Category: Property Finance

This article was last updated in October 2025 and all information is accurate as of this time.

Buying Your First Home in Tasmania

Buying your first home is an exciting milestone, but it can also feel daunting — especially when you’re trying to save a deposit and navigate the different government incentives available. Thankfully, the TAS First Home Buyers Grant gives first-time buyers a valuable head start.

Whether you’re building a new home near Hobart, buying off the plan in Launceston, or constructing a property in regional Tasmania, the grant can make your first step into the property market more achievable.

At QPF Finance, our mortgage brokers help first home buyers across Tasmania compare lenders, manage grant applications, and secure competitive finance tailored to their goals — so you can focus on finding your perfect home with confidence.

What Is the First Home Buyers Grant (TAS)?

The Tasmanian First Home Owner Grant is one of the most generous in Australia, offering $30,000 to eligible first home buyers who purchase or build a new residential property.

You may qualify if you’re:

• Building a new home under a construction contract

• Buying a new home or unit that’s never been lived in or sold

• Purchasing off the plan from a registered developer

The grant can be used toward your deposit or upfront costs, making it easier to buy or build your first home sooner.

Unlike some states, Tasmania does not apply a property value cap, as long as the property meets the “new home” definition.

Example: If you’re building a new home in Launceston or purchasing a newly completed townhouse in Hobart, you may be eligible for the full $30,000 grant to reduce your upfront costs or boost your deposit.

You can view full eligibility criteria and conditions on the State Revenue Office Tasmania website.

Who Is Eligible for the TAS First Home Buyers Grant?

To qualify for the First Home Owner Grant in Tasmania, applicants must meet specific personal, property, and residency criteria. These conditions are designed to ensure the grant supports genuine first-time buyers purchasing or building new homes.

Personal Eligibility

• You must be at least 18 years old.

• You must be an Australian citizen or permanent resident, or applying jointly with one.

• You and your spouse or partner must not have owned or occupied a residential property in Australia before.

• The grant can only be received once per person or couple.

Property Requirements

• The property must be a new residential home, meaning it has never been lived in, rented, or sold.

• Eligible homes include:

  • Newly built homes purchased from a builder or developer

  • Off-the-plan apartments or townhouses

  • Homes built under a construction contract or by an owner-builder

• The home must be located within Tasmania.

• There is no maximum property value cap, provided the property meets all other eligibility conditions.

Occupancy Rules

You must live in the property as your principal place of residence for at least six continuous months, starting within 12 months of completion or settlement.

If you’re building, this period begins once construction is finished and you’ve moved in.

Tip: A QPF mortgage broker can help confirm your eligibility and manage your grant application as part of your home loan approval — saving you time and ensuring everything’s submitted correctly.

Property Value Limits and Eligible Homes

The Tasmanian First Home Owner Grant (FHOG) applies only to new residential properties, ensuring the grant supports new housing supply and genuine first-time buyers entering the market.
Unlike most other states, Tasmania does not set a maximum property value cap — giving first home buyers greater flexibility in where and what they buy.

Eligible Property Types

You may qualify for the grant if you are:

• Building a new home under a building contract or as an owner-builder

• Buying a newly constructed home that has never been lived in or sold

• Purchasing off the plan, where construction is new or still in progress

• Buying a house-and-land package where both are completed as part of the same transaction

All properties must meet Tasmania’s definition of a “new home”, meaning the home:

• Has never been previously occupied or used for short-term accommodation

• Has not been sold or transferred since construction was completed

Ineligible Properties

You won’t be eligible for the grant if you’re:

• Buying an existing or previously occupied home

• Purchasing a holiday house or investment property

• Buying vacant land without an attached building contract

Example: If you buy a brand-new home in Hobart for $700,000 or build a house in Devonport for $550,000, you may be eligible for the full $30,000 grant — provided the property meets the “new home” definition.

How to Apply for the TAS First Home Buyers Grant

Applying for the First Home Owner Grant in Tasmania is simple — and most buyers choose to apply through their lender or mortgage broker so it can be processed at the same time as their home loan.

Here’s how the process works:

1. Confirm Your Eligibility

Make sure you meet the personal, property, and occupancy requirements before applying. Your broker can confirm this and check the fine print for you.

2. Gather the Required Documents

You’ll need:

• Proof of identity (e.g. driver’s licence or passport)

• A copy of your building or purchase contract

• Evidence of completion or settlement

• Bank account details for the grant payment

3. Submit Your Application

You can apply in one of two ways:

• Through your lender or mortgage broker – Recommended, as it’s faster and handled alongside your loan approval.

• Directly to the State Revenue Office (SRO) – Use the First Home Owner Grant application form and upload your supporting documents online.

4. Receive Your Grant

Once approved, the grant is paid directly to your lender at settlement (for new homes) or to you once construction is complete (for owner-builders).

5. Move In and Meet Occupancy Rules

You must move into your home within 12 months of completion or settlement and live there continuously for at least six months.

Tip: A QPF mortgage broker can manage your grant submission alongside your loan application, ensuring everything is approved and processed on time — so you can focus on your move.

Other Government Assistance for First Home Buyers in Tasmania

Alongside the Tasmanian First Home Buyers Grant, several national programs can help you buy your first home sooner or reduce upfront costs:

• Home Guarantee Scheme (HGS) – Allows eligible first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI). Limited places are available each financial year.
• First Home Super Saver Scheme (FHSSS) – Lets you save for your first home inside your super, taking advantage of lower tax rates and the ability to withdraw up to $50,000 for your deposit.
• Help to Buy (Coming Soon) – A shared-equity scheme launching in 2026, where the Australian Government will co-invest in your property, reducing the deposit and loan size required.

Tip: A QPF Finance mortgage broker can help combine these schemes with the Tasmanian FHOG to maximise your savings and simplify the application process.

Why Use a Mortgage Broker (QPF Finance)

Buying your first home in Tasmania is exciting — but it can also feel overwhelming when you’re comparing lenders, completing paperwork, and trying to understand all the available grants and schemes. That’s where a QPF Finance mortgage broker can make the process easier.

Our brokers work with first home buyers across Hobart, Launceston, and regional Tasmania, helping you:

• Compare home loans from 50+ trusted lenders

• Handle your First Home Buyers Grant application and documentation

• Check eligibility for federal programs like the Home Guarantee or Super Saver Scheme

• Guide you from pre-approval to settlement, ensuring every step runs smoothly

• And our insurance team can help organise Home & Contents Insurance at the same time!*

Unlike going directly to one bank, a broker gives you access to a wider range of options — helping you secure a competitive home loan that fits your goals and budget.

With the right broker by your side, buying your first home in Tasmania can be simpler, faster, and more affordable.

👉 Speak with a QPF broker today to find out how much you can borrow and take advantage of the Tasmanian First Home Buyers Grant in 2025.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details

This article was last updated in October 2025 and all information is accurate as of this time.

Buying Your First Home in Victoria

Buying your first home is a major milestone, and for many Victorians, it’s one that feels increasingly out of reach especially in Melbourne’s competitive property market. Between rising prices, saving a deposit, and navigating the many incentives available, it can be hard to know where to begin.

That’s where the VIC First Home Buyers Grant (FHOG) comes in. This government initiative provides eligible first home buyers with a financial boost to help them purchase or build a brand-new home, making it easier to take that important first step onto the property ladder.

Whether you’re building in Ballarat, buying off-the-plan in Geelong, or settling in a new Melbourne development, understanding how the grant works and how it fits with your broader loan strategy can make the process smoother and more affordable.

At QPF Finance, our mortgage brokers work with first home buyers across Victoria to help secure finance, handle grant applications, and compare lenders, so you can move into your new home with confidence.

What Is the First Home Buyers Grant (VIC)?

The First Home Buyers Grant in Victoria is a $10,000 payment from the State Government designed to help first home buyers purchase or build a new residential property.

It applies to homes valued up to $750,000, including:

• Newly built homes (never previously lived in or sold)

• Off-the-plan apartments or townhouses

• Owner-builder projects, once construction is complete

This grant is available across both metropolitan and regional Victoria, helping first home buyers enter the market in a range of locations from city apartments to regional house-and-land packages.

Example: If you purchase a new townhouse in Geelong for $710,000, you could be eligible for the $10,000 grant, which can go toward your deposit or other upfront costs.

The grant only applies to new or substantially renovated properties, not existing homes or investment properties.

You can find full details on the State Revenue Office Victoria website, but below we’ll outline who’s eligible and how to apply.

Who Is Eligible for the VIC First Home Buyers Grant?

To qualify for the First Home Buyers Grant in Victoria, applicants must meet certain personal and property criteria.
Here’s a simple breakdown of what’s required:

Personal Eligibility

• You must be at least 18 years old.

• You must be an Australian citizen or permanent resident (or applying jointly with one).

• You and your partner must note have:
  • Owned a home in Australia before 1 July 2000
  • Owned a home in Australia after 1 July 2000 and occupied that home continuously for more than 6 months.

• You can only receive the grant once — it’s designed for genuine first-time buyers.

Property Requirements

• The home must be brand new, which includes:

  • Newly built homes that have never been lived in or sold

  • Off-the-plan apartments or townhouses

  • Homes built under a building contract

  • Owner-builder constructions, after receiving the Certificate of Occupancy

• The property must be located in Victoria and valued at $750,000 or less, including land and construction.

Occupancy Requirements

Victoria’s rules differ slightly from most other states.

• You must move into the home within 12 months of settlement or completion, and

• You must live there continuously for at least 12 months as your main residence.

This longer occupancy period is unique to Victoria and ensures the grant is used to help genuine owner-occupiers.

Tip: If you’re unsure whether your property qualifies as “new,” your broker can check with your builder or conveyancer before applying, saving time and potential delays later.

Property Value Limits and Eligible Homes

The Victorian First Home Buyers Grant applies to new residential properties valued at $750,000 or less, including both land and construction. This means if you’re buying a house-and-land package, the combined cost of the land and build must stay under that threshold.

The property must also meet the state’s definition of “new.” This includes:

• Homes that have never been occupied, rented, or sold

• Off-the-plan purchases where construction is still underway or recently completed

• Substantially renovated properties, where most of the building has been replaced (as certified by the SRO)

• Owner-built homes, once completed and approved for occupancy

The grant does not apply to:

• Established homes (even if recently renovated)

• Investment or holiday properties

• Vacant land without a construction contract

Example: If you buy a brand-new apartment in Melbourne’s west for $720,000 or build a new home in Ballarat for $680,000, you may be eligible for the full $10,000 grant to put toward your purchase or construction costs.

How to Apply for the First Home Buyers Grant in VIC

Applying for the First Home Owner Grant (FHOG) in Victoria is straightforward once you know what to expect. You can apply either through your lender or directly to the State Revenue Office (SRO) but most buyers choose to go through their mortgage broker, as it keeps the process simple and aligns with your loan application.

Here’s how it works:

1. Confirm Eligibility
   Review the criteria (citizenship, property type, and value limit) and make sure your new home qualifies before you sign contracts.

2. Prepare Your Documents
   You’ll need proof of identity, the home-building or purchase contract, and evidence that construction has finished or settlement has occurred.

3. Submit Your Application

   • If you’re applying through a broker or lender, they’ll lodge the FHOG application on your behalf with your loan documents.

   • If you’re applying directly, complete the SRO VIC FHOG form and upload the required documentation online.

4. Wait for Assessment and Payment
   Once approved, the payment is:

   • Made at settlement (for newly built homes), or

   • Made when construction is complete (for owner-builders).

5. Move In and Meet Occupancy Requirements
   Remember — you must move in within 12 months of completion and live in the property as your main residence for at least 12 months.

Tip: Applying through a mortgage broker, like QPF Finance, ensures your grant application is coordinated alongside your home-loan approval. It also reduces paperwork and minimises the risk of missing critical deadlines.

Other Government Assistance for First Home Buyers in Victoria

In addition to the Victorian First Home Buyers Grant, there are a few national programs that can help boost your deposit or reduce upfront costs:

• Home Guarantee Scheme (HGS) – Allows eligible first-time buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Places are limited each financial year.
• First Home Super Saver Scheme (FHSSS) – Lets you save for your first home inside your super, taking advantage of the tax benefits of superannuation. You can withdraw up to $50,000 of voluntary contributions to use toward your deposit.
• Help to Buy (Coming Soon) – A shared-equity program that will see the Australian Government co-invest in the purchase price of eligible homes, helping reduce the loan amount required.

Tip: A QPF Finance mortgage broker can help check your eligibility for these schemes and combine them with the VIC First Home Buyers Grant to maximise your savings.

Why Use a Mortgage Broker

Buying your first home in Victoria is exciting, but the process can feel overwhelming especially when you’re comparing lenders, juggling paperwork, and trying to understand the different grants and schemes available.

That’s where a mortgage broker can help.

At QPF Finance our experienced brokers work with first home buyers across Melbourne and regional Victoria every week to:

• Compare loans from 50+ lenders to find the best rates and terms

• Handle your First Home Buyers Grant application alongside your loan paperwork

• Check your eligibility for federal programs like the Home Guarantee or Super Saver schemes

• Guide you from pre-approval to settlement, ensuring the process is simple and stress-free

• And our insurance team can also sort out Home & Contents Insurance for you!*

Unlike dealing with one bank, a broker gives you access to a broader range of lenders and products — helping you save both time and money.

With the right broker on your side, buying your first home in Victoria can be simpler, faster, and more affordable.

Speak with a QPF broker today to find out how much you can borrow and take the first step toward owning your dream home.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details

This article was last updated in October 2025 and all information is accurate as of this time.

Buying your first home is one of life’s biggest milestones but for many Queenslanders, it can feel out of reach. Between rising property prices, stamp duty, and the challenge of saving a deposit, it’s easy to see why the process can be overwhelming.

That’s where the QLD First Home Buyers Grant comes in. This government initiative helps eligible first home buyers bridge the gap between saving and owning, making it easier to purchase or build a brand-new home sooner.

Whether you’re buying in Brisbane, the Sunshine Coast, Townsville or regional Queensland, understanding the grant rules and how they fit into your overall loan strategy is key. That’s where a QPF Finance broker can help. Our team works with first home buyers every day to secure finance, apply for grants, and guide you from pre-approval through to settlement.

What Is the First Home Buyers Grant (QLD)?

The Queensland First Home Buyers Grant, often called the First Home Owner Grant (FHOG), is a one-off government payment designed to help first-time buyers purchase or build a new home, townhouse, or apartment.

As of July 2025, the Queensland Government has doubled the grant to $30,000 for eligible applicants. It’s available for newly built homes, off-the-plan properties, and substantial renovations valued at up to $750,000.

The grant aims to make entering the property market easier, particularly for young families and first-time buyers building in growth corridors or regional areas.

Example:
If you’re building a new home worth $700,000, the $30,000 grant could be used toward your deposit or construction costs reducing the amount you need to borrow.

You can read the full eligibility details on the Queensland Revenue Office website, but below we’ll break down what you need to know in simple terms.

Who Is Eligible for the QLD First Home Buyers Grant?

To qualify for the Queensland First Home Buyers Grant, you’ll need to meet certain personal, property, and occupancy requirements.

Here’s a simple breakdown:

Personal Eligibility

• You must be at least 18 years old.
• You must be an Australian citizen or permanent resident (or applying jointly with one).
• You must not have previously owned property in Australia.

Property Requirements

• The home must be brand new, off-the-plan, or substantially renovated.
• The total value of the home and land must be $750,000 or less.
• It must be located in Queensland.

Occupancy Requirements

• You must move into the home within 12 months of completion or settlement.
• You must live there continuously for at least 6 months as your main residence.

This grant is designed to help first home buyers entering the market, not investors. That means the property can’t be rented out during your required occupancy period.

Tip: Even if you’ve previously owned vacant land or an investment property, you may still be eligible in certain cases. Your broker or lender can help confirm your status before applying.

Property Value Caps and Grant Amounts in Queensland

As of July 2025, eligible first home buyers in Queensland can receive $30,000 toward the purchase or construction of a new home.

This increased grant amount is designed to help more Queenslanders get into the property market sooner — whether that’s a townhouse in Brisbane, a house-and-land package in Toowoomba, or a new build along the Sunshine Coast.

To qualify, the property you’re buying or building must have a total value of $750,000 or less.

This figure includes both the land and the completed home, so if you’re purchasing a house-and-land package or building with a registered builder, make sure the combined contract price doesn’t exceed that threshold.

The grant applies to:

• Brand-new houses, townhouses or units that have never been lived in
• Off-the-plan properties still under construction
• Owner-builder projects once construction is complete
• Substantially renovated homes that meet the state’s definition of “new”

However, it doesn’t apply to established properties or investment purchases. It’s purely designed to support owner-occupiers entering the market for the first time.

Example:
If you buy a new townhouse in Brisbane for $720,000, you could receive the full $30,000 grant, reducing the amount you need to borrow or helping cover your upfront purchase costs.

How to Apply for the First Home Buyers Grant in Queensland

Applying for the Queensland First Home Buyers Grant is a straightforward process, but it’s important to get the details right to avoid delays.

Here’s how it works step by step:

1. Check You’re Eligible

Before starting your application, make sure you meet all the criteria:

• You’re over 18 and an Australian citizen or permanent resident
• You haven’t previously owned property in Australia
• The home is brand new or off-the-plan, valued at $750,000 or less
• You’ll move in within 12 months and live there for at least 6 months

You can confirm full eligibility on the Queensland Revenue Office website.

2. Apply Through Your Lender or Broker

Most buyers apply for the grant through their lender or mortgage broker when submitting their home loan application. This is the fastest way to have the grant processed, as the lender can lodge your paperwork directly with the Queensland Revenue Office (QRO).

Tip: When you apply through a QPF broker, we’ll manage your grant paperwork alongside your loan — so you don’t need to handle separate forms or follow-ups.

3. Gather the Right Documents

Generally, you’ll need to provide:

• Proof of identity (passport, driver’s licence, or birth certificate)
• Copy of your signed building or purchase contract
• Proof of land ownership (if applicable)
• Evidence of completion or occupancy if you’ve already moved in

4. Submit and Wait for Assessment

Once submitted, applications are typically processed within 10 to 14 business days.

If you’re building a new home, the grant is usually paid once construction reaches the payment milestone or final stage.

If you’re buying an off-the-plan or completed property, the grant is often applied at settlement, helping to reduce upfront costs.

5. Keep Your Proof

It’s important to keep copies of all correspondence and grant approval letters. You may need them for future reference or if the Queensland Revenue Office requests verification later on.

Other Government Schemes for First Home Buyers in Queensland

In addition to the Queensland First Home Buyers Grant, there are a few national programs that can help boost your deposit or reduce upfront costs:

• Home Guarantee Scheme (HGS) – Allows eligible first-time buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Places are limited each financial year.
• First Home Super Saver Scheme (FHSSS) – Lets you save money for your first home inside your super, taking advantage of the tax benefits of superannuation.
• Help to Buy (Coming Soon) – A shared-equity program that will see the Australian Government co-invest in the purchase price of eligible homes, helping reduce the loan amount required.

Tip: A mortgage broker can help check if you’re eligible for multiple schemes and combine them with the QLD First Home Buyers Grant to maximise your savings.

Why Use a Mortgage Broker

Buying your first home can be exciting but also a little overwhelming. Between saving a deposit, comparing lenders, and navigating the fine print of grants and government schemes, it’s easy to feel unsure where to start.

That’s where a mortgage broker can make all the difference.

At QPF Finance our mortgage brokers specialise in helping first home buyers across Queensland access the right finance, grants, and support all in one place. We’ll:

• Compare 50+ lenders to find the best rate and loan structure for your situation
• Handle your First Home Buyers Grant paperwork alongside your loan application
• Check your eligibility for other programs like the Home Guarantee Scheme and First Home Super Saver Scheme
• Guide you from pre-approval through to settlement so you can focus on finding your dream home
• And our Insurance brokers can even sort out your Home & Content’s Insurance!*

Your first home journey doesn’t have to be complicated. With the right broker by your side, you can take advantage of every opportunity available and step into your new home with confidence.

Speak with a QPF broker today to check your eligibility and make the most of Queensland’s First Home Buyers Grant in 2025.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details

This article was last updated in October 2025 and all information is accurate as of this time.

Buying Your First Home in the Northern Territory

Buying your first home is a big milestone — and in the Northern Territory, where housing supply and costs can vary widely, every bit of help counts. The NT First Home Buyers Grant is designed to make that first step easier by giving eligible Territorians a financial boost toward their new home purchase.

Whether you’re building a new home in Palmerston, purchasing off the plan in Darwin, or constructing on your own land in a regional area, the grant can make a real difference in getting you started sooner.

At QPF Finance, our brokers work with first home buyers across the NT to help secure finance, manage your FHOG paperwork, and compare home loans from more than 80 trusted lenders — ensuring you get the right loan for your goals and budget.

What Is the First Home Buyers Grant (NT)?

Known in the Northern Territory as the HomeGrown Territory Grant, this First Home Owner Grant provides $10,000 to eligible first home buyers who purchase or build a new residential property.

The grant applies to:

• Newly built homes (never lived in or sold)

• Off-the-plan purchases, such as new apartments or townhouses

• Owner-builder projects, once construction is complete

The FHOG can be used to boost your deposit or help cover upfront costs such as legal fees or settlement expenses — helping first-time buyers get into their homes faster.

Example: If you’re building a new home in Palmerston valued at $550,000 or buying a new apartment in Darwin for $600,000, you may be eligible for the full $10,000 grant.

The NT FHOG is only available for new homes and does not apply to established or previously occupied properties.

You can view full details and conditions on the NT Government’s FHOG page.

Who Is Eligible for the NT First Home Buyers Grant?

To qualify for the First Home Owner Grant (FHOG) in the Northern Territory, applicants must meet several personal, property, and residency requirements. These ensure the grant supports genuine first home buyers purchasing or building new homes in the NT.

Personal Eligibility

• You must be at least 18 years old.

• You must be an Australian citizen or permanent resident, or applying with someone who is.

• You (and your spouse or partner) must not have owned or occupied a home anywhere in Australia before.

• You can only receive the grant once per person or couple.

Property Requirements

• The property must be a new home, meaning it has never been lived in, rented, or sold before.

• Eligible property types include:

  • Newly built homes purchased from a builder or developer

  • Off-the-plan apartments or townhouses

  • Homes built under a construction contract

  • Owner-builder homes once construction is complete

• The home must be located within the Northern Territory.

• There is no property value cap, as long as the home meets the “new home” criteria.

Occupancy Rules

You must live in the property as your main residence for at least six continuous months, beginning within 12 months of the completion or settlement date.

If you’re building, the occupancy period starts once construction is finished and you’ve moved in.

Tip: A QPF mortgage broker can help confirm eligibility and manage your FHOG application as part of your loan approval — making sure your grant and finance are processed smoothly together.

Property Value Limits and Eligible Homes

The Northern Territory First Home Owner Grant (FHOG) is designed to help genuine first-time buyers purchase or build new residential homes. Unlike many other states, the NT does not set a property value cap, giving buyers more flexibility to purchase or build in areas that suit their lifestyle and budget.

Eligible Property Types

You may qualify for the FHOG if you are:

• Building a new home under a construction contract or as an owner-builder

• Buying a newly completed home that has never been lived in or sold

• Purchasing off the plan, where construction is new or still underway

• Buying a house-and-land package that includes both land purchase and new build

To qualify as a new home, the property must:

• Have never been occupied, rented, or sold

• Be suitable for use as a principal place of residence immediately after completion

Ineligible Properties

You will not be eligible if you’re:

• Buying an established or second-hand home

• Purchasing a holiday house, investment, or rental property

• Acquiring vacant land without a building contract

Example: If you purchase a brand-new home in Darwin for $700,000 or build in Palmerston for $500,000, you may qualify for the full $10,000 grant, provided the home has never been lived in or sold.

How to Apply for the NT First Home Buyers Grant

Applying for the Northern Territory First Home Owner Grant (FHOG) is straightforward — and most buyers choose to apply through their lender or mortgage broker so it can be processed alongside their home loan.

Here’s how the process works:

1. Check Your Eligibility

Confirm that you meet all personal, property, and occupancy requirements. Your broker can review your application details and confirm whether your property qualifies as a “new home.”

2. Gather Your Documents

You’ll need to provide:

• Proof of identity (e.g. driver’s licence, passport, or Medicare card)

• A copy of your building or purchase contract

• Evidence of completion or settlement

• Bank account details for grant payment

3. Submit Your Application

You can apply in one of two ways:

• Through your lender or mortgage broker – Recommended for most buyers, as it streamlines processing with your loan approval.

• Directly to the NT Department of Treasury and Finance – Complete the First Home Owner Grant application form and submit it with supporting documents.

4. Payment of the Grant

Once approved, payment is made directly to your lender or to you (depending on the situation):

• For new home purchases – Paid at settlement.

• For owner-builders – Paid when construction is complete and occupancy is approved.

5. Move In and Meet Occupancy Requirements

You must move in within 12 months of settlement or completion and live in the home for at least six continuous months as your main residence.

Tip: A QPF mortgage broker can manage your FHOG submission as part of your home loan process — helping you avoid paperwork delays and ensuring your grant is paid on time.

Other Government Assistance for First Home Buyers in the NT

In addition to the NT First Home Owner Grant, there are several national schemes that can make buying your first home more affordable. These programs can often be used alongside the FHOG to help reduce upfront costs and increase your borrowing power.

• Home Guarantee Scheme (HGS) – The Australian Government’s Home Guarantee Scheme allows eligible first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI).
  Places are limited each financial year, so it’s worth applying early through a participating lender.
• First Home Super Saver Scheme (FHSSS) – The First Home Super Saver Scheme lets you save for your first home inside your superannuation fund, taking advantage of lower tax rates on contributions. You can withdraw up to $50,000 (combined total for couples) to use toward your deposit.
• Help to Buy (Coming Soon) – Expected to launch soon, Help to Buy is a shared equity program where the Australian Government contributes up to 40% of the purchase price of a new home (or 30% for existing homes), reducing the amount you need to borrow.

Tip: A QPF mortgage broker can help determine your eligibility for these programs and combine them with the NT First Home Owner Grant to maximise your savings and improve your buying position.

