First Home Buyer Support: What to Check in 2026

Check the current federal scheme

The Australian Government 5% Deposit Scheme expanded on 1 October 2025 with unlimited places and no income cap. Eligible first home buyers may purchase with a 5% deposit without lenders mortgage insurance under the scheme. Property price caps, eligibility and lender assessment still apply; approval is not automatic.

Separate grants from duty concessions

A cash grant and a transfer-duty concession are different benefits. Queensland continues a $30,000 first home owner grant for qualifying new-home contracts from 1 July 2026; the total home and land value must be below $750,000 and other conditions apply. Established homes do not qualify for that grant.

Check the transaction date

State and territory concessions can depend on contract date, property type, residence obligations and buyer status. Do not assume a first-home label creates a full exemption. Use the official revenue authority and a conveyancer to confirm the transaction.

Budget beyond the deposit

Plan separately for duty where payable, conveyancing, inspections, registration, lender charges and moving costs. Obtain quotes. A government guarantee does not remove the obligation to repay the loan, and a smaller deposit can increase the amount borrowed.

Treat borrowing capacity as an estimate

Income, spending, debts and lender policies affect serviceability. APRA maintains a 3 percentage-point mortgage serviceability buffer for regulated banks. A general calculator does not guarantee approval or identify a suitable loan.

Official sources

Australian Government scheme information, Queensland grant and the calculator. General education only; check current terms and seek licensed assistance for a lending decision.