The Australian Government 5% Deposit Scheme helps you into your new family home if you have saved a minimum 2% deposit.
The Australian Government 5% Deposit Scheme helps single parents or legal guardians who have saved a minimum 2% deposit to buy a new home with a government guarantee.
The Australian Government 5% Deposit Scheme gives you the flexibility to choose the type of home that suits your lifestyle, location and budget, right across Australia.
Both the purchase price and the home’s value (as assessed by your Participating Lender) must stay at or below the cap. For building a new home on vacant land with separate contracts, the total land price plus build costs need to come in under the cap too.
Check the Postcode Search Tool to find the price cap for your desired location. It’s only a guide – confirm with your Lender for any home you’re considering buying.
For regional centres in NSW (for example Newcastle and Lake Macquarie) the price cap is $1.5million and for other areas (for example Maitland) the cap is $800,000.
Housing Australia also has a Borrower Eligibility Tool to help home buyers identify your borrower eligibility for the Scheme.
Single parents or legal guardians with a minimum of 2% deposit.
There are unlimited places available under the Australian Government 5% Deposit Scheme from 1 October 2025.
Lenders Mortgage Insurance (LMI) is a one-off premium added to your home loan if you do not have a 20% deposit. It is an insurance policy which covers the lender against the losses they may suffer if the borrower can no longer pay loan repayments. If a borrower defaults on their mortgage, LMI means the lender can recover what is owed to them by repossessing the property the home loan is tied to. If the property’s value has fallen, the lender can suffer a loss. This is the risk LMI covers.
Our Package Home Loan offers a great rate, flexible features and valuable benefits for owner-occupied or investment properties, all for an annual package fee.
The simple solution for your owner occupied or investment property. It offers competitive interest rates and features to help you purchase, build or refinance your home sooner.
Maximum flexibility to access the equity in your home and make mortgage repayments at your convenience, up to your credit limit. It combines your home loan and everyday accounts into one, allowing you to pay your salary directly off your loan and access available equity to cover your everyday living expenses.
Enjoy a low, variable interest rate for your property with no application fee and no annual fee.
Rate only available for new loans with a minimum loan amount of $150,000, for the relevant fixed period and product purpose. Annual Package fee of $395 payable. Offer can be withdrawn at any time. On expiry of the fixed rate period the rate will revert to the relevant Standard Home Loan Variable Rate minus the contracted margin.
Rate only available for new loans with a minimum loan amount of $20,000, for the relevant fixed rate period and product purpose. On expiry of the fixed rate period the rate will revert to the relevant Standard Home Loan Variable Rate minus the contracted margin if applicable.
First Home Buyer Special Offer: Rate includes a discount margin off the applicable Owner Occupied Budget Home Loan Variable Rate. Margin and rate subject to change. Offer is available to First Home Buyers for new loans with a minimum amount of $500,000 with a LVR up to 95%. Offer may be withdrawn at any time. Non-First Home Buyers Special Offer: Rate includes a discount margin off the applicable Owner Occupied Budget Home Loan Variable Rate. Margin and rate subject to change. Rate only available for new loans to The Mutual Bank with minimum new loan amount of $100,000 and maximum LVR of 80%. Offer may be withdrawn at any time.
The Australian Government 5% Deposit Scheme eligibility criteria apply. Eligibility criteria, terms, conditions, fees, and charges apply to all home loans and are available on application.
