First Home Loan Deposit Scheme (FHLDS)

The First Home Loan Deposit Scheme is a Australian Government initiative to support eligible first home buyers purchase a home sooner.

It does this by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 per cent.

The Scheme will support up to 10,000 loans each financial year, starting from 1 January 2020.

Are you an eligible first home buyer?

The Scheme is open to singles or couples.

Singles

If you are looking to purchase your first home as the only person named as a borrower in your home loan, then you would apply under the Scheme as a single.

Couples

If you are looking to purchase your first home with your spouse or de facto partner, where you are both named as borrowers in your home loan, then you would both apply under the Scheme as a couple.

NHFIC has developed a tool to help first home buyers find out whether they meet the Scheme’s eligibility criteria.

Click here to view the Eligibilty tool.

Property price thresholds

To ensure the Scheme is only available for the purchase of a modest home, or the purchase of land and construction of a modest home, the property price thresholds (maximum property purchase price under the Scheme) will apply in capital cities, large regional centres and regional areas.

NHFIC has also developed a tool to help first home buyers find out the property price threshold for the suburb in which they are looking to purchase a property. Please note that this tool is provided as a guide only and does not mean that you will receive either a guarantee or a loan from a participating lender.

Click here to view the price threshold tool.