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Queensland state housing loan

Information for Queensland public housing tenants only.

This loan is to help you buy the government-owned property you are renting. You must be a tenant and intend to continue living in the home. Not all Queensland Government properties are for sale.

Am I eligible?

To be eligible for the loan you must:

  • be an existing housing tenant
  • be an Australian citizen or permanent resident of Australia
  • not own or part-own another property
  • have a good credit history
  • have no other significant debts
  • have enough savings to cover the 5% deposit and loan fees (legal fees, stamp duty, insurance fees etc)
  • be able to afford the loan repayments without hardship
  • earn under the current household limit of $141,000 per annum.

Applying for the loan

Contact our loan hotline to apply or receive more information;

  • Email: loaninformation@communities.qld.gov.au
  • Phone: 1300 654 322 Monday to Friday, 8.30am to 5.00pm or 07 3224 7202 if calling from outside Queensland
    • Post:
    Loans and Debt Management
    Department of Housing and Public Works     Post
    GPO Box 690
    BRISBANE QLD 4001

How does the loan work?

The loan is for owner-occupiers. As long as you stay living in the home you are entitled to a discount on your interest rate and safeguards against steep interest rate rises through a capped interest rate in the early years of the loan.

The minimum deposit for the loan is 5% of the purchase price. You may be eligible for a non-repayable deposit assistance grant for up to half of this amount. If this is your first home purchase you may also qualify for the First Home Owners Grant which can be used towards the deposit.

How much will it cost me?

Apart from the deposit there are other costs involved in buying a home. These include legal fees, stamp duty, rates adjustment and mortgage registration fees.  Your solicitor can give you an estimate of these costs.

There are additional costs that you will not pay when renting.  These include:

  • home insurance
  • local government rates
  • water charges
  • repairs and maintenance

You must insure your home for the full term of the loan. Your maximum repayments will be no more than 35% of your agreed continued income.

Licence
Creative Commons Attribution 3.0 Australia (CC BY 3.0)
Last updated:
19 March 2013

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