First Home Scheme
Secure up to 30% equity support
Bridge the gap between your mortgage and your dream home
The First Home scheme was established to assist first time buyers in bridging the difference between what is allowed them under mortgage lending guidelines of the Central Bank of Ireland and what amount needs to be borrowed (their “borrowable amount” and their required purchase amount).
First Home Scheme Guide – Go To:
What is the First Home Scheme Ireland?
The First Home Scheme also referred to as FHS scheme is a government-backed shared equity scheme designed to help first-time buyers in Ireland bridge the gap between the maximum mortgage they can secure under Central Bank lending rules and the actual price of a new home they wish to buy. Under this scheme, eligible first-time buyers defined as those who have never previously owned or built a home in Ireland or abroad can apply for up to 30% of the property’s purchase price (or build cost for self-builds) as an equity stake from the government, provided they have mortgage approval from a participating lender and can contribute a minimum 10% deposit themselves.
The property: must be a newly built home in a private development, a qualifying self-build, or in some cases, a home you are renting and now wish to purchase if your landlord is selling. Applicants must borrow the maximum amount available to them (up to 4 times their income).
Income limits: There are no specific income limits, but local authority price ceilings apply, and the home must be your principal private residence.
Fresh start applicants: The FHS scheme is also open to ‘fresh start’ applicants who have lost ownership of a previous home due to divorce, separation, or insolvency, provided they no longer have a financial interest in any property.
Charges: Service charges apply from year six, and all applications are subject to additional screening and eligibility checks.
The First Home Scheme aims to make homeownership more accessible for first-time buyers in Dublin and across Ireland by closing the affordability gap for new-build homes.
Eligibility criteria as a First-Time buyer
| > Must be over 18 years of age |
| > Never previously purchased or built a home in Ireland or abroad |
| > Must not currently own or have a beneficial interest in any property |
| > ‘Fresh start’ applicants (those who lost previous home ownership due to divorce, separation, or insolvency) may also qualify |
| > Must have mortgage approval from a participating lender |
| > The mortgage must cover at least 70% of the property’s value |
| > Required to borrow the maximum amount available (up to 4 times income) |
| > Minimum 10% deposit required, with site equity allowed for self-builds |
| > Property must be a newly built home or apartment in a private development, a qualifying self-build, or, in limited cases, a rental home being sold by the landlord |
| > Home must be located in the Republic of Ireland and within local authority price limits |
| > Property must be intended as the applicant’s principal private residence |
| > No specific household income limits, but all applications undergo additional screening, including anti-money laundering and fraud checks |
Pro's and con's of the First Home Scheme
Pro’s
Reduce Mortgage
Makes it easier for first-time buyers to get on the property ladder by bridging the gap between their mortgage, deposit, and the cost of a new home, reducing the size of the mortgage needed.
Equity share %
Offers up to 30% of the property’s value (or 20% if also using the Help to Buy Scheme) as a shared equity stake, without income limits, and with no repayments required on the government’s share for the first five years.
Who is it for?
Open to both first-time buyers and ‘fresh start’ applicants (those who lost a previous home due to separation, divorce, or insolvency).
Pay equity share
Flexibility to buy out the government’s equity share at any time, either partially or in full, with no obligation unless a mandatory event occurs, such as selling the property.
Rented property
Can help buyers stay in their local area, including in limited cases where a tenant can purchase their rented home if the landlord is selling.
Con’s
Government equity
The government takes an equity stake in your home, which must eventually be repaid, potentially with interest or increased service charges after year five—raising the total cost over time.
New builds only
Applies only to newly built properties within local authority price ceilings, limiting choice and excluding second-hand homes (except in specific tenant purchase cases).
Service charges
Service charges apply on the government’s equity share from year six onwards, and these charges increase over time if the equity is not repaid.
Selling your home
When selling your home or switching to a non-participating lender, you must redeem the government’s share and any outstanding service charges, which can reduce your profits and / or complicate the process.
Mortgage providers
You must use a participating lender, which may not always offer the most competitive mortgage rates.
Does the First Home Scheme apply to second-hand properties?
The First Home Scheme does not apply to second-hand properties; it is strictly available for newly built homes or self-builds in Ireland. The only exception is if you are currently renting a property and your landlord decides to sell, under these circumstances, you may be eligible to use the First Home Scheme to purchase the home you are living in, provided all other scheme conditions are met.
How much can I borrow under the First Home Scheme?
Under the First Home Scheme, first-time buyers in Ireland can receive up to 30% of the property’s purchase price or build cost as a shared equity stake to bridge the gap between their mortgage (typically capped at four times their income) and the amount needed to buy a new home. If you are also using the Help to Buy scheme for your purchase, the maximum you can receive from the First Home Scheme is reduced to 20% of the property price. Local authority price ceilings apply, and the property must be a newly built home, a qualifying self-build, or, in certain cases, a property you are renting that is being sold by your landlord.
| Component | Amount (€) |
| Gross annual income | 70,000 |
| Max mortgage (4x) | 280,000 |
| Deposit (10%) | 35,000 |
| Help to Buy grant | Up to 30,000 |
| Property price example | 350,000 |
| FHS equity share needed | 35,000 |
| FHS equity share max (20%) | 70,000 |
Key Points:
- Your borrowing capacity is mainly determined by your income (4x gross salary).
