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First Home Owners & Buyers Grant Victoria

A payment of up to $10,000 is available for eligible first home owners in metropolitan Victoria. Meanwhile, first home buyers building new homes in regional Victoria may be eligible for a FHOG of $20,000.

VIC First Home Buyer Guide

This quick video takes you through the changes made to first home buyer grants and concessions in Victoria in January 2018.

Updated 9 January 2018

First Home Owner Grant and stamp duty savings VIC

First home buyers in Victoria can tap into plenty of financial support to get into the market sooner:

  • Zero stamp duty for first home buyers in Victoria if your first home is worth $600,000 or less
  • Savings on stamp duty for first home buyers who pay $600,000-$750,000
  • Savings on stamp duty for first home buyers who buy off the plan
  • $10,000 first home buyer grant if you buy in a metro area
  • $20,000 first home buyer grant if you buy in regional Victoria
  • New Pilot Shared Equity Scheme – eligible first home buyers only need a 5% deposit to buy a home. The Victorian State Government funds a 25% stake in the property (to be repaid if the home is sold).

It all adds up to give first home buyers in Victoria more opportunities to buy a place of their own. Keep on reading below for more information and the various financial support available in Victoria.

New Pilot Shared Equity Scheme

Under the terms of the new Pilot Shared Equity Scheme, eligible first home buyers will only need to have a 5% deposit in order to buy a home. The Victorian State Government takes a proportional interest of up to 25% in the property.

First home buyers will then be able to take out a loan that is worth 70% of the value of the home (thanks to their 5% deposit and the Government’s 25% stake in the property).

Once the first home buyer sells the property, they will just have to repay the Government’s proportional interest.

To be eligible for the Government support, singles must be earning an annual income of $75,000 or less and couples must have a combined household income of $95,000 or less. 

First Home Owner Grant - Regional Victoria

For contracts entered into between 1 July 2017 and 30 June 2020, the Victorian Government will provide a $20,000 grant to first home buyers purchasing or building new properties in regional Victoria up to the value of $750,000.  

Off the plan purchases

If you are a first home buyer purchasing an off the plan property, you may be entitled to a concession.

Under the terms of the concession, first home buyers will pay duty on the value of the property and construction at the time of the contract date. Generally speaking, when a contract is entered into for an off the plan property purchase, construction won't have started or hasn't yet been completed. As such, first home buyers won’t have to pay as much in duty.

Unfortunately, only first home buyers who occupy the property as their principal place of residence will be eligible for the concession. 

Are you eligible for a First Home Owner Grant?

Applying for the First Home Owner Grant


Talk to your broker
In most cases, your chosen lender will act as an agent for the Revenue Office. Your lender, together with your broker, will make sure you receive the grant if you are entitled to it.


Allow time for processing
Your Mortgage Choice broker will ensure that the First Home Owner Grant funds are available at settlement or at the first progress payment if you are building your home.


If you go direct...
If you apply directly to the Revenue Office, funds will not be available until after settlement or completion of the home if you are building.

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