Your Home.
Your Deposit.
Your Future.
The Australian Government 5% Deposit Scheme helps eligible buyers purchase a home with as little as a 5% deposit — or 2% for single parents — with zero LMI, no income caps, and no waitlists.
Two Schemes, One Umbrella
The Australian Government 5% Deposit Scheme consolidates two distinct programs under a single initiative — each with its own eligibility rules and deposit requirements.
First Home Guarantee
For people buying their first home who haven't owned property in Australia in the past 10 years.
Family Home Guarantee
For single parents or legal guardians with at least one dependent child. Previous homeowners may also qualify.
What changed with the rebrand?
The Home Guarantee Scheme is now the Australian Government 5% Deposit Scheme. Along with the name change came the most significant expansion in the program's history.
Why Use the Scheme?
The Scheme removes the biggest barriers standing between eligible Australians and homeownership.
Smaller Deposit
Buy with just a 5% deposit as a first home buyer, or as little as 2% as a single parent or legal guardian — years ahead of saving a traditional 20%.
Zero LMI
A government guarantee replaces the need for Lenders Mortgage Insurance, saving eligible buyers thousands — sometimes tens of thousands — in upfront costs.
No Income Caps
Since 1 October 2025, income limits have been removed entirely, making the Scheme accessible to a much wider range of Australian buyers.
No Waitlists
Previously capped at limited annual places, the updated Scheme now has no waitlists. Eligible buyers can apply at any time through a participating lender.
Higher Price Caps
Property price thresholds have been raised across all states and territories to better reflect current housing market values and give buyers more choice.
Flexible Properties
New or existing homes, townhouses, apartments, house and land packages, or land with a construction contract — you choose what suits your lifestyle.
How it works — in 4 steps
Meet eligibility criteria
Confirm you qualify based on residency, buyer status, and deposit.
Save your deposit
5% for first home buyers, or 2% for single parents and legal guardians.
Apply with a lender
Choose a participating lender — they submit the application on your behalf.
Buy and move in
Purchase your eligible property and move in within 6 months of settlement.
Participating Lenders
Over 30 authorised lenders across Australia are approved to offer the Scheme. They will assess your eligibility, guide you through suitable loan options, and submit your application on your behalf.
Important: You must apply through a participating lender — applications cannot be made directly with the government.
Major Banks
All Participating Lenders
Lender tip: Each participating lender has its own credit policies and assessment criteria. A mortgage broker can compare multiple lenders simultaneously, helping you find the best interest rate and most suitable loan structure — often at no cost to you. For the most current full lender list, visit housingaustralia.gov.au.
Frequently Asked Questions
Everything you need to know about the Australian Government 5% Deposit Scheme.