Buying your first home is a huge milestone, one that comes with excitement, nerves and, let’s be honest, a fair bit of paperwork. At Mountway Finance, we know that navigating government grants and schemes can feel overwhelming, especially when you’re just starting out. The good news? There’s a range of support available to help first-time buyers get their foot on the property ladder, from national initiatives to state-based grants and concessions.
In this guide, we’ll break down the main government grants and schemes available for first home buyers in Australia in 2025, explain who’s eligible, and offer some practical tips to help you make the most of what’s on offer. Whether you’re dreaming of a city apartment or a family home in the suburbs, understanding your options is the first step towards making your home ownership dream a reality.
Let’s start with the big picture. There are several federal government schemes designed to help first home buyers across Australia. These can make a real difference to your deposit, your borrowing power, and your overall costs.
The Home Guarantee Scheme helps eligible buyers purchase a home with a deposit as low as 2 to 5 per cent, without needing to pay Lenders Mortgage Insurance (LMI). LMI can add thousands to your upfront costs, so avoiding it is a real win.
There are three main streams under the HGS:
To be eligible, you’ll need to be an Australian citizen or permanent resident, meet income caps ($125,000 for singles, $200,000 for couples), and intend to live in the property.
Saving for a deposit can be tough, especially with rising living costs. The FHSSS lets you make voluntary contributions to your superannuation, then withdraw up to $50,000 (plus earnings) to use as a deposit on your first home. Because super contributions are taxed at a lower rate, this can help you save faster.
You’ll need to apply for a determination from the ATO before signing a contract, and there are rules about how and when you can access your funds. It’s a great option if you’re planning ahead and want to boost your deposit in a tax-effective way.
The Help to Buy Scheme is a shared equity program, where the government contributes up to 40 per cent of the purchase price for a new home, or 30 per cent for an existing home. In return, the government holds an equivalent share in your property. You’ll need a minimum 2 per cent deposit, and the scheme is income-tested (singles earning up to $90,000, couples up to $120,000).
This scheme can make home ownership possible for buyers who might otherwise struggle to save a large deposit or meet standard lending criteria. Just keep in mind that when you sell, the government will recoup its share, including a portion of any capital gains.
On top of the national schemes, each state and territory offers its own grants, concessions, and incentives for first home buyers. These can include cash grants, stamp duty exemptions or concessions, and special loan programs. Here’s a quick overview of what’s available in each region as of mid-2025:
First Home Owner Grant (FHOG): $10,000 for buying or building a new home valued up to $600,000, or a new house and land package up to $750,000.
First Home Buyers Assistance Scheme: Stamp duty exemption for properties up to $800,000, and concessions for properties up to $1 million.
Shared Equity Home Buyer Helper: The government can contribute up to 40 per cent of the purchase price for a new home, or 30 per cent for an existing property, for eligible buyers.
First Home Owner Grant: $10,000 for building or buying a new home.
Stamp Duty Exemptions: No stamp duty for homes up to $600,000, and concessions for homes up to $750,000.
Victorian Homebuyer Fund: A shared equity scheme where the government can contribute up to 25 per cent of the purchase price.
First Home Owner Grant: $30,000 for buying or building a new home valued under $750,000 (until June 2025).
Stamp Duty Concessions: Full exemption for homes up to $700,000, with concessional rates above that.
Regional Home Building Boost: $5,000 for building or buying a new home in regional Queensland.
First Home Owner Grant: $10,000 for buying or building a new home.
Stamp Duty Exemptions: No stamp duty for homes up to $430,000, with concessions up to $530,000.
Home Buyers Assistance Account: Up to $2,000 to help with incidental costs like settlement fees.
First Home Owner Grant: $15,000 for buying or building a new home.
Stamp Duty Exemptions: No stamp duty for new homes under $650,000, with concessions up to $700,000.
First Home Owner Grant: $30,000 for building a new home (for contracts signed before 30 June 2025).
Stamp Duty Concessions: For homes up to $600,000.
MyHome Shared Equity Program: Buy with as little as a 2 per cent deposit, with the government taking an equity share.
No First Home Owner Grant currently available.
Home Buyer Concession Scheme: Stamp duty concessions for eligible buyers, based on income and property value.
First Home Owner Grant: $10,000 for buying or building a new home.
Household Goods Grant: Up to $2,000 to help furnish your new home.
Stamp Duty Concessions: For eligible first home buyers.
In many cases, yes. For example, you might be able to use the First Home Owner Grant alongside the Home Guarantee Scheme and a stamp duty exemption, provided you meet the eligibility criteria for each. However, each program has its own rules, so it’s important to check the details or speak with a mortgage broker who can guide you through the process.
While government grants and schemes can make a big difference, there are a few things to keep in mind:
At Mountway, we’re here to guide you through every step of the home buying journey. We’ll help you identify which grants and schemes you’re eligible for, prepare your application and supporting documents, find the right loan for your needs and budget, and understand the fine print, so there are no surprises down the track.
We know that every buyer’s situation is unique, and we’re committed to making the process as smooth and stress-free as possible. If you’re ready to take the next step, or just want to chat through your options, our team is here to help.
Government grants and schemes can be a real game-changer for first home buyers, helping you get into your own home sooner and with less financial strain. The key is to do your research, understand your options, and get expert advice early in the process.
If you’re feeling overwhelmed, remember, you don’t have to do it alone. At Mountway Finance, we’re passionate about helping first home buyers achieve their goals, and we’ll be with you every step of the way.