The package aims to deliver 1,500 new homes for first-time buyers (FTBs) and key workers by March 2023.
Housebuilders can apply for a share of the £150m by offering plots for sale as First Homes.
The scheme is designed to support FTBs and key workers by offering homes for sale at a discount of at least 30 per cent off market price.
The same per cent discount is passed on with the sale to future FTBs.
These contract awards will start the process of housebuilders engaging with local councils and mortgage lenders and understanding the delivery process before full roll-out through planning.
Leeds Building Society has received its first application under the First Homes banner.
Robert Jenrick MP, housing secretary, said: “It’s great to see the First Homes scheme gaining momentum. Lenders have already seen the first mortgage applications come in. Home builders of all sizes will be able to benefit from this scheme while helping FTBs and key workers onto the property ladders.”
Peter Freeman, chair of Homes England, added: “The early delivery programme is a great opportunity for housebuilders, housing associations and the wider development sector to get to grips with First Homes.”