To be eligible for the First Homes Scheme (FHS) you must:

•  be over 18 years of age
•  be a first-time buyer or an eligible homebuyer (see below)
•  have a Mortgage Approval from a Participating Lender
•  borrow the maximum mortgage amount available to you from a Participating Lender (up to 4 x your income)
•  You cannot avail of a Macro Prudential Exception (MPE) from your Participating Lender i.e., borrow more than 4 x your income
•  agree to a minimum equity share of 2.5% of the property purchase price, or €10,000, whichever is higher
•  have a minimum deposit of 10% of the property purchase price
•  purchase a property intended as your Principal Private Residence
•  purchase a qualifying house or apartment in a private development in the Republic of Ireland
•  purchase a property within the property price ceilings based on local authority area

You may also be an eligible homebuyer if you have previously purchased or built a property in the Republic of Ireland:

•  with a spouse, civil partner, or partner, and that relationship has ended. You must not retain a beneficial interest in the previous property, or
•  you have sold (or divested of) that property as part of a personal insolvency or bankruptcy arrangement, or other legal process as a consequence of insolvency

An eligibility calculator is available on the First Homes website which will assist prospective Purchasers in determining whether they are eligible for the FHS, and it can advise them of the maximum funding that may be available to them from the FHS in the form of an equity share.