What is first home buyer schemes?
Australian first home buyers can stack up to four concessions: the federal Home Guarantee Scheme (no LMI), the state First Home Owner Grant (cash), state stamp-duty exemption, and shared-equity Help to Buy — collectively saving $30,000-$80,000+ at settlement.
Australian first home buyers can stack multiple concessions across federal and state schemes. The four major ones in 2025-26 are: (1) Federal Home Guarantee Scheme — 5% deposit, no LMI; (2) State First Home Owner Grant (FHOG) — $10,000-$30,000 cash, new builds only; (3) State stamp-duty exemption or concession — saves $15,000-$40,000 depending on state and price; (4) Help to Buy — federal shared-equity scheme, up to 40% Government contribution.
The combined impact on a $700,000 first home purchase in NSW: $0 LMI (saved $15-20K via HGS) + $10,000 FHOG (if new build) + $0 stamp duty (under $800K cap) + standard 5% deposit ($35K) = a buyer with $40K cash can settle a $700K home. The same buyer without any scheme would need $140K+ cash on a 20% deposit + stamp duty.
Eligibility caps differ by state and reset each financial year. Most schemes require Australian citizenship or permanent residency, owner-occupier intent, and income limits ($125-200K single, $200-300K couple depending on scheme). The HGS in particular has a finite number of places each year — apply early in July when caps reset.
FHB grants · first home buyer concessions · first home buyer schemes
- First Home Owner Grant (FHOG) — The FHOG is a one-off state-government grant for first home buyers buying or building a new (never-occupied) home, typic…
- Home Guarantee Scheme (HGS) — The HGS is a federal scheme where the Government guarantees up to 15% of an eligible buyer's loan, letting them buy with…
- Stamp duty (transfer duty) — Stamp duty is a state government tax on property transfers, typically 3-5.5% of the purchase price, paid in full at sett…
- Lenders Mortgage Insurance (LMI) — LMI is a one-off premium that protects the lender (not the borrower) when the LVR is above 80%; typical cost on a $500,0…
General information only — not personal financial advice. Verified against https://ratesniffers.com.au/glossary on 2026-06-01.