Australian Government 5% Deposit Scheme
What is the Australian Government 5% Deposit Scheme?
Imagine unlocking the door to your very own home, sooner than you ever thought possible. With the Australian Government 5% Deposit Scheme - now with expanded eligibility - you can own your first home sooner.
The Scheme is for aspiring home buyers just like you - first home buyers with a minimum 5% deposit, or single parents or legal guardians with a minimum 2% deposit.
From 1 October 2025, the changes to the Scheme meant no income caps, no waitlists and no Lenders Mortgage Insurance. It will reduce your upfront costs and get you on the path to home ownership sooner. Whether you're eyeing a cosy apartment, family house or building on vacant land - the Australian Government can help you into a home that suits your lifestyle, locations and budget, right across the country.
We've already helped over 248,000 Australians since the Scheme commenced in 2020 - could you be next?
The Australian Government 5% Deposit Scheme was formerly known as the Home Guarantee Scheme.
Who can the Scheme help?
How to Apply
Ready to turn your dream into reality? Follow these simple steps:
1. Check your eligibility | Use our quick online tool to see if you are eligible – it takes just minutes and asks about your situation, deposit, and home plans. Also read this website and Information Guide or Information Guide for Single Parents or Legal Guardians for more details. |
2. Contact a Participating Lender | Chat with one of our Participating Lenders. They'll assess your eligibility, guide you through loan options, and submit your application. Provide documents such as your full name, date of birth, Medicare number (or PMKey if relevant), proof of citizenship or residency, and a completed Home Buyer Declaration form. |
3. Search for a Home | Once pre-approved, you'll have 90 days to find a home and sign a contract of sale. Use our handy tool to check the price cap for the location you want to buy in. The tool is only a guide - confirm the price cap with your Participating Lender for any home you are considering buying. |
4. Buy your Home and move in | Once you find your new home and sign a contract of sale, your Participating Lender will manage the final approvals. Once settlement is completed, it is time to move in! |
You can't apply directly to Housing Australia - only through a Participating Lender as part of a home loan application.
Ongoing obligations
The Scheme involves the Australian Government providing a guarantee to your lender to help you get a loan with a small deposit, but you’re responsible for all costs and repayments. To keep the guarantee, you must meet obligations on an ongoing basis, such as living in the property as an owner-occupier. If these aren't met, the guarantee may no longer apply, and your lender may require you to pay Lenders Mortgage Insurance or other additional costs. Talk to a Participating Lender to learn more.
Ready to Apply?
Chat with one of our Participating Lenders.
Check out who is on the list.