If you're buying your first home in Mackay or the Isaac Region, there are several grants and concessions on offer in 2026. The catch is that each one has its own rules, and some only apply to new homes. We check which ones you qualify for before you start looking, so you know your real budget.
Queensland First Home Owner Grant: $30,000 for new homes
Eligible first home buyers who buy or build a new home valued under $750,000 (including land) can receive a $30,000 grant. The 2026–27 Queensland Budget continued the $30,000 grant for eligible contracts signed from 1 July 2026 and committed it for four years. It doesn't apply to established homes.
No stamp duty on new homes
For contracts dated from 1 May 2025, eligible first home buyers pay no transfer duty (stamp duty) on a new home or on vacant land to build one, with no value cap. On an established home, the first home concession means no duty for homes valued at $700,000 or less, with partial relief for homes valued under $800,000.
From 1 August 2026, Queensland's home and first home concessions are generally limited to Australian citizens, permanent residents and some foreign retirees.
Buy with a 5% deposit and no LMI
Under the Australian Government 5% Deposit Scheme, eligible first home buyers can buy with a 5% deposit without paying lenders mortgage insurance, because the government guarantees part of the loan. Since 1 October 2025 there are no income caps and no limit on places. The price cap for Mackay is $700,000; the higher $1,000,000 cap in Queensland applies to Brisbane, the Gold Coast and the Sunshine Coast. You need to use a participating lender, which is where we come in.
Boost to Buy: 2% deposit with shared equity
Queensland's Boost to Buy scheme lets eligible buyers purchase with a 2% deposit, with the state taking an equity share of up to 30% on a new home or 25% on an existing home. Income limits apply ($155,000 for singles, $232,000 for couples or single parents), the price cap is $1,000,000, places are limited and you must use an approved lender. Your deposit plus the state's share generally needs to reach 20%. In late 2026, regional places were still available through Unity Bank, the approved lender, while South East Queensland places had been taken up.
How we help first home buyers
- Work out what you can borrow across several lenders, not just one bank's calculator
- Check your eligibility for each grant and scheme and apply through the right lender
- Get conditional pre-approval before you make offers
- Coordinate with your agent, solicitor and builder through to settlement
Because our office sits alongside Century 21 Coast to Coalfields, we know the Mackay market and what homes under each cap actually look like. With the Mackay median house price around $725,000 in the first half of 2026 (Opteon), the difference between a new and established home can change which schemes you can use.
Guides
- First home buyer grants in Mackay (2026): what may apply at $550k, $650k, $720k and $780k
- Conditional pre-approval explained: what it is and what it isn't
- The 5% Deposit Scheme explained for Mackay buyers
- Boost to Buy: how Queensland's 2% deposit shared equity scheme works
Common questions
Can I get the $30,000 grant on an established house?
No. The Queensland First Home Owner Grant only applies to new homes, including homes you build, valued under $750,000. You may still pay no or reduced stamp duty on an established home under the first home concession.
What is the 5% Deposit Scheme price cap in Mackay?
$700,000. Mackay falls under "rest of Queensland" for the Australian Government 5% Deposit Scheme. The $1,000,000 cap applies to Brisbane, the Gold Coast and the Sunshine Coast.
Can I combine the grant, the stamp duty concession and the 5% Deposit Scheme?
Often, yes. Many first home buyers buying a new home qualify for all three. Each has its own eligibility rules, so we check them together before you sign a contract. In Mackay, a new home priced between $700,000 and $750,000 can still get the grant but is over the 5% Deposit Scheme cap.
Do I pay a fee to use a broker as a first home buyer?
For most home loans there is no fee to you. The lender pays us a commission, and we disclose it in our Credit Guide and in writing before you proceed.
How long does conditional pre-approval take?
Usually a few days to two weeks, depending on the lender and how quickly your documents come together. We give you a document checklist on the first call.