Queensland’s Boost to Buy Shared Equity Scheme: 500 New Places for First Home Buyers.

April 2026

Queensland releases 500 new places under its Boost to Buy shared equity program. First home buyers can enter the market with just a 2% deposit. Learn about eligibility, how the scheme works, and how a mortgage broker can help.

Queensland’s Boost to Buy Shared Equity Scheme: 500 New Places for First Home Buyers

Queensland first home buyers have a fresh opportunity to break into the property market, with the state government releasing 500 new places under its Boost to Buy shared equity program. If you’ve been struggling to save a full deposit, this scheme could significantly reduce the upfront barrier — but there are important details to understand before applying.

What Is the Boost to Buy Scheme?

Boost to Buy is a Queensland Government shared equity program designed to help eligible first home buyers purchase a property with a minimum deposit of just 2%. Under the arrangement, the state government takes an equity stake in the property — up to 30% for new builds and up to 25% for existing homes — effectively reducing the loan amount the buyer needs to borrow.

For example, on an existing property priced at $750,000, the government’s equity contribution could reach $187,500. Combined with a buyer’s $15,000 deposit (2%), the remaining home loan would be substantially lower than a standard purchase, potentially reducing both mortgage repayments and the need for Lenders Mortgage Insurance (LMI).

Round Two: 500 Fresh Places Released

The second round of applications opened on 7 April 2026, bringing the total number of places released to 1,000. The program is scaling toward 2,000 spots over three years under an expanded $330 million funding envelope. Since launch, approximately 150 Queenslanders have already secured a first home through the scheme.

Half of all available spots are reserved for buyers purchasing outside the south-east corner, reflecting the government’s focus on supporting regional home ownership across Queensland.

Eligibility Requirements

To qualify for Boost to Buy, applicants must meet the following criteria:

Income caps: $150,000 for singles; $225,000 for couples or single applicants with dependants
Property price: $1 million or less, located in Queensland
Occupancy: The property must be your principal place of residence
First home buyer status: You must not have previously owned property

It’s worth noting that these income thresholds are relatively generous compared to some federal schemes, which may open the door for a wider range of buyers.

How Does the Application Process Work?

Currently, applications are channelled exclusively through Unity Bank, the only approved lender for the program. The Queensland Government has indicated that more lenders may be added as further places are rolled out in future rounds.

This is where working with an experienced mortgage broker can be particularly valuable. A broker familiar with shared equity schemes can help you understand whether you meet the eligibility criteria, prepare your application, and explore how Boost to Buy interacts with other benefits you may be entitled to — such as the First Home Owner Grant and stamp duty concessions.

How Does Boost to Buy Compare to Federal Schemes?

The federal government’s Help to Buy scheme (expected to commence in 2026) operates on a similar shared equity model, with the Commonwealth contributing up to 40% for new homes and 30% for existing properties. However, there are differences in income thresholds, property price caps, and eligibility requirements between the state and federal programs.

First home buyers in Queensland may be able to combine state and federal assistance, though eligibility for each scheme needs to be assessed individually. Understanding the interaction between these programs — and other state concessions like the $30,000 First Home Owner Grant for new builds — is an important part of the planning process.

Important Considerations

While shared equity schemes can make home ownership more accessible, there are factors buyers should carefully consider:

Equity stake: The government holds a share of your property. When you sell, refinance, or your circumstances change, you may need to repay the government’s equity portion — potentially at a higher property value
Limited lender choice: With only Unity Bank currently approved, borrowers may not have access to the full range of competitive loan products available in the broader market
Property restrictions: The scheme applies only to Queensland properties under $1 million, and the home must remain your principal residence
Future obligations: Understanding the terms around when and how you repay the government’s equity is essential before committing

How a Mortgage Broker Can Help

Navigating shared equity schemes alongside standard home loan options, government grants, and stamp duty concessions can be complex. A mortgage broker can help you explore the full picture — comparing what’s available through Boost to Buy against conventional lending options across 35+ lenders to find the right fit for your financial situation.

At Finance Hub & Networks (FinHub), we’ve helped hundreds of first home buyers across Australia understand their options and move into their first property. With 350+ five-star Google reviews and over $600 million in loans settled, our team is well-positioned to guide you through the process.

Frequently Asked Questions

What is the minimum deposit for Queensland’s Boost to Buy scheme?

Eligible first home buyers can enter the market with a minimum deposit of just 2% of the property’s purchase price. The Queensland Government then takes an equity stake of up to 30% (new builds) or 25% (existing homes), reducing the amount you need to borrow.

Who is eligible for Boost to Buy in Queensland?

You must be a first home buyer purchasing a property in Queensland priced at $1 million or less. Income caps apply: $150,000 for singles and $225,000 for couples or single parents with dependants. The property must be your principal place of residence.

Can I combine Boost to Buy with other first home buyer grants?

The program can be used alongside other Queensland first home buyer benefits, including the First Home Owner Grant and stamp duty concessions. However, eligibility for each program is assessed separately, and it’s important to understand how they interact with your overall financial position.

Which lenders offer Boost to Buy loans?

Currently, Unity Bank is the only approved lender for the Boost to Buy program. The Queensland Government has indicated that additional lenders may be added as more places become available in future rounds.

How do I apply for Boost to Buy?

Applications are submitted through Unity Bank. Working with a mortgage broker who understands shared equity schemes can help ensure your application is properly prepared and that you’ve considered all available options for your situation.

Take the Next Step

If you’re a first home buyer in Queensland exploring your options, our team can help you understand whether Boost to Buy — or another pathway — is the right fit for your circumstances.

Contact Daniel Nguyen at FinHub — 📞 1300 346 482 or visit finhub.net.au