FIRST HOME OWNER GRANT
First Home Owner Grant (FHOG)
The First Home Owner Grant is a one-off payment from the government to help first home buyers purchase or build a new home. In Queensland, the grant is currently $30,000 for new homes. You must be an Australian citizen or permanent resident, at least 18 years old, and not have previously owned property in Australia.
Key eligibility points
- Australian citizen or permanent resident
- At least 18 years of age
- Purchasing or building a new home (not an established property)
- Property must be your principal place of residence for at least 1 year
- Have not previously owned property in Australia
- Purchase price must be within applicable thresholds
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FIRST HOME GUARANTEE
First Home Guarantee
The First Home Guarantee (formerly the First Home Loan Deposit Scheme) allows eligible first home buyers to purchase a home with as little as a 5% deposit — without paying Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property value. There are income caps and property price caps that vary by location.
Key eligibility points
- Australian citizen or permanent resident aged 18 or over
- First home buyer — have not previously owned property in Australia
- Minimum 5% genuine savings deposit
- Income cap: $125,000 for individuals; $200,000 for couples
- Property price must be within regional price caps
- Must occupy the property as your principal place of residence
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FAMILY HOME GUARANTEE
Family Home Guarantee
The Family Home Guarantee is designed for single parents with dependents. It allows eligible single parents to purchase a home with as little as a 2% deposit, without paying LMI. The government guarantees up to 18% of the property value. This scheme recognises the financial pressures facing single-parent households trying to enter the property market.
Key eligibility points
- Australian citizen aged 18 or over
- Single parent or single legal guardian with at least one dependent child
- Minimum 2% genuine savings deposit
- Income cap: $125,000 for the single applicant
- Does not need to be a first home buyer — previous homeowners may be eligible
- Property price must be within regional price caps
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REGIONAL FIRST HOME BUYER GUARANTEE
Regional First Home Buyer Guarantee
This scheme supports first home buyers purchasing in regional areas. Similar to the First Home Guarantee, it allows purchase with a 5% deposit without LMI, but is specifically targeted at regional locations. It's designed to help buyers access more affordable markets outside capital cities.
Key eligibility points
- Australian citizen or permanent resident aged 18 or over
- First home buyer purchasing in a regional location
- Must have lived in the regional area or adjacent area for 12 months prior
- Minimum 5% genuine savings deposit
- Income cap: $125,000 for individuals; $200,000 for couples
- Property price must be within regional price caps
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