First Home Buyer Australia 2026: Every Grant, Scheme & Stamp Duty Saving by State

If you're buying your first home in Australia in 2026, there's never been more support available. The federal scheme just changed completely. Every state is offering grants, stamp duty exemptions, or both. And depending on where you live and what you buy, you could legitimately stack $40,000 to $80,000 or more in government assistance.

The catch — and there's always a catch — is that every scheme has different rules, different price caps, different deadlines, and different definitions of what counts as a "first home buyer". Miss the eligibility on one and it can knock out another. Get it right and you can walk into your first property with thousands more in your pocket than the person next to you at the auction.

This guide covers every federal scheme and every state and territory program available to first home buyers as of May 2026. Use the jump links to skip to your state.

The federal schemes — available nationwide

Three federal programs are available to first home buyers in every state and territory. These sit on top of whatever your state government offers, and they can usually be stacked.

1. The First Home Guarantee (5% deposit, no LMI)

This is the big one. The First Home Guarantee (FHBG) lets eligible first home buyers purchase with as little as a 5% deposit and avoid Lenders Mortgage Insurance entirely. The federal government guarantees up to 15% of the property value to the lender, so the bank treats your loan as if you'd put down 20%.

The scheme changed dramatically on 1 October 2025. The previous income caps ($125,000 single / $200,000 couple) have been removed entirely. The previous annual cap of 35,000 places has been abolished — there's now no limit on how many guarantees can be issued. Property price caps were also lifted significantly across the country.

2026 property price caps under the FHBG:

• NSW (Sydney + Illawarra, Newcastle, Lake Macquarie): $1,500,000
• VIC (Melbourne + Geelong): $950,000
• QLD (Brisbane + Gold Coast, Sunshine Coast): $1,000,000
• WA (Perth + regional centres): $850,000
• SA (Adelaide): lower capital city tier — confirm with Housing Australia
• TAS (Hobart): lower capital city tier
• ACT: lower capital city tier
• NT: $750,000 from 1 July 2026 (Darwin); rest of NT $600,000

To qualify, you must be an Australian citizen or permanent resident, aged 18+, a first home buyer (or have not owned property in Australia in the last 10 years), and intend to live in the property as your principal place of residence. You apply through one of the participating lenders — not directly to Housing Australia.

On a $600,000 purchase, the FHBG can save you $15,000 to $35,000 in LMI premiums alone. That's money that would otherwise be added straight to your loan balance.

2. The First Home Super Saver Scheme (FHSS)

The FHSS lets you make voluntary contributions to your super and withdraw them (plus deemed earnings) when you're ready to buy your first home. You can withdraw up to $15,000 per financial year, capped at a total of $50,000 per person (or $100,000 for a couple).

The benefit is tax efficiency — concessional contributions are taxed at 15% inside super instead of your marginal rate, which can be 32.5% or more outside super. For someone in the 32.5% bracket, the difference on a $15,000 contribution is around $2,600 a year.

The catch: you need to plan ahead. Once you request a FHSS determination from the ATO, you have 14 days to sign a contract. If you withdraw the funds but don't buy, you'll pay a significant tax penalty.

3. Help to Buy (shared equity scheme)

Help to Buy is the federal government's shared equity scheme — the Commonwealth takes up to 30% equity in an existing home or 40% in a new build, reducing the loan you need to service. It opened for broader applications in late 2025.

You need a 2% deposit. The trade-off is that the government effectively owns a share of your property until you buy them out. If property prices rise, the government's share rises too — meaning the buy-out price increases. It's not for everyone, but for buyers locked out of the market entirely, it can be the difference between buying and renting indefinitely.

Income caps apply: $100,000 for singles, $160,000 for couples. Property price caps roughly mirror the FHBG.

New South Wales

Victoria

Queensland

Western Australia

South Australia

Tasmania

Australian Capital Territory

Northern Territory

How to stack the schemes — without losing one in the process

The schemes mostly stack — but the order in which you confirm eligibility matters. Here's the framework we use with clients:

Step 1: Confirm federal eligibility first

Before anything else, confirm the First Home Guarantee eligibility. The 5% deposit pathway and the LMI saving are usually the biggest single benefit, and they apply nationwide. If you don't qualify federally, the state benefits become more important to maximise.

Step 2: Map the state grant against the property type

Most state cash grants are new-builds-only. If you're set on an established home, you'll lose the grant in NSW, VIC, WA, QLD, SA and the NT. In NSW and Tasmania, the stamp duty exemption still applies to established homes — in others, it doesn't.

