Five programs, two governments, no overlap in the paperwork.

The five at a glance

1. The Australian Government 5% Deposit Scheme

This is the scheme that was called the Home Guarantee Scheme until it was renamed and expanded. Under it, 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 is not lending you money and does not take a share of your home. It is standing behind part of the loan, and you remain responsible for every repayment and every cost.

What changed on 1 October 2025

• The annual limit on places was removed. There is no longer a queue that can run out.
• Income caps were removed entirely.
• Property price caps were increased.
• The separate Regional First Home Buyer Guarantee was folded into the First Home Guarantee.

Eligibility criteria

The published criteria for first home buyers are:

• Australian citizen or permanent resident, at least 18 years old
• A saved deposit of at least 5% of the property value
• A first home buyer, or someone who has not owned property or land in Australia in the last 10 years
• Buying a home in Australia at or below the price cap for that location
• Intending to live in the home as an owner occupier, not as an investment
• Taking an owner occupier loan with principal and interest repayments from a participating lender, over a term of up to 30 years, plus up to three additional years to build a new home
• Applying on your own, or jointly with one other person who can be a partner, friend or family member

Meeting the scheme criteria is separate from getting a loan. You must also satisfy the lender's own credit policy and approval requirements, and it is possible to be eligible for the scheme but declined for the loan.

Single parents and legal guardians

A separate stream of the same scheme allows eligible single parents and single legal guardians to buy with a minimum 2% deposit. It carries its own eligibility criteria, which differ from the first home buyer stream.

How the application runs

1. You cannot apply to Housing Australia directly. Applications are only made through a participating lender, as part of a home loan application.
2. You provide identity documents and a completed Home Buyer Declaration form.
3. Once pre-approved, you have 90 days to find a home and sign a contract of sale.
4. The lender manages final approvals through to settlement.

Obligations that continue after settlement

The guarantee is conditional on continuing to meet obligations, including living in the property as an owner occupier. If those obligations stop being met, the guarantee may no longer apply, and the lender may require lenders mortgage insurance or other additional costs at that point.

2. Help to Buy

Help to Buy is a shared equity scheme, which is a fundamentally different arrangement to the 5% Deposit Scheme. Here the government contributes money towards the purchase price and holds a proportional share of the property in return.

You own the home and live in it. The government's share is secured by a second mortgage held by Housing Australia, and it rises and falls with the value of the property.

The structure

• You save a minimum 2% deposit and take a loan from a participating lender.
• The government contributes up to 30% of the purchase price for an existing home, or up to 40% for a newly built home.
• Because your loan is smaller, lenders mortgage insurance is not payable.
• There are 10,000 places available each year.

The government shares proportionally in any gain or loss when you sell or when you buy out its share. The amount you repay is always based on the value of the property at the time the payment is made, not the amount originally contributed.

Eligibility criteria

• At least 18 years old
• All applicants must be Australian citizens. This is stricter than the 5% Deposit Scheme, which also accepts permanent residents.
• Applying alone or with one other person, where both meet the criteria
• Annual taxable income at or below $103,000 for an individual, or $165,000 for single parents and joint applicants, as shown on the ATO Notice of Assessment for the previous financial year
• Living in the home as your principal place of residence. Renting it out is not permitted
• Not owning or beneficially owning any property in Australia or overseas, with exceptions for single parents buying out a co-owner's share or selling an existing interest
• Not receiving assistance from other schemes, including shared equity schemes, loans or guarantees provided by States or Territories

The published rules state that stamp duty concessions, grants and other exemptions remain available alongside Help to Buy. Income thresholds are wage indexed each year.

Victorian price caps for Help to Buy

Ongoing obligations and how you leave the scheme

While you are in the scheme you must keep meeting the eligibility criteria, maintain the home, keep it insured, and take part in reviews where you provide your insurance certificate, updated income details and information about changes in your circumstances.

There are three ways out: making incremental payments from savings to increase your own share, buying back all or part of the government's equity through additional lending, or selling the home.

Conditional approval reserves a place for up to 90 days, and Housing Australia may extend that by up to another 90 days.

3. First Home Super Saver Scheme

This one has nothing to do with your loan. It is a savings arrangement run by the ATO that lets you build a deposit inside superannuation and withdraw it when you buy.

