Home loan guide
Help to Buy is open. Check the deposit, current income limits, property price caps and what sharing equity with the government means for you.
Help to Buy is open for applications. It lets eligible buyers purchase a home with a deposit from 2% and a government equity contribution, reducing the mortgage they need.
Before you plan around a 2% deposit, I'd check whether you qualify and what sharing the home's future value means for you. A smaller mortgage now needs to work alongside your plans to sell, refinance or buy back the government's share later.
The Australian Government Help to Buy Scheme can contribute up to 30% of an existing home's price or up to 40% for a new home. Your deposit and a mortgage cover the rest.
You own the property and live in it. The government holds a financial interest in its value. The amount you eventually repay changes with the value of the home.
Both first-home buyers and previous owners may qualify. You generally cannot own other property when you apply, with limited exceptions for single parents.
Hypothetical example: for a $700,000 new home with the maximum 40% government contribution, a $14,000 deposit plus $280,000 from the government leaves a $406,000 mortgage. Buying costs are extra. A lender must still assess the application.
You can buy back the government's share over time or repay it when you sell. Housing Australia can also require repayments after a financial review where you have capacity to pay.
The repayment is based on the property's value at that time. In a hypothetical example, a 40% contribution towards a $700,000 new home is $280,000. If the home is later valued at $800,000 and that share is still 40%, buying it back would cost $320,000. This assumes no adjustment to the share or transaction costs.
A rise in your home's value can make the buyback more expensive. I would include that in your plan from the start.
Check to see if you are eligible for a home loan
If you can buy without shared equity, compare the 5% Deposit Scheme as well. You cannot combine the two schemes on the same purchase.
Applications opened on 5 December 2025. Help to Buy is now available in all states and territories.
From 1 July 2026, annual indexation increased the income limits to $103,000 for a single applicant and $165,000 for single parents and joint applicants. The income test for 2026/27 uses your 2025/26 ATO Notice of Assessment. Property price caps are set separately and did not automatically rise with this indexation.
Contact a participating lender. The lender checks your financial position and submits your application to Housing Australia. You cannot apply directly to Housing Australia.
Prepare identification, your latest Notice of Assessment, deposit evidence and details of income, debts and expenses. Before signing a contract, confirm the property qualifies and get legal advice about the shared equity arrangement.
Use the official eligibility tool as a starting point, then confirm your position with a participating lender.
I'd check the cap for the property's postcode before you start making offers. These are the maximum purchase prices allowed under the scheme.
State / Territory | Area | Maximum Property Price (Cap) |
New South Wales (NSW) | Capital city & regional centres | $1,300,000 |
Rest of NSW | $800,000 | |
Victoria (VIC) | Capital city & regional centres | $950,000 |
Rest of VIC | $650,000 | |
Queensland (QLD) | Capital city & regional centres | $1,000,000 |
Rest of QLD | $700,000 | |
Western Australia (WA) | Capital city | $850,000 |
Rest of WA | $600,000 | |
South Australia (SA) | Capital city | $900,000 |
Rest of SA | $500,000 | |
Tasmania (TAS) | Capital city | $700,000 |
Rest of TAS | $550,000 | |
Australian Capital Territory (ACT) | Capital / all areas | $1,000,000 |
Northern Territory (NT) | All areas (or capital / regional) | $600,000 |
Check the official property price caps and postcode tool before making an offer. A price cap is not a borrowing approval.
Read the Help to Buy Customer Guide with your solicitor before signing. Make sure you understand when repayments can be required and what happens if your plans change.
Would you like to learn about your situation?
I'd compare the repayments you can manage now with the cost of buying back the government's share later. Help to Buy may help when your savings and borrowing capacity fall short. Whether it suits you also depends on how long you plan to stay and how you expect to leave the scheme.
We can help you compare low-deposit options, including the 5% Deposit Scheme. For a Help to Buy application, confirm the available application channel with a participating lender.
No. You do not pay rent or interest on the government's equity contribution. You only pay your mortgage repayments to your lender.
Yes. You can progressively buy back the government's share at market value through voluntary payments. You must also repay it when you sell or exit the scheme.
You must live in the home as your principal residence and keep it insured and well maintained. Regular income reviews also apply to ensure continued eligibility.
Eligible properties include new builds, off-the-plan homes, and existing residential properties. All homes must fall within the scheme's property price caps.
Use Housing Australia's current participating-lender list. Your lender assesses the home loan and submits the scheme application on your behalf.
There are 10,000 places available each year. Applications go through participating lenders and depend on eligibility and availability.
Eligible grants and stamp duty concessions can be used with Help to Buy. You cannot combine it with the Australian Government 5% Deposit Scheme or other government shared equity, loan or guarantee assistance for the same purchase. Check each benefit separately.
When you sell, the government receives its percentage share of the sale price. This means your repayment increases if the property has risen in value.
You repay its share when you sell or leave the scheme. You can also make voluntary buybacks, and Housing Australia may require payments following a financial review. Refinancing to a non-participating lender requires a full buyout; refinancing within the panel is subject to approval.
You are fully responsible for council rates, maintenance, and repairs. The government does not contribute to ongoing property costs.
No. The property must remain owner-occupied at all times. Renting it out breaches the scheme conditions.
It depends on what is holding you back. Help to Buy reduces the mortgage through shared equity. The Australian Government 5% Deposit Scheme helps eligible buyers avoid LMI while keeping the full equity interest. Compare the repayments, savings needed and future obligations.
The government shares in any increase in the property's value, so you keep less of that gain than you would with full ownership. In return, you need a smaller mortgage at the start. I'd compare what you can afford now with the cost of buying back the share later.
If you are weighing up Help to Buy against another low-deposit option, our team can help you compare the deposit, repayments and obligations. Your Help to Buy application goes through a participating lender.
Call 1300 088 065 or book a free assessment to work through your buying options.
Checked 30 September 2026.
