If you’re a first home buyer in Australia and struggling to save a deposit, there’s a game-changing opportunity you need to know about. In 2025, eligible buyers can potentially access up to $70,000 in grants and assistance to help purchase their first home — even if they have no deposit saved.
Thanks to a combination of federal and state-level schemes, more Australians are achieving their dream of homeownership without the stress of saving for years. Whether you’re buying in Queensland, Victoria, or New South Wales, this guide breaks down exactly how to take advantage of these incentives and what you need to qualify.
Why Are So Many First Home Buyers Still Renting?
In today’s economy, saving a 20% deposit — which could be over $140,000 for a $700,000 property — is simply not feasible for many Australians. Rising rent, inflation, and stagnant wages have made it difficult for young Australians to get ahead.
That’s why the government has introduced several first home buyer grants and deposit support programs to help close the gap.
With the right strategy, you may not need a deposit at all — and with grants totaling up to $70,000 available across multiple programs, your dream of owning a home could be closer than you think.
The $70,000 Opportunity: What’s Included?
While you won’t receive a single $70,000 cheque, multiple schemes and incentives can combine to reach that value. Here’s a breakdown:
1. First Home Owner Grant (FHOG) – Up to $30,000
Most Australian states offer a First Home Owner Grant to eligible buyers purchasing a new build or substantially renovated property.
- Queensland: $30,000 (for contracts signed between 20 Nov 2023 – 30 June 2025)
- Victoria: $10,000 in metropolitan areas, $20,000 in regional areas
- New South Wales: $10,000 for eligible new homes under $600,000
These grants do not require repayment and can be used toward your deposit or upfront costs.
2. Stamp Duty Exemptions – Worth Up to $20,000 or More
Stamp duty (also called transfer duty) is one of the largest upfront costs when buying a home. Fortunately, first home buyers in many states are exempt or receive discounts.
- NSW: No stamp duty on homes up to $800,000
- VIC: Full exemption up to $600,000, concessions up to $750,000
- QLD: Concessions on homes under $550,000
Depending on the property and location, stamp duty savings can range from $10,000 to over $20,000.
3. First Home Guarantee Scheme – Avoid Lenders Mortgage Insurance (Save $12,000–$20,000)
The First Home Guarantee Scheme (formerly the First Home Loan Deposit Scheme) allows eligible buyers to purchase with as little as 5% deposit while avoiding Lenders Mortgage Insurance (LMI).
LMI can cost between $12,000 and $20,000, depending on the loan size and deposit. Under this scheme, the government acts as a guarantor for the remaining 15%, helping you get into the market faster and more affordably.
4. Super Saver Scheme – Up to $15,000 Per Individual
The First Home Super Saver Scheme (FHSSS) lets you withdraw up to $15,000 of voluntary super contributions to use as part of your deposit. Couples can access $30,000 total.
This helps you build your deposit faster while benefiting from lower tax rates on savings within superannuation.
Can I Really Buy a House With No Deposit?
Yes — with the right combination of grants, schemes, and a guarantor, it’s entirely possible to buy your first home without saving a traditional deposit.
Here are three common ways Australians are entering the market with no deposit:
1. Use Government Grants as Your Deposit
Many lenders allow government grants (like the FHOG) to count toward your deposit. If you qualify for $30,000 or more in grants, that can significantly reduce the upfront amount you need to contribute.
2. Add a Guarantor
If a parent or close family member owns property with equity, they can act as a guarantor. This means they offer part of their property as security for your loan, allowing you to borrow up to 100% of the property’s value.
This also eliminates the need for Lenders Mortgage Insurance, saving you thousands.
3. Gifted Funds or Super Saver Scheme
Some buyers receive financial gifts from family to help with the deposit. Others access their superannuation contributions through the FHSSS. Both are acceptable forms of deposit with many lenders.
Real-Life Example: Buying with No Deposit in 2025
Let’s say you’re buying a new build in Queensland worth $550,000. Here’s how the numbers might look:
- FHOG: $30,000
- Stamp Duty: $0 (due to concessions)
- First Home Guarantee: Avoid $15,000 LMI
- Guarantor: Covers any shortfall in deposit
- Total upfront assistance: Over $45,000–$70,000 in value
With careful planning and support, you could secure your first home with no upfront deposit from your own savings.
What Do Lenders Look For?
Even without a deposit, lenders still assess your ability to repay. You’ll need to show:
- Stable employment (ideally 6+ months in your current job)
- Good credit score (no recent defaults or missed payments)
- Low debt levels
- Clear bank statements showing responsible spending
Having a guarantor, gifted funds, or access to government grants helps, but your financial behaviour is still the key factor for approval.
Common Mistakes to Avoid
- Assuming All Lenders Accept Grants as Deposits
Some lenders have stricter requirements. Use a mortgage broker who knows which banks support these programs. - Overlooking Additional Costs
Even with grants, you still need to pay for legal fees, inspections, and possible moving costs. - Not Understanding Guarantor Risks
If you use a guarantor, ensure they understand their financial responsibilities.
Where Are the Best Areas to Buy as a First Home Buyer?
In 2025, there are still suburbs and regional areas offering affordable housing, especially for first home buyers using grants:
- Ipswich, QLD: Strong growth and new developments
- Wyndham Vale, VIC: Affordable housing under $600,000
- Campbelltown, NSW: Qualifies for grants and stamp duty relief
- Elizabeth, SA: One of the cheapest areas for new homes
Buying in these locations often means higher approval chances, especially if you’re using grant-based funding and government support.
Final Thoughts: You Don’t Need to Wait Years to Buy
If you’re renting and feeling stuck, it’s time to consider your options. Thanks to first home buyer grants, government schemes, and creative loan structures, you can now enter the property market sooner — and with significantly less financial stress.
With up to $70,000 in grants and savings, and the possibility of no deposit home loans, 2025 could be the year you finally stop renting and start owning.
Take the Next Step
- Speak to a mortgage broker: They can help you find lenders who accept grants and no deposit applications.
- Check your eligibility for the First Home Guarantee, FHOG, and stamp duty exemptions in your state.
- Start building your credit profile and reduce any existing debts.
Disclaimer: This article is general in nature and does not constitute financial advice. Please speak to a licensed mortgage broker or financial advisor before making home loan decisions.