FHLDS has been extended
As part of the 2020-21 Federal Budget, the Australian Government has committed an additional 10,000 First Home Loan Deposit Scheme (FHLDS) places for the 2020-21 financial year, specifically for eligible first home buyers purchasing new homes.
The additional 10,000 guarantees will be made available in 2020-21 for eligible first home buyers to build a new dwelling or purchase a newly built dwelling with a deposit between 5% and 20% of the property’s value (lender criteria applies). A revised set of property price caps will apply specifically for eligible properties under NHG (New Home Guarantee).
Who is eligible?
The eligibility criteria for the NHG is the same as the criteria for the FHLDS. Applicants must:
- be Australian citizens
- be at least 18 years old
- be first home buyers who have not previously owned, or had an interest in, a property in Australia, either separately or jointly with someone else (this includes residential strata and company title properties)
- have between 5 and 20 per cent of the value of an eligible property for the loan deposit
- have a taxable income of up to $125,000 per annum for the previous financial year (if applying as a single applicant)
- have a combined taxable income of up to $200,000 per annum for the previous financial year (if applying as a couple* application)
- intend to be owner-occupiers of the property**
You need to satisfy all these checks to qualify for the NHG. If you don’t meet the requirements for one or more of these checks, or have questions about any of these matters, you should seek advice on your application from a participating lender.
* Only single (individuals) or couples are eligible for the NHG. Couples are defined as those who are married or in a de-facto relationship with each other. Other persons buying together, including siblings, parent/child or friends, are not eligible for the NHG.
** Investment properties are not eligible for the NHG. In the case of active Australian Defence Force member applicant(s), the guarantee is not subject to the owner-occupier requirement after entering into the loan if they cannot meet this requirement because of their duties.
What are the revised property price caps?
A revised set of property price caps will apply specifically for eligible properties under the NHG and are detailed in the table below.
Region | NHG property price cap |
NSW – Capital City and Regional Centre | $950,000 |
NSW – Other | $600,000 |
VIC – Capital City and Regional Centre | $850,000 |
VIC – Other | $550,000 |
QLD – Capital City and Regional Centre | $650,000 |
QLD – Other | $500,000 |
WA – Capital City | $550,000 |
WA – Other | $400,000 |
SA – Capital City | $550,000 |
SA – Other | $400,000 |
TAS – Capital City | $550,000 |
TAS – Other | $400,000 |
Australian Capital Territory | $600,000 |
Northern Territory | $550,000 |
Jervis Bay Territory & Norfolk Island | $600,000 |
Christmas Island & Cocos (Keeling Island) | $400,000 |
How to apply
Applications can be lodged through the participating lenders. We will organise this on your behalf through the lender you have chosen to submit your loan through.
There have been 27 lenders on the panel of residential mortgage lenders to offer guarantees under the Scheme. All participating lenders are supporting the Scheme by not charging eligible customers higher interest rates than equivalent customers outside the Scheme. All lenders are listed below.

First Home Buyers
Saving a deposit for your first home can be very difficult and sometimes just too hard to achieve, which is why we are so excited the Australian government has introduced the First Home Loan Deposit Scheme.
What is the First Home Loan Deposit Scheme (FHLDS)?
The First Home Loan Deposit Scheme is an 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%.
The Scheme will support up to 10,000 loans each financial year, starting from 1 January 2020.
Eligibility
- The income thresholds will be up to $125,000 per annum for singles and up to $200,000 per annum combined for couples (assessed in the financial year preceding the financial year in which the loan is entered into).
- The Scheme will apply to owner-occupied loans on a principal and interest basis.
- Applicants must intend to move into and live in the property as their principal place of residence (ie they must be owner occupiers).
- Australian citizens who are at least 18 years of age. Permanent residents are not eligible
- Applicants must not have previously owned or had an interest in a residential property, either separately or jointly with someone else (this includes residential strata and company title properties, regardless of whether it was an investment or owner-occupied property and whether it was ever lived in)
- Couples are only eligible for the scheme if they are married or in a de facto relationship. Other persons buying together, including siblings, parent/child or friends, are not eligible
- Applicants must have a deposit of between 5% and 20% of the property’s value
- Your maximum property purchase price is subject to the suburb and postcode of your new property.
- You can only receive the Government Guarantee once.
Property Price Thresholds
The purpose of the scheme is to help with the purchase of a modest home and the value of the residential property must not exceed the price cap for the area in which the property is located. The prices caps:
Region | FY 2019-2020 & 2020-2021 First Home Loan Deposit Scheme Price Cap ($AUD) | FY2021-2022 FHLDS & Family Home Guarantee Price Cap ($AUD) effective 1 July 2021 | FY 2022-2023 First Home Loan Deposit Scheme Price Cap ($AUD) | New Home Guarantee Price Cap ($AUD) effective 6 October 2020 |
---|---|---|---|---|
NSW - capital city, regional centres (Newcastle, Lake Macquarie & Illawarra) | $700,000 | $800,000 | $900,000 | $950,000 |
NSW – other | $450,000 | $600,000 | $750,000 | $600,000 |
VIC – capital city, regional centre (Geelong) | $600,000 | $700,000 | $800,000 | $850,000 |
VIC – other | $375,000 | $500,000 | $650,000 | $5500,000 |
QLD – capital city, regional centres (Gold Coast & Sunshine Coast) | $475,000 | $600,000 | $700,000 | $650,000 |
QLD – other | $400,000 | $450,000 | $500,000 | $500,000 |
WA – capital city | $400,000 | $500,000 | $600,000 | $550,000 |
WA – other | $300,000 | $400,000 | $450,000 | $400,000 |
SA – capital city | $400,000 | $500,000 | $600,000 | $550,000 |
SA – other | $250,000 | $350,000 | $450,000 | $400,000 |
TAS – capital city | $400,000 | $500,000 | $600,000 | $550,000 |
TAS – other | $300,000 | $400,000 | $450,000 | $400,000 |
ACT | $500,000 | $500,000 | $600,000 | $550,000 |
Northern Territory | $375,000 | $500,000 | $600,000 | $550,000 |
Jervis Bay Territory & Norfolk Island | $450,000 | $550,000 | $550,000 | $600,000 |
Christmas Island & Cocos (Keeling) Island | $300,000 | $400,000 | $400,000 | $400,000 |
What type of property can be purchased under the Scheme?
An existing house, townhouse or apartment
A house and land package
Land together with a separate contract to build a home
An off-the-plan apartment or townhouse
How to apply
Applications can be lodged through the participating lenders. We will organise this on your behalf through the lender you have chosen to submit your loan through.
There have been 27 lenders on the panel of residential mortgage lenders to offer guarantees under the Scheme. All participating lenders are supporting the Scheme by not charging eligible customers higher interest rates than equivalent customers outside the Scheme. All lenders are listed below.



What lenders are offering the Scheme
There have been 27 lenders on the panel of residential mortgage lenders to offer guarantees under the Scheme. All participating lenders are supporting the Scheme by not charging eligible customers higher interest rates than equivalent customers outside the Scheme. All lenders are listed below.
Major bank lenders




Non-major bank lenders





























































