Date posted: 6/10/2020

Extra 10,000 eligible under first-home loan scheme

Eligible buyers will be able to purchase a modest home with a deposit of as little as 5%

An additional 10,000 first-home buyers will become eligible for the First Home Loan Deposit Scheme.

Eligible first-home buyers can purchase a home with a deposit with as little as 5% (normally those with less than a 20% deposit need to pay lenders mortgage insurance).

This is because The National Housing Finance and Investment Corporation guarantees to a participating lender up to 15% of the value of the property purchased that is financed by the buyer’s home loan.

Potential first-home buyers can check their eligibility through the National Housing Finance and Investment Corporation and apply for one of the 10,000 scheme places through a panel of participating lenders.

Treasurer's announcement

Helping an additional 10,000 first home buyers.

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National Housing Finance and Investment Corporation 

First Home Loan Deposit Scheme (FHLDS).

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Eligibility criteria

Use the Eligibility Tool to find out whether you meet the Scheme’s eligibility criteria.

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Participating lenders

Major Bank Lenders

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