Three separate forms of help are currently available to eligible first home buyers in Queensland, and they are not mutually exclusive: the $30,000 First Home Owner Grant for new homes, a transfer (stamp) duty concession that can remove duty entirely on many purchases, and the federal First Home Guarantee, which lets you buy with a 5% deposit and no lenders mortgage insurance. Here is what each one is actually worth, who qualifies, and whether you can stack them together.
Grant amounts, price caps and eligibility rules for these schemes change over time and are set by the Queensland Government and the federal government, not by loan-o. The figures below reflect the rules published by the Queensland Revenue Office, qld.gov.au and Housing Australia as at September 2026 - always confirm current figures on those official sites or with a loan-o specialist before relying on them.
1. The Queensland First Home Owner Grant
The First Home Owner Grant is currently $30,000, for contracts to buy or build a new home signed on or after 20 November 2023, with that higher amount confirmed to continue for contracts signed from 1 July 2026 onward. It is a one-off payment, not a loan, and does not need to be repaid.
To qualify, you generally need to:
- Be buying or building a new home - not an established property
- Have a total property value (home and land) under $750,000
- Be at least 18, with at least one applicant an Australian citizen or permanent resident
- Not have owned residential property in Australia that you lived in since 1 July 2000 (or at all, if before that date)
- Move into the home within 1 year of completion and live there for at least 6 continuous months
- Not have received a first home owner grant in any other Australian state or territory
Because it is restricted to new homes, the grant does not help if you are buying an established house or unit - that is where the transfer duty concession below comes in instead.
2. Queensland transfer (stamp) duty concessions
Separately from the grant, Queensland offers transfer duty concessions for eligible first home buyers, with different rules depending on what you are buying:
- New home: since 1 May 2025, the first home (new home) concession removes transfer duty entirely for an eligible new home, with no value cap.
- Established home: the first home concession removes duty entirely for eligible established homes valued up to $700,000, with a reduced (partial) concession available on a sliding scale between $700,001 and $800,000.
- Vacant land: since 1 May 2025, the first home vacant land concession removes duty on the residential portion of eligible vacant land, with no value cap, provided you build and move into your first home within the required timeframe.
These concessions are assessed separately from the First Home Owner Grant and have their own eligibility tests. The Queensland Revenue Office publishes an eligibility tester and calculator that gives an exact figure for your specific purchase.
3. The First Home Guarantee (federal, 5% deposit)
The First Home Guarantee is a federal scheme run by Housing Australia that lets eligible first home buyers purchase with as little as a 5% deposit while avoiding lenders mortgage insurance (LMI) - normally required when a deposit is under 20%. The government guarantees the gap between your deposit and the usual 20% threshold, which is what allows the lender to waive LMI.
From 1 October 2025, the scheme removed its annual place caps and income limits, so it is no longer restricted to a fixed number of buyers per year or means-tested on income. Property price caps still apply and vary by region - as at the time of writing, the cap for Queensland is $1,000,000 for Brisbane, the Gold Coast and the Sunshine Coast, and $700,000 for the rest of the state. You do not apply to Housing Australia directly; the scheme is accessed through a panel of participating lenders.
Quick comparison
| Scheme | What it does | Applies to |
|---|---|---|
| First Home Owner Grant | $30,000 cash grant | New homes under $750,000 |
| Transfer duty concession | Reduces or removes stamp duty | New homes, established homes, vacant land (separate rules) |
| First Home Guarantee | 5% deposit, no LMI | Homes under regional/metro price caps |
Can you combine all three?
Generally, yes. An eligible buyer purchasing a new home under $750,000 could potentially receive the $30,000 grant, pay no transfer duty under the new home concession, and buy with a 5% deposit and no LMI under the First Home Guarantee - all at once, since each is assessed independently against its own criteria. This is exactly the kind of combination worth mapping out with a specialist before you make an offer, because missing one eligibility detail on any single scheme can change the numbers significantly.
What these schemes do not cover
None of these schemes remove the need for genuine savings. You will still typically need funds for building and pest inspections, conveyancing and legal fees, loan establishment costs, and moving costs - plus your share of the deposit even under the First Home Guarantee's reduced 5% threshold. For a personal loan or car loan alongside your home purchase, see our glossary entry on LVR for how deposit size affects lending risk more broadly.
The takeaway
For eligible Queensland first home buyers building or buying new, the combination of the $30,000 grant, a full transfer duty exemption and the First Home Guarantee can meaningfully change what is achievable. Established-home buyers miss out on the grant but can still access a duty concession and the guarantee. Because eligibility rules and price caps are reviewed periodically, always check the current figures on the Queensland Revenue Office and Housing Australia websites, or ask a loan-o specialist to confirm what applies to your specific purchase.
Finance is subject to lender approval, lending criteria, terms, conditions, fees and charges. The information in this article is general and does not take into account your personal or business needs. Government grants and schemes are administered by the Queensland Government and the Australian Government, not loan-o, and are subject to change.
Last reviewed: 1 September 2026. This article was prepared using information published by the Queensland Revenue Office, qld.gov.au and Housing Australia. This content provides general information only and should not be treated as personal financial, tax, legal or credit advice. As government schemes change, figures in this article may become outdated - always verify current details before relying on them.
Frequently asked questions.
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$30,000, for eligible contracts to buy or build a new home, continuing for contracts signed from 1 July 2026 onward. It only applies to new homes valued under $750,000 (including land) - not established properties.
No. The First Home Owner Grant only applies to new homes - newly built, bought off the plan, or substantially renovated. Established homes may still qualify for a transfer duty concession instead.
No - an eligible buyer can generally use all three at once: the grant and a duty concession reduce your upfront costs, while the First Home Guarantee lets you borrow with a smaller deposit and no lenders mortgage insurance. Each has its own separate eligibility criteria.
As at the time of writing, $1,000,000 for Brisbane, the Gold Coast and the Sunshine Coast, and $700,000 for the rest of Queensland. These caps are reviewed periodically by Housing Australia.
The First Home Guarantee removed its income caps from 1 October 2025. The First Home Owner Grant and transfer duty concessions are not means-tested on income, but do have their own eligibility rules around property value, citizenship and prior home ownership.
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