Help to Buy Scheme
Australian Government Help to Buy Scheme Support for Healthcare Professionals Seeking Home Ownership Solutions
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The Australian Government Help to Buy Scheme is a shared equity program that may help nurses and midwives buy a home with a smaller deposit and a smaller home loan. Applications have been open since 5 December 2025, and the scheme is administered by Housing Australia. At Nurse Loans, our Finance and Mortgage Brokers can help you understand whether Help to Buy suits your situation and how it compares with other options, such as the 5% Deposit Scheme for Nurses.
Under Help to Buy, the Australian Government may contribute up to 40% of the purchase price for a new home, or up to 30% for an existing home, in exchange for an equivalent equity share in the property. Eligible buyers may be able to purchase with a deposit as low as 2%, and because the government's contribution reduces the amount you borrow, Lenders Mortgage Insurance (LMI) does not apply.
You do not make regular repayments on the government's share. You may be able to buy back some or all of it over time, which gradually increases your ownership of the property. The government's share is generally repaid when the property is sold.
To be eligible, you generally need to:
Be an Australian citizen aged 18 or over.
Have a taxable income at or below $103,000 as an individual, or $165,000 for joint applicants and single parents. These thresholds are indexed each year.
Not currently own property, with limited exceptions.
Live in the home as your principal place of residence.
Have a minimum 2% deposit and qualify for a home loan with a Participating Lender for the remaining amount.
Buy within the property price cap for your location.
If your income rises above the threshold for two consecutive years, you may be required to repay part or all of the government's contribution, depending on your circumstances. You will also need to keep meeting ongoing requirements, such as maintaining and insuring the home and taking part in periodic reviews.
Help to Buy may be used to purchase a new or existing house, townhouse, apartment, unit or duplex. Vacant land for a new home, or a property being demolished and rebuilt, may also be eligible where there is a comprehensive building contract with an eligible builder.
Help to Buy is now available in every state and territory, with Tasmania the last to join in June 2026. Places are released each financial year, and loans are available through a limited panel of Participating Lenders, which Housing Australia plans to expand over time.
Help to Buy may be used alongside the First Home Owner Grant and stamp duty concessions, but it cannot be combined with other government shared equity schemes, loans or guarantees supporting the same purchase. It also cannot be used together with the 5% Deposit Scheme for the same purchase. Your broker can help you compare which option may leave you in a stronger position, depending on your income, deposit and long-term plans.
Our Finance and Mortgage Brokers work with nurses and midwives across Australia and have access to 70+ banks and lenders. We can check your eligibility for Help to Buy, compare it with the 5% Deposit Scheme and LMI waivers for nurses, and explain how the government's equity share may affect your future plans, including selling, refinancing or buying back the government's share. Explore our first home buyer loans for nurses to learn more.
Scheme rules, income thresholds and price caps can change, so speak with one of our brokers to confirm the current details before you make any decisions.
The Help to Buy Scheme may allow eligible nurses to buy a home with a deposit as low as 2%, with the Australian Government contributing up to 40% of the purchase price for a new home or up to 30% for an existing home. In return, the government holds an equivalent equity share in the property, which reduces the size of your home loan.
The taxable income limit is $103,000 for individual applicants and $165,000 for joint applicants and single parents. These thresholds are indexed each year, so it may be worth confirming the current figures before you apply.
You do not make regular repayments on the government's equity share. You may choose to buy back some or all of the share over time, and the share is generally repaid when the property is sold. If your income exceeds the threshold for two consecutive years, you may be required to repay part or all of the contribution.
Help to Buy is not restricted by nursing registration type, so enrolled nurses may be eligible if they meet the income, citizenship and ownership criteria. Because the scheme has income limits, it may suit nurses who fall within the thresholds and want to reduce the size of their home loan.
Yes. Help to Buy is now available in all states and territories, following Western Australia and Tasmania joining after the scheme's December 2025 launch. Places are limited each financial year and loans are only available through Participating Lenders, so your broker can confirm current availability.
The two schemes cannot be used together for the same purchase, so you would choose one or the other. The 5% Deposit Scheme has no income cap and you own 100% of your home, while Help to Buy has income limits but may significantly reduce the size of your loan in exchange for a government equity share. The more suitable option may depend on your income, deposit, repayment capacity and long-term plans.
