Seven sheets, formatted for A4.

What it does. Housing Australia gives your lender a guarantee over part of the loan. Because the lender's exposure is covered, lenders mortgage insurance is not charged. The government does not lend you money and does not take a share of your home. You remain responsible for every repayment and every cost.

Eligibility criteria

• Australian citizen or permanent resident, at least 18 years old
• Deposit of at least 5% of the property value (2% for eligible single parents and legal guardians, under a separate stream)
• A first home buyer, or has not owned property or land in Australia in the last 10 years
• Buying at or below the price cap for the location
• Will live in the home as an owner occupier, not as an investment
• Owner occupier loan with principal and interest repayments, term up to 30 years, plus up to three years to build
• Applying alone or jointly with one other person: partner, friend or family member

No income caps apply, and there is no limit on places. You must also meet the lender's own credit policy, so scheme eligibility alone does not mean the loan will be approved.

Victorian price caps

Both the purchase price and the figure returned by the valuation the lender orders must be at or below the cap. For vacant land bought under one contract with a separate build contract, the land price and build cost are added together.

Applying

Only through a participating lender, never direct to Housing Australia. Once pre-approved you have 90 days to find a home and sign a contract. After settlement, the guarantee depends on continuing to meet obligations including living in the property. If those stop being met, the lender may require lenders mortgage insurance or other costs.

What it does. The government contributes towards the purchase price and holds a proportional equity share, secured by a second mortgage. You own the home and live in it. The government shares in any gain or loss.

The structure

• Minimum 2% deposit, plus a loan from a participating lender
• Government contributes up to 30% of the price for an existing home, or up to 40% for a newly built home
• Lenders mortgage insurance is not payable
• 10,000 places available each year

Eligibility criteria

• At least 18 years old
• All applicants must be Australian citizens. Permanent residents are not eligible for this scheme
• Taxable income at or below $103,000 for an individual, or $165,000 for single parents and joint applicants, per the ATO Notice of Assessment for the previous financial year. Thresholds are wage indexed annually
• Will live in the home as your principal place of residence. Renting it out is not permitted
• Do not own or beneficially own any property in Australia or overseas, with limited exceptions for single parents buying out a co-owner
• Not receiving assistance from other schemes, including shared equity schemes, loans or guarantees provided by States or Territories. Stamp duty concessions, grants and other exemptions remain available

Victorian price caps

Ongoing obligations and leaving the scheme

You must keep meeting the eligibility criteria, maintain the home, keep it insured, and take part in reviews covering insurance, income and changes in circumstances. There are three exits: incremental payments from savings, buying back the government's equity through additional lending, or selling. The amount repaid is based on the property value at the time of payment.

What it does. Lets you build a deposit inside superannuation using voluntary contributions, then withdraw those contributions plus associated earnings to put towards your first home. It affects where your deposit is saved, not how the loan is structured.

The limits

How it works

• Contributions can be made before tax through salary sacrifice, or after tax as personal contributions, on top of what your employer pays
• When you are ready to buy, you apply to withdraw. The ATO calculates and confirms the releasable amount
• You must request an FHSS determination before ownership of the property transfers to you
• Couples, friends and siblings can each access their own FHSS savings for the same property

Eligibility criteria

• 18 years or older
• Have never owned property in Australia, unless you qualify under financial hardship provisions. This includes investment property, vacant land, commercial property, certain leases of land, and a company title interest in land
• Plan to live in the home you buy or build
• Have made eligible voluntary contributions into super
• Have not previously withdrawn money under the scheme

Not every super fund releases FHSS amounts. Confirm your fund supports the scheme before contributing.

Tax. This scheme has tax consequences, both on contributions going in and on amounts released. Nothing on this sheet describes or estimates those consequences. They depend on your circumstances and belong with your accountant or a licensed financial adviser. Finseek works in credit and does not provide tax or superannuation advice.

The key restriction. The grant applies to new homes only. An established home does not qualify regardless of how well it meets every other criterion.

Qualifying property

• In Victoria, worth up to $750,000. For off the plan purchases this refers to the contract price
• New, and not previously sold, occupied as a home, leased out or used for short term accommodation. Substantially renovated homes and homes built to replace demolished ones can qualify
• Used as the applicant's principal place of residence
• Purchased or built under a contract signed on or after 1 July 2013
• Any dwelling type: house, townhouse, apartment or unit

Who applies

• Everyone who will be named on the title must be an applicant
• A spouse or partner's details must be included even if they will not be on the title, and their history counts
• All applicants must be natural persons, not a company or trust, and at least 18 at settlement or completion
• At least one applicant must be an Australian citizen or permanent resident at the relevant date. For settlements on or after 26 November 2025, New Zealand citizens are eligible whether or not they hold a special category visa

What makes you ineligible

You cannot receive the grant if you, or your spouse or partner, have already received the First Home Owner Grant anywhere in Australia, owned residential property in Australia before 1 July 2000, or lived in a home you owned or part owned on or after 1 July 2000 for a continuous period of at least six months.

