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Government programs for first homebuyers

Home under construction

Government programs for first homebuyers can help you buy your home but they typically require you to have a deposit, or they provide a guarantee which means you don’t have the cost of Lenders Mortgage Insurance but your loan payments are higher.

BuyAssist’s shared equity homebuyer program is backed by a leading not-for-profit housing company and is helping aspiring homebuyers living in Victoria buy their own home today without requiring you to have any deposit. It received Victorian Government support to kick-start our program and help support first homebuyers.

If you are looking to buy your own home in Victoria then the BuyAssist homebuyer support program could help you.

A recent article highlights that shared equity homeownership – which can be a government program for homebuyers, or a not-for-profit backed homebuyer program like BuyAssist is a genuine pathway to homeownership in Australia.

Unlike Help to Home government homebuyer program or the Victorian homebuyer fund which both require homebuyers to have a deposit, the BuyAssist homebuyer program does not require you to have any deposit.

If you are a first homebuyer you may also be able to access government programs for homebuyers such as First Home Buyers grants or stamp duty concessions.

Our shared equity program is a proven pathway to home ownership in Australia in 2023 having helped over 100 households buy their own home.

Eligibility for homebuyer help

We invite all aspiring homebuyers to register who haven’t been able to save a deposit to register and have your eligibility checked.

Our program eligibility include steady employment, income limits, permanent residency or citizenship, and general lending criteria. 

To be eligible for BuyAssist homebuyer fund support you must earn:

  • Under $115,000 if you are single.
  • Under $150,000 if you are couple.
  • Under $175,000 if you are one or two adult household with dependent(s).


You don’t need to save for a deposit and your mortgage will be less than 80% of the property price and with BuyAssist homebuyer support you also avoid paying Lenders Mortgage Insurance. 

You don’t pay an interest on the BuyAssist shared equity contribution and when you no longer need the equity support, you repay it so we can help another household buy their own home.

The repayment is based on the support provided when you purchased, calculated as a percentage of the property price.  If we provide 25% of the property price then you repay 25% of the value when you sell.

Importantly, we are not a rent-to-buy or a shared or co-ownership scheme and we don’t require any deposit.

If you are a first homebuyer you may also be eligible for government assistance for first homebuyers.

You own 100% of the property and enjoy all the benefits of home ownership.  

To find out more register here for a no obligation assessment to find out if you are eligible for BuyAssist homebuyer support.