Initial Consultation
Your journey begins with a conversation about your property goals - whether you're purchasing a home, investing, refinancing, or seeking another type of loan. Our Finance & Mortgage Brokers explain the overall loan application process, assess your financial position, and begin identifying suitable loan options from a wide panel of banks and lenders across Australia.
Financial Assessment
Your broker conducts a detailed review of your finances, including income, expenses, assets, liabilities and savings. They determine your borrowing capacity and explain key terms like loan-to-value ratio (LVR), lenders mortgage insurance (LMI), and any government schemes or discounts you may be eligible for.
Loan Comparison & Selection
With a clear understanding of your financial situation, our Finance & Mortgage Brokers research and compare a range of loan options. These may include fixed or variable interest rate loans, products with offset accounts, or flexible repayment features. Our brokers help you weigh the pros and cons of each loan, ensuring you choose the one that aligns best with your needs and preferences.
Loan Pre-Approval
Securing loan pre-approval provides a clear idea of how much you can borrow and strengthens your position in the property market. Your broker prepares and submits the required documents - such as payslips, tax returns, and bank statements - to the lender for assessment. Pre-approval also gives you confidence to make offers when you find the right property.
Formal Loan Application
Once you've chosen your preferred loan, your broker completes and submits the formal application to the lender. They manage all required documentation, respond to any queries from the lender, and keep you informed throughout the process to avoid unnecessary delays.
Loan Approval & Settlement Preparation
After your loan is formally approved, our brokers review the loan agreement with you and confirm that all terms - such as interest rate, fees, and repayment schedule - are clear and understood. They also help you set up your loan account and arrange any necessary insurance, such as mortgage or home loan protection.
Settlement & Ongoing Support
At settlement, the lender advances the funds and ownership of the property is transferred to you. Our brokers coordinate with your solicitor or conveyancer to ensure everything runs smoothly. After settlement, our Finance & Mortgage Brokers remain available for ongoing support - whether it's managing repayments, exploring refinancing opportunities, or helping with future property plans.
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Thea Edwards
Nick and the team were so lovely. Professional, genuine, responsive and easy to deal with. Would highly recommend.
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simon preshaw
Nick and the team were a pleasure to work with. They answered all of my questions and if they weren't immediately available, they were always quick to call me back.
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sarah ander
As a first home buyer, Carl and the team at Azura were incredibly helpful throughout the whole process. They made everything feel straightforward and were always there to answer any questions along the way. I’ve already recommended them to friends and would highly recommend them to anyone looking to get a mortgage!
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Alannah Paige
I am a first home buyer and had Carl as my mortgage broker. He worked diligently to follow up any issues or questions I had and made the process as smooth as it could. I highly recommend! Thank you Carl.
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Shaun Cunningham
As a founder, getting a mortgage requires a couple more hoops to jump through, which is why I couldn't recommend Nick O'Sullivan and the Azura team more highly. Not only were they able to offer a seamless process, but Nick was also patient with us as we changed our minds about when to buy (over a period of years!). The truth is anyone can approach a bank and get a mortgage, but when things don't go perfectly (e.g. abrupt government changes), that's when you want a pro on your team like Nick.
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Van Tran
Nick and the team at Azura Financial exceeded our expectations at every step. Their guidance was clear, their expertise was evident, and they handled every financial detail with care — giving us complete peace of mind throughout the process. We couldn't have asked for a better team by our side. Thank you very much, V&V.
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Philip Woods
Carl and team were absolutely impressive with their attentiveness to answering questions no matter how stupid they were. The urgency they put into attending to timelines and requests was superb. I would recommend them without hesitation.
めめん
Nick was amazing to work with. He's easygoing, quick to reply, and genuinely a very competent broker. He made my loan possible and secured a great deal for me. Highly recommend:)
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Carina
Nick O’Sullivan helped me with my first investment property purchase last year. As it was my first time, I had plenty of questions, but he was always happy to help and made the whole process seamless. I recently used Nick again to refinance my loan and secure a great interest rate, and once again everything was handled smoothly and efficiently. I highly recommend Nick and his team and look forward to working with them again in the future.
