The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner. If your contract is dated 1 July 2018 or later, you can get the Queensland grant of $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). This guide explains how and when to apply for the first home owner grant, the documents you need to include when applying and your obligations after receiving the grant.
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme, an Australian Government initiative to support eligible first home buyers purchase a home sooner.
It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.
Under the FHBG, part of an eligible first home buyer’s home loan from a Participating Lender is guaranteed by NHFIC. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
Any guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by your lender). This guarantee is not a cash payment or a deposit for a home loan.
Under the FHBG, 35,000 places are available to eligible first home buyers from 1 July 2022 – 30 June 2023.