MyHome shared equity, explained
Homes Tasmania buys a share of your home alongside you, so you need a smaller deposit and a smaller loan.
How it works
Under MyHome, Homes Tasmania contributes part of the purchase price and holds that share of the property. You borrow the rest. Your loan and repayments are smaller, and you pay no rent on the government’s share.
- New homes and house and land: the lesser of $300,000 or 40% of the price
- Established homes: the lesser of $150,000 or 30% of the price
Indicative price caps are around $800,000 for new homes and $750,000 for established homes.
The trade-off
The government owns its share of any growth too. When you sell, or when you buy the share back, Homes Tasmania receives its percentage of the value at that time. If the home rises in value, so does the amount you owe them. You can buy the share back in stages as your finances improve.
Who it suits
MyHome suits buyers with steady income and a small deposit who would otherwise be years from buying. Income and asset limits apply and are updated each July. It is generally used instead of the federal Help to Buy scheme, not alongside it.
How we help
MyHome loans are available through a limited set of lenders. We check your eligibility, compare it with the 5% Deposit Scheme and a guarantor loan, and show you what each would cost over five years.
Questions people ask
Do I pay interest on the government’s share?
No. You don’t pay interest or rent on it. You repay it as a share of the property’s value later.
Can I renovate?
Usually yes with approval. Improvements you pay for can be taken into account when the share is valued.
General information, last updated November 2026. Scheme figures, lender policies and duty rates change, so confirm them before you rely on them. Sources: Homes Tasmania: MyHome.
Keep reading
Let’s talk about your next move
Twenty minutes on the phone. No documents and no sales pitch.