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If you are approved for the Victorian Homebuyer Fund, there are a range of ongoing obligations you are required to fulfil.

Annual review

Each year following the purchase of your home, you will be required to complete an annual review and provide supporting information to ensure you have maintained your eligibility for the Victorian Homebuyer Fund.

You will receive an email providing instructions on how to submit your annual review. Annual reviews are submitted via the VHF Participant Portal. You will be provided access to the portal 30 days following your property settlement via an email issued from our office.

Once you have accessed the VHF Participant Portal, you will be guided to submit your annual review and will be provided with a list of required documents. This may include providing a certificate of currency of insurance and other details such as payslips, tax returns, home loan statements and utility bills.

You are also required to notify us within 10 business days if your circumstances change at any point in time.


Your property must always be insured, and you are required to provide a certificate of currency during each annual review period.

Maintaining your property

You must make payments on time, such as council rates, utilities, body corporate fees, stamp duty and home loan repayments.

You are required to maintain your property, keep things in good working order and fix any defects.

You must seek approval before making any modifications or renovations of more than $10,000, or those that involve structural changes or require authorisation, such as council approval.

You also must seek approval to refinance your property, sell your property, or make voluntary payments that result in you exiting the Victorian Homebuyer Fund within the first 2 years.  


You are required to start repaying the Victorian Homebuyer Fund’s interest in your property when:

  • Your gross annual income exceeds the applicable threshold on 2 consecutive annual review reporting dates, or
  • You receive a windfall gain such as an inheritance or lotto win of $10,000 or more, or
  • You have made a mandatory payment and your gross annual income at the next reporting date has increased by 10% or more, and
  • You are approved by your lender to increase your home loan. The loan increase will only proceed if it enables you to make a payment to reduce the Victorian Homebuyer Fund’s share by at least 5 percentage points i.e. from 25% to 20% and is at least $10,000. Please note you are required to use your best endeavours to increase the loan if your income exceeds the applicable income threshold, or you have made an earlier mandatory payment.

You can make voluntary (extra) repayments to start repaying the Victorian Homebuyer Fund’s share, provided:

  • Each repayment reduces the Victorian Homebuyer Fund’s share in your property by at least 5 percentage points i.e. from 25% to 20%, and is at least $10,000.

You need to seek and gain approval from the Victorian Homebuyer Fund team to pay the full amount back in the first 2 years, or reduce the State's equity below 5 percentage points i.e. from 25% to 4% in the first two years.

If your property is sold, the money is distributed to the following entities in this order:

  • Your bank to pay off your remaining home loan.
  • The Victorian Homebuyer Fund to pay back its share in your property.
  • Anyone else with a legal or equitable interest in the property, such as council rates.
  • You.


Last modified: 29 May 2024
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