First Home Loan Deposit Scheme (FHLDS)

Listen to the episode

The First Home Loan Deposit Scheme is a Australian Government initiative to support eligible first home buyers purchase a home sooner.

It does this by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 per cent.

The Scheme will support up to 10,000 loans each financial year, starting from 1 January 2020.

Please contact us on |PHONE| for information on participating lenders.

Are you an eligible first home buyer?

The Scheme is open to singles or couples.

Singles

If you are looking to purchase your first home as the only person named as a borrower in your home loan, then you would apply under the Scheme as a single.

Couples

If you are looking to purchase your first home with your spouse or de facto partner, where you are both named as borrowers in your home loan, then you would both apply under the Scheme as a couple.

NHFIC has developed a tool to help first home buyers find out whether they meet the Scheme’s eligibility criteria.

Click here to view the Eligibilty tool.

Property price thresholds

To ensure the Scheme is only available for the purchase of a modest home, or the purchase of land and construction of a modest home, the property price thresholds (maximum property purchase price under the Scheme) will apply in capital cities, large regional centres and regional areas.

NHFIC has also developed a tool to help first home buyers find out the property price threshold for the suburb in which they are looking to purchase a property. Please note that this tool is provided as a guide only and does not mean that you will receive either a guarantee or a loan from a participating lender.

Click here to view the price threshold tool.

Fact Sheets

Please click here to download a Fact Sheet

Please click here to download some FAQs

If you have any questions or require further information please contact us on |PHONE|.

Source:

https://www.nhfic.gov.au/what-we-do/fhlds/

Recent stories

EOFY: 5 bad habits small business owners should break in 2021

Listen to the episodeLooking to stay on top of your bookkeeping ahead of EOFY and minimise your tax burden? Start…

Read more

Why investing in bonds still adds up

Listen to the episodeBy Tony Kaye, Senior Personal Finance Writer, Vanguard Australia As an investor, it can be worrying when…

Read more

Switching home loans

Listen to the episodeRefinancing your home loan to take advantage of a lower interest rate might save you money. Before…

Read more

Tips to help make 2020/2021 tax time easier

Listen to the episodeIt’s been a year of change like no other and that extends to tax and superannuation. As…

Read more

The importance of having a will

Listen to the episodeWhile it’s not something anyone likes to think about, planning your estate may make things a little…

Read more