This is the single biggest decision point: new build vs established. The numbers can swing by $30,000 to $50,000 depending on which side of that line your property sits.

Step 3: Check the property against every applicable price cap

You may have three or four different price caps to satisfy at once: the federal FHBG cap, the state FHOG cap, the state stamp duty exemption cap, and any shared equity cap. The lowest applicable cap is your effective ceiling.

Example: in Victoria, a new home at $700,000 qualifies for the $10k FHOG (cap $750k), gets a partial stamp duty concession (cap $750k), and qualifies for the FHBG (cap $950k). All three apply. At $760,000, the FHOG and the stamp duty concession are both gone — only the FHBG remains.

Step 4: Check deadlines

Several headline benefits have hard deadlines in 2026 and 2027 — some as close as 30 June 2026. The full list of currently-legislated changes with dates and exact before/after positions is in the key date changes section below. The two you most need to know about right now:

• QLD $30,000 FHOG — reverts to $15,000 after 30 June 2026 (contract date must be on or before to lock the boosted amount)
• Tasmania $750k stamp duty exemption — currently set to expire 30 June 2026 unless extended (saves up to ~$28,935)

Step 5: Layer in FHSS where it makes sense

The First Home Super Saver Scheme works best when you have at least 12 months of advance planning — long enough to contribute the maximum and have the tax benefit flow through. If you're buying in the next 90 days, FHSS is usually too late to set up cleanly.

A worked example: a Melbourne first home buyer in 2026

Let's run actual numbers. Imagine a couple buying their first home in Melbourne for $700,000 as a new build:

That's nearly 10% of the purchase price in government and tax-related support. The same buyer in Adelaide buying a new build of the same price would do even better (no stamp duty cap, $15k grant). The same buyer in NSW buying an established home would lose the FHOG but gain a much larger stamp duty saving.

What does a mortgage broker actually do for first home buyers?

A mortgage broker is a licensed credit professional who acts as the bridge between you and the lenders. We're not employees of any bank — we work for you. For first home buyers in particular, a good broker does five things a bank branch lender cannot.

By law (under the Best Interests Duty introduced 1 January 2021), Australian mortgage brokers must act in your best interest — not the lender's. Bank lenders aren't held to the same legal standard. Book a free 15-minute review if you want to map your stack with us.

How much does a mortgage broker cost? (Spoiler: $0 to you, in almost every case)

This is one of the most-searched mortgage broker questions in Australia — and the answer is reassuring. A good mortgage broker should cost a first home buyer nothing out of pocket.

How brokers get paid

Australian mortgage brokers are paid by the lender at settlement, not by you. Two components:

• Upfront commission: typically 0.55%–0.66% of the loan amount, paid to the broker by the lender when the loan settles. On a $500,000 loan, that's about $2,750–$3,300 from the lender, not from you.
• Trail commission: a smaller ongoing payment (usually 0.15%–0.22% per year) for as long as you keep the loan. This funds the broker's ongoing review of your loan over the years.

Crucially, the rate you get is the same whether you go direct to the bank or through a broker. The bank doesn't add a margin to fund the broker — they pay it from their existing marketing budget, because acquiring a customer through a broker is cheaper for them than running their own branches.

How to compare mortgage broker fees and commissions

If a broker is trying to charge you a fee, ask exactly why. Three legitimate reasons exist:

1. Specialist or complex scenarios — non-resident loans, complex business income, or very small loan sizes where the lender commission doesn't cover the broker's time. Should be disclosed upfront.
2. Claw-back protection — if you refinance within 2 years, the lender claws back the upfront commission. Some brokers ask for a claw-back protection clause. This is reasonable, but should be in writing.
3. Aggregator or specialist consulting fees — for advice that isn't tied to a loan settlement, e.g. structuring advice.

For a straightforward first home buyer loan in Australia, expect to pay $0. Under the Best Interests Duty, your broker must also disclose all commissions to you in writing before you sign anything.

Which mortgage brokers offer low deposit home loans for first home buyers?

"Low deposit" can mean anything from 5% to 15% depending on the lender. In 2026, first home buyers in Australia have four genuine low-deposit pathways — and a good broker should know all of them.

1. The First Home Guarantee — 5% deposit, no LMI

The cleanest option. 5% deposit, government guarantees the rest, no Lenders Mortgage Insurance. From 1 October 2025, income caps were removed and places are uncapped. See the federal schemes section above for full details. Available through 33+ participating lenders — most major banks, some non-banks. Your broker needs to be on the right panel.

