First Home Buyer: Grants and Benefits
Between federal schemes, state grants, stamp duty concessions and superannuation-based savings tools, there’s genuinely meaningful support available for first home buyers right now. Here’s a plain- English rundown of what’s currently on offer — noting that eligibility rules are detailed and change over time, so treat this as a starting point for a conversation, not a final answer.
First Home Guarantee (Federal Scheme)
The First Home Guarantee (FHBG), run by Housing Australia, lets eligible first home buyers purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI) — the government guarantees a portion of the loan to the lender instead. It’s not a cash grant; it’s a guarantee that removes an upfront cost that would otherwise run into the tens of thousands of dollars.
Following changes effective 1 October 2025, the scheme was significantly expanded:
No income caps — the previous limits ($125,000 for singles, $200,000 for couples) have been removed
No annual place limits — previously capped at 35,000 places a year, now uncapped
Higher property price caps — these are set regionally, so what you can spend in Brisbane differs from regional Queensland or interstate. Caps are reviewed periodically, so it’s worth confirming the current figure for your target area before you start looking
You generally need to be an Australian citizen or permanent resident, 18 or over, intending to live in the property, and not have owned property in Australia in the last 10 years (this last point was also relaxed as part of the 2025 changes, opening the door to some “returning” buyers)
A separate pathway exists for eligible single parents and guardians, with a lower deposit requirement
Applications go through a participating lender or broker — not directly to Housing Australia — so this is exactly the kind of scheme we can check your eligibility for as part of your application.
Queensland First Home Owner Grant
If you’re building or buying a brand-new home in Queensland, the state’s First Home Owner Grant currently provides $30,000, for eligible new homes valued under $750,000 (including land). This has been extended by the Queensland Government and continues to apply going forward — though as with any grant, the amount and cut-off dates are set by government policy and can change, so we always confirm the current figure at the time you apply.
Key points: - The home must be new — established (previously lived-in) homes don’t qualify for this grant - You (and any co-applicant) generally can’t have previously owned property in Australia - You need to live in the home as your principal place of residence, generally for a minimum continuous period after settlement or completion
Stamp Duty (Transfer Duty) Relief
Queensland currently offers a full transfer duty exemption for eligible first home buyers purchasing a new home or vacant land to build on — a saving that can run into tens of thousands of dollars depending on the purchase price. Established (existing) homes may still attract a concession depending on the purchase price, but the rules differ from the new-build exemption. Duty concessions are a state government matter administered by the Queensland Revenue Office, so we’ll always point you to confirm the current thresholds before you sign a contract.
First Home Super Saver Scheme (FHSSS)
The FHSSS lets you make voluntary contributions into your superannuation and later withdraw them (plus associated earnings, less tax) to put toward your first home deposit — taking advantage of super’s generally lower tax rate along the way. This is a strategy worth discussing with a financial adviser or accountant well before you plan to buy, since it involves contribution caps and processing timeframes with the ATO.
Stacking These Benefits
Here’s the good news: the First Home Guarantee, the Queensland grant, and stamp duty relief are administered separately and are generally designed to work together — being approved for one doesn’t automatically disqualify you from another. But each has its own eligibility criteria, application process and timing requirements, and getting the sequencing right (for example, land settlement versus construction contract dates) can matter.
Let’s Map Out What You Actually Qualify For
Every first home buyer’s situation is different, and grant rules are detailed. Rather than guessing from a blog post, let’s go through your specific numbers together.
Get Started and we’ll check every scheme you may be eligible for.
This article is general information only, current as at the time of writing, and does not take into account your personal financial situation, needs or objectives. It is not personal financial, credit, tax or legal advice. Grant amounts, price caps, income limits and eligibility criteria for government schemes are set by federal and state governments and change from time to time — always confirm current details via Housing Australia, the Queensland Revenue Office, or your broker before relying on them. The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only. Spitfire Finance Pty Ltd ABN 70 700 362 956, ACN 700 362 956 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.