To be eligible to apply you must:
be an Australian citizen or have permanent-resident status have been residing in Victoria for the past 2 years be aged 18 years or older be a 'natural person' (that is, not an organisation, company, trust, or other body) be a first home buyer. You qualify as a first home buyer if you or your spouse do not currently own or previously owned all or part of a residential property be buying the property as your principal place of residence have a deposit of at least 5% made up of genuine savings. Genuine savings means savings that you have accumulated over time. They can include shares and managed funds, if the original investment was made with genuine savings earn no more than $77,325 for sole person households per year, or $97,945 for multiple person households not have other loans or debts that add up to more than $10,000. If you have a HELP debt, that does not count towards the $10,000 limit. This debt limit includes the credit card limit on any credit card/s in your name, not the amount owing not be related to, or associated with, the vendor of the property being purchased buy a property that meets the requirements for property type and location. See the list of eligible property types and locations under How to apply For more information and to see if you may be eligiable visit the website.