First Home Buyer Grants & Concessions in Victoria — 2026 Guide

Buying your first home in Victoria? The good news is there are several government grants and concessions designed to help you get there sooner. The not-so-good news? It can be confusing to figure out what you're actually eligible for.

This guide breaks down every first home buyer benefit currently available in Victoria, how to access them, and what the eligibility criteria look like — all in plain English.

1. First Home Owner Grant (FHOG) — $10,000

The Victorian Government offers a $10,000 grant to eligible first home buyers purchasing or building a new home.

Key eligibility criteria:

• You must be buying or building a new home (not an established property)
• The total value of the home and land must be $750,000 or less
• You must be an Australian citizen or permanent resident (at least one applicant)
• You must be 18 years or older
• You must not have previously owned residential property in Australia
• You must live in the property as your principal place of residence for at least 12 continuous months within the first year of settlement

How to apply: Your lender or mortgage broker can usually arrange the FHOG application as part of your loan settlement. At Mocha Finance, we handle this for you.

Important note: The FHOG is for new homes only — including newly built homes, off-the-plan apartments, and owner-builder properties. If you're buying an established (existing) home, you won't be eligible for this grant, but you may still qualify for stamp duty concessions below.

2. Stamp Duty Exemptions & Concessions

Stamp duty (officially called "land transfer duty") is one of the biggest upfront costs of buying property in Victoria. For first home buyers, significant savings are available:

Full Exemption (No Stamp Duty)

• Property value: Up to $600,000
• Savings: Up to ~$31,000 depending on the purchase price

Concession (Reduced Stamp Duty)

• Property value: Between $600,001 and $750,000
• Savings: The concession reduces on a sliding scale as the property value increases toward $750,000

Example Savings

These figures are approximate and for illustration only. Actual stamp duty amounts depend on the specific property and transaction details.

Eligibility: The stamp duty concessions apply to both new and established homes (unlike the FHOG, which is new homes only).

3. First Home Guarantee (Federal Government)

The First Home Guarantee (previously called the First Home Loan Deposit Scheme) allows eligible first home buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI).

How it works:

• The federal government guarantees up to 15% of the property's value to the lender
• This means you can avoid paying LMI, which can save you thousands
• You still need to meet the lender's standard serviceability requirements

Eligibility highlights:

• Australian citizens aged 18+
• Individual income up to $125,000 or couple income up to $200,000 (based on most recent tax return)
• Property price caps apply (varies by location — Melbourne metro is currently $800,000)
• Limited places available each financial year

How to access it: Not all lenders participate. At Mocha Finance, we can check your eligibility and connect you with participating lenders on our panel.

4. Help to Buy Scheme (Federal Government)

The Help to Buy scheme is a shared equity arrangement where the government contributes a portion of the purchase price in exchange for an equity share in the property.

Key details:

• Government contributes up to 30% for existing homes or 40% for new homes
• You may need as little as 2% deposit
• Income cap: $90,000 for individuals, $120,000 for couples
• Property price caps apply by location
• You own the property and can buy out the government's share later

Note: Check current availability and eligibility as this scheme has limited places and specific rules around ongoing obligations.

5. Regional First Home Buyer Support

If you're buying in regional Victoria, you may be eligible for additional benefits:

• The FHOG still applies ($10,000 for new homes up to $750,000)
• Some regional councils offer additional grants or rate concessions
• Property price caps for federal schemes are often lower in regional areas

What Should You Do Next?

1. Check your eligibility — The criteria can be nuanced. Speaking with a mortgage broker who understands these schemes is the fastest way to get clear answers.
2. Understand your borrowing capacity — Knowing how much you can borrow helps you focus your property search.
3. Get pre-approved — A pre-approval gives you confidence and makes you a stronger buyer at auction or negotiation.

At Mocha Finance, we help first home buyers navigate all of these grants and schemes as part of our complimentary service. We compare 40+ lenders, identify which benefits you're eligible for, and manage the entire process from start to finish.

Ready to chat? Start your free enquiry → or call Michael on 0477 979 377.

Michael Gross is a Credit Representative (546597) of LMG Broker Services Pty Ltd (ACN 632 405 504, Australian Credit Licence 517192). Information is general in nature and does not constitute financial advice. Please consider your own circumstances before making any decisions.