5% Deposit Scheme (formerly Home Guarantee Scheme)
The government backs part of your home loan so you can buy your first home with a small deposit.
Opens firsthomebuyers.gov.au, the official site.
unclaimd never asks for your myGov sign-in or bank details. The official site may ask for them, so check the address ends in .gov.au first. How to stay safe
What you need to check
You do not pay lenders mortgage insurance (LMI, an extra fee banks charge for small deposits). First home buyers need a 5% deposit. You must not have owned property or land in Australia in the last 10 years. Single parents and legal guardians of a dependent child need 2%. Since 1 October 2025 there are no income limits and no waiting list. The home must be under the price cap for its area. You must live in the home.
This is a short summary. Other rules may apply, like income or where you live. Check the full rules with the agency that runs it.
Read in Easy English
What it is
- This helps you buy your first home.
- A deposit is the part of the price you pay at the start.
- With this, you only need 5% of the price.
- Single parents only need 2%.
- You do not pay an extra bank fee called LMI.
Who can get it
- It is for first home buyers.
- You must be 18 or older.
- You must be a citizen or permanent resident.
- You must live in the home.
- Each area has a top price.
What to do
- Read the rules on the official website.
- Apply there. It is free to apply.
About this source
We last reviewed this listing on 5 Nov 2026. We last checked the official page on 5 Nov 2026.
Our automatic check only sees whether the page is there or has changed. It is not a check of the rules.