Special Offers


10,000 new First Home Loan Deposit Scheme places available July 2020

What is the First Home Loan Deposit Scheme?

The First Home Loan Deposit Scheme is an Australian Government initiative to help eligible buyers with the purchase of their first home.

Under the Scheme, the government provides a guarantee enabling eligible first home-buyers to purchase a home with a deposit as little as 5% while foregoing the expense of lenders mortgage insurance.

How does the Scheme work?

Qualified first home-buyers can obtain a loan through participating lenders to purchase an eligible property with as little as 5% in deposit. Up to 15% of the property value, or the balance of the remaining 20% deposit, will be guaranteed by the NHFIC on behalf of the government. 

How many people can get assistance?

Up to 10,000 guaranteed loans per financial year are available.

The first 10,000 places were released on 1 January 2020, with another 10,000 places to be released 1 July 2020.

Who is eligible?

Eligibility checklist:

  • Australian citizenship
    • Applicants are required to be Australian citizens to be eligible. If applying as a couple, both applicants are required to be citizens.
  • Income
    • Singles earning up to $125,000 per annum, or;
    • couples earning a combined taxable income of $200,000 per annum;
  • Prior property ownership
    • The scheme is in place to assist genuine first home-buyers only. Those who have previously owned, or held interest in a property in Australia, are not eligible.
  • Age
    • Must be 18+ years of age at the time of home loan application;
  • Existing deposit
    • Must have a deposit between 5% and 20% of the eligible property value;
  • Owner-occupier
    • Investment properties are not supported under the Scheme. Applicants must have intent to live in the property. If an owner fails to occupy, or subsequently moves out, the home loan will no longer be guaranteed under the Scheme. 

What types of property can be purchased under the Scheme?

For a property to be eligible it must be a residential property in Australia.  Eligible residential properties include:

  • An existing house, townhouse or apartment
  • A house and land package
  • Land together with a separate contract to build a home
  • An off-the-plan apartment or townhouse

Check with your lender to ensure the property meets all necessary requirements. 

Is there a property price threshold?

Yes; property price thresholds are set to ensure the First Home Loan Deposit Scheme is applied to purchase modestly-valued homes.  Price thresholds vary between states and territories, and among capital cities and regional areas. Visit the nhfic.gov.au website to learn more.

Can the Scheme be applied in conjunction with other government incentives?

Yes; the First Home Loan Deposit Scheme can be applied in conjunction with existing incentives such as the First Home Super Saver Scheme, the First Home Owners Grant and stamp duty concessions.  For more information about available incentives in each state, visit:










To download the First Home Loan Deposit Scheme Fact Sheet click here.

For more information about the First Home Loan Deposit scheme, visit www.nhfic.gov.au.



Herein information is sourced from www.nhfic.gov.au.  Interested parties should seek appropriate financial advice and make their own investigations as to eligibility for concessions, rebates, exemptions and grants. Information is current as at May 2020, though is subject to change without notice, and no warranty, express or implied, is given as to its accuracy. AVJennings disclaims liability for any loss, damage or claim of any nature or kind (including negligence) incurred by any party which arises out of any alleged reliance on this article. ® Registered Trademark. © AVJennings Properties Limited. ABN 50 004 601 503. NSW Builders Licence 39168C, QLD Builders Licence No QBCC41712, VIC Builders Licence CDB-U 57318, SA Builders Licence BLD56537.