Home Loans - Australian Government Help to Buy Scheme
A shared equity scheme designed to make home ownership more achievable.
A more achievable way into home ownership
The Australian Government Help to Buy Scheme is a shared equity initiative that can make home ownership more achievable for both first home buyers and Australians returning to home ownership.
With a deposit from as little as 2%, you may be able to buy a home with support from the Australian Government.
At a glance:
- You need a deposit of at least 2% of the purchase price.
- The Government may contribute up to 30% for an existing home or 40% for a new home.
- You borrow the remaining amount through a participating lender like us.
How the Scheme works
Before you apply, understand who can participate, which properties are eligible, your responsibilities under the Scheme, and how you can work towards full ownership over time.
To be eligible for Help to Buy, you must:
- Be an Australian citizen aged 18 or over.
- Have a taxable income of up to $103,000 as an individual, or $165,000 as joint applicants or a single parent.
- Live in the home as your principal place of residence.
- Not currently own property in Australia or overseas. Some exceptions apply, including certain single parent circumstances.
- Not receive assistance from another shared equity scheme or government home purchase program for the same property. You may still be eligible for state or territory grants and stamp duty concessions.
- Continue to meet the Scheme’s eligibility requirements while participating. If your circumstances change, we’ll review them with you. You may be required to buy back some or all of the Government’s equity share.
You can apply:
- as an individual, or
- jointly with one other eligible person, subject to Scheme rules.
You can buy:
- A new or existing home, including a house, townhouse, apartment, unit or duplex.
- A vacant block of land where you’ll build a new home under an eligible building contract.
- A property that will be demolished and rebuilt under an eligible building contract.
All homes must:
- Meet the Scheme’s property price cap for the location.
- Be your principal place of residence.
- Not be an investment property.
Check the property price caps for your location.
Note: Scheme availability may vary by jurisdiction. Check official Scheme updates for the latest availability.
While you’re in the Scheme, you’ll need to continue meeting eligibility requirements, including:
- maintaining your home
- keeping your home insured
- participating in Scheme reviews by providing information such as your home insurance certificate, updated taxable income details and any significant changes to your circumstances.
If your circumstances change and you no longer meet the Help to Buy eligibility requirements, we’ll work with you to review your situation. You may be required to buy back part or all of the Commonwealth share.
Once you’ve checked that you meet the eligibility requirements, you can register your interest with us in the Australian Government Help to Buy Scheme. We’ll then guide you through the next steps.
After we complete the initial checks, we’ll submit your pre-approval application to Housing Australia for you. If your pre-approval is confirmed, your place in the Scheme will be reserved for up to 90 days while you look for a home.
If you need more time, you can apply for one extension of up to 90 days before the first reservation period ends. Extensions aren’t guaranteed, but your Lending Specialist can talk you through the process.
Help and resources
First Home Buyers guide
From saving your deposit to settlement, our guide walks you through every stage of buying your first home.