Scheme details checked: 4 October 2026. Income figures below apply for 2026–27. Check the linked official rules again before applying.
The Australian Government Help to Buy Scheme helps eligible buyers bridge the gap between their deposit, home loan and purchase price. It is available across Australia, including Victoria, for eligible first home buyers and people returning to home ownership.
How does the Help to Buy Scheme work?
You provide a deposit of at least 2% and obtain a loan from a participating lender. The government can contribute up to 30% for an existing home or 40% for a new home. In return, it shares in the property’s value. There are 10,000 places each year, and eligibility does not guarantee a place or loan approval.
This is repayable shared equity, not a cash grant. The arrangement removes lenders mortgage insurance at purchase. Read the official Help to Buy overview.
Who is eligible?
Applicants must be Australian citizens aged at least 18, live in the home and meet income, property ownership and financial requirements. You generally cannot currently own property in Australia or overseas, although specific single-parent exceptions apply. Applications can include up to two people. The official eligibility rules explain the requirements.
Help to Buy income limits for 2026–27
| Applicant | Maximum annual taxable income |
|---|---|
| Individual, excluding single parents | $103,000 |
| Single parent | $165,000 |
| Joint applicants combined | $165,000 |
The scheme uses the previous financial year’s ATO Notice of Assessment. For 2026–27, that is FY2026. These thresholds are indexed annually, so check the official income threshold updates if your application crosses into another financial year.
Help to Buy property price caps
| Location | Capital city / eligible regional centre | Rest of state |
|---|---|---|
| New South Wales | $1,300,000 | $800,000 |
| Victoria | $950,000 | $650,000 |
| Queensland | $1,000,000 | $700,000 |
| Western Australia | $850,000 | $600,000 |
| South Australia | $900,000 | $500,000 |
| Tasmania | $700,000 | $550,000 |
| ACT | $1,000,000 | Not applicable |
| Northern Territory | $600,000 | $600,000 |
In Victoria, the higher cap covers Melbourne and Geelong. Other eligible regional centres include Newcastle and Lake Macquarie, Illawarra, Central Coast, Mid-North Coast, Coffs Harbour–Grafton and Richmond–Tweed in NSW, plus the Gold Coast and Sunshine Coast in Queensland. Jervis Bay Territory and Norfolk Island have a $550,000 cap; Christmas Island and Cocos (Keeling) Islands have a $400,000 cap.
Use the official postcode checker for the exact location. A cap is a scheme ceiling, not your approved borrowing budget.
Is a 2% deposit all you need?
No. You must contribute the maximum reasonable deposit you can afford and pay buying costs separately, including any stamp duty, conveyancing, inspections and registration fees. The lender assesses your savings, assets, debts and borrowing capacity. Buyers able to purchase without this support do not qualify. The maximum government contribution is not automatic. See the Help to Buy Customer Guide.
For illustration, an existing home costing $600,000 with an approved 30% government contribution and 2% deposit would have:
- Your deposit: $12,000.
- Government contribution: $180,000.
- Home loan: $408,000, before any separate costs.
This arithmetic example assumes approval at those contribution levels. Prepare your own budget using our Victorian buying costs guide.
What happens to the government’s share?
You hold the property title and repay your lender. The government’s contribution carries no rent or interest, but its value changes with the home. You must eventually repay its share through buybacks or sale; repayments may also be required as your financial capacity improves. You must keep the home maintained and insured and participate in reviews. Read the Customer Guide before committing.
For example, if a 30% share remains unchanged and the home later has an assessed value of $700,000, that share would be $210,000. Actual settlement amounts depend on the agreement, valuation and any adjustments.
How to apply for Help to Buy
- Check the scheme rules and your intended property’s price cap.
- Contact a participating lender to assess your finances, eligibility and place availability.
- Prepare your income evidence, savings records, debts and purchase budget.
- Confirm finance and scheme approval requirements with the lender before committing to a purchase.
The participating lender submits your application to Housing Australia and is your key contact through settlement. Contact us to discuss your borrowing options and confirm whether we can assist with your chosen lender’s application channel.
Common Help to Buy questions
Can I use grants or stamp duty concessions too?
Eligible grants and stamp duty concessions can be used alongside Help to Buy. Other government purchase loans, guarantees and shared equity assistance cannot be combined with it. Check each program’s rules. See the official FAQs and our government schemes comparison.
What if my income rises?
A rise above the threshold for two consecutive financial years can trigger an assessment of your ability to repay some or all of the government’s share. Repayment is assessed against what you can afford. The official ongoing eligibility FAQs explain the process.
Can I rent the property out?
The home must remain your main residence while you participate. Paid rental or boarding arrangements, including renting a room, are restricted unless an applicable exception has prior written approval. Check the official occupancy requirements.
Plan the loan as well as the deposit
Start with what you can comfortably repay, the cash you need at settlement and the implications of sharing future property value. Book a home loan discussion with Chris Berry to review your borrowing options, or visit our first home buyer hub.
General information only, not personal financial or legal advice. Scheme participation and lending are subject to assessment and current rules.
