Buying your first home in Victoria is one of the biggest financial decisions you’ll ever make — and the good news is there’s real government help available to make it more achievable. From cash grants to stamp duty savings, Victorian first home buyers in 2026 have access to a range of schemes that could save you tens of thousands of dollars. Here’s everything you need to know.
The First Homeowner Grant (FHOG) in Victoria
The First Homeowner Grant (FHOG) is a one-off payment from the Victorian Government designed to help first home buyers enter the property market sooner.
How Much Is the FHOG in Victoria?
In Victoria, the FHOG is currently $10,000 for eligible purchases or builds. For properties in regional Victoria, this increases to $20,000 — a significant boost if you’re open to buying outside metropolitan Melbourne.
Who Is Eligible?
To qualify for the Victorian FHOG in 2026, you must meet all the following:
Be an Australian citizen or permanent resident
Be 18 years or older
Be buying or building a new home — not an established property
The property must have a dutiable value of $750,000 or less
You must live in the property as your principal place of residence for at least 12 months after settlement or construction
Neither you nor your co-purchaser can have previously owned residential property in Australia
| 📌 Important: The FHOG in Victoria applies to new homes only. If you’re buying an existing house, you won’t qualify for the grant itself — but you may still access stamp duty concessions. |
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Before you start house hunting, use the calculator below to understand your budget and how the grant could contribute to your deposit.
💰 Borrowing Power Calculator
Stamp Duty Concessions for First Home Buyers in Victoria
Stamp duty — also called land transfer duty in Victoria — can add a significant cost to your purchase. Victorian first home buyers receive generous concessions that can save far more than the grant itself.
| Property Value | Stamp Duty Outcome | Estimated Saving |
|---|---|---|
| Up to $600,000 | Full exemption — $0 stamp duty | Up to ~$31,000 |
| $600,001 – $750,000 | Partial concession (sliding scale) | Reduces as price rises |
| Above $750,000 | No concession — full rates apply | Nil |
On a $550,000 property, the full stamp duty exemption saves you approximately $29,000 — which is often more valuable than the FHOG itself.
Use the stamp duty estimator below to calculate exactly what you’d pay based on your target purchase price.
🏠 Stamp Duty Estimator
The First Home Guarantee (Federal Scheme)
Separate to Victorian state grants, the Federal Government’s First Home Guarantee allows eligible buyers to purchase with as little as a 5% deposit — without paying Lenders Mortgage Insurance (LMI).
Normally, borrowing less than 20% of the property value triggers LMI, which can add $8,000 to $30,000+ to your costs. Under the First Home Guarantee, the government acts as guarantor for the remaining deposit amount — eliminating LMI entirely.
Key Details for 2026:
Individual income up to $125,000 per year; couples up to $200,000 combined
Property price cap in Melbourne: currently $800,000
Places are limited and allocated each financial year — apply early
Must be purchasing as an owner-occupier, not as an investment
Before applying, read our full guide on how much deposit you really need — it covers the First Home Guarantee in detail alongside LMI costs and other low deposit options.
| 💡 The First Home Guarantee and the Victorian FHOG can be used together if you’re buying a new build — potentially saving you LMI costs AND receiving the $10,000 grant simultaneously. |
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Not sure if you’d qualify? Run a quick check with our Loan Check tool to see how you look to a lender before you apply.
The Victorian Homebuyer Fund (Shared Equity Scheme)
For buyers struggling to save a sufficient deposit, Victoria offers the Victorian Homebuyer Fund — a shared equity scheme where the state government co-contributes up to 25% of the purchase price (or 35% for Aboriginal and Torres Strait Islander buyers).
This means you need a smaller deposit and a smaller mortgage, making monthly repayments more manageable. In return, the government holds an equity share in your property, which you can buy out over time.
Eligibility Highlights:
Australian citizens or permanent residents
At least 5% genuine savings deposit
Annual income under $128,000 for individuals; $204,800 for couples
Property value cap: $950,000 in metropolitan Melbourne; $700,000 in regional Victoria
Tips to Maximise Your First Home Buyer Benefits in Victoria
Getting the most out of available grants and concessions takes a little planning:
Buy new where possible — the FHOG only applies to new builds, so a house-and-land package or newly built apartment can unlock both the grant and stamp duty savings simultaneously
Check regional options — the $20,000 regional FHOG is double the metro rate; cities like Ballarat, Bendigo and Geelong offer strong lifestyle and growth potential
Apply for schemes early — the First Home Guarantee has limited places per financial year; don’t wait until you’ve found a property
Combine schemes — you can potentially use the FHOG, stamp duty exemption and the First Home Guarantee together, dramatically reducing your upfront costs
Get pre-approval first — knowing your exact borrowing capacity before making offers puts you in a much stronger negotiating position
Once you’ve sorted your grants and deposit, the next big decision is your loan type. Read our guide on fixed vs variable rate home loans to understand which structure suits first home buyers in 2026.
Frequently Asked Questions
Yes — the FHOG is paid at settlement and can form part of your deposit. However, lenders typically require you to have genuine savings (usually 5% of the purchase price) in addition to any grant amounts.
Yes, provided the apartment is new — not previously sold or occupied as a place of residence — and meets the $750,000 price cap.
Yes — if you’re buying a new home valued under $600,000 in Victoria, you may qualify for both the $10,000 FHOG and a full stamp duty exemption simultaneously.
If you previously owned a residential investment property in Australia, you are generally not eligible for the FHOG, even if you never occupied it. Eligibility rules are strict — speak to a broker to confirm your situation.
You must occupy the property as your principal place of residence for at least 12 continuous months, commencing within 12 months of settlement or construction completion.
