Saving up for a home doesn’t come without it’s challenges, however it’s not all doom and gloom. Thanks to government grants and schemes, Queensland buyers looking to enter the market for the first time can receive a bit of a cash boost.

In this guide, we’ll breakdown all the components of the First Home Owner Grant in Queensland.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

How the First Home Owner Grant works in QLD

The QLD First Home Owner Grant is valued at $15,000 for properties worth less than $750,000.

This money can go a long way towards your first home, but there are conditions to consider.

To be eligible, QLD first home buyers (FHBs) must be buying or building a new house, unit, or townhouse to live in - this includes the value of the land. So, existing dwellings unfortunately won’t qualify for the grant.

However, you may be eligible for the first home owner grant (FHOG) if you buy an established home that’s been substantially renovated. In other words, most (if not all) of the building must be removed or replaced. For example, altering the foundation of the property would count as a substantial renovation while cosmetic renos such as painting the walls would not.

If you’re applying with a partner, it’s not possible for both of you to get $15,000 each as the grant is only available per household.

Can you use the grant for a deposit?

Yes, your first home owner's grant can be used as a deposit, but chances are the one-off $15,000 will not be enough, and you’ll still need several tens of thousands more. Remember, to avoid the high cost of Lenders Mortgage Insurance (LMI), you’ll often need a deposit of at least 20%, and lenders will still want to see that you’ve genuinely saved up for most of the deposit yourself.

Given the grant is actually paid at different times in Queensland, the State Government says “it’s best not to count on using the grant as a deposit.”

First Home Owner Grant eligibility

Besides the $750,000 property price cap, there are a number of eligibility conditions first home buyers in QLD have to meet before they can get the $15,000 grant:

  • Each applicant must be at least 18.

  • You must be a person, not a company or trust

  • At least one applicant must be a permanent resident or Australian citizen.

  • You must not have previously received a First Home Owner Grant in Australia.

  • Neither applicant can have owned a property at any point before 1 July 2000

  • You must move into the new home as your primary place of residence within 12 months of the completed transaction and live there continuously for six months.

  • The home must be ‘new.’

According to the Queensland Government’s eligibility tester, a ‘new home’ is one that has not previously been occupied or sold as a place of residence, or has been ‘substantially renovated’.

Applying for the First Home Owner Grant

To receive the $15,000 grant, you must apply within one year of your title on the home being registered or within one year of the home build’s completion, with extensions available upon request. To submit an application for the Queensland First Home Owners’ Grant, you can do so through either an approved bank or lender or with the Office of State Revenue (by post or email).

Typically, the fastest way to receive the FHOG is applying through an approved agent (e.g. bank) as they will manage your application for you.

Either way, you’ll need to fill out the Queensland Treasury’s First Home Owners' Grant application form PDF and attach the usual supporting documents:

  • 100 points of ID (driver’s license, birth certificate, domestic or foreign passport etc.).

  • Other ID categories, such as your Medicare card and proof of your current address, like a utility bill.

  • A copy of your building contract if you’re buying vacant land.

  • A list of renovations if you’ve bought an existing property and substantially renovated it.

For more information on the QFHOG, check the Queensland Government’s website.

Keep in mind that there are penalties for giving false or misleading information.

Can first home buyers get stamp duty discounts in Queensland?

Stamp duty is one of the most expensive upfront costs when buying a property, easily costing five figures in many cases. But fortunately for Queensland FHBs, the Queensland FHOG can also make stamp duty more affordable.

See Also: What are the state-by-state costs for stamp duty?

QLD stamp duty concessions for first home buyers

Queensland FHBs are exempt from stamp duty for homes valued under $550,000 and vacant land under $400,000. On a case-by-case basis, it’s also possible to waive your stamp duty costs if the property is above these amounts.

There is also a home concession that applies to non-first home buyers too. Under the home concession, Queenslanders can claim concessions on the first $350,000 of the property’s value as long as they live in the home daily for the first year after settlement. The discount you can get here varies.

See Also: State-by-state breakdown of stamp duty concessions and exemptions

Can you use both of these schemes?

Yes, FHBs in Queensland can use both the first home owner grant and the stamp duty concessions together. The criteria to qualify for both are similar, and this can lead to even bigger discounts.

What other QLD schemes and grants can first home buyers use?

The Family Home Guarantee

The Family Home Guarantee allows 5,000 single parents (every financial year) to secure a home loan with as little as a 2% deposit without having to pay LMI. It was introduced in the 2021/22 Federal Budget.

This scheme is available to previous owner-occupiers as well as first home buyers; has a maximum annual income cap of $125,000; must be for principal & interest (P&I) repayments, and for loans no longer than 30 years.  

Regional First Home Guarantee

The Regional First Home Buyer Guarantee Scheme is identical to the First Home Guarantee, except it is designed to target first home buyers in regional Australia.

With the Regional First Home Guarantee, 10,000 guarantees each year will help first-home buyers purchase a regional home with as little as 5% loan deposit without having to pay LMI. This means you can borrow up to 95% of the property value, with the federal government providing the lender with a guarantee of 15%.

The First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSSS) can help you save up a deposit quicker by taking advantage of the tax discounts that superannuation can offer. Essentially the scheme allows first home savers to salary sacrifice up to $15,000 of their wages per year towards the FHSSS (taking advantage of a discounted tax rate of 15%) where the funds will earn a deemed rate of return. When ready to buy a house, a maximum of $50,000 can be released from the scheme - along with the earnings - for use as a deposit.

If you’re not sure how you can find the right property to take advantage of all these schemes, try consulting someone like a mortgage broker or buyer’s agent, or get in touch with a home loan specialist at your lender of choice. These experts can help guide you through the process.

Photo via Brisbane City Council, Flickr

Ready, Set, Buy!

Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy