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First-Home Buyers & Grants

Buying your first home is exciting, but it’s also the point where most people realise how much they don’t know. Grants, guarantees, stamp duty concessions, lender criteria, it’s a lot to hold in your head while you’re also trying to find a place you actually like. That’s where we come in.

At Go Mortgage, our job is to make the process feel simple rather than overwhelming. We’ve helped hundreds of first home buyers on the Gold Coast get into the market, and we stay on top of every government scheme change so you don’t have to.

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Why Work with Our Mortgage Brokers for First Home Buyers?

You could go straight to a bank. Plenty of people do.

But a bank can only offer you its own products, which means you’re not actually seeing the full picture of what’s available to you.

As a mortgage broker for first home buyers, we compare loans from more than 60 lenders and match you with the one that suits your situation, rather than whichever product a single bank happens to be pushing that month.We’ll also handle the parts that trip people up: working out your borrowing power, sorting the right grants and concessions, and managing your application through to settlement.

Here’s what we take care of for you:

Estimating your borrowing power with our mortgage repayments calculator
Applying for the First Home Owner Grant on the Gold Coast
Checking your eligibility for the First Home Guarantee
Working out what you’re eligible for under the First Home Concession in QLD and the current stamp duty rules
Comparing loan features like offset accounts, redraw, and fixed vs variable rates
Lodging your application and staying with you right through to settlement day

The Rules Just Changed.

Here’s What’s New.

If you looked into government schemes for first home buyers a year or two ago and decided you didn’t qualify, it’s worth looking again. The rules changed significantly from 1 October 2025, and a lot of buyers who were previously locked out now qualify.

The scheme formerly known as the First Home Loan Deposit Scheme is now called the Australian Government 5% Deposit Scheme, and it’s had a major overhaul. Income caps are gone. Place limits are gone. Property price caps have gone up and Permanent residents are now eligible

On top of that, stamp duty on new builds in Queensland was scrapped entirely from 1 May 2025. We’ve broken down exactly what changed and what it means for Gold Coast buyers in our guide on the Government Guarantee Changes from October 2025.

Here’s a breakdown of the four main schemes available to first home buyers right now.

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5% Deposit Scheme (formerly the First Home Guarantee)

The 5% Deposit Scheme lets eligible buyers purchase with just a 5% deposit and skip Lenders Mortgage Insurance entirely. Normally, anyone borrowing more than 80% of a property’s value gets slugged with LMI, which can add tens of thousands of dollars to your upfront costs. Under this scheme, the government guarantees the remaining portion of your loan, so lenders waive that fee.

As of 1 October 2025, this scheme is more accessible than it’s ever been. There’s no income cap, so it doesn’t matter how much you or your partner earns. There’s no limit on the number of places available each year, so you’re not racing other applicants for a capped number of spots. Property price caps have also increased, and the Gold Coast now sits in the higher price bracket alongside Brisbane, meaning eligible buyers can purchase up to $1,000,000 and still use the scheme.

You’ll need at least a 5% deposit, and the property has to be one you plan to live in rather than rent out.

As your mortgage broker for first home buyers, we’ll check your eligibility, confirm which lenders take part in the scheme, and manage your application right through to settlement.

Gold Coast First Home Owner Grant

The First Home Owner Grant is a one-off, tax-free payment for buyers building or purchasing a new home. In Queensland, eligible buyers can currently receive $30,000, one of the largest grants offered anywhere in the country.

To qualify, you’ll generally need to be a first home buyer purchasing a new or substantially renovated home, and the value of your new home must be less than $750,000 (including land and any contract variations).

This grant can be used alongside other schemes like the First Home Guarantee, which makes it one of the simplest ways for eligible Gold Coast buyers to boost their budget. We’ll check your eligibility and handle the paperwork as part of your loan application, so it’s one less form for you to work out on your own.

First Home Concessions in QLD

The First Home Concession reduces the amount of stamp duty you pay when buying an established (not new) home in Queensland, as long as you meet the eligibility criteria. This concession applies on top of the standard transfer duty rates and can save eligible buyers thousands of dollars, depending on the purchase price.

