First Home Buyer Loans and Grants in Queensland

What grants and schemes can first home buyers get in Queensland?

You may be eligible for help such as the $30,000 Queensland First Home Owner Grant for new homes, stamp duty concessions and the federal 5% Deposit Scheme (previously the Home Guarantee Scheme), which lets eligible buyers purchase with a smaller deposit and no lenders mortgage insurance. Eligibility depends on things like whether you're an Australian citizen or permanent resident, the type and price of the property and whether you'll live in it.

Read our full guide to first home buyer grants and concessions in Queensland or take the Queensland Government eligibility quiz, then talk to us about how it applies to you.

Saving for a deposit

The sooner you start saving, the easier it is to build the habit. Make an honest list of your living expenses and decide where you can cut back. Once you know how much you can save, set up an automatic transfer from your pay into a separate savings account without card access.

Read our guide to how much deposit you really need and try the stamp duty calculator.

Pre-approval

Pre-approval gives you a clear price range and lets you move quickly when you find the right property. It may also put you in a stronger position with sellers. Even with pre-approval, a subject to finance clause is an important protection in any contract. Learn more about home loan pre-approval.

Lenders mortgage insurance

If you borrow more than 80% of the property's value, most lenders charge lenders mortgage insurance (LMI). A 20% deposit avoids it, and some schemes or a family guarantee can too. For some buyers, paying LMI to buy sooner makes sense. The key is whether your income can comfortably support the repayments. We can estimate LMI for you before you decide on your deposit.

Our First Home Buyers Guide

Our guide walks you through buying property in Australia, step by step. Download the guide. If your parents want to help, see our guide for guarantors.

Get in touch

Fill in your details below to see how we can help you buy your first home.

If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. Our Privacy Policy explains how you can access your personal information, request corrections or lodge a complaint.

Frequently asked questions