New program to make home ownership more affordable

The Victorian Homebuyer Fund has been launched to help eligible buyers own their own home sooner. The program works by reducing the amount of deposit that a buyer needs to save for a home loan.

The Victorian Homebuyer Fund is an expansion of the HomesVic Shared Equity Initiative, with broader eligibility criteria. Under the new scheme, participants no longer need to be first homebuyers. Participants can buy in a broader range of locations as well as have higher household incomes than compared to the earlier pilot.

The Victorian Homebuyer Fund is a shared equity scheme, meaning that a financial contribution from the Victorian Government to the purchase price is made in exchange for an equivalent share in the property.

Aboriginal and Torres Strait Islander homebuyers are eligible to receive additional support, including up to 35% Victorian Government contribution and a potentially lower required deposit amount of 3.5%.

For more information and to find out if you’re eligible, visit