First Home Loan Deposit Scheme



First Home Loan Deposit Scheme

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.

Download the FHLDS Factsheet


Applicants under the Scheme will be subject to eligibility criteria, including criteria in relation to income thresholds and property prices.

The income thresholds will be up to $125,000 per annum for singles and up to $200,000 per annum combined for couples (assessed in the financial year preceding the financial year in which the loan is entered into).

The Scheme will apply to owner-occupied loans on a principal and interest basis.

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, property price thresholds (maximum property purchase price under the Scheme) will apply in capital cities, large regional centres and regional areas. The below are for Queensland:

QLD (capital city) $475,000

QLD Gold/Sunshine Coasts $475,000

QLD other $400,000

How to apply

The First Home Loan Deposit Scheme will start on 1 January 2020.

Once the Scheme commences, applications will be lodged through participating lenders and their authorised representatives.

Visit the FHLDS Govt Page

Participating Lenders

NHFIC has appointed 27 lenders on the panel of residential mortgage lenders to offer guarantees under the Scheme.

Both National Australia Bank and Commonwealth Bank of Australia will offer guaranteed loans from 1 January 2020.

The 25 non-major lenders will begin offering guaranteed loans from 1 February.

All participating lenders are supporting the Scheme by not charging eligible customers higher interest rates than equivalent customers outside the Scheme.


Major bank lenders


Non-major lenders











By | 2019-12-18T14:53:24+00:00 December 18th, 2019|News|