Help to Buy scheme: buy with a 2% deposit
The government contributes up to 40% of a new home's price through shared equity. No LMI, no rent on their share. More than 7,200 Australians have applied since the scheme launched in December 2025, and over 4,800 have already settled or found their home.
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You own it, live in it, and make it yours
Shared equity sounds like shared control. It isn’t. The government is a silent financial partner. They don’t visit, approve day-to-day decisions, or tell you how to live. They contribute up to 40% of a new home or 30% of an existing home, and you pay no rent and no interest on their share. Your name goes on the title, not theirs. When you sell or buy them out, they receive their percentage of the property’s value at that time. That cuts both ways: if the market rises they share the gain, and if it falls they share the loss. That’s the trade-off for needing $12,000 instead of $120,000.
Check your eligibility in 30 seconds
Four questions, instant answer. This is a quick guide only. Your lender and Housing Australia make the final assessment.
Answer the questions above to see your result.
This tool provides general information only and doesn't consider your personal circumstances. It is not credit advice. Eligibility is determined by your participating lender and Housing Australia.
The eligibility criteria in detail
Eligibility is checked when you apply, using the taxable income shown on your latest ATO Notice of Assessment. Income thresholds are wage-indexed and updated each financial year. Here are the core criteria for 2026–27.
Australian citizen aged 18+
All applicants must be Australian citizens aged 18 or over. You can apply alone or with one other person, provided you both meet every eligibility requirement.
No property owned right now
You can’t own or beneficially own any property in Australia or overseas when you apply. You don’t need to be a first home buyer. Returning owners qualify, and exceptions exist for separating single parents buying out a co-owner.
Income under $103,000 / $165,000
Taxable income must be at or below $103,000 for singles, or $165,000 for couples and single parents, per your latest Notice of Assessment. Thresholds are wage-indexed annually.
Minimum 2% deposit saved
You need at least 2% of the property price as your deposit. On a $600,000 home, that’s $12,000. Genuine savings rules still apply.
Owner-occupier for the duration
The property must be your principal place of residence for as long as you’re in the scheme. It can’t be rented out or used as an investment property.
Within your location’s price cap
Caps for capital cities range from $600K in Darwin to $1.3M in Sydney, with lower rest-of-state caps. See the full table below, or our grants hub for every scheme's caps.
Help to Buy price caps by state
Both the purchase price and your lender's valuation must sit at or below the cap for your location. The higher cap also applies in major regional centres: Newcastle & Lake Macquarie, the Illawarra, Central Coast, Mid-North Coast, Coffs Harbour–Grafton and Richmond–Tweed in NSW; Geelong in Victoria; and the Gold Coast and Sunshine Coast in Queensland.
| State or territory | Capital city & regional centres | Rest of state |
|---|---|---|
| New South Wales | $1,300,000 | $800,000 |
| Victoria | $950,000 | $650,000 |
| Queensland | $1,000,000 | $700,000 |
| Western Australia | $850,000 | $600,000 |
| South Australia | $900,000 | $500,000 |
| Tasmania | $700,000 | $550,000 |
| Australian Capital Territory | $1,000,000 | N/A |
| Northern Territory | $600,000 | $600,000 |
Data last updated 6 August 2026. Caps are set by government policy decision and can change, so confirm your suburb's exact cap with the official postcode search tool before you make an offer. Some suburbs span multiple postcodes with different caps.
What buying a $600K home looks like
Without Help to Buy
A 20% deposit means $120,000 upfront. The loan is $480,000. At 6.2% over 30 years, repayments sit around $2,940/month. Under 20% deposit? Add $10,000 to $15,000 in LMI.
With Help to Buy (30% government share)
A 2% deposit means $12,000. The government contributes $180,000 and the loan drops to $408,000. Same rate, repayments fall to ~$2,500/month with no LMI.
That's $108,000 less upfront, ~$440 less per month, and up to $15,000 saved on LMI. The trade-off: the government owns 30% of the value, gains and losses alike, when you sell or buy them out.
Illustrative only. Rates and costs depend on lender, credit profile, and market conditions.
