Buy your family home with a 2% deposit

You've done the maths at 11pm. Rent, school shoes, car rego, and a deposit figure that never gets closer. On a $650,000 home, a 20% deposit is $130,000. Under the single parent stream of the Australian Government 5% Deposit Scheme, the minimum is $13,000, with no Lenders Mortgage Insurance.

I'm Gwen, a mortgage broker with over 14 years in banking and finance, and a single mum. I help single parents across Logan, Beenleigh, Scenic Rim and the Gold Coast buy the home their kids grow up in.

How the 2% single parent scheme works

Minimum deposit of 2%. The government guarantees up to 18% of the property value, so you avoid LMI.
No income cap and no waitlist since 1 October 2025.
You don't need to be a first home buyer, but you can't own any other property once your new home settles.
Queensland price caps are $1,000,000 for Brisbane, the Gold Coast and the Sunshine Coast, and $700,000 for the rest of the state. The cap depends on the exact suburb, so I check yours before you start looking.
You apply on your own, you live in the home, and the loan goes through a participating lender.

The detail most people miss

"Single" means no spouse or de facto partner. If you're separated but not yet divorced, the scheme doesn't treat you as single. If you're mid-separation, talk to me before you sign anything, because the timing changes your options.

What lenders count as your income

Child support. Family Tax Benefit. Part-time hours. A second job. Some lenders count all of it, some shave it, and some ignore it completely. On one income, that one policy difference can decide a yes or a no, which is why one bank's answer is never the final answer.

Stack it with Queensland help

Eligible first home buyers in Queensland pay no stamp duty on a new home, and no stamp duty on an established home up to $700,000, with a partial concession up to $800,000.
The $30,000 First Home Owner Grant still applies to eligible new homes valued under $750,000.
Help to Buy and Boost to Buy are shared equity options worth comparing if your borrowing power is tight.

Not every scheme combines with every other one, and each has its own rules. I map the ones you qualify for in our first chat.

A broker who has been the only name on the form

I'll tell you what you can borrow, what it costs each month, and whether that still leaves room for swimming lessons. Then you decide.

General information only, current as at October 2026. It does not consider your personal circumstances. Scheme eligibility, location price caps and lender credit criteria apply and can change. Official details: firsthomebuyers.gov.au and qro.qld.gov.au.

Your path from renting to your own front door.

Every step is built around one income and real family life. Here's how we'll get you there:

Let's talk today

1

Let's Chat (No Judgement)

Tell me about your income, your kids, your separation status and where you want to live. In 15 minutes I'll tell you honestly whether the 2% scheme fits.

2

Confirm You Qualify

I check you meet the single parent criteria and match your target suburbs to the right price cap, before you spend a single weekend at open homes.

3

Find the Lender That Counts Your Income

I compare lenders on how they treat child support, Family Tax Benefit and part-time income, as well as rate. That's where single parent borrowing power is won or lost.

4

Pre-Approval and Your Real Budget

You'll know your borrowing limit and your monthly repayment before you fall for a house. Pre-approval is usually valid for around three months.

5

Offer Accepted

I manage the application, the government guarantee and the paperwork through to unconditional approval, and keep you updated so you're never left guessing.

6

Keys in Your Hand

Settlement day. Your name on the title, your kids picking bedrooms. I stay on as your broker for the life of the loan.

Explore your loan options & their features.

There are a number of loan types available to you: variable rates, fixed rates, guarantor loans and more. Scroll through the options below to see the differences. I'm here to answer your questions when you're ready.

Variable rate loan

As the name suggests, the interest rate can change over the life of the loan. This gives you flexibility, but can also leave you open to rate rises. These loans offer more flexible features like unlimited additional repayments, redraw, and offset accounts.

Fixed rate loan

Basically, this is the opposite of a variable rate loan. Your interest rate and repayments will stay the same during the fixed term, no matter what. So no surprises.

Split Loan

You’re able to fix part of your loan, while leaving the rest variable.

Packaged Loan

Professional packages offer discounts on standard variable and fixed rates, the waiving of fees, and in some cases, great deals on other products from the same lender. A packaged loan usually comes with one annual fee for the bundled products.

Introductory Rate Loan

Also known as ‘honeymoon’ loans, these offer a low interest rate for a short period (eg. a year), after which the rate moves to the standard variable rate.

Interest Only Loans

As the name suggests, you only pay the interest on the principal balance for a set term, with the principal balance unchanged.

Guarantor Home Loans

A guarantor uses the equity they’ve built up in an existing property to help you purchase your property sooner. Guarantors could be your parents, parent-in-law or a step parent or grandparents.

Helpful calculators.

Explore your financial possibilities and understand potential costs with these handy calculators.

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Frequently asked questions.

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Talk to us today about your options.

Talk to us today about your options. Whether you're in Beenleigh, Logan, Scenic Rim, or on the Gold Coast, Gwen @ Ferns Finance is ready to provide expert, straightforward advice.

Contact us