Enquire now to find out if you're eligible
Helping Victorians into home ownership sooner
It can be hard for many Victorians to save enough for a house deposit. That’s why the Victorian Government has launched its new shared equity scheme which aims to accelerate the path to home ownership.
You can only access this opportunity from two banks, one of which is Bendigo Bank.
If you have a 5% deposit, the Victorian Government will contribute up to 25% of the purchase price for eligible participants and 35% for Aboriginal and Torres Strait Islanders in exchange for an equivalent share in the property, whilst removing the need for Lenders Mortgage Insurance.
We’re proud to be a participating lender and look forward to helping even more Victorians into home ownership.
To be eligible you must:
- be an Australian citizen or permanent resident, at least 18 years old
- be able to pay for all costs associated with purchasing your home such as conveyancing, legal costs, building inspections and stamp duty (if applicable).
- be able to demonstrate your ability to save over time, with a minimum deposit of 5% for general applicants or 3.5% for Aboriginal or Torres Strait Islander applicants
- be able to confirm that you will be the registered owner of the property and grant the scheme mortgage on the acquisition date
- be able to confirm that the property will be your principal place of residence
- must not have an interest in all or any part of a property (including land)
- meet income (single buyers up to $125,000, or household* up to $200,000 per year)(*up to four participants may apply)
- meet property and location eligibility requirements
We're here to help you with your application
If you meet the eligibility criteria the next step is to reach out to our team who can assist with your application. Complete our simple online enquiry form and a team member will be in contact with you shortly.
Scheme update from the Victorian Homebuyer Fund support team
Due to the very strong interest in the Victorian Homebuyer Fund it may take up to 7 business days for a Victorian Homebuyer Fund support team member to contact you after you’ve submitted your online enquiry form.
Please be assured that this will not impact your eligibility to participate in the scheme.
Enquiries will be responded to in the order that they’re received.
The application process
Tips on home loans
Things you should know
Bendigo Bank is a participating lender for the Victorian Homebuyer Fund which is an initiative of the Victorian Government. The information on this page is correct at the time of publishing but may change at any time without notice to you, including as a result of changes to the Victorian Homebuyer Fund by the Victorian Government.
Terms and conditions, fees, charges, eligibility and lending criteria apply. Restrictions and other obligations apply after purchase. Full details available on application. All information is correct as at 4 October 2021 and is subject to change without notice. Find out more at vic.gov.au/homebuyer