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.
HOME INSURANCE SORTED, WITH $200 CASHBACK.
If you’re applying for the Australian Government Help to Buy Scheme, you’ll need home insurance in place. Health Professionals Bank can help you arrange cover through our partnership with Allianz1.
Purchase home insurance through Health Professionals Bank and you could receive $200 cashback* on your policy (subject to the terms and conditions).
Please note the link below will redirect you to a partner website. This promotion is not affiliated with or endorsed by the Australian Government, Housing Australia or the Help to Buy Scheme. Participation in this promotion has no bearing on a person's eligibility for, or participation in, the Help to Buy Scheme.
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.
Scheme eligibility criteria apply. Membership eligibility applies to join the Bank. All applications for credit are subject to our lending criteria. Fees and charges apply. You can find our Consumer lending terms and conditions available here or from any of our offices.
Teachers Mutual Bank is a division of Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian Credit Licence 238981 (“Bank”).
1. The Bank arranges the general insurance products referred to above as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (“Allianz”). The Bank acts as an agent for Allianz, and not as your agent or representative. The information provided is general in nature. Neither the Bank nor Allianz provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. To decide if it is right for you, please carefully read the relevant Product Disclosure Statement and Target Market Determination, which are available online or by contacting us. By clicking this link, you will be taken to a website operated and prepared by Allianz. If you purchase or renew this insurance, the Bank will receive a commission from Allianz that is a percentage of the premium depending on the product. The Bank may also be entitled to other forms of remuneration from Allianz. Further details are provided in the Bank’s Financial Services Guide.
*Subject to the promotion terms and conditions $200 cashback will be issued for each new Allianz Home or Home and Contents Insurance policy (an “Eligible Policy”) taken out through Health Professionals Bank between 14/09/2026 and 30/6/2027 (“Offer Period”) by a new and approved Australian Government Help to Buy Scheme customer. The Eligible Policy must be purchased during the Offer Period. The Eligible Policy must not be lapsed or cancelled at the time the $200 cashback is issued. For the purposes of the Cashback Offer, an “Eligible Transaction Account” is an active transaction account held at the Promoter, in the name of the Eligible member. Where a policy has two (2) or more policyholders and they do not hold an Eligible Transaction Account jointly, the Promoter may pay the Cashback into an Eligible Transaction Account nominated for home-loan repayments, provided that account is held by at least one Eligible member. Allianz may withdraw or amend this offer where reasonably necessary. Members may use any insurer that meets the Bank’s insurance requirements. Choosing Allianz does not affect home-loan approval, pricing or settlement. Read the full cashback promotion terms and conditions.