First Time Home Buyer Ireland: Grants, Deposits & Schemes

Anyone who’s started house-hunting in Ireland recently knows the feeling: you’ve found the right place, but the savings account just isn’t there yet, with prices ticking up and rents eating into what you can put aside each month, making the gap between renting and buying feel enormous. The good news is that Ireland now offers two state-backed schemes that can dramatically shrink that deposit gap—if you know which one fits your situation, and this guide walks through each support, what you’ll need to qualify, and how much you really have to save.

First Home Scheme max equity share: 30% ·
Minimum deposit required: 10% ·
Max property price (First Home Scheme): €500,000 ·
Help to Buy max refund: €30,000 ·
Stamp duty exemption (first-time buyers): €2,000

Six facts, one pattern: the deposit you actually need depends entirely on which scheme you use—and whether you’re buying new or second-hand.

What am I entitled to as a first-time buyer?

Government grants and schemes

Ireland offers first-time buyers a mix of grants, tax refunds, and shared-equity schemes. The two biggest are the Help to Buy scheme and the First Home Scheme, and they work very differently. Help to Buy gives you a cash refund on income tax you’ve already paid, up to €30,000, but only for newly built homes or self-builds (Citizens Information (official government information service)). The First Home Scheme, by contrast, takes a stake in your home—up to 30% of the property value—so you borrow less from the bank and need a smaller deposit.

• Help to Buy: max €30,000 or 10% of purchase price (whichever lower) – new homes only (MortgageLine)
• First Home Scheme: shared equity up to 30% (20% if Help to Buy also used) – new homes and self-builds (Park Financial)
• Stamp duty relief: full exemption on first €1 million for first-time buyers (saves up to €2,000) (Revenue (Irish tax authority))
• Local authority affordable purchase schemes: available in some counties, prices below market rate

Help to Buy scheme

Introduced in 2017, Help to Buy is not a loan but a refund of income tax and DIRT you’ve paid over the previous four years, capped at €30,000. To qualify, you need a mortgage of at least 70% of the property’s value and the home must cost no more than €500,000 (MortgageLine). You also must live in the home for five years, or you may have to repay some or all of the relief.

Stamp duty relief

First-time buyers don’t pay stamp duty on the first €1 million of a property’s value. That’s a saving of up to €2,000 on a €1 million home, since the standard rate is 1% up to €1 million. The exemption covers both new and second-hand homes, making it one of the few supports available for older properties (Revenue).

First Home Scheme

Launched in 2022, the First Home Scheme is a shared-equity initiative where the state (through a fund) takes an equity stake of up to 30% of your home’s value. If you also use Help to Buy, that stake is capped at 20% (Fingal County Council (local authority brochure)). You need a minimum 10% deposit and a mortgage covering at least 70% of the property price. The scheme is only for newly built homes or self-builds intended as your main residence.

The implication: First Home Scheme effectively lowers the deposit you need from 10% of the full price to 10% of the portion you actually borrow. On a €400,000 home with 30% equity from the scheme, you only need a mortgage of €280,000—and a deposit of €40,000 instead of €40,000? Actually the deposit is still 10% of the purchase price, but because the scheme reduces your mortgage, the 10% deposit stays the same. The real benefit is a smaller monthly repayment. The trade-off: the state owns a share of your home, and when you sell, you repay that percentage of the sale price.

The pattern: first-time buyers must weigh the benefits of each scheme against their specific circumstances.

How much deposit do first-time buyers need in Ireland?

Minimum deposit percentage

The standard rule under Central Bank macro-prudential rules is a 10% deposit for first-time buyers on properties up to €500,000 (Park Financial). For anything above that, the deposit jumps to 20% on the amount over €500,000.

Deposit for a €200,000 house

At a 10% deposit, you need €20,000. If you qualify for Help to Buy (new home ≤€500,000), you could get up to €20,000 back from your tax paid—covering the whole deposit. If you’re buying second-hand, you’ll need the full €20,000 from savings, but stamp duty is zero.

Deposit for a €300,000 house

10% = €30,000. Help to Buy can contribute up to €30,000, again covering the entire deposit for a new home. For second-hand, you need the full amount saved.

Deposit for a €400,000 house

10% = €40,000. Help to Buy maxes out at €30,000, so you’d need at least €10,000 from savings even with the scheme. Without Help to Buy, it’s €40,000.

What this means: The deposit math changes dramatically for new builds thanks to Help to Buy. For a €300,000 new home, you could buy with no savings if you’ve paid enough tax. For second-hand, the full 10% must come from your own pocket. The First Home Scheme doesn’t reduce the deposit amount—it reduces the mortgage size, which lowers monthly payments but adds an equity obligation.

Who is eligible for the First Home Scheme in Ireland?

First-time buyer definition

You qualify if you have never purchased or built a home in Ireland (or elsewhere) that you occupied. The Fingal County Council brochure defines a first-time buyer as someone who “has not previously purchased or built a dwelling in the Republic of Ireland for their occupation and does not own or have a beneficial interest in any dwelling in Ireland or elsewhere.”

Fresh start applicants

If you previously owned a home but are now separated, divorced, or have gone through a personal insolvency, you may still be eligible as a “fresh start” applicant, provided you meet the other criteria (Park Financial).

Income limits

The scheme does not officially assess your income, according to Home and Supports Hub (government-funded housing advice). However, you must have mortgage approval from a participating lender, which will apply its own income tests. The Fingal brochure explicitly states “income is not assessed for First Home Scheme participation.”

