06:47 27 May 22
Dealing with Phil and the team at Professional Lending Solutions was amazing.Absolutely incredible communication and professional support and advice throughout.Phil was happy to answer all our questions and explained the process to us with great detail.If you ever need a good broker please do yourself a favour and see Phil. You will not be disappointed. Thanks again Phil and the team at Professional Lending Solutions. Keep up the great work.
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