Shared Equity Home Buyer Helper

30th January, 2023

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.

Through Shared Equity Home Buyer Helper, the NSW Government is supporting and creating opportunities for lower income single parents, older singles and first home buyer workers to live in their own home. The Government’s contribution means a smaller deposit and lower monthly repayments.

For eligible persons*, the NSW Government will contribute up to 40% of the purchase price for new dwellings and 30% on established properties, in exchange for an equivalent interest in the property.

The Government will secure its interest in the property by way of a registered second mortgage. No payments (such as rent or interest) are required to the Government on its equity contribution while a participant remains eligible for the initiative.

Participants can make voluntary payments to increase their share in the property. All purchase costs including stamp duty are the responsibility of the participant.

Participants will remain eligible for first home buyer programs and any stamp duty or land tax concessions where applicable.

To remain eligible, participants will need to occupy the property as a principal place of residence and meet ongoing requirements, including property maintenance, property insurance, and periodic reviews. Participants are also responsible for ongoing property costs such as council rates, body corporate fees and utilities.

The initiative is open to:

  • a single parent of a dependent child or children
  • a single person aged 50 or above
  • first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators and police officers.

*must meet eligibility criteria which can be checked here NSW Government – Eligibility to Apply