Queensland State Housing Loan

Eligibility for the Queensland State Housing Loan

To be eligible for a Queensland State Housing Loan, you must meet these requirements when applying:

You must be an Australian citizen or permanent resident living in Queensland.
You cannot own or part-own another property at the time of application.
You should have a good history of managing credit and must not have other significant debts. You must consent to a Credit Reference Limited credit check for your application to be considered.
You must have an agreed continued income of less than $70,400 gross per year (while there is no minimum income level, a gross annual income over $27,000 is usually needed to be able to afford a loan without hardship).
You need sufficient savings to meet the minimum deposit requirements and for other costs associated with a loan and the purchase of property (eg legal fees, stamp duty, insurance etc.)
You must be able to afford the loan repayments without hardship.
If you are not a Department of Housing tenant, waitlist applicant or eligible to be on the waitlist, you must provide evidence that you have been previously refused finance by a private sector lender to buy the home.

Last updated 21 March 2009