How the split works
You put in as much as you can, with at least a 2% deposit, and borrow what a participating lender will lend after assessing your finances. The Government contributes the rest, at least 5% of the price and enough to keep your loan at 80% or less, up to 30% for an existing home or 40% for a new one.
Housing Australia's own example: Rob buys an existing home for $800,000 with a $16,000 deposit, and his lender will lend $544,000. The Government contributes $240,000, a 30% share, and Rob's loan is 68% of the price. The calculator reproduces it exactly.
Price caps
| State | Capital city and regional centres | Rest of state |
|---|
| NSW | $1,300,000 | $800,000 |
| VIC | $950,000 | $650,000 |
| QLD | $1,000,000 | $700,000 |
| WA | $850,000 | $600,000 |
| SA | $900,000 | $500,000 |
| TAS | $700,000 | $550,000 |
| ACT | $1,000,000 | n/a |
| NT | $600,000 | $600,000 |
Regional centres are Newcastle and Lake Macquarie, Illawarra, the Central Coast, the Mid-North Coast, Coffs Harbour to Grafton and Richmond to Tweed in NSW, Geelong in Victoria, and the Gold and Sunshine Coasts in Queensland. Caps are set by postcode, so check the exact suburb. The Help to Buy caps differ from the 5% Deposit Scheme's in NSW and the NT.
Help to Buy or the 5% Deposit Scheme?
Help to Buy needs a smaller deposit and gives you a smaller loan and lower repayments, but the Government shares in the growth until you buy it out. The 5% Deposit Scheme needs a bigger deposit and loan, and every dollar of growth is yours. Help to Buy also has income limits and is only for citizens; the 5% Deposit Scheme has no income limit and is open to permanent residents too. The comparison under the calculator shows both for your numbers.
Questions people ask
How does Help to Buy work?+
You buy with a deposit of at least 2%, and the Government contributes between 5% and 30% of the price for an existing home, or up to 40% for a new one, in exchange for that share of the home. Your loan stays at 80% of the price or less, so there's no lenders mortgage insurance. You pay no rent or interest on the Government's share, but it rises and falls with the home's value.
Who is eligible for Help to Buy?+
Every applicant must be an Australian citizen aged 18 or over, own no property in Australia or overseas, and live in the home. For approvals in 2026-27, taxable income on last year's notice of assessment must be $103,000 or less for a single applicant, or $165,000 or less for joint applicants and single parents.
Can I use Help to Buy with the 5% Deposit Scheme?+
No. You can't combine Help to Buy with other Australian Government shared equity or guarantee schemes, or state shared equity schemes and guarantees. You can still claim first home owner grants and stamp duty concessions.
What happens if my income goes over the limit?+
If your taxable income is above the limit for two financial years in a row, you may be required to buy back part or all of the Government's share, depending on what you can afford. Your lender assesses it with you.
How do I pay the Government back?+
Whenever you can: buy back part of its share with savings or extra borrowing, in steps of at least 5% of the home's value at the time, or all of it when you sell. The amount is always based on the home's value when you pay, not what it cost.
How many Help to Buy places are there?+
10,000 a year, through participating lenders. You can't apply to Housing Australia directly.
Sources