First Home Loan Deposit Scheme
The First Home Loan Deposit Scheme is a Australian Government initiative to support eligible first home buyers purchase a home sooner. The initiative has been established and is managed by the National Housing Financing Investment Commission (NHFIC)
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.
We understand that saving a deposit for a home can be challenging and we support initiatives like the FHLDS that may help customers enter the property market sooner. Eligible borrowers can use the Scheme in conjunction with other government programs like the First Home Super Saver Scheme, state and territory First Home Owner Grants and stamp duty concessions.
The Scheme will complement a number of our lenders offering competitive products and services, including variable rate as well as Fixed Rates for new and existing customers.
