First Home Scheme in Ireland — Equity Share for New Builds, Eligibility, and the Catch
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First Home Scheme: equity share with the State for the deposit gap. 70%/30% shared equity for the difference between the mortgage and the price. Available for new builds (including self-builds) up to €500,000 in the Rest of the State, up to €475,000 in the Local Authority Affordable Purchase scheme. Income cap €75k single / €85k joint. You pay back the equity share (30% of the funded amount, or 30% of the property value at sale, whichever is lower) when you sell, refinance, or at the end of 30 years. The scheme is designed to bridge the gap between the deposit you have and the price of the new build. It's not a grant — it's shared equity.
TL;DR
First Home Scheme: equity share with the State for the deposit gap. 70%/30% shared equity for the difference between mortgage and price.
Available for new builds (including self-builds) up to €500,000 in the Rest of the State. Income cap €75k single / €85k joint.
You pay back the equity share (30% of the funded amount, or 30% of the property value at sale) when you sell, refinance, or at the end of 30 years.
When this matters most
You're applying for the First Home Scheme.
When this doesn't apply
The scheme has paid out.
Frequently asked questions
What is the First Home Scheme?
An equity-share scheme with the State. 70%/30% shared equity for the difference between the mortgage and the price. Pay back the equity share (30% of the funded amount or 30% of the property value) on sale, refinance, or after 30 years.
Is the First Home Scheme a grant?
No. It's shared equity. You pay back the equity share on sale, refinance, or after 30 years. 30% of the funded amount or 30% of the property value, whichever is lower.
Can I use the First Home Scheme for a self-build?
Yes, if the self-build is a new build and the price is under €500,000. Income cap €75k single / €85k joint. Apply via the scheme portal.
Sources
Government of Ireland, First Home Scheme. https://www.firsthomescheme.ie/
Frequently asked questions
What is the First Home Scheme?
An equity-share scheme with the State. 70%/30% shared equity for the difference between the mortgage and the price. Pay back the equity share (30% of the funded amount or 30% of the property value) on sale, refinance, or after 30 years.
Is the First Home Scheme a grant?
No. It's shared equity. You pay back the equity share on sale, refinance, or after 30 years. 30% of the funded amount or 30% of the property value, whichever is lower.
Can I use the First Home Scheme for a self-build?
Yes, if the self-build is a new build and the price is under €500,000. Income cap €75k single / €85k joint. Apply via the scheme portal.