Nurses often have several pathways to buy with less than 20%. With an LMI waiver from a participating lender, eligible nurses can purchase with a 10% deposit and no Lenders Mortgage Insurance. Through the Australian Government 5% Deposit Scheme, nurses can buy with a 5% deposit and no LMI. Single parents and single legal guardians may be able to purchase with as little as a 2% deposit under the same scheme. Eligibility depends on your income, employment type, and the specific lender or scheme criteria.
Eligibility for an LMI waiver depends on the lender. Registered nurses are the group most commonly covered, and nurse practitioners, who hold endorsed registration, are typically treated as registered nurses. Registered midwives are covered by some lenders, including Westpac Group, but not all. Some lenders, such as Westpac Group, require a minimum annual income of $90,000, while others may not publish a specific threshold. Enrolled nurses are generally not eligible for lender LMI waivers, but they may be able to avoid LMI through the Australian Government 5% Deposit Scheme instead. Our brokers can confirm which options may apply to your role and income.
It depends on the lender. Some lenders may assess 100% of your overtime, shift allowances and penalty rates as income, generally where you have been with the same employer for at least six months. Other lenders may discount this income by 20% or more, or exclude it entirely. The difference in how a lender treats your non-base income could change your borrowing capacity by tens of thousands of dollars. Because we work with 70+ lenders, we can help identify which ones may give you full credit for the income you earn.
It may be possible, but the rules differ between lenders. Some lenders may apply an LMI waiver to a joint loan where one applicant meets the professional and income criteria, while others may require the income threshold to be met by qualifying professionals on the application. For example, at some lenders, incomes can only be combined to meet the $90,000 threshold where both borrowers are qualifying professionals. Because each lender has its own requirements around how income and ownership are shared between applicants, it is worth having your situation assessed by a broker before you apply.
Casual and agency nursing income is treated differently depending on the lender. Some require a minimum of 12 months in the same role, while others accept 6 months with consistent hours. Certain lenders calculate casual income over a rolling 52-week period, which can work in your favour if your shifts have been steady. We deal with this regularly and can place your application with a lender that takes the most favourable view of your income structure.
At some lenders, self-employed nurses borrowing under their own name may be able to access the same products and rates as salaried nurses. Maximum loan limits and additional documentation requirements typically apply, so it is worth confirming your eligibility before you apply.
The Australian Government 5% Deposit Scheme may allow eligible first home buyers, and people who have not owned property in Australia in the last 10 years, to purchase a home with a 5% deposit without paying LMI. Eligible single parents and single legal guardians may be able to purchase with as little as a 2% deposit. Housing Australia backs the gap between your deposit and the 20% lenders usually require. From 1 October 2025, there are no income caps and no limit on the number of places available, although property price caps apply. The scheme cannot be used together with the Help to Buy Scheme for the same purchase, but it may be combined with the First Home Owner Grant and stamp duty concessions. Our brokers can confirm whether your purchase may qualify.
The saving depends on the property value, your deposit size and the lender. As an example, Westpac has estimated that a health professional buying a $550,000 property with a 10% deposit could save around $16,250 in LMI with a waiver. On higher-value properties, the LMI premium can exceed $30,000. Nurses who qualify for an LMI waiver, or who purchase through the Australian Government 5% Deposit Scheme, may not need to pay any LMI at all.
The entire process typically takes 8 to 14 weeks, depending on the property type, the lender, and whether you are using a government scheme. Government-backed purchases sometimes involve additional paperwork, and we manage that process to reduce delays.
The First Home Owner Grant is not profession-specific. Any eligible first home buyer purchasing or building a new home may be able to apply. Grant amounts vary by state, ranging from $10,000 in New South Wales and Victoria up to $50,000 in the Northern Territory. The grant generally applies only to new or substantially renovated properties that you intend to live in as your principal place of residence. We can confirm the current amount and eligibility rules in your state.
Trustee for the O'Sullivan Family Trust ABN: 29 235 649 437, Credit Representative #482294 and is authorised under Australian Credit Licence 389328.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Names & Locations of users have been changed to protect their privacy and are illustrative only.
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