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First Home Vacant Land Concesssion
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Build your first home with QLD's Vacant Land Concession.
The First Home Guarantee makes it easier for eligible buyers to step into a new home with a smaller deposit. With as little as 5% deposit, you can secure your home without paying Lenders Mortgage Insurance, as the Australian Government provides your lender with a guarantee of up to 15% of the property’s value. For single parents and single legal guardians, a Family Home Guarantee option may allow you to buy with just a 2% deposit.
From 1 October 2025, the Scheme was expanded to give first home buyers even greater opportunities. There are now no income caps, no limit on the number of places available, and property price caps have been lifted across the country. In Queensland, the cap for Brisbane, Gold Coast and Sunshine Coast has increased from $700,000 to $1,000,000, making it easier for more people to find a home in these popular areas. Applications are made through Participating Lenders only.*
To learn more about eligibility, property price caps and how to apply, please visit the official Australian Government website.
Build your first home with QLD's Vacant Land Concession.
Administered by the federal government, the First Home Guarantee Scheme is designed to break down barriers to homeownership for first-home buyers by enabling them to purchase their first home with just a 5% deposit, and also, without having to pay Lenders’ Mortgage Insurance (LMI).
LMI is usually applicable when borrowing more than 80% of the property value (i.e., borrowing with less than 20% deposit) and is calculated as a percentage of the loan and varies depending on the total amount of the loan and the Loan to Value Ratio (LVR).
However, with the First Home Guarantee Scheme, the Government acts as a guarantor so that you don’t have to pay LMI.
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No. The Guarantee is not a cash payment or grant. It is a government-backed guarantee that allows you to buy with a smaller deposit and avoid Lenders Mortgage Insurance.
Most first home buyers need a minimum 5% deposit under the First Home Guarantee. Single parents and single legal guardians may qualify for a 2% deposit option under the Family Home Guarantee.
From 1 October 2025, the cap for Brisbane, Gold Coast and Sunshine Coast is $1,000,000, while the cap for other areas of Queensland is $700,000. Property price caps are set by Housing Australia and may be reviewed periodically. Always confirm the cap for your specific area with your lender or mortgage broker before signing a contract, as postcode classifications can vary within regions.
Yes. If you meet the eligibility rules for both, you can use the Queensland First Home Owner Grant together with the First Home Guarantee. You may also be able to combine these with the Queensland stamp duty concession for new builds, potentially reducing your upfront costs significantly. Speak to a participating lender or mortgage broker to confirm which schemes apply to your situation.
Applications are made through Participating Lenders only. You can speak directly with your bank or a mortgage broker who works with a Participating Lender.
For further details on the First Home Guarantee Scheme, please visit the official Housing Australia website.
*The information on this website regarding first home buyer grants and schemes provided by Hallmark Homes is for general information purposes only. It is not financial advice. Consult with qualified financial advisors for personalised guidance.
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