For Queenslanders Maddie and Matt, owning a home had always seemed like a distant dream. The couple, who moved back in with their parents to save money, were daunted by the idea of saving for a large deposit while also juggling the higher cost of living.
But with some guidance from their NAB home lender, Nadine Heine, who told them how they could purchase a house with just 5% deposit under the government’s First Home Guarantee, their dream became a reality much sooner than they thought.
“We were just living between houses trying to save money,” Maddie explained.
“Living with parents gets a bit tough, so we thought we’d start renting. But when we found out it was going to be $550 a week, we were shocked. That’s when we decided to go to a broker or bank to find out how much we could actually borrow.”
The couple said their initial encounter with a broker didn’t help them. “We weren’t that happy with the service,” Maddie recalled. “They didn’t explain our options properly. We didn’t know about the government programs that could help us.”
It wasn’t until they were referred by their local branch to NAB home lender Nadine that they finally began to understand their options.
Nadine, a NAB home lender in Far North Queensland, provided the clarity they needed and explained the details of the First Home Guarantee.
“We didn’t even know we were eligible until Nadine told us about it,” Matt said.
“Without her, I don’t think we would have used the program.”
Nadine remembered the couple well. “They were a little stressed. They thought their dream of owning a home was out of reach because of their employment situation at the time. Maddie was working casually in hospitality, and Matt had just started his role as a fly-in, fly-out worker. They’d been told they needed to be in their roles longer before they could borrow, which wasn’t the case,” she explained.
The First Home Guarantee has been a game-changer for first-time buyers like Maddie and Matt. It reduces the deposit required to 5%, with the government acting as a guarantor for part of the loan, eliminating the need for lenders mortgage insurance (LMI) and saving buyers thousands of dollars.
“We had some savings but when Nadine explained we could get a property with 5% deposit, we were amazed,” Maddie said.
With the confidence and clarity they had gained from dealing with Nadine, they found a home close to where they were renting in Innisfail. For Maddie, the feeling of finally having a place to call their own was almost surreal. “As soon as we got the keys, we slept here the first night with just a mattress on the floor,” she recalled. “We were so keen to move in.”
Their new home has provided a much-needed sense of stability, especially for their two-year-old son. “He’s loving it,” Maddie said. “It’s a big transition for him, but we’re nice and close to family, so we don’t feel isolated.”
For Matt, who spends time away for work, owning their home has been a huge relief. “It’s a lot less stressful now,” he said. “We used to bounce between houses—my parents’ place when I was home and Maddie’s parents’ when I was away. Now, we have our own place, and it makes a big difference.”
Nadine is thrilled to have been part of their journey. “Helping people like Maddie and Matt is the most rewarding part of my job,” she said. “When they first came to me, they were so unsure about everything—whether they could even afford a home, what they needed to do to qualify. To see them now, settled in their own home, is fantastic. It’s what this scheme is all about—giving people the chance to achieve their dream of homeownership when they thought it was out of reach.”
Reflecting on their journey, Maddie and Matt are grateful they met Nadine. “We had this misconception that we could only access help for a deposit if we bought a new property, which was way out of our budget,” Maddie said. “Nadine made everything so clear and helped us every step of the way. Without her, we wouldn’t be in our home today.”
As first-time buyers, the couple’s advice to others is simple: “Don’t assume you can’t afford to buy,” Maddie said. “Talk to someone who knows the programs that are out there to help. We thought it would take years for us to save enough, but we were able to get into our home much sooner than we expected.”
Now, a month into living in their new home, the couple is starting to settle in and make it their own. “We’ve had a few friends over, but we haven’t really had a housewarming yet,” Maddie said. “We’re still just getting used to the fact that this place is ours. It’s a great feeling.”
For Maddie, Matt, and their young son, the experience of owning a home has been lifechanging, especially after once seeming like a big hurdle to cross.
“We’re planning for some renovations and other things we can do on the house in the near future, which is exciting,” Maddie said.
“Having a home of our own—it changes everything,” Matt said.
Find out more about buying your first home on the NAB website.
For support to manage your personal finances Your Money offers tips and insights to help you build a smarter relationship with money.
