First Home Buyer's Guide to Grants and Schemes in Australia

One of the most common questions first home buyers ask is: “What help is available to me?” The answer is genuinely encouraging — there’s a meaningful stack of federal and state government support. The challenge is understanding what you’re actually eligible for, since the rules vary significantly by state and change regularly.

The First Home Guarantee (Federal)

Previously called the First Home Loan Deposit Scheme, the First Home Guarantee allows eligible first home buyers to purchase with a deposit as low as 5% without paying Lenders Mortgage Insurance (LMI). The government essentially guarantees the remaining 15% of the deposit, removing the need for LMI — which can save buyers anywhere from $5,000 to $30,000+ depending on the loan size.

Places are limited each financial year and are allocated through participating lenders. Income caps and property price caps apply and vary by location. As at 2026, the scheme has been expanded, but spots still fill — getting your application in early in the financial year matters.

The Regional First Home Buyer Guarantee

A companion scheme to the First Home Guarantee, this program targets buyers purchasing in regional Australia. The same 5% deposit, no-LMI structure applies, but it’s specifically for properties outside capital cities and major urban centres. If you’re buying regionally, this may be the more relevant scheme — and competition for places has historically been lower.

The First Home Super Saver Scheme (FHSS)

The FHSS allows first home buyers to save money for their deposit inside their superannuation fund, taking advantage of the concessional tax rates that apply to super contributions. You can make voluntary contributions and then apply to release those funds (plus associated earnings) when you’re ready to buy.

The maximum releasable amount has increased in recent years. The tax saving comes from the difference between your marginal tax rate and the 15% contributions tax — for someone on a higher marginal rate, this can be a meaningful saving over several years of saving. The downside is the funds are locked in super until you apply for release, and there are specific rules about how and when you can access them.

State and Territory Grants

Each state and territory has its own First Home Owner Grant (FHOG). These are typically lump-sum cash grants — often between $10,000 and $30,000 — for buyers who are purchasing or building a new home. The grant amounts, property value caps, and eligibility rules differ significantly by state.

In general, the FHOG is more accessible for new builds than for established properties — several states have phased out the grant for established homes entirely, directing support toward new construction to boost housing supply. If you’re considering building, the grant could be a meaningful contribution to your costs.

Stamp Duty Concessions

Stamp duty (or transfer duty) is typically one of the biggest upfront costs in a property purchase. Most states offer first home buyers either a full exemption or a significant concession on stamp duty, subject to the purchase price falling under certain thresholds. In some states, the concession tapers off above a certain price point rather than cutting off entirely.

The savings here can be substantial — on a $600,000 home, stamp duty in New South Wales would typically run over $20,000. A first home buyer concession or exemption at that price point could save the full amount. Again, the thresholds vary by state and are updated periodically.

A Note on Changing Rules

This is genuinely important: grant amounts, income caps, property price thresholds, and scheme availability all change regularly — sometimes mid-year. What applied when your friend bought two years ago may not apply today. Some schemes have sunset dates; others are expanded or wound back in federal and state budgets.

Before making any purchasing decisions based on grant eligibility, get current advice. A mortgage broker who works with first home buyers regularly will know the current status of all applicable schemes for your state and situation, and can help you structure your purchase to maximise your eligibility.

How to Access These Schemes via a Broker

Most of these schemes are accessed through your lender at the point of application — but not all lenders are participating lenders for every scheme. A mortgage broker can identify which lenders can offer you the relevant guarantee or grant, structure your application accordingly, and ensure you’re not missing out on support you’re entitled to.

Getting this right from the start is far easier than trying to retrofit it after you’ve already started an application. Book a consultation early in your home-buying journey, ideally before you’ve started seriously inspecting properties.

This article contains general information only and does not constitute financial or credit advice. Please speak with a qualified mortgage broker to discuss your individual circumstances.