Why Use a Mortgage Broker

Buying your first home in the Northern Territory can be exciting — but navigating grants, loan options, and eligibility rules can be confusing. That’s where working with a mortgage broker makes a real difference.

A broker helps you:

• Compare loans from over 50 banks and lenders

• Check your eligibility for the NT First Home Owner Grant and other national schemes or initatives

• Secure competitive loan terms and interest rates

• Manage the entire process from pre-approval to settlement

• Our Insurance team can also help secure Home & Contents insurance for your new home!*

At QPF Finance, our brokers specialise in helping first home buyers take the stress out of the process. Whether you’re purchasing a home in Darwin, Palmerston, Katherine, or Alice Springs, we’ll guide you every step of the way — from understanding your borrowing power to handing over the keys.

🖐 Get in touch with QPF Finance or visit our First Home Buyers page for more information.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details

This article was last Updated in October 2025 and all information is accurate as of this time.

Buying your first home is one of the biggest milestones in life but it can also be one of the most daunting. Between saving a deposit, understanding government schemes, and choosing the right lender, there’s a lot to wrap your head around.

That’s where mortgage brokers come in. Whether you’re purchasing an apartment in the city, a family home in the suburbs, or a regional property with acreage, mortgage brokers help first home buyers navigate the process with confidence from pre-approval right through to settlement.

With a range of government incentives and lender options available, it’s important to understand how first home buyer loans actually work and what steps you can take to put yourself in the strongest position to enter the market.

How First Home Buyer Loans Work in Australia

A first home buyer loan is simply a standard home loan, but designed for people purchasing their first property. These loans often come with government-backed incentives such as lower deposits, waived Lenders Mortgage Insurance (LMI), or grants to help cover upfront costs.

To qualify as a first home buyer in Australia, generally you need to:

• Be an Australian citizen or permanent resident
• Be at least 18 years old
• Intend to live in the property as your main residence for at least 6 to 12 months (depending on your state or territory).
• Have not owned property in Australia before

Most lenders require a minimum deposit of 5–20%, but government initiatives like the First Home Guarantee can allow eligible buyers to purchase with as little as 5% down and no LMI.

The First Home Owner Grant (FHOG)

Introduced in 2000, the First Home Owner Grant has helped thousands of Australians achieve their dream of home ownership and take that important first step onto the property ladder.

Each Australian state and territory offers a version of the First Home Owner Grant (FHOG) to help first-time buyers purchase or build a new home.

First Home Buyer Queensland (QLD)

Grant Amount: $30,000
Property Cap: Up to $750,000
Eligible Properties: New homes (including off-the-plan and new builds)
Current Offer: Contracts signed 20 Nov 2023 – 30 Jun 2026

Introduced to stimulate new housing, Queensland’s FHOG offers one of the largest incentives in the country. It can be used toward newly built homes, off-the-plan apartments, or building on your own land.

Read our QLD First Home Buyer Guide for more info 👉

First Home Buyers New South Wales (NSW)

Grant Amount: $10,000
Property Cap: Up to $750,000
Eligible Properties: New homes only

NSW’s FHOG is available for new homes up to $750,000 and can be combined with first-home stamp duty exemptions on properties valued under $800,000.

Read our NSW First Home Buyer Guide for more info 👉

First Home Buyers Victoria (VIC)

Grant Amount: $10,000
Property Cap: Up to $750,000
Eligible Properties: New homes only

The Victorian FHOG supports new builds and off-the-plan purchases, with additional regional concessions available for buyers outside Melbourne.

Read our VIC First Home Buyer Guide for more info 👉

First Home Buyers South Australia (SA)

Grant Amount: $15,000
Property Cap: No limit (as of June 2024)
Eligible Properties: New homes only

South Australia recently removed its property value cap, making it easier for first-time buyers to access the grant regardless of property price.

Read our SA First Home Buyer Guide for more info 👉

First Home Buyers Western Australia (WA)

Grant Amount: $10,000
Property Cap: Up to $750,000 (south of 26°) / $1 million (north)
Eligible Properties: New homes only

WA’s FHOG applies to new homes, including off-the-plan apartments and owner-builders, with regional property caps adjusted for northern developments.

Read our WA First Home Buyer Guide for more info 👉

First Home Buyers Tasmania (TAS)

Grant Amount: $10,000
Property Cap: None
Eligible Properties: New homes or off-the-plan purchases

Tasmania’s FHOG continues to provide consistent support for first home buyers, particularly in regional and growing areas.

Read our TAS First Home Buyer Guide for more info 👉

First Home Buyers Northern Territory (NT)

Grant Amount: Up to $50,000
Eligible Properties: New homes or construction projects

The Northern Territory offers one of Australia’s most generous grants, providing up to $50,000 toward new homes or owner-builder projects.

Read our NT First Home Buyer Guide for more info 👉

First Home Buyers Australian Capital Territory (ACT)

Grant Availability: Not available for contracts after 1 July 2019
Alternative Support: Stamp duty concessions apply

While the FHOG has been discontinued in the ACT, eligible buyers may still receive reduced stamp duty on new or existing homes. For more information visit ACT Revenue Office.

Other National Schemes & Incentives for First Home Buyers

Australia offers several other national first home buyer schemes that can make entering the property market a little easier. Whether you’re struggling with a deposit or looking to reduce upfront costs, these initiatives are designed to help eligible Australians buy sooner, with less savings required.

