Second Home Buyers Grant QLD Options
While there is no official Second Home Buyers Grant QLD available through the state government, there are still pathways that can help eligible buyers secure their next home.
If you’re renting after selling your first property and want to buy again, you may be asking: “Are there grants for second-time home buyers in Queensland?” It’s a common question. Although there isn’t a dedicated second home buyers grant, there are several programs and incentives that can make re-entering the property market easier.
Is There a Second Home Owner Grant in Queensland?
At present, there is no government-funded second home owner grant in Queensland. The well-known First Home Owner Grant (FHOG) only applies to those who have never owned property in Australia. That means if you’ve owned a home before – even if you’ve since sold it – you won’t qualify for the FHOG.
So where does that leave second-time buyers? While there is no standalone second home buyers grant QLD, some programs and options may still provide meaningful assistance – particularly if you no longer own any property at the time of application.
Grants for Second Home Buyers: What Are the Options?
1. Family Home Guarantee as a Second Home Buyers Grant QLD Option
This federal initiative may be the best option for eligible second-time buyers. Unlike other schemes, the Family Home Guarantee is not limited to first-time buyers.
You may qualify if:
- You are a single parent or legal guardian with at least one dependent child
- You do not currently own a home
- You are an Australian citizen, aged 18+
- Your income is under $125,000 per year (excluding super)
How it helps:
You can purchase a home with as little as a 2% deposit, with the government guaranteeing up to 18% of the property’s value – reducing or removing the need for Lenders’ Mortgage Insurance (LMI).
This is one of the few options that functions like a second home buyers grant QLD – helping former homeowners re-enter the market if they meet the criteria.
2. First Home Guarantee – 10-Year Rule
Although this program is intended for first-home buyers, some may qualify if:
- They have not owned property in the past 10 years
- They currently do not own any residential property
- They meet income and citizenship requirements
While it won’t apply to most second-time buyers, those who sold their previous home a decade ago may still be eligible. In this case, the First Home Guarantee allows you to purchase with a 5% deposit and no LMI, thanks to a government guarantee.
3. Private Builder or Developer Incentives
Many builders and developers offer their own promotions, which are often referred to (informally) as a second home owner grant. While not government-funded, these offers can include:
- Stamp duty rebates
- Settlement cost contributions
- Cash-back offers
- Free upgrades or discounts on inclusions
These builder incentives vary by provider and region, but they can provide financial relief similar to a grant when building or buying through a participating developer in Queensland.
4. Equity & Guarantor Loans – Other Paths Beyond the Second Home Buyers Grant QLD
If you’ve sold your first home and retained some equity, you may be able to use those funds as a deposit for your next home. Even if your deposit is small, there are ways to reduce upfront costs, such as:
LMI financing – While Lenders’ Mortgage Insurance is often viewed as a burden, it can be helpful – it allows buyers to access the market sooner without needing a full 20% deposit. For many second-time buyers, paying LMI may be a worthwhile trade-off to stop renting and start building equity again
Guarantor loans – A parent or close relative guarantees part of your loan, helping you avoid LMI and sometimes qualify with a lower deposit
What About the Help to Buy Scheme?
You may have heard of the Help to Buy shared equity scheme, which allows buyers to purchase with a 2% deposit and the government contributing up to 40% of the property’s value. However, this scheme is only for first-home buyers – not second-time buyers.
To qualify, applicants must not currently own and in most cases, must never have owned, a residential property in Australia or overseas. If you’ve previously owned a home, you are not eligible, even if you are currently renting.
So while it’s often promoted as a major affordability boost, it unfortunately does not meet the needs of second home buyers.
| Option | Available to Second-Time Buyers? | Key Benefit |
| First Home Owner Grant (FHOG) | ❌ No – for first-time buyers only | N/A |
| Help to Buy | ❌ No – for first-time buyers only | N/A |
| Family Home Guarantee | ✅ Yes – for eligible single parents/guardians | Buy with 2% deposit, no LMI |
| First Home Guarantee (10+ years rule) | ⚠️ Possibly – if no ownership in last 10 years | Buy with 5% deposit, no LMI |
| Builder incentives | ✅ Yes – varies by builder | Stamp duty or cash-back offers |
| Equity/Guarantor options | ✅ Yes | Deposit support or LMI reduction |
No Second Home Buyers Grant QLD: What Are Your Options?
So, is there a Second Home Buyers Grant QLD? Technically, no – there is no official state or federal grant specifically for second-time buyers. However, there are still practical options available, including the Family Home Guarantee, private builder incentives and financing strategies like using equity or guarantors.
If you’re ready to buy your second home and want to know which options are open to you, it’s worth speaking to a mortgage broker like those in our team here at NBHL. They can help assess your eligibility and guide you toward the most cost-effective path back into homeownership. Contact us today and learn how you can buy your second home with the right assistance.
Patrick Cranshaw, a Certified Mortgage Professional for over 21 years, founded North Brisbane Home Loans in 2002. His career began with ANZ Bank in New Zealand, where he progressed over 16 years to a Business Banking role in Virginia. After moving to Brisbane in 2000, Patrick led the QLD market for a home loan agency, helped set up the REMAX Real Estate Finance division, and practiced as a broker.