What is the First Home Loan Deposit Scheme?

The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to help you buy or build your first home sooner. We're proud to continue supporting this initiative.

If you’re eligible you’ll get a limited guarantee from the Australian Government to buy or build your first home with a low deposit of 5%, without paying Lenders Mortgage Insurance (LMI).

There are 10,000 FHLDS places available from July 2021 for the 2021-22 financial year.

New Home Guarantee

An additional 10,000 FHLDS places for new homes are available from 1 July 2021 to 30 June 2022 for eligible first home buyers building or buying new homes.

How to apply

  1. Check your eligibility:

    Use the National Housing Finance and Investment Corporation (NHFIC) website, opens in new window 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 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 your first home after you’re approved in the Scheme, then all you need to do is settle and move in.

Eligibility criteria

To apply to the Scheme, you'll be subject to the following eligibility criteria. You need to be able to provide documentation of your eligibility to secure your position.

Eligibility criteria includes:

  • All applicants must be First Home Buyers and must not have owned or had an interest in residential property (whether as an investment or owner occupied).

  • Individual applicants must have earned less than $125,000 or $200,000 for couples in the last financial year (as evidenced on your ATO Notice of Assessment).

  • Couples must be married or in a de facto relationship. Other persons buying together, including friends, siblings or a parent/child are not eligible.

  • All applicants must be at least 18 years of age and have a valid Medicare card (or Defence ID).

  • All applicants must be Australian citizens with either a valid Australian passport or proof of Australian citizenship. Permanent residents are not eligible.

  • Applicants must have a deposit of between 5% and 20% of the property’s value.

  • Your purchased property must be an acceptable property type and within the property price threshold for the suburb and postcode. You can check the property price cap for your area on NHFIC’s website, opens in new window.

Fact sheets and information guides

NHFIC Fact Sheet on the FHLDS (PDF, 378KB), opens in new window

NHFIC FHLDS Information Guide (PDF, 2MB), opens in new window

NHFIC FHLDS (New Homes) Fact Sheet (PDF, 324KB), opens in new window

NHFIC FHLDS (New Homes) Scheme Information Guide (PDF, 3MB), opens in new window

Ready to get started?

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

Book an appointment

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A guide to buying your first home

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

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Important information