Australian Government - 5% Deposit Scheme
Allows eligible buyers to purchase or build a home with a 5% deposit (or 2% for eligible single parents) without paying Lenders Mortgage Insurance (LMI).
Key features:
Available for new and existing homes
Owner-occupier only (not for investment)
Must be in individual name (not company or trust)
Maximum LVR : 95%
No income caps apply.
Stamp duty may apply, with concessions depending on state
No LMI required
Eligibility
Australian citizens or permanent residents
18+ years old
First home buyers OR previous homeowners who have not owned property in Australia in the past 10 years
Must have a 5% deposit minimum (or 2% for eligible single parents)
Property price caps apply, in NSW (from 1 Oct 2025):
$1,500,000 (capital cities / large regional centres)
$800,000 (rest of state)
Limited places available each year, so eligibility does not guarantee a spot
Australian Government - Help to Buy Scheme
Is a shared equity scheme where the Australian Government contributes toward the purchase of your home. Eligible buyers can purchase or build a home with a 2% deposit and avoid paying Lenders Mortgage Insurance (LMI).
Key features :
Government contributes up to
30% (existing homes) or
40% (new homes)
Available for new and existing homes
Owner-occupiers only (not for investment)
Purchase must be in individual names (not company or trust)
Eligibility :
Australian citizens (and possibly permanent residents, subject to final rules)
18+ years old
First home buyers or previous owners who don’t currently own property
Income caps: $100,000 (single) or $160,000 (joint/single parent)
Minimum 2% deposit required.
Other considerations :
Property price caps apply depending on location.
Stamp duty may apply, with concessions depending on state.
Limited places available each year.
Check out the ‘Help to buy’ eligibility tool.
First Home Buyer Assistance Scheme (FHBAS)
FHBAS provides stamp duty exemptions or concessions to eligible first home buyers in NSW when purchasing a new or existing home, or vacant land.
Key features :
Available for new and existing homes, as well as vacant land
Can significantly reduce upfront purchase costs
Applies at the time of purchase (not ongoing)
Eligibility :
Australian citizens or permanent residents
18+ years old
Must be a first home buyer
Must move into the property within 12 months and live in it continuously for at least 12 months.
Must be in individual name (not company or trust)
Owner - occupier only (not for investment)
Property value thresholds (NSW)
Full exemption:
Up to $800,000 (homes) $350,000 (Vacant Land)
Concessions:
$800,000 to $1,000,000 (homes) and $350,000 to $450,000
Can often be combined with other schemes (eg. 5% Deposit Scheme)
First Home Owners Grant (FHOG) for new homes
The FHOG provides a $10,000 grant to eligible first home buyers who buy or build a new home.
Key features :
$10,000 one-off grant
Only available for new homes (not established homes)
Applies to:
Newly built homes
Off-the-plan purchases
Substantially renovated homes
House & land packages
Owner-builder projects
Property value thresholds
$600,000 for newly built house, townhouse, apartment, unit, or substantially renovated home
$750,000 for vacant land + building contract or owner-builder
Eligibility :
Australian citizens OR Permanent residents
18+ years old.
Never owned a residential home in Australia before 1 July 2000.
Purchasing in individual name (not a Company or Trust)
Owner occupied purpose - not for investment (If you have previously owned an investment property you may still be eligible)
Must move into the property within 12 months and live in it continuously for at least 12 months.
You may still be eligible for the FHOG if you or spouse purchased a residential property after 1 July 2000 and didn’t live in it for more than 6 continuous months.