Owning a property since July 2000 does not automatically disqualify you if you never lived in it for six continuous months.

Residency and applying

At least one applicant must live in the home as their principal place of residence for at least 12 months, starting within 12 months of settlement or completion. If you cannot meet this, you must notify the SRO in writing within 14 days and repay the grant. Serving Army, Air Force and Navy members enrolled to vote in Victoria are exempt, but reservists and Australian Public Service staff are not.

Most people apply through an approved agent, usually their lender. Otherwise you can apply to the SRO within 12 months of settlement or completion.

Unlike the grant, this applies to new homes, established homes, and vacant land intended for building your first home.

Dutiable value

The price paid or the market value, whichever is greater. For off the plan purchases it may be reduced if you qualify for the off the plan concession. For vacant land, duty is assessed on the land alone and the building contract value is not included. The SRO publishes a duty calculator that gives a figure for any purchase price.

Eligibility criteria

All purchasers must be natural persons (not companies or trusts), at least 18, Australian citizens or permanent residents, purchasing as their principal place of residence, and buying at market value.

You are not eligible if you, your spouse or your partner have already owned a home or other residential property in Australia. This test is stricter than the First Home Owner Grant test. If you are buying with someone who is not a citizen or permanent resident, foreign purchaser additional duty may apply.

Residency requirement

At least one purchaser must occupy the home as their principal place of residence for 12 continuous months, starting within 12 months of settlement. For vacant land, move in by the earlier of 12 months from the occupancy certificate or 36 months from settlement. Current Army, Navy and Air Force members are exempt, and all purchasers must be enrolled to vote in Victorian elections. Reservists and Australian Public Service staff are not covered.

Claiming it

Your conveyancer or solicitor normally claims the benefit through the Digital Duties Form at transfer. The SRO states that this exemption can only be claimed once. If duty was overpaid because the exemption or concession was not claimed, a refund can be applied for within five years. If you qualify for both this and the pensioner duty reduction, you can only claim one per transaction.

No dollar figures appear on this sheet. Amounts vary by property, provider and lender, and an invented range would be worse than none. Use it as a completeness check.

Applies to almost every purchase

Applies in some purchases

• Lenders mortgage insurance, where LVR is above the lender's threshold and no guarantee or waiver applies
• Owners corporation fees, for strata properties, adjusted at settlement
• Foreign purchaser additional duty, where a purchaser is not a citizen or permanent resident
• Growth areas infrastructure contribution, for certain land in designated growth areas
• Buyer's advocate fee
• Strata or owners corporation report

Begins after settlement

Loan repayments, council rates, water charges, owners corporation levies, building and contents insurance, the emergency services and volunteers fund levy, and maintenance. Land tax is administered by the State Revenue Office, which publishes a principal place of residence exemption and the conditions attached to it. Whether it applies to you is a question for the SRO or your accountant.

Two timing points

The contract deposit is due on signing, not at settlement, so it needs to be accessible on the day. Everything else is due at settlement, and your conveyancer will confirm the figure once adjustments are calculated close to the date.

Cooling off

Section 31 of the Sale of Land Act 1962 (Vic) gives buyers in most private sales of residential and small rural property a right to end the contract within three clear business days of signing. "Clear" means the day of signing is not counted, and business days exclude weekends and public holidays. The right is exercised by written notice to the seller or their agent before the period expires. It cannot be exercised verbally and cannot be revived afterwards. A penalty applies where the right is used, set at the greater of $100 or 0.2% of the purchase price, with the balance of the deposit refunded.

Cooling off does not apply where you buy at a publicly advertised auction, or where the sale happens within three clear business days before or after that auction. Other exceptions exist under the Act. Consumer Affairs Victoria publishes the full list, and your conveyancer can confirm whether the right applies to a specific contract before you sign.

Cooling off is not a finance condition

Cooling off is a statutory right lasting three clear business days that requires no reason. A "subject to finance" clause is a term you negotiate into the contract, can run longer, and operates on its own terms. Once cooling off ends it cannot be used later, including where finance is subsequently declined.

Auction and private sale compared

The section 32 vendor statement

A seller must give the buyer a vendor statement before the contract is signed. It covers title particulars, easements, covenants, planning and zoning, rates and outgoings, connected services, owners corporation details and building permit information. Certificates inside it are dated, and older ones may need updating. Review by a conveyancer or solicitor needs to happen before signing.