Some of the key programs currently available include:

Home Guarantee Scheme

The First Home Guarantee (also known as the 5% deposit scheme) helps eligible buyers purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI).

Under the scheme, the Australian government acts as a partial guarantor on your loan, meaning you don’t need to save the full 20% deposit most lenders require.

Key details:

• No cap on the number of places available
• Applies to new and existing homes (location dependant)
• Property price caps vary by state and region
• Available for use in metro and regional areas of Australia

Tip: This scheme can be combined with state-based grants for even more support — we’ll cover those in the next section.

First Home Super Saver Scheme (FHSSS)

The First Home Super Saver Scheme allows you to use your superannuation to help fund your first home deposit.

Eligible buyers can make voluntary contributions of up to $15,000 per year (to a total of $50,000) into their super, then withdraw those savings plus earnings to use toward a deposit.

Because super contributions are taxed at a lower rate than your regular income, it’s a tax-effective way to save for your first home faster.

Eligibility highlights:

• Must be at least 18 years old
• Never owned property in Australia
• Contributions must be voluntary, not employer-paid super
• Apply through the ATO before signing a contract

Help to Buy Scheme (Coming 2025–2026)

The federal government’s upcoming Help to Buy Scheme (expected rollout in 2025–2026) will see the Commonwealth co-purchase up to 40% of a home for eligible buyers.

In exchange, you’ll own a smaller share of the property (e.g. 60%) and repay the government’s portion later — similar to shared equity models already in place in VIC and WA.

Proposed benefits:

• Buy with as little as 2% deposit
• No LMI payable
• Government holds equity share, not a loan
• Available to low- and middle-income earners

Keep an eye out for updates on this one soon!

Common Mistakes First Home Buyers Make

Buying your first home is exciting and it’s easy to overlook the small details that can make a big difference in a property purchase.

Our brokers work with first home buyers every week and some of the most common mistakes we see include:

• Overstretching your budget – borrowing to the limit without leaving a buffer for rate rises or bills.
• Skipping pre-approval – making offers before knowing your true borrowing capacity.
• Forgetting upfront and ongoing costs – things like stamp duty, conveyancing fees, insurance, and maintenance.
• Missing out on grants or incentives – many buyers don’t realise they qualify for multiple government programs.
• Choosing the wrong loan – a slightly lower rate doesn’t always mean a better deal.
• Going It Alone – getting advice from a mortgage broker could save you thousands (and remember – mortgage brokers are paid by the bank not you!).

The best way to avoid these pitfalls? Get professional guidance early. A quick chat with a mortgage broker can help you understand what’s realistic for your budget and ensure you don’t miss any opportunities or benefits.

Why Use a Mortgage Broker

Getting into the housing market can feel overwhelming but you don’t have to do it alone. Mortgage brokers act as the expert in your corner ready to guide you through the entire process, helping you find the right loan, lender, and structure for your situation.

Here’s how a mortgage broker can make your first home journey easier:

• Compare dozens of lenders – We have access to a wide panel of banks and specialist lenders, so you’re not limited to one option.
• Save you time and stress – We handle the paperwork, negotiations, and communication with lenders so you can focus on finding your home.
• Help you access grants and incentives – Our brokers stay up to date on every first home buyer scheme, so you don’t miss out on potential savings.
• Tailor your loan to your goals – Whether you’re looking for low repayments, flexibility, or room to pay down faster, we’ll structure your loan accordingly.
• Support you beyond settlement – Your broker remains a long-term partner, reviewing your loan as your needs evolve.

Buying your first home is a big step — and whilst the process can feel a bit daunting – the right broker can make all the difference.

From understanding your borrowing power to accessing every available grant or incentive, QPF Finance is here to help you every step of the way.

Whether you’re just starting to plan or already house-hunting, our experienced mortgage brokers can guide you through the process and find a loan that fits your goals.

Ready to get started? Talk to a QPF Mortgage Broker today and take the first step toward owning your first home.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

This article was last updated in October 2025 and all information is accurate as of this time.

Buying your first home in New South Wales is an exciting step — but with property prices among the highest in the country, it can also feel like an uphill climb. For many first home buyers, the challenge isn’t finding the right home — it’s saving enough to get started.

That’s where the NSW First Home Buyers Grant comes in. Designed to make entering the market easier, the grant helps eligible buyers purchase or build a brand-new home by providing a $10,000 boost toward upfront costs.

Whether you’re buying an apartment in Sydney, building in Newcastle, or settling in regional NSW, understanding how this grant works — and how it fits with other government schemes — can make a huge difference to your buying power.

At QPF Finance, our mortgage brokers help first-time buyers across New South Wales navigate these programs, compare lenders, and secure finance with confidence.

What Is the First Home Buyers Grant (NSW)?

The First Home Buyers Grant (also known as the First Home Owner (New Homes) Grant) is a $10,000 payment from the NSW Government to help first home buyers purchase or build a new residential property.

The grant applies to:

• Newly built homes valued up to $600,000, or

• House and land packages (including building contracts) valued up to $750,000 in total.

Eligible properties can include new houses, apartments, townhouses, or homes built by an owner-builder, as long as they’ve never been lived in or sold before.

Example: If you purchase a new off-the-plan apartment in Western Sydney worth $590,000, you may be eligible for the $10,000 grant — which can go toward your deposit or upfront costs.

