A GUARANTEE, NOT A CASH GRANT
Australian Government 5% Deposit Scheme
Eligible first-home buyers may purchase with a minimum 5% deposit without Lenders Mortgage Insurance under the guarantee.
The lender still assesses your borrowing position, the property and the loan. A lender may require a larger contribution. Buying costs are extra.
Key things I help you check
Applicants must meet citizenship/PR, age, property-history, savings and owner-occupier requirements. The current Victorian price caps are $950,000 for Melbourne/Geelong and $650,000 for other areas; confirm the specific location and valuation with your lender.
Having a deposit does not establish borrowing capacity. If you have enough savings for a 20% deposit after purchase costs, the scheme may not be available.
Mixed residency? A citizen/PR may have a sole-borrower option, subject to other requirements. A joint loan with a temporary-resident borrower cannot use this pathway. We’ll check the structure and borrowing implications rather than assume.
FOR ELIGIBLE NEW HOMES
First Home Owner Grant
A Victorian grant of $10,000 may be available for eligible new homes valued up to $750,000. It does not apply to established homes.
I help you identify the potential pathway and understand the information needed. Approval and payment timing must be confirmed with the approved agent or SRO.
Key things we check
At least one qualifying applicant must meet the citizen/PR/NZ criteria. All applicants and their spouses/partners must meet the relevant property and prior-grant tests. New-home status, value, age and occupancy conditions also apply.
Do not assume the grant will be available as cash for your land deposit or settlement. The payment stage depends on the transaction and application.
A REDUCTION IN TRANSFER DUTY
Victorian First Home Buyer Stamp Duty Exemption or Concession
Eligible Victorian first-home buyers pay no transfer duty on dutiable values up to $600,000, with a tapered concession up to $750,000.
I help you include potential duty costs in the buying plan. Your conveyancer confirms your entitlement and handles the duty claim through the transfer process.
Key things your conveyancer checks
The SRO calls this the “first home buyer duty exemption or concession”. Eligibility includes applicant/partner history, qualifying residency and occupancy conditions. A temporary co-purchaser can have additional foreign purchaser duty considerations.
Dutiable value is generally the higher of price and market value. For vacant land, SRO assesses the land itself rather than adding the building contract. Other concessions need their own assessment.
Policy version 2026.11.3 · Reviewed 2026-10-31. These are separate benefits with separate conditions, not confirmed entitlements. Sources and detailed assumptions are recorded in the buyer tools.