First Home Scheme Calculator

How the First Home Scheme Works in Ireland

The First Home Scheme (FHS) is a government-backed shared equity scheme that bridges the gap between your mortgage, deposit, and the price of a new home. The government contributes up to 30% of the purchase price — or 20% if you're also using Help to Buy — in exchange for an equity share in your property. Since launching in 2022, over 8,000 buyers have been approved, with more than €273 million in support provided.

Price Ceilings by Area

Your property must fall below the price ceiling for your local authority area. As of January 2026, ceilings are €500,000 in Dublin, Dún Laoghaire-Rathdown, Fingal, South Dublin, and Wicklow. Galway city and Kildare sit at €475,000, Cork and Galway counties at €450,000, and most other counties range from €350,000 to €425,000. These ceilings are reviewed every six months — the next review is due mid-2026.

The Equity Share Explained

For the first five years, the equity share is cost-free. From year six, a service charge of 1.75% applies on the equity amount, rising gradually in later years. You can buy back the share at any time — in full or in stages — but the buyback amount is linked to your home's current market value, not the original price. If your home has risen in value, you'll pay more to redeem the share.

Combining with Help to Buy

Most FHS buyers also claim Help to Buy, which refunds up to €30,000 in income tax for new builds under €500,000. When both are combined, the FHS maximum drops from 30% to 20%, but the total government support can still cover a significant chunk of the price. You must borrow the maximum available from your lender (up to 4× income) before FHS fills the gap — the scheme is designed as a top-up, not a replacement for your mortgage.

Related tools: Help to Buy Calculator · Affordability Calculator · Local Authority Home Loan