New 2023 BuyAssist Victorian home buyer program income limits are now supporting more people to buy their own home quicker with no deposit required.
BuyAssist has increased the maximum household income a person can earn in order to access our home buyer program shared equity support in Victoria, meaning you may be able to move into your own home sooner.
If you earn below $175,000 you may now be eligible for home buyer support, enabling you to buy your own home without having to save for a 20% deposit. With our shared equity contribution you will avoid Lenders Mortgage Insurance whilst reducing the cost of your mortgage.
New income eligibility is the maximum gross household income you can earn to qualify for our shared equity homeowner support and is based on the number of people in your household.
Our 2023 Victorian home buyer maximum income by household is:
Single – up to $115,000 per annum
Couple – up to $150,000 per annum
Family (Adult(s) with one or more dependants) – up to $175,000 per annum
Family eligibility includes single parents and adult(s) with adult aged dependent children. Other eligibility criteria also applies.
Register your details today to find out if you are eligible for homeowner support.
It is important to note that BuyAssist is not a shared ownership home owner program. You will be 100% on the property title and have all the rights of a normal homeowner. You pay principal and interest on your mortgage whilst our shared equity contribution does not accrue interest. You repay the shared equity home buyer contribution when you have the capacity to refinance or sell the home. New homes to purchase under the BuyAssist program are available across Greater Melbourne and regional Victoria and many are ready to move in today.
As well as BuyAssist shared equity support, you may be eligible for government homeowner incentives such as a First Home Owner grant or stamp duty exemption. BuyAssist also supports second home owners who do not currently own property or land to buy their own home.
Join us for an online information session on Tuesday 28 March 2023 to find out how you can buy your own home through BuyAssist home buyer program support or call us on 1300 652 127 to discuss.
Register Here to join the webinar.
Register to have your program eligibility and mortgage borrowing capacity checked today.
