Home Ownership for Aboriginal Victorians

Are you interested in owning your own home?

Victorian Homebuyer Fund

Since its launch in October 2021, the Victorian Homebuyer Fund (VHF) has been helping thousands of Victorians buy their own home.

Aboriginal Housing Victoria is working with the Victorian Government and VHF participating lenders (Bank Australia, Bendigo Bank, Commonwealth Bank and Indigenous Business Australia (IBA)) to support eligible Aboriginal and/or Torres Strait Islander Victorians to apply to the VHF.

How does the VHF help Victorians to buy a home?

The shared equity model offered through the VHF can help you own your own home sooner.

Eligible Aboriginal and/or Torres Strait Islander applicants need a minimum 3.5% deposit (plus acquisition costs) to get started. The VHF will then contribute up to 35% of the purchase price, in exchange for an equivalent share in the property. The Government's contribution decreases the size of the mortgage you will require to buy a home, as. well as the deposit you will need to save, meaning you can get into your own home sooner.

Up to four people can make a joint application to buy a property together through the VHF.

Who is eligible for the VHF?

To be eligible for the VHF, you need to:

  • Be an Australian or New Zealand citizen or permanent resident
  • Be at least 18 years old
  • Not own any land or other properties in Australia or overseas, either on your own or with someone else
  • Be an owner-occupier and registered owner of the property you plan to buy
  • Have a taxable income not exceeding $128,000 as a single income, or $204,800 for a household

For the full list of eligibility criteria, please visit the VHF website.

Through the VHF, eligible participants can purchase a property valued up to $950,000 in metropolitan Melbourne or Geelong, or up to $600,000 in regional Victoria.

To qualify for Aboriginal and/or Torres Strait Islander supports (a lower minimum deposit of 3.5% plus acquisition costs and a higher contribution to the property price of up to 35%) you will also need to provide a Confirmation of Aboriginality (CoA). 

If you don’t have a COA, give Aboriginal Housing Victoria a call for some guidance on how to get one.

If you cannot provide a COA, you can still enter through the broader program, which provides up to 25% of the property’s purchase price and requires a minimum 5% deposit plus acquisition costs.

Check your eligibility!

Check if you are eligible to enter the VHF by completing the eligibility assessment tool on the VHF website here. It will only take 5 minutes!

You can also call or email Aboriginal Housing Victoria to talk about the VHF.

Key Contacts for the VHF

State Revenue Office (Administrator of the VHF):

Phone: (03) 7020 1549

Email: homebuyer@sro.vic.gov.au

Website: www.sro.vic.gov.au/homebuyer

Aboriginal Housing Victoria:

Free Call: 1800 248 842

Phone: (03) 9403 2100

Email: homebuyer@ahvic.org.au

Bank Australia:

Phone: 132 888 – Australia-wide

Website: https://www.bankaust.com.au/banking/home-loans/victorian-homebuyer-fund

Bendigo Bank:

Phone: 1300 236 344 (in Australia)

Website: https://www.bendigobank.com.au/personal/home-loans/victorian-homebuyer-fund/

Commonwealth Bank:

Phone: 13 2221

Website: https://www.commbank.com.au/home-loans/victorian-homebuyer-fund.html

Indigenous Business Australia (IBA):

Phone: 1800 107 107

Website: https://iba.gov.au/home-ownership/iba-housing-loan-features/victorian-home-buyer-fund