- HTB can cover your deposit up to €30,000.
- FHS can bridge the gap up to 20% of the property price if you use HTB, subject to local price ceilings and your actual shortfall.
- The maximum property price you can target depends on your income, deposit, and the 20% FHS limit.
- Always check the latest price ceilings for your local authority area and use the FHS eligibility calculator for precise figures
If you are not using the Help to Buy (HTB) scheme, the First Home Scheme (FHS) can provide up to 30% of the property purchase price as a shared equity stake, subject to a maximum of €135,000 and local authority price ceilings.
| Component | Amount (€) |
| Gross annual income | 70,000 |
| Max mortgage (4x) | 280,000 |
| Deposit (10%) | 40,000 |
| Property price example | 400,000 |
| FHS equity share needed | 80,000 |
| FHS equity share max (20%) | 120,000 |
Key Points:
- Without HTB, the FHS can provide up to 30% of the property price (max €135,000).
- You must provide at least a 10% deposit from your own funds.
- Your maximum property price is determined by your income, deposit, and the 30% FHS cap
Local authority ceilings for First Home Scheme
Here are the current local authority property price ceilings for the First Home Scheme in Ireland. These limits apply to houses, apartments, and self-builds, and your property must fall within the relevant ceiling for your area to qualify.
Note: Duplexes are included under house price limits. Always check the latest updates, as these ceilings are reviewed regularly and may change.
| Local Authority Area | House Price Ceiling | Apartment Price Ceiling | Self-Build Price Ceiling |
| Cork City, Dublin City, Dún Laoghaire-Rathdown, Fingal, South Dublin | €475,000 | €500,000 | €475,000 |
| Limerick city and county | €425,000 | €450,000 | €425,000 |
| Waterford city and county | €3755,000 | €450,000 | €375,000 |
| Wicklow county | €475,000 | €475,000 | €475,000 |
| Galway city, Kildare county | €450,000 | €450,000 | €450,000 |
| Cork county, Meath county | €425,000 | €450,000 | €425,000 |
| Galway county, Kilkenny county, Louth county | €425,000 | €425,000 | €425,000 |
| Laois county, Westmeath county | €375,000 | €375,000 | €375,000 |
| Clare, Carlow, Cavan, Donegal, Kerry, Leitrim, Longford, Mayo, Monaghan, Offaly | €350,000 | €350,000 | €350,000 |
| Roscommon, Sligo, Tipperary, Wexford Counties | €350,000 | €350,000 | €350,000 |
How to I apply for the First Home Scheme Ireland?
- Check your eligibility using the official First Home Scheme online eligibility calculator.
- Obtain Mortgage Approval in Principle (AIP) from a participating lender (AIP must be valid for at least eight weeks).
- Register and apply online via the First Home Scheme customer portal, providing your personal details, property information, and solicitor’s details.
- Upload required documents, including:
- Your AIP letter from the lender
- Valid photo ID
- Proof of address (dated within the last six months)
- For self-builds: a certified estimate of build costs from a qualified professional
- Application assessment: The scheme will review your application and documentation.
- Receive an Eligibility Certificate if approved, showing the equity amount you may qualify for.
- Share the Eligibility Certificate with your mortgage lender to proceed with your full mortgage approval.
- Upload your formal mortgage offer and any additional documents to the First Home Scheme portal.
- Receive and sign the Customer Contract (with your solicitor), formalising the equity share agreement.
- Drawdown of funds: Scheme funds are transferred to your solicitor to complete the purchase, or, for self-builds, drawn down within 12 months (with 24 months to complete construction).
First Home Scheme - FAQs
1. Can I use the First Home Scheme for a new build in Dublin or Galway if it exceeds the price cap?
No, the First Home Scheme (FHS) is subject to specific regional price ceilings. For example, in Dublin City and Dún Laoghaire-Rathdown, the current price cap is €475,000 for a house and €500,000 for an apartment. In Galway, the cap is €450,000. If the property exceeds these local limits, it will not qualify for the scheme.
2. oes the First Home Scheme apply to 'Fresh Start' applicants in Ireland?
Yes. A unique feature of the FHS is the "Fresh Start Principle." This means that if you previously owned a home but are now divorced, separated, or have undergone personal insolvency/bankruptcy and no longer have a financial interest in that property, you can be treated as a first-time buyer for this scheme
3. How does the First Home Scheme interact with the Help to Buy (HTB) incentive?
You can combine both, but it affects the maximum equity share the government will take. If you use the Help to Buy (which provides up to €30,000 toward your deposit), the First Home Scheme will only provide up to 20% of the property purchase price. If you do not use HTB, the scheme can provide up to 30%
4. What happens if I want to sell my home in the future while using the First Home Scheme?
If you sell your property, you must repay the FHS equity share in full. The amount you repay is based on the market value of the home at the time of sale, not the original price you paid. For example, if the government owns a 20% stake and your home’s value has increased, you will owe 20% of that new, higher price.
5. Can I use the First Home Scheme for a Self-Build on my own land?
Yes, the scheme was recently expanded to include self-builders in Ireland. If you are building your first home on a site, the scheme can bridge the gap between your build costs and your mortgage/deposit. The "price cap" for self-builds is based on the combined value of the land and the estimated build costs
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