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Australian Government 5% Deposit Scheme

Starting out or starting over – lower deposits can fast-track your path to buying a home

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    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.

    First home buyers

    minimum 5% deposit

    Single parents or legal guardians

    minimum 2% deposit

    Over 240,000 Australians

    already helped

    About the 5% Deposit Scheme

    The Scheme makes home ownership more achievable by helping you buy a home sooner with a small deposit and Government backing. Here's how it works.

     

    1. Eligible home buyer
    		Home buyer meets all Scheme eligibility criteria.
    2. Small minimum deposit
    		Home buyer saves a minimum deposit to contribute – 5% for first home buyers or 2% for single parents or legal guardians.
    3. Government backing
    		The Australian Government provides a guarantee to a lender authorised to offer the Scheme (Participating Lender) so they can lend the home buyer up to 95% or 98% of the home's value.
    4. Home loan
    		Participating Lender provides a home loan.
    5. Home ownership
    		Home buyer finds and buys a home and moves in.

    What are the key features and benefits?

    • Low deposit options
    • No income caps
    • No Lenders Mortgage Insurance - save on upfront fees
    • Wide choice of home types
    • Government backing
    • Unlimited spots and no waiting list.

    Next steps and how to apply

    Explore the options and fact sheet provided below to find out if the Scheme is right for you - including details on eligibility and how to apply.

    Who can the Scheme help?

    First Home Buyers

    You’re a first home buyer with a minimum 5% deposit

    Find out more

    Single Parents

    You’re a single parent or legal guardian with a minimum 2% deposit

    Find out more

    Fact Sheet

    Read the Fact Sheet to find out more about the Australian Government 5% Deposit Scheme

    Find out more

    Important Information
    This page gives general information about the Australian Government 5% Deposit Scheme. To apply for the Scheme, you’ll need to speak to one our Participating Lenders. They’ll look at your individual situation and let you know if you’re eligible.