To be eligible, you generally need to be a genuine first home buyer, plan to live in the property, and be buying within the relevant price thresholds. Because concession thresholds and rates can shift with policy updates, this is exactly the kind of detail worth checking with a broker before you sign a contract, rather than assuming last year’s numbers still apply. We’ll walk you through what you’re eligible for based on the specific property you’re looking at.

Stamp Duty First Home Buyer QLD: The New Build Exemption

This is one of the biggest changes for Queensland first home buyers in recent years.

From 1 May 2025, eligible first home buyers pay zero stamp duty on new homes or vacant land bought for the purpose of building a new home, and there’s no price cap on this exemption. So whether it’s a brand-new house, a townhouse or a block of land to build on, this rule could save you thousands that would otherwise go straight to transfer duty.

This exemption sits separately from the QLD First Home Concession, which applies to established homes. Depending on what you’re buying, you could be eligible for one or the other, and in some cases, you can combine this with the 5% Deposit Scheme and First Home Owner Grant to give your first purchase a solid start. We’ll help you work out exactly which combination applies to your situation.

What Sets Go Mortgage Apart

As a long-standing Gold Coast mortgage broker based in Arundel, we understand the local market and the specific challenges first home buyers on the Gold Coast are up against, from rising price caps to competitive listings.

We help all sorts of buyers, from singles and couples to families and self-employed applicants whom banks sometimes knock back for not fitting a standard mould.Whatever your situation, we’ll take the time to explain your options clearly and help you make decisions you feel confident about, not just ones that get you approved.

Plenty of our first home buyers come back years later when they’re ready for their next move, be it buying a second property, property investment advice on the Gold Coast, refinancing with a home loan broker, or structuring a purchase through SMSF on the Gold Coast.

Our job doesn’t end at settlement. We’re here for the long run.

Clearly explain how the home loan process works.

Recommend the most suitable loan options based on your needs.

Keep you informed and in control at every stage.

Answer every question you have—big or small.

Access to Over 60 Lenders–Find the Right Loan for You

There’s no same-for-everyone home loan. That’s why we compare products from more than 60 lenders to find the best fit for your budget, lifestyle and goals. We’ll help you explore different features like fixed and variable rates, offset accounts and redraw options.

You can also use our mortgage offset calculator to see how much interest you could save with the right structure.

After all, you are only a first home buyer once, so why not do it right the first time and set yourself up for success!

Let’s Get You Into Your First Home

If you’re ready to apply or just want to understand what’s possible for your situation, get in touch. We’ll match you with a dedicated mortgage broker for first home buyers who takes care of the details while keeping the process simple.

Here’s how to get started:

Speak with a trusted Gold Coast mortgage broker
Use our mortgage repayments calculator to get a realistic budget
Check how an offset account could reduce your interest with our mortgage offset calculator
Ask us about grants, concessions, and how much you could save

Call 1300 855 244 or book your free consultation with one of our brokers today.

Frequently Asked Questions

What is the First Home Owner Grant QLD amount?

Eligible first home buyers in Queensland can currently receive $30,000 for building or purchasing a new home which must have a value of less than $750,000 (including land and any contract variations).

What is the 5% Deposit Scheme?

The 5% Deposit scheme (previously known as the First Home Loan Deposit Scheme and also the First Home Guarantee) allows eligible buyers to purchase a home with a 5% deposit while avoiding Lenders Mortgage Insurance. From 1 October 2025, there are no income caps and no limit on the number of places, plus higher property price caps, including a $1,000,000 cap for Gold Coast buyers.

How much stamp duty do first home buyers pay in QLD?

It depends on what you’re buying. If you’re purchasing a new home or vacant land to build on, you may pay zero stamp duty from 1 May 2025, with no price cap. If you’re buying an established home, you may be eligible for a reduced rate through the First Home Concession, depending on the purchase price and your eligibility.

Can I combine the grant and deposit scheme?

Yes. The First Home Owner Grant, the 5% Deposit Scheme and stamp duty concessions can usually be used together if you meet the eligibility criteria for each. Combining them can meaningfully reduce your upfront costs as a first-home buyer.

What deposit do I need?

Under the 5% Deposit Scheme eligible buyers only need a 5% deposit to avoid Lenders Mortgage Insurance. Outside the scheme, most lenders require at least a 20% deposit to avoid LMI, so this scheme can significantly reduce how much you need to save before buying.