The First Home Scheme (FHS) helps first-time buyers and other eligible home buyers with up to 30% of the market value of their newly built home in a private development anywhere in the Republic of Ireland.
The FHS is a shared equity scheme, where the State and participating banks pay up to 30% of the market value of your new home in return for a stake in the home. It aims to bridge the gap for first-time buyers and eligible homebuyers between their deposit and mortgage.
If you qualify for the FHS and avail of it, the Government and Participating Mortgage Lenders will provide up to 30% of the market value of a new home, in return for the same percentage share in equity in the property.
You can get up to 30% of the market value of your new property with the FHS. This is reduced to 20% if you are also getting the Help to Buy Scheme. The minimum you can get is 2.5% of the property purchase price, or €10,000, whichever is higher.