First Home in Queensland: What Help Is Actually on the Table in 2026

Buying your first home is a big call. Queensland first home buyers currently have access to several government schemes. The catch is that every scheme has its own rules, and they don't always fit together the way people think. Here's the straight version.

1. The 5% Deposit Scheme (federal)

This scheme used to be called the First Home Guarantee. It lets eligible first home buyers buy with as little as a 5% deposit without paying lenders mortgage insurance. That's the insurance that protects the lender, which you'd normally pay for when your deposit is under 20%.

How it works: the government guarantees part of your loan to the lender. That protects the lender, not you.

• You still have to get approved by a participating lender.
• You still owe the full loan.
• You still pay your own stamp duty and purchase costs.
• You also need to live in the home. The scheme is for owner-occupiers, not investors.

Since October 2025 there are no income caps and no limit on the number of places. Property price caps still apply:

• $1 million for Brisbane, the Gold Coast and the Sunshine Coast
• $700,000 for the rest of Queensland

Caps are set by location, so check your postcode with Housing Australia's online tool.

There's a trade-off. A smaller deposit means a bigger loan, which means more interest over the life of the loan and less buffer if property values dip. Run the numbers before you decide.

2. The $30,000 First Home Owner Grant (Queensland), new homes only

The boosted $30,000 grant has been kept on past 30 June 2026. The rules:

• It only applies to a brand-new home or a home you're building.
• The home and land together must be worth less than $750,000.
• You have to move in within 12 months and live there for at least six months straight.

Buying an established home? The grant doesn't apply.

3. No stamp duty on a new first home

If you're an eligible first home buyer buying a new home, or buying vacant land to build your first home on, you may pay no transfer duty at all. There's no price cap on this concession.

For contracts signed from 1 August 2026, you also need to be an Australian citizen, a permanent resident or a specified foreign retiree.

Buying an established home? A separate first home concession can cut your stamp duty, depending on the price.

How they stack

The Queensland Revenue Office says the state grant is separate from the federal scheme, so qualifying for one doesn't affect the other.

That means a first home buyer building new in a Moreton Bay estate could potentially use all three, if they meet every requirement of each. Buying established? The grant is off the table, but the 5% scheme and a stamp duty concession may still apply.

Where people get caught out

• Assuming they qualify. Past property ownership, including an investment property, can affect your eligibility. Check the rules for each scheme.
• Forgetting the other costs. Conveyancing, building and pest inspections, lender fees and moving all come out of your pocket.
• Assuming every lender offers the scheme. Only participating lenders offer the 5% Deposit Scheme. If a lender you're interested in isn't on Mark's panel, he'll tell you.
• Borrowing the maximum. The Reserve Bank has lifted the cash rate several times in 2026. Lenders test your application with a rate buffer, and your own budget needs a buffer too.

Where Mark comes in

As a mortgage broker, Mark is legally required to act in your best interests. For first home buyers, that includes telling you about schemes you might be eligible for, even if you didn't ask. He'll work through your eligibility, your deposit, your borrowing capacity and what the lenders on his panel will actually do for your situation.

Thinking about your first home? Book a no-cost appointment with Mark at Bribie Island Lending and get a clear picture before you start house hunting.

General information only. This article doesn't consider your objectives, financial situation or needs, and it isn't tax or legal advice. Eligibility criteria apply to all government schemes. Check the rules with Housing Australia and the Queensland Revenue Office. Lending criteria, fees and charges apply, and all loans are subject to lender approval. Mark doesn't charge you for an appointment. Like most brokers, he's generally paid a commission by the lender if a loan settles, and his credit guide sets out how. Information is current as at September 2026 and may change. Mark Hind is an Authorised Credit Representative (519951) of Outsource Finance Pty Ltd, Australian Credit Licence 384324.

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