Help to Buy or the 5% Deposit Scheme?
| Services | Help to Buy | 5% Deposit Scheme |
|---|---|---|
| Lowest minimum deposit (2%) | ||
| No Lenders Mortgage Insurance | ||
| You own 100% equity from day one | ||
| 30+ participating lenders | ||
| No income caps | ||
| Government contributes to purchase price | ||
| Lower monthly repayments |
What you get with Help to Buy
- Lowest minimum deposit (2%)
- No Lenders Mortgage Insurance
- Government contributes to purchase price
- Lower monthly repayments
What you get with 5% Deposit Scheme
- No Lenders Mortgage Insurance
- You own 100% equity from day one
- 30+ participating lenders
- No income caps
How to apply
You cannot apply directly through Housing Australia. Applications go through a participating lender. There are now 6: Commonwealth Bank, Bank Australia, Teachers Mutual Bank, Health Professionals Bank, Firefighters Mutual Bank, UniBank.
Stryve compares the participating lenders’ offers, guides you to the right application channel for each, and handles the paperwork so you’re not managing multiple lender conversations yourself.
Stryve charges no fees for Help to Buy applications. We’re paid by the lender, and we disclose that commission upfront.
02
Compare participating lenders
6 participating lenders, panel still growingThe 6 participating lenders offer different rates, features, and application channels. We identify the lender that fits your situation best and prepare your application accordingly.
03
Get conditionally approved
Place reserved for up to 90 daysYour lender submits a conditional approval application to Housing Australia. Once approved, your place in the scheme is reserved for 90 days, with a possible 90-day extension if you need more time.
04
Find your property and settle
New builds, existing homes, and house-and-landSearch within your location’s price cap for a new build, existing home, or land-and-build package. Send us the details before you sign so we can confirm it qualifies. Settlement works like a normal purchase, with Housing Australia’s equity share registered against the property.
05
Move in and work toward full ownership
Buy back the government’s share any timeLive in the home as your principal residence. Over time you can make voluntary payments, refinance to buy out the government’s share, or sell. The government simply receives its percentage of the value at that point.
What our customers
say about us
“Nate and Dylan were extremely helpful in helping us secure our new home. They were easy to contact from day one, and answered any questions we had. We felt reassured at all times and are very grateful for their patience with us. I have recommended Stryve to 3 friends now who have all been successful in achieving their goals of purchasing their homes. We are so happy with the service and will definitely keep on recommending Stryve to our family and friends.”
Whitney Tran
Homeowner
“I never had a problem with Dylan. From the start of our journey on mortgage til the very end and even with refinancing, he/they were very helpful, transparent, honest and really keen to help their clients! Highly recommended.”
Cristianne Del Valle
Homeowner
“On behalf of my husband and I, we would like to truly thank Dylan Bertovic for all his assistance in helping us with our new loan - approved in time before our settlement. Dylan worked above and beyond expected. He took the time to explain every step and process with us. Any questions we had, Dylan would go out of his way to ensure they were answered. He made the process stress free and ensured we got the best possible deal. We highly recommend Dylan to all our family and friends.”
Merna Yalda
Homeowner
“Nate is great to work with, very knowledgeable, responsive and genuinely invested in helping me find the right solution. Highly recommend this firm to anyone looking for reliable, competitive and professional brokerage services.”
Julia
Homeowner
“Dylan has not only been a longtime friend, but also the trusted mortgage broker of choice for my family. He answers the phone at all hours, communicates extensively through all steps of a sometimes-complicated process and manages my risk. He has a straight to the point approach which I appreciate. Simply gets the job done, and gets it done very quickly. Thanks for everything Dylan, you're a champion broker and a good mate.”
Christian Barać
Homeowner
“Nate and Dylan were the ultimate professionals in securing a home loan to help us purchase our first home! Following the purchase of our home, they have continued to provide their exceptional service and have been able to secure two rate reductions in six months! Being self-employed wasn't an issue for me as Nate knew the process back-to-front and was able to provide sound advice throughout the application process.”
Justin Tomas
Homeowner
“It was an absolute brilliant experience with Stryve. Our first purchase was with Dylan he was always clear re: the next steps, quick to respond, never tired of questions and went over and above with communication. We went back and used him again for our next investment and the experience was just as wonderful as the first. Stryve also reviews our loans every 6 months to make sure we are getting the best rates on offer. We couldn't ask for more!”
Amber Motii
Homeowner
Frequently asked questions
Find out if Help to Buy works for you
More than 7,200 applications lodged since launch, with 10,000 fresh places released for 2026–27. Stryve checks your eligibility, compares the participating lenders, and builds your application properly the first time.
Book a strategy callNot sure which schemes you can use? Try the First Home Buyer Scheme Finder