The new Government-backed initiative to help Australians get into their first home sooner is now available.

The First Home Loan Deposit Scheme (FHLDS) means you can buy your house with a deposit of as little as 5%.  This could save you a substantial amount of Lender’s Mortgage Insurance (on average about $12,500) and can be used alongside other government grants and concessions.


The borrower must:

  • be a first home buyer, an Australian citizen and over 18;
  • have taxable income below the threshold (individuals up to $125k p.a & couples up to $200k p.a).  A couple means only those who are married or in a de facto relationship); and
  • have 5% deposit saved.


The loan:

  • is available through one of 27 nominated lenders, we can help you select the best option;
  • requires regular principal and interest repayments over a loan term of 30 years or less.

The property:

  • must be residential property only;
  • is to be ‘modest’ and must have a purchase price under the cap for it’s location, eg $475k in Brisbane and regional centres, and $400k for the rest of the state;
  • can be an existing house (including townhouse or apartment) or a new build, including off the plan.
  • 10,000 scheme places were released (and quickly snapped up) in January 2020. First home buyers interested in applying for the Scheme should speak to us, as places may become available over the coming months if existing applicants do not purchase a property. Another 10,000 scheme places will become available from July 2020.


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