Australian Government 5% Deposit Scheme
Whether you’re a first home buyer or single parent, we’re here to help you to buy a home sooner.
What is the 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%.
As a participating lender, we can help you understand how the Scheme works, check if you're eligible and guide you through the process of applying for a home loan.
Key features and benefits
Low deposit
Buy your first home with as little as a 5% deposit or 2% for single parents or single legal guardians.
No LMI
Avoid paying Lenders Mortgage Insurance, which can save you thousands in upfront costs.
Unlimited spots and no wait list
Apply when you're ready.
No income caps
Your income doesn't restrict your access.
Are you eligible?
Eligible property types
- Existing house, townhouse or apartment
- House and land package
- Land and a separate contract to build a home
- Off the plan (after titles are issued)
Property price caps
The 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 us) must not exceed the price 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 Price Cap too.
The same property price caps apply to first home buyers and single parents. To check a price cap for a specific location, use the Postcode Search Tool.
| Location | Property Price Cap effective 1 July 2026 |
|---|---|
| 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 - capital city | $750,000 |
| NT - other | $600,000 |
| Jervis Bay Territory and Norfolk Island | $550,000 |
| Christmas Island and Cocos (Keeling) Islands | $400,000 |
* Regional centres are (1) in New South Wales - Central Coast, Coffs Harbour– Grafton, Illawarra, Mid North Coast, Newcastle and Lake Macquarie, Richmond– Tweed (2) in Victoria - Geelong, and (3) in Queensland - Gold Coast and Sunshine Coast.
Thinking about buying?
More information
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