How it works

• You make voluntary contributions to your super on top of what your employer pays. These can be before tax through salary sacrifice, or after tax as personal contributions.
• The limits are up to $15,000 in any one financial year and $50,000 in total.
• When you are ready to buy, you apply to withdraw those contributions plus associated earnings. The ATO calculates and tells you 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 the financial hardship provisions. Property here includes an 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, so whether your fund supports the scheme is worth confirming before contributing.

4. Victorian First Home Owner Grant

A $10,000 payment from the State Revenue Office. The critical restriction is that it applies to new homes only. An established home does not attract the grant, no matter how well it fits every other criterion.

What counts as a qualifying property

• Located in Victoria and 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

The type of dwelling does not matter. A house, townhouse, apartment or unit all qualify provided you live in it.

Who can apply

• Anyone who will be named on the title must be listed as an applicant
• If you have a spouse or partner, their details must be included even if they will not be on the title, and their history counts when answering the eligibility questions
• All applicants must be natural persons, not a company or trust, and at least 18 at settlement or completion of construction
• 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 a home or other residential property in Australia, jointly or separately, before 1 July 2000
• lived in a home in Australia that either of you owned or part owned on or after 1 July 2000, for a continuous period of at least six months

The third point is the one that surprises people. Owning a property since 1 July 2000 does not automatically disqualify you if you never lived in it for six continuous months. The SRO gives the example of someone who bought a house in 2004 and has always rented it out, and who may still be eligible.

Residency requirement

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 of construction. You may be asked for evidence of occupancy. If you cannot meet the requirement you must notify the SRO in writing within 14 days and repay the grant. Serving members of the Australian Army, Air Force or Navy are exempt from the residency requirement, provided they are enrolled to vote in Victoria. The exemption does not extend to reservists or Australian Public Service staff.

Applying

Most people apply through an approved agent, which is usually the bank or credit union providing the loan. If no approved agent is lodging for you, you can apply directly to the SRO within 12 months of settlement or completion of the build.

5. Victorian first home buyer duty exemption or concession

Land transfer duty, which almost everyone still calls stamp duty, is usually the largest single upfront cost in a purchase. First home buyers in Victoria can have it removed or reduced depending on the dutiable value of the property.

Duty is a state tax. This section sets out what the State Revenue Office publishes about the thresholds and conditions. It is not tax advice, and how duty applies to a particular purchase is a matter for the SRO and for your conveyancer or solicitor.

What "dutiable value" means

It is the price paid for the property or its market value, whichever is greater. Two adjustments matter:

• For off the plan purchases, dutiable value may be reduced if you qualify for the off the plan concession, which can bring a property under the threshold that would otherwise sit above it.
• For vacant land, duty is assessed on the land alone. The value of your building contract 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 years old
• Australian citizens or permanent residents
• purchasing the property as their principal place of residence
• buying the property 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. Note that this test is different, and stricter, than the First Home Owner Grant test. The grant looks at ownership before July 2000 and at whether you lived in a property for six months. The duty test looks at ownership full stop.

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 and live there for 12 continuous months, starting within 12 months of settlement. For vacant land, you must move in by the earlier of 12 months from the issue of the occupancy certificate, or 36 months from the settlement date.

Current members of the Australian Army, Navy or Air Force are exempt from the residency requirement, and all purchasers must be enrolled to vote in Victorian elections. Reservists and Australian Public Service staff are not covered.

How it is claimed

Your conveyancer or solicitor normally claims the benefit through the Digital Duties Form when they complete the property transfer. The SRO states that this exemption can only be claimed once. If duty was overpaid because an exemption or concession was not claimed, a refund can be applied for within five years.

Other duty benefits that are not limited to first home buyers

• Principal place of residence concession, available to any buyer where dutiable value is up to $550,000, with a 12 month residency requirement.
• Off the plan concession for strata apartments and townhouses, a temporary measure open to all buyers including companies and trusts, where the contract is signed between 21 October 2024 and 20 October 2026. The property can be any value and there is no requirement to live in it. From 21 October 2026 the standard off the plan concession applies instead.
• Pensioner and concession cardholder duty reduction. If you qualify for both this and the first home buyer benefit, you can only claim one per transaction and must choose.
• First home owner with a dependent child exemption or concession, a separate benefit for first home buyers with a dependent child, which applies to property at the lower end of the market. The SRO sets out the thresholds and conditions.

Can these be used together?

Partly, and the answer depends on the pair. Here is what the administering bodies actually publish, without our interpretation added on top.