In short: Australian first home buyers may be able to use four kinds of help: the First Home Owner Grant (a cash grant, usually for new builds), the First Home Guarantee (buy with a low deposit, no LMI), stamp duty concessions (state-based), and the First Home Super Saver Scheme (save your deposit inside super). Eligibility and amounts vary by state and change over time — always check the official source.
There’s real money on the table for first home buyers — but it’s spread across federal and state schemes with different rules. Here’s what each one does.
First Home Owner Grant (FHOG)
A one-off cash grant for eligible first home buyers, in most states aimed at buying or building a new home up to a value cap. Amounts and caps are set by each state and territory. Check your state or territory’s revenue office for the current amount and value cap.
We often speak with first home buyers who have already factored the First Home Owner Grant into their plans, but have not checked whether the property they want actually qualifies. In Victoria, the FHOG is currently aimed at eligible new homes up to the set value cap, so it may not apply to an established unit, townhouse, or house. This is why we always check the grant rules early with buyers — not after they have already started making offers — so their deposit, lender choice, and settlement costs are based on the real numbers.
First Home Guarantee
A federal scheme that lets eligible first home buyers purchase with a smaller deposit and without paying LMI, because the government guarantees part of the loan. Places are limited and income/price caps apply. Current details are at Housing Australia.
Stamp duty concessions
Stamp duty is often one of the biggest upfront costs — and many states give first home buyers a full exemption below one price threshold and a reducing concession up to a higher one. It’s entirely state-based, so check your own state or territory’s revenue office for current thresholds. We include it in the upfront cost of buying a first home.
First Home Super Saver Scheme (FHSSS)
A federal scheme that lets you make extra contributions into your super and later withdraw them (plus earnings) toward a first home deposit, with potential tax benefits. It’s run by the ATO — see the ATO First Home Super Saver page.
A lot of the first home buyers who come to us are not trying to “game the system” — they are simply trying to work out if they can buy sooner without waiting years to save a full 20% deposit. In our experience, roughly 30–35% of first home buyer enquiries involve someone asking whether the First Home Guarantee could help them avoid or reduce LMI. That is why we look at the scheme early in the conversation, before a buyer assumes they are not ready or starts making offers based on the wrong deposit numbers.
Not sure which you qualify for? A broker checks all of them against your situation. For the full path, see our first home buyer guide, and work out how much deposit you need alongside the schemes.
Talk to a broker before you commit
Every first home is different. A licensed mortgage broker can compare 50+ lenders, check which grants and schemes you qualify for, and tell you what you can realistically borrow — free, and with no obligation.
Frequently asked questions
What grants can first home buyers get in Australia?
Depending on eligibility: the First Home Owner Grant, the First Home Guarantee, state stamp duty concessions, and the First Home Super Saver Scheme. Rules vary by state and change over time.
Is the First Home Owner Grant only for new homes?
In most states it’s aimed at buying or building a new home up to a value cap, but rules differ by state — check your state revenue office for current eligibility.
What is the First Home Guarantee?
A federal scheme that lets eligible first home buyers purchase with a smaller deposit and no LMI, because the government guarantees part of the loan. Places are limited.
General information only — this article is not financial or credit advice and doesn’t account for your personal situation. Best Brokers Melbourne is a referral service, not a licensed credit provider; we connect you with a licensed mortgage broker. Grant amounts, thresholds and scheme rules change and vary by state — always confirm current details with the official source linked, or a licensed broker, before acting.