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NSW Government Shared Equity Home Buyer Helper Initiative

Build Your Own Home with as Little as 2% Deposit!

Shared Equity Home Buyer Helper is a NSW Government initiative to help eligible home buyers purchase their own home with as little as a 2% deposit.

How it works

The NSW Government will contribute a proportion of the purchase price of a property in exchange for an equivalent interest in the property. The contribution is a percentage of the purchase price and the maximum amount is determined by whether it is a new or existing home.

  • New home – up to 40%
  • Existing home – up to 30%

As long as a participant remains eligible for the initiative, no repayments are required, and no rent or interest will be charged. Participants can also make voluntary payments to progressively increase their ownership share in the property.

 

Eligibility to apply

The initiative is open to:

  • single parents of a dependent child or children
  • single people 50 years of age or above, or
  • first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators or police officers. The gross income of the participants must be no more than $90,000 for singles and $120,000 for couples.
    Participants must buy a home in NSW with the maximum property price determined by the home’s location:

    • $950,000 in Sydney and major regional centres (Newcastle & Lake Macquarie, Illawarra, Central Coast and North Coast of NSW), or
    • $600,000 in other regional areas of NSW.

    Participants must:

  • be 18 years or over
  • be an Australian or New Zealand citizen, or a permanent Australian resident
  • have a minimum deposit of 2% of the purchase price
  • occupy the property as their principal place of residence
  • not currently own any land or property
  • not be able to service the mortgage for the property purchase without the government contribution but be able to service the mortgage with a participating lender with the government contribution.
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