Top tips to access first home buyer support in Brisbane

What Queensland first home buyers can access right now

Queensland first home buyers can claim a $15,000 grant for new homes valued under $750,000, full stamp duty exemption on new builds with no price cap, and stamp duty concessions on established homes up to $800,000. The Australian Government 5% Deposit Scheme lets eligible buyers purchase with a 5% deposit and no lenders mortgage insurance up to $1,000,000 in Brisbane, and these schemes can be combined.

Consider a buyer purchasing a new townhouse in Logan for $650,000. They access the $15,000 First Home Owner Grant, pay no transfer duty, and use the 5% Deposit Scheme to borrow with a $32,500 deposit. The grant covers roughly half the deposit, reducing how much they need in genuine savings. That combination works because both schemes serve different purposes and neither blocks the other.

How the Queensland First Home Owner Grant changed from July 2026

The Queensland First Home Owner Grant dropped from $30,000 to $15,000 for contracts signed from 1 July 2026. Buyers who exchanged contracts before that date still receive the higher amount, even if they settle later. All other eligibility requirements remain the same, including the $750,000 property value cap and the requirement that the home must be new or substantially renovated.

If you started the purchase process in late June but had not yet exchanged, the timing matters. A buyer who exchanged on 29 June receives $30,000. A buyer who exchanged on 2 July receives $15,000. Settlement dates do not affect the grant amount, only the contract date.

Stamp duty concessions on established homes in Brisbane

Queensland offers full transfer duty exemption on established homes valued up to $700,000 and a sliding concession on homes between $700,000 and $800,000. Above $800,000, standard transfer duty applies. These concessions apply to first home buyers purchasing a property they intend to occupy as their principal place of residence.

A buyer purchasing an established home in Calamvale for $720,000 would pay reduced transfer duty under the concession rather than the full rate. A buyer purchasing in New Farm at $950,000 would pay standard transfer duty with no concession. The concession scales down as the purchase price increases between the two thresholds.

Using the 5% Deposit Scheme without lenders mortgage insurance

The Australian Government 5% Deposit Scheme removes the need for lenders mortgage insurance on purchases up to $1,000,000 in Brisbane when you borrow with a 5% deposit. Housing Australia guarantees the gap between your deposit and 20% equity, which means the lender does not require you to pay LMI. Applications are made through one of 31 participating lenders, not directly through Housing Australia.

No income cap applies under this scheme. A single buyer earning $75,000 and a couple earning $180,000 can both apply, provided they meet standard lending criteria with their chosen lender. Each lender assesses your application based on their own serviceability rules, so the scheme does not override a lender's responsibility to lend responsibly. It simply removes the LMI cost and allows you to proceed with a smaller deposit.

What Help to Buy offers and where it fits

Help to Buy allows the Australian Government to contribute up to 40% of the purchase price for a new home or up to 30% for an established home in exchange for an equivalent equity stake. You contribute a minimum 2% deposit and borrow the remainder. Income limits apply: $100,000 for individuals and $160,000 for joint applicants or single parents. Property price caps vary depending on the location and property type.

You cannot combine Help to Buy with the 5% Deposit Scheme, but you can use it alongside Queensland's stamp duty concessions and the First Home Owner Grant where applicable. If you purchase a new home under Help to Buy, you may still claim the $15,000 grant and the transfer duty exemption, reducing your upfront costs further. The government's equity share means you own less of the property initially, but it also reduces the loan amount and the deposit required.

When gifted deposits and genuine savings come into play

Most lenders require a portion of your deposit to come from genuine savings, meaning funds you have accumulated over at least three months in your own account. Some lenders accept gifted funds from immediate family for part or all of the deposit, but policies vary. If you are using the 5% Deposit Scheme, the smaller deposit makes it more achievable to meet the genuine savings requirement, but you still need to demonstrate that you can manage repayments.

A buyer using a $10,000 gift from parents and $25,000 in genuine savings to reach a 5% deposit on a $700,000 home in Underwood would need their lender to accept gifted funds. Not all lenders treat gifts the same way. Some require a signed declaration, others may reduce how much they will lend if the majority of your deposit is gifted. Discussing your deposit source during pre-approval removes uncertainty before you start looking.

Offset accounts and why they matter from day one

An offset account is a transaction account linked to your home loan where the balance reduces the interest charged on your loan without affecting your access to those funds. If you have $20,000 in your offset and owe $500,000, you only pay interest on $480,000. Every dollar in the offset works as hard as a dollar in loan repayments, but you can still withdraw it if needed.

For first home buyers in Brisbane who have used most of their savings for the deposit, rebuilding a buffer in an offset account provides flexibility without locking funds into the loan via extra repayments. Not all lenders offer offset accounts on every loan product, and some charge a higher interest rate or annual fee for access. Weighing that cost against the interest saved depends on how much you expect to hold in the account consistently.

Fixed versus variable rates and why you can split

A fixed interest rate locks your rate for a set period, usually between one and five years, protecting you from rate rises but also preventing you from benefiting if rates fall. A variable interest rate moves with the market, giving you access to features like offset accounts and unlimited extra repayments but exposing you to rate increases. Splitting your loan lets you fix part and keep part variable, balancing certainty with flexibility.

A buyer borrowing $600,000 might fix $400,000 for three years and leave $200,000 variable with an offset account attached. If rates rise, two-thirds of their loan is protected. If rates fall or they receive a windfall, they can pay down the variable portion without break costs. The split ratio depends on your income stability, risk tolerance, and how much you value access to features during the fixed period.

Where to go once you know what you can access

Once you understand which grants, concessions, and deposit schemes apply to your situation, the next step is confirming your borrowing capacity and identifying which lenders offer the features and schemes you need. Not every lender participates in the 5% Deposit Scheme, and not every lender offers offset accounts or accepts gifted deposits on the same terms. Matching your circumstances to the right lender makes the difference between approval and rejection.

Call one of our team or book an appointment at a time that works for you. We will walk through your deposit, income, and property goals, confirm which schemes you qualify for, and connect you with lenders who fit your situation. Getting that structure right early means fewer surprises and more clarity as you move forward.

Frequently Asked Questions