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Government Grants and Incentives

What is available to first home buyers?

Regional First Home Buyer Guarantee (RFHBG)

Purchase your new home sooner

The Australian Government is helping eligible home buyers in regional areas to buy a home sooner with a deposit as low as 5%, without the need to pay Lenders Mortgage Insurance (LMI). 

The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme (HGS). From 1 July 2023 – 30 June 2024, 10,000 RFHBG places are available. 

Find out more

Speak with one of our specialist brokers to find out if you’re eligible.

Frequently Asked Questions about the RFHBG

Home buyers must be:  

  • applying as an individual or joint applicants  
  • an Australian citizen(s) or permanent resident(s)* at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office) 
  • intending to be owner-occupiers of the purchased property  
  • home buyers who have not previously owned, or had an interest in, a property in Australia or in the ten years prior to the date they execute their home loan. 
  • First home buyers or previous homeowners who haven’t owned a property in Australia in the past ten years.
  • The property purchased may not exceed the price caps shown in the table below in each region.

The scheme aims to help buyers into thier new home sooner by not needing to save the full 20% deposit . The Federal Government will guarantee up to 15% so Lenders Mortgage Insurance (LMI) is not payable.

The scheme is not a cash grant and borrowers will still be required to borrow up to 95% of the purchase price plus costs.

Home buyers can buy a residential property, including: 

  • an existing house, townhouse or apartment 
  • a house and land package 
  • land and a separate contract to build a home 
  • an off-the-plan apartment or townhouse.

Specific timeframes and criteria apply to the different property types. The contract of sale and (if applicable) eligible building contract may need to be executed by specific dates.

StateCapital City and Regional Centre*Rest of State
Territory All areas
ACT $750,000
NT Regional $600,000
Jervis Bay Territory & Norfolk Island $550,000
Christmas Island and Cocos (Keeling) Islands $400,000


* Regional centres are Newcastle and Lake Macquarie, Illawarra, Geelong, Gold Coast and Sunshine Coast.

Applications can only be made with a Participating Lender or their authorised representative (a mortgage broker).

The Broker Team can carefully assess your eligibility and provide recommendations from a range of participating lenders. Lending criteria applies and will depend on your personal financial situation. Contact us today.

All above information published by The Broker Team has been supplied by the Australian Government NHFIC Website and was relevant at the time it was published. If you have any questions, please contact us.

Stamp Duty Exemptions and Concessions

What are the savings?

Stamp Duty Exemption

If you are a first home buyer and purchase a principal place of residence (not an investment property) valued up to $600,000, you are exempt from paying stamp duty on the purchase.

This duty exemption is separate from the First Home Owner Grant. The FHOG grant is a payment made to you, whereas the first home buyer duty exemption is a reduction in the amount of land transfer duty you pay.

Stamp Duty Concession

If you are a first home buyer and purchase a principal place of residence (not an investment property) valued between $600,001, and $750,000, you will receive a reduction on the amount of stamp you’ll pay for the purchase.

The amount of reduction is on a sliding scale and depends on the property value – use our stamp duty calculator to find out more.

Stamp Duty Calculator

Use our Stamp Duty Calculator to estimate your potential stamp duty costs.

First Home Owners Grant (FHOG)

Could you be eligible for $10,000?

If you are buying or building a new home valued up to $750,000, you may be eligible for a First Home Owner Grant (FHOG) of $10,000. To be eligible, the home must not have been previously sold or occupied.

Get in touch with us to find out if you are eligible and how to access the FHOG.

Frequently Asked Questions about the FHOG

The property must be a new home, and not have been previously sold as a place of residence, occupied as a home, or leased out or used for short-term accommodation, such as Airbnb.

The Property must be valued at $750,000 or less.

The FHOG is not a rebate off the cost of your property purchase, it is a cash gift. You can choose to put it towards your home loan, help with the setup of your new home, or anything else!

No – the FHOG is only available once. Additionally, you’re not eligible for the FHOG if you or your spouse or partner have already:

  1. Received the FHOG in Australia;
  2. Owned a home or other residential property in Australia, either jointly or separately, prior to 1 July 2000, or;
  3. Lived in a home in Australia which either of you owned or part-owned on or after 1 July 2000 for a continuous period of at least six months.

These criteria apply even if your spouse or partner is not an applicant with you for the FHOG.

All above information published by The Broker Team has been supplied by State Revenue Office and was relevant at the time it was published. If you have any questions, please contact us.

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