Your Ultimate Guide to First Home Buyer Schemes in 2026
Purchasing your first home is a landmark achievement, but navigating the property market in 2026. Especially in sought after areas like South East Queensland, presents significant challenges. From accumulating a deposit to understanding complex lending criteria, the hurdles can seem daunting.
This guide is designed to provide clear, direct answers to your most pressing questions about first home buyer grants and schemes. As an experienced mortgage broker, I have structured this resource so you can quickly find the information you need and take confident steps toward homeownership.
Current First Home Buyer Schemes in Australia for 2026
The Home Guarantee Scheme
The Home Guarantee Scheme is an Australian Government initiative designed to help eligible Australians purchase a home sooner. The scheme includes several programs tailored to different buyer circumstances:
1. First Home Guarantee (FHG)
The First Home Guarantee is designed to help first home buyers enter the property market with a smaller deposit.
How it works:
•The scheme allows eligible first home buyers to purchase a property with as little as a 5% deposit.
•The Australian Government, through Housing Australia, provides a guarantee to participating lenders for up to 15% of the property value.
•This eliminates the need for Lenders Mortgage Insurance (LMI), which is typically required for loans with less than a 20% deposit.
•The guarantee remains in place for the life of the loan or until the loan is refinanced.
Eligibility criteria:
•Australian citizenship or permanent residency
•First home buyer status (or not having owned property in Australia in the last 10 years)
•Income caps: $125,000 for individuals or $200,000 combined for couples (based on your previous financial year’s taxable income)
•Minimum age of 18 years
•Minimum 5% genuine savings deposit
•Intent to live in the property as an owner-occupier (investment properties are not eligible)
Property price caps:The scheme includes property price thresholds that vary by location. In Queensland, these caps are:
•Brisbane, Gold Coast, Sunshine Coast: $1,000,000
•Other Queensland regions: $700,000
Application process:You cannot apply directly to Housing Australia for the guarantee. Instead, you must:
1.Check your eligibility using the online eligibility tool.
2.Apply through a participating lender or their authorized mortgage broker.
3.Provide necessary documentation including proof of identity, income verification, and a signed statutory declaration.
4.If eligible and a place is available, your lender will reserve a guarantee place for you.
5.You then have 90 days to find a suitable property and sign a contract of sale.
Important considerations:
•Places are limited and released annually (typically on July 1).
•The scheme operates on a first-come, first-served basis.
•You must maintain owner-occupier status to retain the guarantee.
2. Regional First Home Buyer Guarantee (RFHBG)
As of 2026, the Regional First Home Buyer Guarantee has been integrated into the broader First Home Guarantee program. This change, which took effect from June 30, 2025, means there is no longer a separate scheme for regional buyers. However, the First Home Guarantee is still available to eligible buyers in regional areas, subject to the same eligibility criteria and property price caps.
3. Family Home Guarantee (FHG)
This scheme supports single parents with dependents to enter or re-enter the housing market with a smaller deposit.
How it works:
•Allows eligible single parents to purchase a home with as little as a 2% deposit.
•The government guarantees up to 18% of the property value.
•Available for both first home buyers and previous property owners.
Eligibility criteria:
•Must be a single parent with at least one dependent child.
•Australian citizen aged 18 years or older.
•Annual taxable income of no more than $125,000.
•No current property ownership (though previous ownership is allowed).
First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme allows first home buyers to save for a deposit inside their superannuation fund, taking advantage of the concessional tax treatment of superannuation.
How it works:
•You make voluntary contributions to your superannuation fund.
•These can be concessional (before-tax) or non-concessional (after-tax) contributions.
•When ready to buy, you apply to the ATO to release these funds plus associated earnings.
•Concessional contributions are taxed at 15% within super (typically lower than your marginal tax rate).
•You can contribute up to $15,000 per financial year.
•The maximum releasable amount is $50,000 across all years plus associated earnings.
Eligible contributions:
•Voluntary concessional contributions (including salary sacrifice)
•Voluntary non-concessional contributions
•Certain KiwiSaver and other foreign super fund transfers made after July 1, 2017
Withdrawal process:
1.Request a FHSS determination from the ATO to confirm your maximum releasable amount.
2.Apply for the release of your FHSS amount when you’re ready to buy.
3.Use the released funds toward your home purchase within 12 months.
Important considerations:
•You must request a determination before any property ownership transfers to you.
•You must occupy the property as your home for at least 6 of the first 12 months.
•The scheme cannot be used for investment properties, vacant land alone, houseboats, or motor homes.
•If you don’t use the released funds to buy a home, you must either recontribute the amount to super or pay an additional tax.
Queensland First Home Owner Grant
The Queensland First Home Owner Grant provides a significant financial boost to eligible first-time buyers purchasing or building a new home in Queensland.
Grant amount:
•A $30,000 grant is available for contracts signed between 20 November 2023 and 30 June 2026. For contracts signed after this date, the grant will revert to $15,000.
