First Home Buyer Schemes in Victoria: Grants, Guarantees and the First Home Super Saver

The first home buyers scheme picture in Victoria has three layers: state stamp duty relief and a grant, federal deposit support, and a super savings scheme. Every figure below comes from the State Revenue Office Victoria (SRO), Housing Australia's first home buyers site or the Australian Taxation Office (ATO), checked on 15 October 2026.

Spotto Finance helps Melbourne buyers line these schemes up with a loan. This guide shows who qualifies, which numbers apply and the order to do things in.

What Is the First Home Buyers Scheme in Victoria?

There is no single scheme. First home buyer support combines state benefits from the SRO with federal programs run through Housing Australia and the ATO.

• State: a stamp duty exemption or concession and the First Home Owner Grant.
• Federal deposit support: the 5% Deposit Scheme and Help to Buy.
• Savings: the First Home Super Saver (FHSS) through your super fund.

How Does the First Home Owner Grant Work in Victoria?

The grant is a $10,000 payment for buying or building a new home. The SRO updated its guidance on 29 September 2026.

• The home must be worth up to $750,000 (the contract price is used for off-the-plan purchases).
• It must be new: never sold, lived in, leased out or used for short-term accommodation.
• At least one applicant must live there for 12 months, starting within 12 months of settlement or completion.
• Most people apply through an approved agent such as their bank, or directly with the SRO within 12 months of settlement.

The state's first home owner grant Victoria rules also count your spouse or partner, even if they are not on the title. You are ineligible if either of you has already received the grant or owned residential property before 1 July 2000. Established homes do not qualify, so first home owners buying existing property rely on stamp duty relief instead.

How Much Stamp Duty Do First Home Buyers Save in Victoria?

Stamp duty relief covers established homes as well as new ones. The SRO updated this page on 15 September 2026.

• Dutiable value up to $600,000: you pay no duty.
• Dutiable value from $600,001 to $750,000: you pay a reduced amount of duty.
• The property can be new, established or vacant land for your first home.
• Dutiable value is the price paid or the market value, whichever is greater.
• A Victoria first home buyer who is an eligible pensioner can claim only one duty benefit per transaction.

The SRO duty calculator gives the exact figure between $600,001 and $750,000. A new home valued up to $750,000 may qualify for both the grant and the duty relief, as the SRO's first home buyer duty page explains.

What Is the Australian Government 5% Deposit Scheme?

Housing Australia now calls it the Australian Government 5% Deposit Scheme. It was formerly the Home Guarantee Scheme, and many lenders and guides still call it the first home guarantee.

• First home buyers need a minimum 5% deposit. Single parents or legal guardians need 2%.
• Since 1 October 2025 the scheme has no income caps, no waitlist and no Lenders Mortgage Insurance (LMI).
• Victorian price caps are $950,000 in Melbourne and Geelong and $650,000 in other areas.
• You apply through a Participating Lender, not Housing Australia. After pre-approval you have 90 days to find a home and sign a contract.
• You must live in the property as an owner-occupier to keep the guarantee.

Both the purchase price and the lender's assessed value must stay at or below the cap. Confirm the cap for your suburb and postcode on the 5% Deposit Scheme page before you make an offer.

How Does Help to Buy Compare With the 5% Deposit Scheme?

Help to Buy is shared equity, not a guarantee. The government contributes to the purchase price and holds an equity share in your home.

• You need a minimum 2% deposit, and the government contributes up to 30% for existing homes or 40% for new homes.
• There are 10,000 places each year, and all applicants must be Australian citizens.
• Taxable income must be at or below $103,000 for individuals or $165,000 for single parents and joint applicants. These thresholds are wage indexed annually.
• You can still claim stamp duty concessions and grants, but not state or territory shared equity schemes, loans or guarantees.

How Does the First Home Super Saver Scheme Work?

The first home super saver scheme lets you save a deposit through voluntary super contributions. The ATO published its current guidance on 8 July 2026.

• You can contribute up to $15,000 in any financial year and $50,000 in total.
• You can withdraw 100% of non-concessional contributions and 85% of concessional contributions, plus associated earnings.
• Concessional contributions are taxed at 15% in your fund, and assessable released amounts get a 30% FHSS tax offset.
• Request an FHSS determination from the ATO before settlement, because you cannot request one once ownership transfers.
• You must be 18 or over, plan to live in the home and not have owned property in Australia, except under hardship rules.

Couples, friends or siblings can each use their own FHSS savings towards the same property. The ATO's FHSS guidance sets out the release steps.

Can You Combine Victorian and Federal First Home Buyer Schemes?

Often yes, but not every pairing works. These points come from the scheme owners.

• The SRO says a new home valued up to $750,000 may also qualify for the First Home Owner Grant.
• Housing Australia lists FHSS savings as usable alongside other government home buying schemes.
• Help to Buy allows grants and stamp duty concessions but excludes state or territory shared equity, loans and guarantees.
• The Victorian Homebuyer Fund is closed to new participants (SRO, updated 29 September 2026), so any guide still promoting it is out of date.

In practice, our team checks the grant, stamp duty exemption and federal schemes at every first home buyer consultation. We confirm eligibility in writing before a lender application is prepared. The free first consultation takes 30 to 45 minutes and can be held in Tamil or English. Spotto Finance then compares 30+ lenders for the loan that fits your scheme.

What Eligibility Mistakes Should You Avoid?

A few rules catch buyers out. These first home buyer tips come from the official guidance, not rumour.

• Assuming the grant covers established homes. It applies to new homes only.
• Forgetting your partner. Their ownership history counts for the grant even if they are not on the title.
• Leaving the FHSS determination until after settlement, when it can no longer be requested.
• Checking only the purchase price. The lender's assessed value must also stay under the 5% Deposit Scheme cap.
• Skipping the residency rule. If you do not live in the home for 12 months, you must notify the SRO within 14 days and repay the grant.

What Does a First Home Buyer Loan Still Need?

Schemes cut the deposit or the duty. You still need a loan that a lender will approve.

• Start with an estimate from the borrowing power calculator. It gives estimates only, not credit advice.
• Ask a mortgage broker in Melbourne to compare lenders, including Participating Lenders for the federal schemes.
• Our first home buyer loan service lists a $0 broker fee on standard residential loans because the lender pays. Any other fee is confirmed in writing first.
• Get pre-approval before you search, so the 90-day clock under the federal schemes works in your favour.

How Do You Buy Your First Home Step by Step?

This is how to buy your first home in Victoria when several schemes are in play. Follow the order below.

1. Check which schemes you may qualify for using the SRO pages and the official eligibility tools.
2. If you are using FHSS, request your ATO determination before settlement.
3. Get pre-approval, then search within your price cap and the $600,000 and $750,000 duty thresholds.
4. Sign the contract. Your bank usually lodges the grant, and your conveyancer or solicitor usually applies for the duty benefit.
5. Settle, move in and live there for the required 12 months.

This article provides general information only and is not financial advice. Scheme rules, thresholds and price caps were checked against official sources on 15 October 2026 and can change. Your personal circumstances may differ. Consult a qualified financial adviser or mortgage broker before making lending decisions. Spotto Finance holds an Australian Credit Licence (CRN 564353).