Buying your first home in Australia in 2026? You could be leaving tens of thousands of dollars on the table if you don't know what grants and schemes you're eligible for. The problem is, every state has different rules, different amounts, and different eligibility criteria — and nobody puts it all in one place.
Until now. Here's the complete breakdown of every first home buyer grant and scheme available across Australia in 2026.
First Home Owner Grant (FHOG) — State by State
The First Home Owner Grant is a one-off payment from the government to help first home buyers purchase a new home. The key word is new — in most states, established homes don't qualify for the FHOG. The amount and price cap vary significantly by state.
| State | Grant Amount | Price Cap | Property Type |
|---|---|---|---|
| NSW | $10,000 | $600,000 | New only |
| VIC | $10,000 | $750,000 | New only |
| QLD | $30,000 | $750,000 | New only |
| WA | $10,000 | $750,000 | New only |
| SA | $15,000 | $650,000 | New only |
| TAS | $30,000 | $600,000 | New only |
| ACT | $7,000 | $750,000 | New only |
| NT | $10,000 | $750,000 | New only |
Queensland and Tasmania stand out with the most generous grants at $30,000 each. If you're buying a new build in either of those states, that's a significant chunk of your upfront costs covered.
Stamp Duty Concessions for First Home Buyers
Even if you're buying an established home and don't qualify for the FHOG, you may still get a stamp duty exemption or concession. This is often worth more than the FHOG itself.
Each state sets a price threshold below which first home buyers pay zero stamp duty:
- NSW: Full exemption up to $800,000, partial concession up to $1,000,000
- VIC: Full exemption up to $600,000, partial concession up to $750,000
- QLD: Full exemption up to $500,000, partial concession up to $550,000
- WA: Full exemption up to $430,000 (established) or $750,000 (new builds)
- SA: Full exemption up to $650,000
- TAS: Full exemption up to $400,000
- ACT: Full exemption up to $1,000,000
- NT: Full exemption up to $650,000
On a $650,000 property in NSW, this exemption saves you roughly $24,000. In the ACT, it could save even more. These are real savings that directly reduce how much cash you need on settlement day.
First Home Guarantee (formerly First Home Loan Deposit Scheme)
The First Home Guarantee is a federal government scheme that lets eligible first home buyers purchase with just a 5% deposit and no Lenders Mortgage Insurance (LMI). The government guarantees the remaining 15% — meaning the bank treats it as a 20% deposit.
As of 2026, the scheme has no income limits and no place caps. Eligibility is based on having a 5% genuine savings deposit and purchasing within location-specific property price caps (for example, $1,500,000 in Sydney or $950,000 in Melbourne).
This can save you $15,000–$40,000 in LMI alone, and it lets you get into the market years earlier than saving a full 20% deposit.
WA Keystart — The Scheme Nobody Talks About
If you're buying in Western Australia, the Keystart Home Loan is one of the best-kept secrets in Australian property. Keystart is a government-backed lender that offers home loans with as little as a 2% deposit and no LMI.
There are income caps (currently around $105,000 for singles or $150,000 for couples) and property price limits, but if you qualify, it's an incredible way to get into the market with minimal upfront costs. Keystart loans can later be refinanced to a mainstream lender once you've built enough equity.
Help to Buy Scheme
The federal government's Help to Buy shared equity scheme allows eligible buyers to purchase a home with the government contributing up to 40% of the purchase price for new homes or 30% for existing homes. You only need a 2% deposit, and you don't pay rent on the government's share.
Income caps apply ($90,000 for singles, $120,000 for couples), and property price caps are set by location. When you sell or your income rises, you buy back the government's share at current market value.
How to figure out what you're eligible for
The fastest way is to use NestPath's free calculator. Enter your state, property type, and whether you're a first home buyer — and we'll show you exactly which grants, concessions, and schemes apply to your situation, with the dollar amounts calculated automatically.
Frequently Asked Questions
How much does a credit card reduce my borrowing power?
Lenders count the full credit limit as a potential debt — even if you never use it. A $10,000 credit card limit can reduce your borrowing power by $40,000-$60,000. Cancel or reduce unused cards before applying for a home loan.
Should I close credit cards before applying for a home loan?
Yes — close or reduce the limit on any credit cards you don't need. Even a $5,000 card with a zero balance reduces your borrowing power because lenders assume you could max it out at any time.
Does buy now pay later affect my home loan application?
Yes. Lenders increasingly treat buy now pay later accounts as liabilities. Active Afterpay, Zip, or similar accounts can reduce your borrowing power and may raise red flags during assessment. Close them well before applying.
