5% Deposit Scheme QLD 2026 | First Home Guarantee Gladstone | AJ Home Loans

5% Deposit Scheme for First Home Buyers in Queensland

Federal First Home Guarantee — Buy in Gladstone with 5% Deposit, No LMI, Full Ownership

Skip the 20% Deposit. Skip the LMI.

The federal government’s First Home Guarantee lets eligible first home buyers purchase with as little as a 5% deposit. The government guarantees up to 15% of the loan value to the lender, so you avoid Lenders Mortgage Insurance entirely. Unlike Queensland’s Boost to Buy shared equity scheme, this is not a co-ownership arrangement — you own 100% of your property from day one and owe the government nothing.

As your mortgage broker in Gladstone, Coral will assess which scheme suits your situation and connect you with the right participating lender.

5%Minimum deposit required

$0Lenders Mortgage Insurance

15%Government loan guarantee

100%You own the property outright

No capIncome limits removed Oct 2025

Key Difference from the $30,000 FHOG Grant

The $30,000 First Home Owner Grant is a cash payment for new builds only. This scheme is completely separate and applies to both new and established properties. For most Gladstone buyers purchasing existing homes, the 5% Deposit Scheme is the more relevant starting point.

Income caps were removed in October 2025. If you previously checked and were over the threshold, check again — the scheme now has unlimited places with no income limit.

How the Three Schemes Compare

QLD Grant

$30,000 FHOG →

Cash grant for new builds only. Never repaid. Property must be under $750k. Expires June 2026.

Applies to: New builds only

You own: 100%

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5% Deposit Scheme (Federal)

Government guarantees 15% of your loan. No LMI, no shared equity. You own your home fully from settlement.

Applies to: New or existing homes

You own: 100% from day one

QLD Scheme

Boost to Buy (2%) →

QLD Government co-owns up to 25% of your home. Only 2% deposit needed. Government equity must be repaid.

Applies to: New or existing, up to $1M

You own: Partial until buyout

Eligibility at a Glance

All criteria must be met at the time of application. Coral will confirm your eligibility as part of your first home buyer consultation in Gladstone.

Who Qualifies

✓ Australian citizens or permanent residents

✓ Genuine first home buyers, or those who have not owned property in the last 10 years

✓ Singles or couples purchasing together

✓ Owner-occupiers only

✓ Any income level — caps removed Oct 2025

✗ Investment purchases are not eligible

Property Requirements

✓ Residential property: house, townhouse, or apartment

✓ New builds, established homes, house and land packages, off-the-plan

✓ Purchase price within the regional cap for your area

✗ Investment properties are not eligible

✗ Commercial or mixed-use properties are not eligible

Deposit Requirements

✓ Minimum 5% of purchase price in genuine savings

✓ Deposit must be less than 20%

✗ If you have 20% or more saved, you do not need this scheme

✗ Do not restructure finances to appear below 20% — explicitly excluded

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Coral is a Commissioner for Declarations (Cdec) — Gladstone

Several documents in your home loan application require witnessing or certification by an authorised person. As a Commissioner for Declarations, Coral can witness statutory declarations and certify document copies during your first home buyer appointment in Gladstone. No separate JP trip needed.

Document Checklist Progress

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Identity and Citizenship Documents

Proof of Identity (100-point check)

Driver’s licence, passport, birth certificate, or a combination totalling 100 points. All documents must be current. Coral can certify copies as a Commissioner for Declarations.

Proof of Australian Citizenship or Permanent Residency

Australian passport, birth certificate, or citizenship certificate. Permanent residents must include visa grant notice or ImmiCard.

Tax File Number (TFN)

Required by the lender as part of standard loan application processing.

Income and Employment Documents

Two Most Recent Payslips

From all applicants. Must show employer name, gross income, and pay frequency.

Most Recent Group Certificate or PAYG Summary

Annual tax summary from your employer for the most recently completed financial year.

Employment Confirmation Letter (if recently started)

Letter from your employer confirming your position, start date, salary, and employment type (permanent, contract, or casual).

Two Years Tax Returns and ATO Assessments (if self-employed)

ATO-lodged returns and Notices of Assessment for the last two financial years.

Savings and Deposit Evidence

Bank Statements (last 3 months, all accounts)

Showing your 5% deposit funds. Lenders look for a genuine savings pattern — regular contributions over time, not a lump sum received shortly before application.

Evidence of Other Assets (if applicable)

Statements for shares, term deposits, or managed funds contributing to your deposit.

Gift Letter (if receiving family assistance)

A signed statutory declaration confirming the funds are a non-repayable gift. Coral can witness this declaration as a Commissioner for Declarations.

Existing Debts and Liabilities

Credit Card Statements

Most recent statements for all credit cards showing the credit limit. Lenders assess the limit as a potential liability, not just the current balance.

Personal Loan Statements (if applicable)

Statements showing the outstanding balance and monthly repayment amount.

Car Loan or Vehicle Finance Statements (if applicable)

Current statement showing balance, repayment, and remaining term.

HECS/HELP Debt Balance (if applicable)

Your current HECS balance from the ATO online portal. Lenders factor this into their serviceability assessment.

Property Documents

Signed Contract of Sale

Fully executed purchase contract signed by all parties. Must be within the eligible property price cap for your region.

First Home Buyer Declaration

Statutory declaration confirming you have never previously owned residential property in Australia, or not in the last 10 years. Coral can witness this as a Commissioner for Declarations.

Things to Know Before You Apply

Apply through a participating lender: The scheme runs through Housing Australia via approved lenders. Coral will identify which participating lenders suit your situation and credit profile.

Genuine savings matter: A pattern of regular saving over 3 to 6 months is far stronger than a recent lump sum. Do not move funds around just before applying.

Stacking with the FHOG: If you are building new, you may be eligible for both the 5% Guarantee and the $30,000 First Home Owner Grant simultaneously.

No income caps since October 2025: The scheme previously excluded higher earners. That restriction is now gone entirely, making this accessible to a much larger pool of buyers.

Common Issues That Can Derail Applications

Irregular savings pattern raising lender concerns • Credit card limits reducing borrowing capacity • Not using a participating lender • Property price above the regional cap • Attempting to restructure finances to appear eligible • Undisclosed debts • Insufficient employment history

Related Pages for Gladstone First Home Buyers

First Home Buyer Loans GladstoneFull guide to grants, loan options, and the buying process $30,000 FHOG Document ChecklistGrant for new builds only — get your paperwork right Boost to Buy — 2% Deposit QLDQueensland shared equity scheme, 2% deposit, limited places Mortgage Broker Gladstone QLDCoral Jacobs — local expert, 7am–7pm, 7 days

Not Sure Which Scheme Suits You?

Coral works with first home buyers across Gladstone seven days a week. She will assess your full picture, identify every scheme you qualify for, and connect you with the right lender. No office visit required.

Call Coral: 0409 311 985

AJ Home Loans Gladstone — Coral Jacobs — 0409 311 985 — 48 Monterey Way, Calliope QLD 4680 — Open 7am–7pm, 7 days

This page provides general information only and does not constitute financial advice. Scheme eligibility criteria, property price caps, and lender requirements are subject to change. Always confirm current details with Housing Australia at housingaustralia.gov.au or with an accredited mortgage broker. Lending criteria apply and approval is not guaranteed.