Boost to Buy is Queensland's shared equity scheme, run by QLD Treasury. Eligible buyers need only a 2% deposit. The government contributes up to 30% equity toward a new home, or up to 25% for an existing home, on properties up to $1,000,000. Round 2 is now open with up to 500 additional places after funding was doubled.
What is the Boost to Buy scheme?
Boost to Buy lets the Queensland Government co-own part of your home. You buy in with a smaller deposit. The government puts in equity instead of lending you money. There is no interest and no rent charged on the government's share while you own the property.
You repay the government's proportional share later. This happens when you sell, refinance it out, or buy the government out over time. The amount you repay reflects the property's value at that point, not the original dollar figure.
The scheme sits alongside other Queensland first home buyer support. It is separate from the QLD First Home Owner Grant and from stamp duty concessions on new builds.
Who is eligible for Boost to Buy?
Income caps apply. A single applicant must earn no more than $155,000 a year. Two adults buying together, or a single applicant with dependants, must earn no more than $232,000 combined.
The property price cap is $1,000,000. This applies across Queensland, covering both new and established homes.
Round 2 opened with up to 500 additional places after the Queensland Government doubled funding for the scheme. Places are limited, so approval is not guaranteed even if you meet the income and price criteria.
Full eligibility rules, including residency and property type requirements, are set by QLD Treasury. Check the official Boost to Buy page for the current settings before you commit to a contract.
How much deposit do I need?
The minimum deposit under Boost to Buy is 2% of the purchase price. This is far below the 20% typically needed to avoid lenders mortgage insurance on a standard loan.
A 2% deposit does not mean you borrow 98% of the price. The government's equity contribution reduces the amount you need to borrow from a lender. Your loan covers the gap between your deposit, the government's share, and the total purchase price.
You still need to pass a lender's normal serviceability check. A pre-approval confirms how much you can borrow before you start house hunting.
How does the government equity share work?
The government's contribution is a percentage of the property's value, not a fixed dollar loan.
- New homes: up to 30% government equity.
- Existing homes: up to 25% government equity.
You can buy back the government's share gradually, in portions, once you have enough equity or income to do so. Most buyers repay the full share when they sell or refinance.
There is a trade-off worth weighing carefully. A smaller loan means lower monthly repayments and an easier path onto the property ladder. But you share future capital growth with the government on the equity portion it holds. Talk through both sides with a broker before you decide the scheme is right for you.
Worked example: $650,000 new build
Say you buy a new home for $650,000 under Boost to Buy.
- Your deposit at 2%: $13,000.
- Government equity share at up to 30%: $195,000.
- Amount left to finance through a lender: $442,000.
Boost to Buy vs the First Home Guarantee: which is better?
Both schemes help first home buyers with a smaller deposit. They work in different ways, so the better fit depends on your income, savings, and how you feel about sharing equity.
| Feature | Boost to Buy (QLD) | First Home Guarantee (Federal) | |---|---|---| | Minimum deposit | 2% | 5% | | Lenders mortgage insurance | Not applicable, government holds equity instead | None, government guarantees the loan | | Government equity in your home | Up to 30% (new) or 25% (existing) | None, you own 100% | | Income caps | $155,000 single, $232,000 joint or single with dependants | None since October 2025 | | Price cap (Brisbane, Gold Coast, Sunshine Coast) | $1,000,000 | $1,000,000 | | Places available | Limited, Round 2 has up to 500 additional spots | Uncapped |
The First Home Guarantee lets you keep full ownership and has no income test, which suits buyers who can manage a 5% deposit. Boost to Buy suits buyers who cannot stretch to 5% and are comfortable giving up part of the future equity in exchange for a smaller loan today.
Some buyers can also combine other support. Eligible first home buyers on new builds can access zero stamp duty, and the QLD First Home Owner Grant of $30,000 remains available on new homes up to $750,000 for contracts signed by 30 June 2026. Compare your options with our first home buyer guide or run the numbers through our calculators.
How do I apply?
Boost to Buy applications go through participating lenders, not directly through QLD Treasury. You will need:
1. Proof of income for the household income test. 2. A signed contract or intention to purchase within price and location limits. 3. Confirmation you meet the deposit and eligibility requirements.
Because Round 2 has a capped number of places, it pays to move early once you have a property in mind. Start with a pre-approval so you know your borrowing position, then talk to a broker who can check which lenders in the panel currently offer Boost to Buy. Not every lender participates, and the paperwork sits alongside your normal home loan application rather than replacing it.
Our first home buyer service covers this alongside grants and stamp duty concessions in one conversation. You can also check current rates with our rate check tool to see how a smaller loan changes your repayments.
Scheme rules, caps, and place availability change over time. Always confirm the current settings directly with QLD Treasury before signing a contract.
Thinking about Boost to Buy? Book a no-obligation consultation with Tom Smith at Kookaburra Finance, Springfield Central. We're FBAA members, accredited with 60+ lenders, and there's no cost to you. Get in touch to see if Boost to Buy fits your situation.