Property price cap

Your new home must cost €500,000 or less. This cap applies nationwide. If you’re buying with the scheme, you cannot exceed this limit.

The catch: while income isn’t formally assessed, you must take out a mortgage for at least 70% of the property’s value, and lenders will apply strict affordability checks. Your combined monthly mortgage payments (including the First Home Scheme’s equity stake) must fit within standard lending limits—typically up to 4 times your income (Home and Supports Hub). For a single person earning €50,000, that caps borrowing around €200,000, so a €400,000 home would be out of reach without additional equity.

Is there a first-time buyers grant in Ireland?

Help to Buy scheme

Yes—but it’s technically a tax refund, not a cash grant. It’s available only for new homes or self-builds. You can claim up to 10% of the purchase price or €30,000, whichever is lower. To qualify, you must have a mortgage approved for at least 70% of the value (MortgageLine).

First Home Scheme

Not a grant. It’s a shared-equity loan. The state takes a percentage of your home’s value, and you repay that percentage when you sell or after 25 years (whichever comes first). There is no cash given to you.

Local authority grants

Some local authorities offer affordable purchase schemes where homes are sold at reduced prices (e.g., below market value) to eligible first-time buyers. These vary by county and are not cash grants.

Other supports

• Rebuilding Ireland Home Loan: a government-backed mortgage for first-time buyers (income limits apply)
• Mortgage allowance schemes: some employers offer housing assistance
• Rent-to-buy options: limited availability through approved housing bodies

For example, understanding your health insurance costs is part of overall financial planning: How Much Is Health Insurance in Ireland? 2025 Monthly Costs.

The pattern: no direct cash grant exists for second-hand homes. If you’re buying an older property, your only state support is stamp duty relief. All the major financial help is tied to new builds.

The catch: without a new build, the state’s support is minimal, so savings are critical.

Can a 70 year old woman get a 30 year mortgage?

Age limits for mortgages

Most Irish lenders set a maximum age at the end of the mortgage term, typically between 70 and 75. For a 30-year mortgage starting at age 70, the term would end when the borrower is 100—which exceeds any standard lender’s limit. In practice, a 70-year-old would likely be offered a shorter term, e.g., 5-10 years, depending on health and income (Citizens Information).

Lender policies

Each lender has its own age cap. A few specialist lenders may offer terms up to age 75 or 80, but these are rare and often come with higher interest rates. Most mainstream banks will not lend past age 70.

Retirement income considerations

Lenders assess ability to repay. If the applicant is retired, they need to show sufficient pension income or savings to cover repayments. For a 70-year-old woman with a stable pension and no other debts, a shorter-term mortgage (e.g., 10 years) may be feasible.

Alternatives

• Joint application with a younger co-borrower (e.g., adult child) can extend the term
• Interest-only mortgage for a period to reduce monthly payments
• Reverse mortgage or equity release (for existing homeowners)
• Cash purchase using savings or help from family

What this means: A 70-year-old seeking a 30-year mortgage is almost certainly out of reach with mainstream lenders. The realistic path is a shorter term, a joint application, or alternative financing. The key is to talk to multiple lenders and be upfront about age.

Upsides and downsides of the main schemes

The decision: both schemes have clear trade-offs that depend on your long-term plans.

Steps to buy your first home with state support

1. Check your savings and credit record – Aim for at least 10% deposit (or less if using Help to Buy). Clear any outstanding debts.
2. Get mortgage approval in principle – Approach a lender or broker. Lenders participating in First Home Scheme include AIB, Bank of Ireland, and permanent tsb.
3. Apply for Help to Buy – Use Revenue’s myAccount to submit your application. You’ll need tax records for the past four years.
4. Find a new home (or self-build site) – Both schemes require a newly built property or a self-build.
5. Apply for First Home Scheme – Once you have a property in mind and mortgage approval, apply through firsthomescheme.ie. Provide proof of mortgage approval, property details, and your deposit source.
6. Complete the purchase – Your solicitor handles the conveyancing. The scheme’s equity is registered against the property.
7. Move in and comply with residency rules – Help to Buy requires five years of occupation. First Home Scheme requires the property to be your main residence.

After purchasing, consider costs like HVAC installation: HVAC Installation Near Me: Costs, Brands, and Expert Advice.

The sequence: following these steps in order ensures you don’t miss any deadlines.

What’s confirmed and what’s unclear

The bottom line: while some details remain uncertain, the core numbers are solid.

“The First Home Scheme is a national affordable housing scheme that helps first-time buyers and certain other applicants buy a new home or build their first home.”

— Citizens Information (official government information service)

“We can help first-time buyers, self-builders (first time) and fresh start applicants to secure their first home anywhere in the Republic of Ireland.”

— First Home Scheme (government-backed shared equity scheme)

For first-time buyers in Ireland, the decision path is clear: if you’re buying a new home, combine Help to Buy and First Home Scheme to slash your deposit and monthly repayments. If you’re buying second-hand, stamp duty relief is the only state help—so save hard, or consider a new build with subsidies. The trade-off between an older home’s lower price and a new home’s grants needs careful math, but one thing is certain: ignoring these schemes could leave thousands of euros on the table.

For a detailed breakdown of the available grants and deposit assistance, check out this guide to first-time home buyer schemes in Ireland.

Frequently asked questions

The verdict: armed with these answers, you can approach the process with confidence.