2. Help to Buy — 2% deposit, shared equity

Federal shared equity scheme. The government takes up to a 30% equity stake (40% for new builds) in exchange for a 2% deposit. Lower entry cost, but you share future capital growth. See full details above.

3. State shared equity schemes

QLD Boost to Buy, SA HomeStart shared equity, TAS MyHome, WA Keystart. Each has its own deposit minimum and equity terms. Generally restricted to lower-income earners. Reviewed in each state section above.

4. Genuine savings + LMI loans

Some lenders accept 5%–10% deposits without the federal scheme, but charge Lenders Mortgage Insurance — typically $10,000–$35,000 added to the loan. Almost always worse than the First Home Guarantee for an eligible buyer, but useful for those who don't qualify (e.g. previous property owners, non-resident buyers, certain visa holders).

Different lenders have very different appetites for low deposit lending. Some will approve 5% LVR confidently; others quietly add overlays that make it harder. A broker who places these regularly knows which lenders are most likely to approve a 5% deposit application for your specific income, employment type and property location.

Finding a first home buyer mortgage broker near you

For most Australians, the right mortgage broker doesn't need to be down the street — but they do need to be local enough to understand your market, your state's grant rules, and ideally meet you face-to-face when it matters. Our office is in South Yarra and we work primarily with Melbourne and Victorian first home buyers, with selective referrals interstate where we hold appropriate accreditations.

What to look for in a first home buyer mortgage broker

• Australian Credit Licence or Credit Representative number — verifiable on the ASIC Connect register. Without one, they cannot legally arrange your loan.
• FBAA or MFAA membership — the two industry bodies. Membership is a baseline professionalism marker.
• Direct experience with the federal scheme — ask how many First Home Guarantee applications they've placed in the last 12 months. The right answer is "lots".
• State-specific knowledge — for Melbourne buyers, the SRO Victoria thresholds and OTP concession matter enormously. A broker who only knows generic federal rules will miss state-level optimisation.
• Independence — the broker should access a panel of 30+ lenders, not be tied to a small "club" panel that limits options.
• Transparent fee structure — commissions disclosed in writing before you sign anything.

Why we work with first home buyers across Melbourne

Everstone Finance is an independent mortgage brokerage based in South Yarra, founded by ex-bankers (Ahmed Lotfi/Yousef and Zappelin Heng). We hold Credit Representative number 574314 under LMG Broker Services (ACL 517921) and are FBAA members (M-361360). Our entire focus is helping clients secure the best possible outcome from a competitive lender panel — and for first home buyers, that means mapping every available grant, scheme, concession and exemption before recommending a lender.

If you're a first home buyer in Melbourne, the inner suburbs, or anywhere in Victoria, we'd genuinely like to help. The initial 15-minute review is free and obligation-free.

Common questions about first home buyer schemes

Can I use the First Home Guarantee for an established home?

Yes. The federal First Home Guarantee covers existing homes, new builds, house and land packages, and off-the-plan purchases. This is different to most state cash grants, which apply only to new builds.

Do the state and federal schemes stack?

In almost all cases, yes. The First Home Guarantee can be combined with state FHOGs and state stamp duty exemptions. The First Home Super Saver Scheme is independent and can be stacked on top of everything. The main exception is shared equity schemes — using Help to Buy (federal) and a state shared equity scheme together is usually not permitted.

What counts as a "new home"?

Generally: a home that has never been previously occupied or sold as a place of residence. This includes off-the-plan apartments, house and land packages, and (sometimes) substantially renovated homes where most of the original structure was replaced. Definitions vary by state — check the relevant state revenue office.

What if I've previously owned an investment property?

For most state FHOGs, prior investment ownership disqualifies you — even if you never lived in the property. Federal FHBG eligibility also requires you to be a first home buyer (or have not owned property in the last 10 years). Some states have a "fresh start" provision after a long gap of no ownership.

Can I rent the property out after settlement?

Generally no — not within the first 6 to 12 months. All schemes require the property to be your principal place of residence for a minimum period (usually 6 to 12 months). Renting out a single room while you live in the property is now permitted in some states (notably Queensland, with conditions). Renting out the whole property triggers a clawback.

Do I need to apply for each scheme separately?

