When you’re ready, all Victorian Homebuyer Fund customers will have the option to buy out the Government’s interest in the property. You can do this by refinancing, using your accumulated savings or when you sell the property.
Victorian Homebuyer Fund
The Victorian Homebuyer Fund has the potential to open the property ownership door for people who may have thought owning their own home was always just out of reach.
.webp)
What is the Victorian Homebuyer Fund shared equity scheme?
From 1 July 2025, The Victorian Government has extended the end date of the Victorian Homebuyer Fund until funds are exhausted and we’re a participating partner.
With rising property prices throughout Victoria, the State Government is stepping in to help Victorians who have the right income but are finding it difficult to scrape a deposit together.
To help you purchase a home, the Victorian Government will use the Victorian Homebuyer scheme to make a financial contribution to the purchase price in exchange for an equivalent share in the property. For example, if you have a 5%* deposit together, the Victorian Government will provide a contribution of up to 25%. That means that you’ll only apply for a mortgage equal to 70% of the value. Aboriginal and Torres Strait Islander participants only require a 3.5% deposit and are eligible for a 35% shared equity contribution.
You can avoid paying Lenders Mortgage Insurance, which can often be quite a cost to home buyers.
The Government does not receive interest on its investment but will share in any capital gains or losses proportionate to its share in the property.
Who it's for
To qualify for the scheme, you’ll need to meet the list of Victorian Homebuyer Fund eligibility criteria below:
- Be an Australian Citizen or Permanent Resident
- 18 years of age or older
- Have a deposit of at least 5%* for general applicants
- Have a deposit of at least 3.5% for Aboriginal or Torres Strait Islander applicants
- Earn $140,230 or less per annum for individuals (excluding single parents), or $223,370 or less per annum for single parents or joint applicants (up to 4 applicants can apply).
- Not own an interest in a property, either separately or jointly with someone else at the time of purchase
Purchasing a property in
- Greater Melbourne and Geelong up to $950,000
- Regional Victoria up to $700,000
Be purchasing
- an existing house, townhouse, unit or apartment or
- a newly built property
- Be the registered owner of the property
- Not also participate in the Federal Government's First Home Guarantee (FHBG), Family Home Guarantee (FHG) or Regional First Home Buyer Guarantee (RFHBG) Scheme through the Home Guarantee Scheme (HGS)
If you do purchase a home through the Victorian Homebuyer Fund, you will still need to cover expenses such as stamp duty and conveyancer costs.
Find out more about the eligibility criteria and eligible suburbs on the Victorian Homebuyer Fund website.
Check out the Victorian Homebuyer Fund fact sheet
Calculators
"The VHF team was fantastic to deal with when applying for a new mortgage."
Dan from VIC
Calculate your borrowing power, work out your repayments and how much you might need to pay for stamp duty
Victorian Homebuyer Fund repayments
Things you need to know
*Stamp duty and other costs payable. Terms and conditions, eligibility and lending criteria apply. Restrictions and obligations imposed after purchase.
Applicants must not enter into a contract of sale to purchase a property prior to receiving pre-approval for a loan from Bank Australia and provisional approval from the State Revenue Office to participate in the Victorian Homebuyer Fund.
Loan applications are subject to Bank Australia credit assessments and approvals. Terms and conditions applicable to your home loan will be included in your loan documentation from Bank Australia.
LiamNeal-08077.webp)
How the Victorian Homebuyer Fund helped this young family find their home
Learn how Nishad and Swarna bought a new home with the Victorian Homebuyer Fund.
.webp)