The grant is only available for new or substantially renovated properties — not established homes.

You can review full details on the Revenue NSW website, but we’ve also broken down the key eligibility criteria in simple terms below.

Who Is Eligible for the NSW First Home Buyers Grant?

To qualify for the First Home Buyers Grant in New South Wales, applicants need to meet a few straightforward personal and property criteria.

Here’s what you need to know:

Personal Eligibility

• You must be at least 18 years old.

• You must be an Australian citizen or permanent resident (or applying jointly with one).

• You and your spouse or partner must not have previously owned or co-owned residential property in Australia.

• You can only receive the grant once — it’s a one-time benefit for first-time buyers.

Property Requirements

• The property must be brand new. This includes:

  • Newly built homes that have never been occupied or sold

  • Off-the-plan apartments or townhouses

  • Homes built under a building contract

  • Owner-builder constructions, once completed and approved for occupancy

• The home must be valued at no more than $600,000.

• For house and land packages or new builds, the combined land and construction cost must not exceed $750,000.

Occupancy Requirements

• You must move into the home within 12 months of settlement or completion.

• You must live there continuously for at least six months as your main residence.

The grant is designed for owner-occupiers, so investment properties or second homes aren’t eligible.

Tip: Even if you’re building on your own land, you may still qualify for the grant — provided the home hasn’t been lived in and meets the price cap.

Property Price Limits and Eligible Homes

The First Home Buyers Grant in NSW is designed to support those purchasing or building a new home. To be eligible, the property must fall within specific price caps set by the NSW Government.

If you’re buying a newly built home, the total value of the property must be $600,000 or less. For house and land packages (or when building on your own land) the combined value of the land and construction contract must not exceed $750,000.

These limits apply whether you’re buying an off-the-plan apartment in the city or building a family home in regional NSW.

The property must also meet the following criteria:

• It’s brand new, meaning it has never been lived in or sold before.

• It can be a new house, townhouse, apartment, or a home built by an owner-builder (after final approval).

• The property must be intended as your main place of residence.

Example: If you purchase a newly built townhouse in Penrith for $590,000 or build a home-and-land package in Dubbo worth $740,000, you may be eligible for the $10,000 grant to help cover your upfront costs.

The grant cannot be used for existing homes, investment properties, or renovations that don’t meet the state’s “substantially renovated” definition.

How to Apply for the First Home Buyers Grant in New South Wales

Applying for the NSW First Home Buyers Grant is relatively simple, but getting the details right will help you avoid delays or missed payments. Here’s how the process works:

1. Check Your Eligibility

Before applying, make sure both you and the property meet the grant requirements:

• You’re over 18 and an Australian citizen or permanent resident

• You’ve never owned property in Australia

• You’re buying or building a brand-new home valued under the relevant price cap

• You plan to move in within 12 months and live there for at least 6 continuous months

You can confirm full details on the Revenue NSW website.

2. Apply Through Your Lender or Mortgage Broker

The easiest way to apply is through your lender or mortgage broker when you’re arranging your home loan. They’ll lodge the grant application on your behalf with Revenue NSW, and the payment is usually made at settlement (for completed homes) or once construction is finished (for new builds).

Tip: QPF Finance brokers handle your grant application alongside your home loan — saving you time and ensuring every document is submitted correctly.

3. Gather Your Documents

You’ll generally need:

• Proof of identity (passport, driver’s licence, or birth certificate)

• Copy of your signed contract of sale or building contract

• Proof of completion or occupancy (for new builds)

• Evidence of land ownership (if building on your own land)

4. Submit and Wait for Assessment

Once your broker or lender submits the application, Revenue NSW will assess it and process the payment — typically within 10 to 15 business days. If you’ve applied directly, you’ll be notified by email or post when the outcome is confirmed.

Other Government Assistance for First Home Buyers in NSW

Alongside the NSW First Home Buyers Grant, there are several national programs designed to help first-time buyers enter the market sooner:

• Home Guarantee Scheme (HGS) – Buy a home with as little as a 5% deposit and avoid paying Lenders Mortgage Insurance (LMI).

• First Home Super Saver Scheme (FHSSS) – Save your deposit through voluntary super contributions, which can offer tax advantages.

• Help to Buy (Coming Soon) – A shared-equity scheme where the government co-invests in your property, reducing the amount you need to borrow.

Tip: A QPF Finance broker can check your eligibility across multiple programs and help you combine them with the NSW grant for maximum savings.

Why Use a Mortgage Broker

Buying your first home in New South Wales can feel overwhelming especially when you’re trying to make sense of grants, lenders, and ever-changing property prices. That’s where a mortgage broker can make all the difference.

At QPF Finance, our property finance team help first home buyers across Sydney and regional NSW:

• Compare 50+ lenders to find the most competitive rates and products

• Handle your First Home Buyers Grant paperwork and apply through the right channels

• Check your eligibility for other schemes like the Home Guarantee or Super Saver programs

• Guide you from pre-approval to settlement, saving you time and stress

• And our insurance brokers can help sort out your Home & Contents insurance!*

Unlike going directly to one bank, we search the market to find the loan that truly fits your goals.

With the right broker by your side, buying your first home doesn’t have to be complicated. We’ll help you understand your options, access the right support, and take the next step toward owning your first home in NSW.

👉 Speak with a QPF broker today to find out how much you can borrow and make the most of New South Wales’ First Home Buyers Grant.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details