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Buy sooner with a deposit from 2%
Eligible buyers may be able to purchase a home with a deposit from 2% of the property value, helping reduce the upfront savings required to enter the property market.
The Australian Government 5% Deposit Scheme and Help to Buy Scheme have expanded support for eligible home buyers, helping more Australians enter the housing market sooner with lower deposits, increased property price caps and broader eligibility criteria.*
Buying your first home can feel overwhelming and constantly changing. The Help to Buy scheme is designed to help more Australians achieve home ownership by making it easier for eligible buyers to get into a home sooner.
Here’s a simple guide to the Help to Buy scheme, what it means for home buyers in Victoria, and how Homebuyers Centre and Resolve Finance can help you take the next step.
What is the Help to Buy Scheme?
The Help to Buy Scheme is a federal Australian Government shared equity scheme administered by Housing Australia. Under the scheme, the Australian Government contributes up to 40% of the purchase price for eligible newly built homes or up to 30% for eligible existing homes, helping reduce the amount eligible buyers may need to borrow.
Eligible home buyers may be able to purchase with a deposit from 2%, subject to eligibility criteria, lender assessment and property price caps.
On this guide, you’ll learn:
- How the scheme works
- Help to Buy eligibility
- Property price caps in Victoria
- How to apply
At Homebuyers Centre Victoria, we help first home buyers better understand the pathway to building, including construction finance and first home buyer support in Melbourne and Victoria, with lending questions handled by Resolve Finance.
Snapshot of the Help to Buy Scheme
The Australian Government Help to Buy Scheme is a shared equity initiative administered by Housing Australia, designed to help eligible buyers enter the property market sooner with a smaller deposit and reduced borrowing.
Under the scheme, buyers apply through participating lenders, while the Australian Government contributes towards the purchase price of eligible newly built or existing homes in exchange for an ownership share.
| Feature | Your contribution | Government support |
|---|---|---|
| Deposit | Minimum deposit from 2% | Helping eligible buyers reduce upfront savings required |
| Home loan | Apply through a participating lender | Borrowing capacity and serviceability assessed by lender |
| Government contribution | You remain the registered owner | Up to 40% for newly built homes or 30% for existing homes |
| Note: Information is indicative only and subject to Government eligibility criteria, participating lender requirements and policy updates. Click for full details. | ||
If you’re considering applying, the next step is understanding how Help to Buy works alongside your deposit, borrowing capacity and construction finance options.
How the Help to Buy scheme works
Under the Help to Buy shared equity model, eligible buyers combine their deposit and home loan with an Australian Government contribution towards the purchase price. Here’s how it works:
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Speak with a finance specialist
Speak with a finance specialist, such as Resolve Finance, to better understand your eligibility, borrowing capacity, upfront costs and home loan options.
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Government contribution may apply
If eligible, the Australian Government may contribute up to 40% for eligible newly built homes through the Help to Buy shared equity scheme.
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Purchase or build as an owner-occupier
Approved buyers can proceed to purchase or build a home as their principal place of residence. Investment properties are not eligible under the scheme.
Note: Eligibility criteria, participating lender requirements and Government scheme settings apply.
Read the full disclaimer.
Understanding the Government’s Contribution
Under the Help to Buy shared equity model, the Australian Government may contribute up to 40% towards the purchase price of eligible newly built homes through Housing Australia. In exchange, the Government takes a commonwealth share in the property, while you remain the registered owner of your home.
When the property is sold, or if you choose to repay the government’s equity share, the Australian Government will proportionally share in any gains or losses based on its ownership share.
Ongoing obligations apply under the scheme, and if buyers no longer meet the eligibility requirements on an ongoing basis, repayment conditions may apply.
The example below provides a simplified guide to how the Government contribution may work alongside your deposit and home loan:
| Example purchase | Amount |
|---|---|
| New Homebuyers Centre house and land package price | $650,000 |
| Your 2% deposit | $13,000 |
| Government 40% contribution | $260,000 |
| Approximate home loan | $377,000 |
| Combined deposit + Government share | 42% |
| This example is indicative only and does not consider your personal circumstances. Eligibility criteria, lender assessment and potential Lenders Mortgage Insurance outcomes apply and are subject to state and/or federal government requirements. Read full disclaimer | |
Speak to a consultant
Speak to a New Homes Consultant to explore your options and connect with our trusted finance partner, Resolve Finance. Their finance specialists can guide you through the process and help you understand current State Revenue Office Victoria requirements and Housing Australia program criteria.
