What Support Is Available for First‑Home Buyers?
Australia offers three major categories of assistance:
- Grants (money you don’t repay)
- Stamp duty concessions or exemptions
- Deposit‑reduction schemes (government guarantees)
Each state has its own rules, and national schemes have limited places — so timing matters.
First Home Owner Grant (FHOG)
The FHOG is a one‑off payment for eligible first‑home buyers purchasing or building a new home.
Queensland FHOG (2026)
- $30,000 for eligible new homes valued under $750,000
- Applies to new builds, off‑the‑plan, or substantially renovated homes
- Must live in the property for at least 6 months within 12 months of settlement
Official link: https://qro.qld.gov.au/property/concessions-grants/home-owner-grants/ (qro.qld.gov.au in Bing)
Stamp Duty Concessions (QLD)
Stamp duty is one of the biggest upfront costs — but first‑home buyers can reduce or eliminate it.
First Home Concession (QLD)
- No stamp duty for homes up to $550,000
- Discounted duty for homes up to $800,000
- Must live in the home within 1 year of settlement
- Not limited to new homes — applies to established homes too
Official link: https://qro.qld.gov.au/property/concessions-grants/home-concessions/ (qro.qld.gov.au in Bing)
Home Guarantee Scheme (HGS)
The Home Guarantee Scheme helps first‑home buyers purchase with a 5% deposit and no LMI (Lenders Mortgage Insurance). This can save buyers $10,000–$30,000+ depending on the loan size.
The scheme includes three major pathways:
1. First Home Guarantee (FHBG)
- Buy with 5% deposit
- No LMI
- New or existing homes
- Income caps apply
- Limited places released each financial year
2. Regional First Home Buyer Guarantee (RFHBG)
Same benefits as FHBG
Must purchase in an eligible regional area
Must live in the region for 12 months before applying
3. Family Home Guarantee (FHG)
- Designed for single parents or single legal guardians
- Buy with 2% deposit
- No LMI
- New or existing homes
Official link: https://www.housingaustralia.gov.au/ (housingaustralia.gov.au in Bing)
How These Benefits Work Together
A first‑home buyer in QLD purchasing a $600,000 new home could combine:
- $30,000 FHOG
- Stamp duty concession (reduced or zero)
- 5% deposit under the Home Guarantee Scheme
- No LMI (saving ~$15k–$25k)
This can reduce the upfront cash requirement from $60,000+ to as little as $15,000–$25,000 depending on the scenario.
Which Option Is Right for You?
Different buyers benefit from different pathways:
If you have a small deposit (2–5%)
The Home Guarantee Scheme is usually the fastest path.
If you want to build or buy new
The FHOG gives the biggest cash benefit.
If you’re buying an established home
Stamp duty concessions + the First Home Guarantee are the strongest combination.
If you’re a single parent
The Family Home Guarantee is one of the most generous programs in Australia.
What You Need to Apply
Most lenders will ask for:
- 3–6 months of bank statements
- ID and proof of citizenship
- Income documents (payslips, tax returns, BAS for self‑employed)
- Evidence of savings
- Contract of sale (once you find a property)
Fundsie handles the lender matching, scheme eligibility checks, and application process for you.
Ready to Start Your First‑Home Journey?
Buying your first home doesn’t need to be overwhelming. With the right structure — and the right combination of grants, concessions, and schemes — you can get into the market sooner and with far less upfront cost.
Fundsie helps first‑home buyers understand their options, compare lenders, and secure the right loan with confidence.
If you’d like, I can also prepare a second post that complements this one — for example: “How Much Deposit Do You Really Need to Buy Your First Home?”
