Australian Government Help to Buy Scheme 2026

The Federal Help to Buy scheme has now opened to assist eligible NSW buyers with low/middle incomes, permitting a minimum 2% deposit for 30%-40% government equity, avoiding Lenders Mortgage Insurance (LMI).

The Australian Government’s Help to Buy Scheme is a new initiative designed to make home ownership more achievable for more Australians.

If you’ve done the hard work of saving but still find yourself just short of being able to purchase a home that truly suits your needs, Help to Buy may be the support that bridges the gap.

Whether you’re stepping into the market for the first time or returning after time away, the scheme provides shared‑equity assistance to help you secure a place to call home. With 10,000 places available each year, Help to Buy is opening the door for thousands of Australians to move forward with confidence

Who Is Eligible For The Help To Buy Scheme?

Eligibility criteria to qualify for Help to Buy include:

• minimum age – must be at least 18 years old
• deposit – minimum 2% of the home purchase price
• citizenship – must be Australian citizens
• single and joint applicants – you can apply to the Scheme either alone or together with one other person, provided you both meet the eligibility criteria
• income – must have an annual taxable income at or below $100,000 for individual applicants or $160,000 for single parents and joint applicants, as shown on the ATO Notice of Assessment (NOA) for the previous financial year
• owner-occupier – must live in the home as the principal place of residence whilst a part of the scheme (investment properties are not eligible)
• property ownership – cannot currently own any property in Australia or overseas. There are exceptions for single parents who own property jointly with someone else and want to buy out the other person’s share or intend to sell their existing ownership
• other Australian Government assistance – cannot receive help from other schemes, including shared equity schemes, loans or guarantees provided by States or Territories to support the purchase. However, you can still benefit from stamp duty concessions, grants and other exemptions.

What Type Of Home Can I Buy?

Help to Buy can be used to purchase a newly built or existing home anywhere in Australia, as long as the property falls within the price cap for your location.

You can use the scheme to buy:

• a new or established home — including a house, townhouse, apartment, unit or duplex
• a vacant block of land to build a new home, or a property that will be demolished and rebuilt, provided you have a comprehensive building contract with an eligible builder.

Your Ongoing Obligations and Exiting The Scheme

While you’re participating in the Australian Government’s Help to Buy Scheme, you’ll need to continue meeting the eligibility requirements. This includes:

• maintaining your home to a reasonable standard
• keeping your property appropriately insured
• taking part in periodic reviews, such as providing updated income information and notifying the Scheme of any significant changes to your personal circumstances.

Help to Buy is designed to help you enter the property market, not to remain in shared equity forever. Once you’re settled in your home, you can begin working toward full ownership at a pace that suits your situation.

There are several ways to exit the Scheme:

• making gradual repayments from your savings to increase your share of the equity
• buying back some or all of the Government’s equity through additional lending
• selling your home.

You may also have other ongoing obligations once you become a participant. For full details on responsibilities contact us to discuss your situation and see how we can help you purchase your first home.

FAQS

How can a mortgage broker help me with a home loan?

A mortgage broker can save you time by doing the legwork of comparing various home loan products from multiple lenders. Instead of dealing directly with one bank, the broker works with a range of lenders to find the best deal that suits your financial situation. When you work with a mortgage broker, they act in your best interest and offer personalised advice on the mortgage options that align with your needs.

What is the difference between a mortgage broker and a bank?

In a mortgage broker vs. bank comparison, a bank provides its own home loan products directly, while a mortgage broker works with multiple lenders to offer a range of options. Going straight to the bank limits your choice to what that bank offers, whereas a broker can help you find better terms and potentially lower rates by comparing products across banks and lenders. It really depends on whether you prefer a more tailored approach or working directly with your existing bank. Also the bank may not be willing to offer finance based on your current situation, a mortgage broker will direct you to the lender where you will most likely receive a loan approval, instead of a declined loan.

What loan options are available to borrowers?

Borrowers can choose from several loan options depending on their needs. A mortgage broker can help you explore different types of mortgage products, including fixed-rate home loans, variable rate mortgages, or specialist mortgage products. The broker may be able to help you get a loan directly from a bank or through another financial institution, depending on which option offers the best rates and terms.

What are the benefits of using a mortgage broker and a bank together?

When you use a mortgage broker and a bank, you get access to a wider range of products. Brokers have access to loan options from multiple lenders, not just one bank. By using a broker, you can get a mortgage that is more tailored to your financial goals, while still benefiting from the trust and security of a bank home loan. Brokers and banks often collaborate to provide the best solutions for borrowers.

How do I choose a mortgage broker?

To choose a mortgage broker, look for one who has experience, industry knowledge, and access to a wide network of lenders. A good broker will help you navigate the complexities of the loan process, compare mortgage options, and save you time by finding the best deal. It’s important to select a broker who acts in your best interest and understands the type of mortgage that best suits your financial situation.

Can a mortgage broker get me a better deal than going straight to the bank?

In many cases, a mortgage broker may be able to find a better deal than going straight to the bank. Because brokers work with multiple lenders, they can offer a broader selection of mortgage options and may have access to exclusive rates or deals that a bank might not offer directly. Whether to go through a mortgage broker or go straight to the bank depends on how much flexibility and variety you want in your loan products.

What should I know when applying for a home loan through Artemis Finance?

When applying for a home loan through Artemis Finance, it’s important to understand your financial situation and the loan products available. A mortgage broker will guide you through the process, help you compare rates from various lenders, and ensure that the loan you choose meets your home-buying needs. Artemis Finance works with both banks and mortgage lenders to offer the best home loan solutions for each borrower.