This example is indicative only and does not consider your personal circumstances. Eligibility criteria apply and are subject to state and/or federal government requirements. Visit www.sro.vic.gov.au for full details. Financial services are provided by Resolve Financial Solutions Pty Ltd trading as Resolve Finance (ABN 65 079 545 378, Australian Credit Licence 385487). Homebuyers Centre is a building practitioner (ABN Group (Vic) Pty Ltd, CDB-U 49215). Images are for illustrative purposes only.
Who is eligible for Help to Buy?
Help to Buy is designed to support lower-to-middle income Australians looking for a more accessible pathway into home ownership, including first home buyers, eligible single parents, key workers and joint applicants.
What Housing Australia looks at
- You must be an Australian citizen or permanent resident aged 18 years or older.
- Annual taxable income must generally be below $100,000 for individual applicants or $160,000 for joint applicants.
- You must not own other land or residential property in Australia or overseas at settlement.
- The new or existing home must be within the maximum purchase price for its location.
- The property must be owner-occupied as your principal place of residence.
- You must meet participating lender credit checks and Help to Buy eligibility requirements.
- Help to Buy generally cannot be combined with other Australian Government shared equity schemes.
What this may look like in practice
A first home buyer in Geelong, or a couple in Melbourne’s west, may fit the target profile if they meet the income caps, have a genuine deposit and purchase within the applicable property price cap.
If your annual income is above the cap, or you already own residential property, Help to Buy may not be available. Other support pathways may still apply, including the 5% Deposit Scheme, First Home Owner Grant and other Victorian home building grants or assistance schemes.
Check your eligibility using the official Help to Buy Eligibility Tool.
Help to Buy in Victoria
Help to Buy is available in Victoria through participating lenders within the Victorian property price caps. The scheme is separate from the closed Victorian Homebuyer Fund.
Victoria passed the required enabling legislation ahead of the scheme opening on 5 December 2025.
Current Victorian property price caps include:
- $950,000 for Melbourne and Victorian regional centres
- $650,000 for other regional Victorian areas
Depending on your circumstances, Help to Buy may sit alongside broader first home buyer support options available across Victoria, including grants, guarantees and construction finance pathways.
Help to Buy vs Victorian Homebuyer Fund
| Feature | Help to Buy | Victorian Homebuyer Fund |
|---|---|---|
| Status | Open since 5 December 2025 | Closed to new applications |
| Who runs it | Federal Government, administered by Housing Australia | Victorian State Government |
| Mechanism | Shared equity, up to 40% for eligible new homes and 30% for eligible existing homes | Shared equity, up to 25% |
| Help to Buy is the current Australian Government shared equity scheme. The Victorian Homebuyer Fund is closed to new applications. | ||
Looking to explore where Help to Buy could support your path into a new home? Discover the communities, house and land packages and build locations available across Melbourne and regional Victoria.
Property Types and Price Caps in Victoria
Help to Buy may support eligible newly built and existing homes across Victoria, provided the total purchase price remains within the applicable property price caps set by Housing Australia.
With continued investment in new housing supply through the Federal Budget 2026–27, newly built homes, house and land packages and townhouse developments may provide more opportunities for Victorian buyers to purchase within the applicable Help to Buy property price caps.
New Builds and house and land packages
Eligible buyers may be able to purchase newly built homes, including house and land packages, under the Help to Buy Scheme. Building new can provide greater flexibility around home design, energy-efficient inclusions, layouts and location, while also helping buyers explore opportunities within newer communities and growth areas across Victoria.
For many buyers, building new may also create more opportunities to remain within the applicable property price caps, particularly across Melbourne’s growth corridors where new land releases continue to expand.
Townhouses
Help to Buy may also apply to eligible newly built townhouses and off-the-plan developments that fall within the relevant property price cap for the area.
For many Victorian buyers, townhouses can offer a more accessible pathway into well-connected communities, combining contemporary layouts, lower-maintenance living and modern inclusions with locations closer to transport, schools and established amenities. Townhouse living options may also create more opportunities to purchase within metropolitan price caps where detached housing may become less attainable.
Existing dwellings
Eligible existing homes may also qualify under the Help to Buy Scheme, provided the property falls within the applicable price cap and meets eligibility requirements.
However, for some buyers, newly built homes or townhouses may provide greater flexibility around pricing, modern inclusions, energy efficiency and construction options when compared to established homes in higher-priced areas.
