For eligible Aboriginal and Torres Strait Islander participants, the Victorian State Government will co-contribute (pay for) up to 35% of the purchase price of your chosen home, in exchange for an equivalent share in the property.

VHF participants do not have to pay Lenders Mortgage Insurance (LMI) and can also access the First Home Owner Grant (FHOG) and other stamp duty concessions/exemptions, if eligible.

The Victorian Government’s co-contribution is a ‘shared equity contribution’. Shared equity means that:

• The Government does not charge rent or interest on its co-contribution.
• The amount of the Government share does not go up (i.e. the percentage amount)
• The value of the Government share can go up or down depending on if your property increases or decreases in value (i.e. the dollar value).
• You must repay the government share within the loan term of your initial home loan (plus 60 days).
• Repayment can be done through voluntary payments, refinancing or upon sale of the property.

Source: State Revenue Office Victoria, reproduced with permission.

To participant in the VHF, you must meet all of the VHF eligibility criteria as well as successfully apply for a home loan through one of the VHF's Participating Lenders.

Aboriginal and Torres Strait Islander VHF participants must contribute a minimum 3.5% deposit plus acquisition costs to be eligible for a VHF loan.

Aboriginal participants must also provide a verifiable Confirmation/Certificate of Aboriginality (CoA) to access the maximum 35% co-contribution and minimum 3.5% deposit pathway.

The process of obtaining a CoA can be lengthy, it is recommended to research this step as a first priority when beginning your application for the VHF. If you do not have a CoA, please contact Aboriginal Housing Victoria for more information, free call 1800 248 842.

Other participant eligibility criteria includes:

• You or your household must all be an Australian or New Zealand citizen or permanent resident.
• You or your household must all be at least 18 years old.
• You or your household must all not own any land or other properties in Australia or overseas, either on your own or with someone else.
• You or one person in your household must live in the property and be the registered owner of the property.
• You must have a taxable income of less than $135,155 if you plan to apply by yourself, or up to $216,245 for a joint application or single parent applications.

There are also property eligibility requirements you must meet:

• For Metro Melbourne and Geelong, you must buy a property under $950,000.
• For Regional Victoria, you must buy a property under $700,000.
• You cannot buy vacant land, or an unfinished home (e.g. buying off-the-plan).

Source: State Revenue Office Victoria, reproduced with permission, current as at July 2024.

To apply for the VHF, you must contact a VHF Participating Lender. The details of the lenders are as follows:

Bank Australia

Visit Bank Australia online or phone 132 888. 

Bendigo Bank

Visit Bendigo Bank online or phone 1300 236 344

Commonwealth Bank

Visit Commonwealth Bank online or phone 13 2221

Indigenous Business Australia (IBA)

Visit IBA online or phone 1800 107 107

You will be required to submit supporting documentation for a home loan, plus your COA. See our Applying for a Home Loan section for more information on documentation. Aboriginal Housing Victoria will be asked by your lender to verify your CoA.

If you are successful in applying for a loan, the lender will then lodge your VHF application to the State Revenue Office Victoria on your behalf.