Scheme changes from October 1, 2025

The Home Guarantee Schemes will change to the Australian Government 5% Deposit Scheme from 1 October 2025. Make sure to check any updates to eligibility that may apply.

Understanding the Australian Government 5% Deposit Scheme

The Australian Government 5% Deposit Scheme is for aspiring home buyers – first home buyers with a minimum 5% deposit, or single parents with a minimum of 2%. We're proud to continue supporting this initiative.

Scheme features

  • Low deposit options
  • No income caps
  • No Lenders Mortgage Insurance (LMI)
  • Unlimited spots and no waiting lists
  • Purchase a property up to the property price caps set by the scheme for your location
  • Government-backed support: the Australian Government provides a guarantee to NAB to enable you to buy your home with a lower deposit.

Eligibility criteria

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. To access the Scheme, you need to meet borrower eligibility criteria including:

  • All applicants must be Australian citizens or permanent residents at least 18 years of age.

  • Applicants must have saved a minimum deposit of 5% for first home buyers or 2% for single parents.

  • First home buyers must not have owned (in full or in part) residential property (whether as an investment or owner occupied) in the past 10 years.

  • Single parent applicants may have owned property within the past 10 years, but must not have interest in residential property, either as an investor or owner occupier when settling on their new property.

  • Applicants must buy a home in Australia priced at or below the location’s price cap.

  • Applicants must plan to live in the home as an owner occupier (the Scheme is not available for investment properties).

  • Applicants must apply for an owner occupier home loan with principal and interest repayments from a participating lender with a loan term of up to 30 years.

  • Applicants can apply on their own or jointly with a partner, friend, or family member (maximum of two applicants).

Eligible property types

Only residential properties are eligible for the Australian Government 5% Deposit Scheme. These include:

Both the purchase price and the home’s value must meet or come in below the cap. If building a new home on vacant land with separate contracts, the total land price plus build costs must come in under the cap.

Need advice on which home loan to choose?

We’re here to make home loans simpler and easier with our popular tools, home loan offers and helpful calculators.

See our range of home loans and helpful guides

Property price caps 

Property price caps are the same for first home buyers and single parents.

Use the Postcode Search Tool to find the price cap for the area you’d like to buy.

LocationProperty price cap effective 1 October 2025
NSW – capital city and regional centre$1,500,000
NSW – other$800,000
VIC – capital city and regional centre$950,000
VIC – other$650,000
QLD – capital city and regional centre$1,000,000
QLD – other$700,000
WA – capital city$850,000
WA – other$600,000
SA – capital city$900,000
SA – other$500,000
TAS – capital city$700,000
TAS – other$550,000
ACT$1,000,000
NT$600,000
Jervis Bay Territory and Norfolk Island$550,000
Christmas Island and Cocos (Keeling) Islands$400,000

How to apply

1. Check your eligibility

Use the Housing Australia website and the section below to check your eligibility.

2. Get in touch

Book an appointment online, at your local branch or with your broker and complete your NAB home loan application.

3. Submit your application

Get conditional approval from your banker or through your broker. They’ll then collect the documents required for eligibility and reserve your place in the Scheme.

4. Buy your first home

You’ll have 90 days to purchase a home after you’re approved in the Scheme, then all you need to do is settle and move in.

Fact sheets and information guides

Australian Government 5% Deposit Scheme Fact sheet (PDF, 1MB)

Housing Australia First Home Buyer Information Guide (PDF, 2MB)

Housing Australia Single Parent Information Guide (PDF, 2MB)

Australian Government 5% Deposit Scheme Home Buyer Declaration Form (PDF, 585KB)

Ready to get started?

When you’re ready to apply, you can book an appointment online or request a call from a NAB home loan expert who will help you with your application.

Talk to an expert

Buying your first home

Here are some helpful articles to get you on your way.

How much do you need for a house deposit

Tips to help you save a deposit for a home loan.

First home buyer’s guide

Our easy step-by-step guide to buying your first home.

Which home loan is right for me?

We’ll help you find a home loan that suits your needs.

Contact us for home loan related queries

This is how you can get in touch.

Start a conversation with a banker

  1. Log into either NAB Internet Banking or the NAB app.
  2. Tap on the message icon.
  3. Type ‘speak to a person’ in the conversation window.

Call us

Speak to a home loan expert about a new or existing home loan.

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Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT)

13 78 79

Book an appointment

Make an appointment to see us at your nearest branch, ask a mobile banker to come to you or ask us to call you back.

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