For the state FHOG and stamp duty concession, your conveyancer or solicitor usually handles the applications as part of settlement. The First Home Guarantee is arranged through your lender (or broker) when you apply for the loan. The First Home Super Saver Scheme requires a separate ATO determination and withdrawal request, which you initiate yourself.

What's the deposit minimum if I use all the schemes?

5% under the First Home Guarantee, or 2% if you use Help to Buy or a state shared equity scheme. You'll still need additional funds for moving costs, building inspections, conveyancing fees, and any duty that remains after concessions.

Does FHB support mean I can borrow more?

Not directly. Borrowing capacity is set by the lender's serviceability assessment — your income, expenses, existing debts, and the buffered interest rate. The schemes reduce your upfront costs and let you enter with a smaller deposit, but they don't change how much the bank will lend you. This is the most common misconception we encounter.

Should I rush to use a scheme before it expires?

Only if the property you want is right and the loan structure makes sense. Rushing into a poorly chosen property to capture a $30k grant is almost always more expensive than waiting and buying well. The grants are valuable — they're not the main game.

Do you charge a fee to help me apply?

No. Our service is paid by the lender at settlement if we proceed with the loan. The initial assessment is free, takes 30 to 45 minutes, and there's no obligation. We'll model the exact stack of grants, concessions, and federal scheme benefits available to you for your target property and price range, and tell you honestly what the numbers look like.

How do I find the best mortgage broker near me for first home buyers?

Look for a broker who: (1) is independently licensed under an Australian Credit Licence or a recognised aggregator (verifiable on the ASIC Connect register), (2) is a member of either the FBAA or MFAA, (3) has placed dozens of First Home Guarantee applications recently, (4) knows your state's specific scheme rules and price cap interactions, and (5) accesses a wide lender panel (30+ lenders) rather than a small "club" panel. Read recent reviews on independent sources, not just the broker's own website. For first home buyers in Melbourne, we'd love to help — book a free review.

Is there a free mortgage broker for first home buyers?

Yes — almost every mortgage broker in Australia is free to first home buyers. Brokers are paid commission by the lender at settlement, not a fee from you. The rate you get through a broker is the same as (and often better than) going direct to the bank. Confirm in writing before signing that there's no broker fee, and confirm any clawback conditions if you intend to refinance within 2 years.

Should I use a mortgage broker or go direct to the bank as a first home buyer?

A broker can compare 30+ lenders; a bank can only offer their own products. For first home buyers stacking multiple grants and the federal scheme, a broker is almost always the better path because we know which lenders participate in the First Home Guarantee and which assess your specific income type favourably. The exception is if you already have a strong existing relationship with a bank that's willing to offer you a better-than-market rate — rare, but worth checking.

Which mortgage broker offers the lowest deposit for first home buyers?

"Lowest deposit" isn't determined by the broker — it's determined by the scheme and the lender's policy. The federal First Home Guarantee allows 5% deposit with no LMI. Help to Buy allows 2% with shared equity. Your broker's role is to identify which lender on the federal panel will approve your specific application most cleanly and at the best rate, given your income type, employment, and target property. A broker accredited across 30+ lenders has more options than one accredited with 6.

What documents do I need to apply for a first home buyer loan?

Standard documents: photo ID (driver's licence or passport), 3 months of payslips, last 2 years of tax returns (if self-employed), 3 months of bank statements showing genuine savings, your most recent superannuation statement (for FHSS), and details of any existing debts (credit cards, HECS, BNPL, personal loans). Your broker will provide a complete checklist tailored to the specific lender and scheme you're applying for.

How long does it take to get a first home buyer loan approved?

Pre-approval typically takes 5–10 business days for a clean application. From signing a contract to settlement is usually 30–42 days. The First Home Guarantee adds a step (the lender confirms a guarantee place with Housing Australia), which can add a few days. If you have a complex income situation or are using multiple schemes, allow longer.

The honest summary

In 2026, the schemes available to Australian first home buyers are more generous than they've ever been. The federal First Home Guarantee is now effectively uncapped. State grants range from $0 (ACT) to $50,000 (NT). Stamp duty exemptions cover anywhere from 100% (QLD and SA on new builds) to a few specific scenarios (NT). Done well, eligible buyers can reduce their upfront costs by $50,000 to $80,000 compared to a buyer who doesn't optimise.

The structure of the schemes is also the source of most of the trap doors. Price caps, deadlines, property type restrictions, and income thresholds all interact in ways that aren't obvious from any single state's website. This is exactly where a properly briefed broker earns their fee.