Eligibility criteria:
•You must be at least 18 years old.
•You must be an Australian citizen or permanent resident.
•You or your spouse must not have previously owned property in Australia.
•You must be buying or building a new home valued under $750,000 (including land).
•You must move into the new home as your principal place of residence within 1 year of the completed transaction and live there for a continuous period of at least 6 months.
Application process:
•You can apply through an approved agent, such as your bank or financial institution, or directly with the Queensland Revenue Office.
First Home Concession (Queensland)
In addition to the First Home Owner Grant, Queensland offers a transfer duty (formerly known as stamp duty) concession for first home buyers.
How it works:
•First home buyers purchasing a home valued under $700,000 pay no Stamp duty.
•Partial concessions apply for homes valued between $700,001 and $799,999.
•The concession applies to both new and established homes.
Eligibility criteria:
•Similar to the First Home Owner Grant requirements.
•You must move into the home within 12 months and live there for at least 6 continuous months.
Help to Buy Scheme
The Help to Buy Scheme is a shared equity scheme from the Australian Government that helps eligible home buyers to purchase a home with a smaller deposit and mortgage.
How it works:
•The government contributes up to 40% of the purchase price for a new home or 30% for an existing home.
•Buyers need a minimum 2% deposit.
•Buyers do not pay rent on the government’s share of the property.
•Income caps and property price thresholds apply.
•Buyers have the option to buy out the government’s share over time.
Status: The Help to Buy Scheme launched on December 5, 2025, and is available to eligible applicants in 2026.
Combining Multiple Schemes for Maximum Benefit
One of the most effective strategies for first home buyers in 2026 is to combine multiple government schemes. This approach can significantly reduce the financial barriers to homeownership. Here are some powerful combinations to consider:
FHSSS + First Home Guarantee
This combination accelerates both your savings and your property purchase. By using the First Home Super Saver Scheme (FHSSS), you can build your deposit within the tax-advantaged environment of your superannuation fund. Once you have saved a 5% deposit, you can apply for the First Home Guarantee to avoid paying Lenders Mortgage Insurance (LMI).
Queensland First Home Owner Grant + First Home Concession + First Home Guarantee
For those buying a new property in Queensland, this trio of schemes offers a substantial advantage. You can receive the $30,000 First Home Owner Grant, pay no transfer duty with the First Home Concession, and purchase with a 5% deposit through the First Home Guarantee. This combination dramatically reduces your upfront costs.
Navigating the complexities of first home buyer schemes and the mortgage application process can be overwhelming. A mortgage broker specializing in first home buyer finance can be an invaluable asset in your journey. Here’s how they can help:
•Scheme Eligibility Assessment: A broker can quickly assess your eligibility for the various government schemes and identify the most beneficial combination for your circumstances.
•Access to Lenders: Not all lenders participate in government schemes. A mortgage broker has access to a wide range of lenders and can connect you with those who are most likely to approve your application.
•Loan Structuring: A broker can structure your loan to maximize the benefits of the schemes you are eligible for, ensuring you meet all requirements and are set up for long-term financial success.
•Application Support: From preparing documentation to liaising with lenders and government agencies, a mortgage broker can manage the entire application process on your behalf, saving you time and reducing stress.
When applying for first home buyer schemes in 2026, you will generally need to provide the following documents:
Identity Documents
•Australian passport or driver’s license
•Medicare card
•Birth certificate
•Proof of Australian citizenship or permanent residency
Financial Documents
•Notice of Assessment from the ATO for the previous financial year
•Recent payslips (typically the last 2-3 months)
•Bank statements showing your savings history
•Evidence of your deposit
•Details of any existing debts or liabilities
Property Documents
•Contract of sale (once you have found a property)
•Building contract (for new constructions)
Statutory Declarations
•A declaration confirming your first home buyer status
•A declaration of your intent to occupy the property as your principal place of residence
•Start Planning Early: Begin saving for your deposit as early as possible. Utilise the FHSSS to accelerate your savings and monitor your credit score regularly.
•Get Pre-Approval: Obtain home loan pre-approval before you start house hunting. This will give you a clear understanding of your borrowing capacity and strengthen your position when making an offer.
•Research Thoroughly: Stay informed about the latest first home buyer schemes and their eligibility criteria. Understand the application timeframes and how you can combine schemes to your advantage.
•Work with Professionals: Engage a mortgage broker who specializes in first home buyer finance. They can provide expert guidance and support throughout the entire process, from application to settlement.
The journey to first home ownership in 2026 is more accessible than ever, thanks to a range of government initiatives designed to lower the financial hurdles for aspiring homeowners. By understanding and strategically combining the available schemes, you can significantly reduce your upfront costs and accelerate your entry into the property market.
As a mortgage broker dedicated to helping first home buyers, I am committed to providing you with a tailored strategy that will turn your dream of homeownership into a reality.