Boost to Buy is Queensland's shared equity scheme for first home buyers. It's aimed at people who can afford repayments on a home loan but haven't been able to save a large deposit. Instead of lending you more, the state buys a share of the home with you. Your loan is smaller, and so are your repayments.
Below is how it works, based on the Queensland Treasury overview we checked in October 2026. Places and rounds change, so always confirm the current position on the official page before you plan around it.
How shared equity works
With a standard home loan, you put in a deposit and borrow the rest. Under Boost to Buy, there's a third contributor. You put in at least 2%, the Queensland Government contributes an equity share, and you borrow the balance from a lender.
- Minimum deposit: 2%
- State equity share: up to 30% for a new home, or up to 25% for an existing home
- Price cap: the property price must not exceed $1,000,000
The state's share is in the property itself. You own the rest. The rules on living in the home, buying back the state's share and what happens when you sell are set out on Treasury's eligibility, ongoing obligations and exit process page. Read that page in full before you commit.
Who can apply
The scheme is for first home buyers in Queensland who fall within the income caps, based on the 2026 taxable income year:
- Individuals: up to $155,000
- Two adults, with or without dependants: combined income up to $232,000
- Single applicants with one or more dependants: up to $232,000
Mining and FIFO incomes in the Bowen Basin can sit close to or above these caps, particularly for couples where both partners work on site. Check your taxable income figures carefully before getting your hopes up. Your accountant can confirm your taxable income.
Places are limited
The scheme has $330 million allocated and is expected to support up to 2,000 first home buyers. Places are split evenly between South East Queensland and regional Queensland. They're allocated first come, first served, based on where the property is.
When we checked in October 2026, Round 2 was open with up to 500 additional places. All SEQ Round 2 appointments had been taken, and the scheme's lender was taking appointments for regional Queensland places only. Mackay and the Isaac are regional, but that can change quickly.
When you book, you must say whether you plan to buy inside or outside SEQ. You can only buy in the region you received provisional allocation for.
How you apply
You can't use Boost to Buy with any lender you like. You must go through a lender appointed to the scheme. Treasury's how to apply page sets out the steps, and QRIDA handles enquiries on 1800 623 946.
Before you book, it's worth having your paperwork ready and a clear idea of your budget. We can help you get organised and work out whether Boost to Buy or another option suits you better.
Illustrative example
Illustrative only: say you're buying a new home for $600,000. A 2% deposit is $12,000. If the state took a 30% share, that's $180,000. You'd borrow around $408,000, before costs. Without the scheme, you'd typically need a 20% deposit of $120,000 to avoid lenders mortgage insurance, or you'd borrow a larger amount.
The trade-off is that you own less of the home. Treasury's exit process page explains what happens to the state's share when you sell or want to buy it back.
Boost to Buy or the 5% Deposit Scheme?
Both help first home buyers with a smaller deposit, but they work differently:
- Boost to Buy reduces the size of your loan because the state owns part of the home. It has income caps and limited places.
- The 5% Deposit Scheme lets you borrow up to 95% without lenders mortgage insurance. Since 1 October 2025 it has no income caps and no limit on places. In Mackay and the Isaac the price cap is $700,000.
Which suits you depends on your income, the price range you're looking in and how much you'd like to own outright. Queensland's $30,000 First Home Owner Grant on eligible new homes under $750,000 and the first home duty concessions have their own rules, so check each one. Our first home buyers page covers the wider picture, and if you're on a roster, see mining and FIFO home loans.
Questions to ask before you commit
- Can I afford the repayments on my share of the loan, including if my roster or overtime changes?
- What does the exit process page say about buying back the state's share?
- What happens if I want to renovate, rent out the home or sell?
- Are places still available for my region right now?
Talk it through
If you're weighing up Boost to Buy against other first home options, call or text us on 0458 773 002, or book a free assessment at our contact page. We'll look at your numbers and help you decide whether it's worth booking a place. For most home loans there's no broker fee; any fee is disclosed upfront in our Credit Guide.
Common questions
What deposit do I need for Boost to Buy?
A minimum 2% deposit. The Queensland Government can then take up to 30% equity in a new home or 25% in an existing home.
What are the Boost to Buy income caps?
Up to $155,000 for individuals, and up to $232,000 combined for two adults or for a single applicant with dependants, based on the 2026 taxable income year.
Are Boost to Buy places still available in Mackay?
In October 2026, Round 2 places were available for regional Queensland only, as SEQ appointments had been allocated. Places are limited and first come, first served, so check the Queensland Treasury page for the current position.
Can I use any lender for Boost to Buy?
No. You must go through a lender appointed to the scheme. Queensland Treasury's website lists the current arrangements.
Sources
- Queensland Treasury: Boost to Buy overview
- First Home Buyers: Australian Government 5% Deposit Scheme
- First Home Buyers: Property price caps
- Queensland Revenue Office: First home owner grant
This guide is general information only and doesn't take into account your objectives, financial situation or needs. Talk to us about your circumstances before acting on it. Related: First home buyers.