Help to Buy Scheme Now Open for Eligible Home Buyers
Eligible Australians can now apply for the Help to Buy Scheme, a shared equity initiative designed to make home ownership more achievable.
Under the scheme, the government contributes up to 40% of the purchase price for new homes and 30% for existing homes, reducing the upfront deposit and mortgage burden.
To qualify, you must be at least 18, an Australian citizen, meet income limits and have a minimum 2% deposit. The home must be your principal place of residence, and applicants cannot already own property.
Your mortgage broker can help you access the scheme, which is available through participating lenders such as the Commonwealth Bank of Australia and Bank Australia, with more joining in 2026. The scheme supports up to 10,000 buyers each year, helping first home buyers, single parents and essential workers get a foothold in the housing market.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.