Coonan Financial Group
First Home Scheme
The First Home Scheme (FHS) aims to make homeownership achievable for thousands of individuals and families by bridging the gap for first-time buyers and other eligible homebuyers between their deposit and mortgage, and the price of their new home.
It is what’s known as a shared equity scheme. This means that homebuyers can receive funds from the Scheme in return for the FHS taking a percentage ownership in the property.
How much funding can the FHS provide?
- the FHS can fund up to 30% of the property purchase price or build cost (for Self-builds)
- this amount is reduced to 20% if you are availing of the Help to Buy Scheme (HTB). Details of HTB can be found on the Revenue’s website (www.revenue.ie) and you can view our handy guide here, including screenshots, to help you navigate the process.
- the minimum equity share is 2.5% of the property purchase price or build cost (for self-builds), or €10,000, whichever is higher.
View our handy FAQ guide here to help you understand more about the FHS