First Home Scheme (FHS)
The State takes a shared equity stake of up to 30% in your new home, bridging the gap between your mortgage and deposit, and the purchase price. No monthly repayments until you sell, remortgage, or redeem.
Last verified October 2026 against the official source ↗.
What is the First Home Scheme?
The First Home Scheme (FHS) is a shared equity scheme operated by First Home Scheme DAC, a company established by the Irish government and participating banks. It is designed to help first-time buyers who have a mortgage and deposit but still face an affordability gap when purchasing a new home.
Under the scheme, the State (and in some cases participating banks) takes an equity share in your home proportional to the support provided. You own the home outright from day one — but the State holds a beneficial interest that must be repaid when you sell or remortgage.
How does it work?
The FHS bridges the gap between:
- Your mortgage (maximum you qualify for) + deposit
- And the actual purchase price of the property
The State provides up to 30% of the property's value (or up to 20% if your mortgage lender also participates). You make no monthly repayments on the equity — but the stake grows in value in line with the property value, and must be repaid when you sell or choose to redeem it.
Eligibility criteria
- You must be a first-time buyer
- The property must be a new build
- Purchase price must not exceed €500,000
- You must have a mortgage of at least 70% of the purchase price
- You must have a 10% deposit
- The property must be your principal private residence
- Household income limits apply (check current limits at firsthomescheme.ie)
Can I combine FHS with Help to Buy?
Yes. The First Home Scheme is fully compatible with the Help to Buy scheme. You can use your HTB rebate as part of your deposit and then use FHS to bridge any remaining gap. This combination can make new home ownership significantly more accessible.
When do I repay the equity?
You are required to repay the equity stake when you:
- Sell the property
- Remortgage (refinance)
- Choose to voluntarily redeem the equity at any time
The amount repaid is based on the current market value of the property at the time of redemption — so if your property has increased in value, you repay more (as the State's percentage share applies to the new, higher value).
Common reasons for rejection
- Not a first-time buyer (or Fresh Start applicant).
- Buying a second-hand home. FHS is for new builds only.
- Purchase price above the county limit (€500,000 in Dublin/Wicklow/Kildare/Meath, lower elsewhere) or over €500,000 generally.
- Household income over the applicable limit for the property's area.
- No qualifying mortgage from a participating lender, or deposit below 10%.
Check your First Home Scheme eligibility
Enter your property details and we'll check the First Home Scheme, Help to Buy, and all other applicable first-time buyer supports.
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