The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to support eligible first home buyers to build or purchase a first home sooner. The Scheme is administered by the National Housing Finance and Investment Corporation (NHFIC).
Usually first home buyers with less than a 20 per cent deposit need to pay lenders mortgage insurance. Under the Scheme, eligible first home buyers can purchase or build a new home with a deposit of as little as 5 per cent (lenders criteria apply). This is because NHFIC guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible first home buyer’s home loan.
In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).
There are currently 27 participating lenders across Australia offering places under the First Home Loan Deposit Scheme.
To find out more information about the First Home Loan Deposit Scheme and the FHLDS (New Homes), please select an option below:
Learn more about the FHLDS (New Homes)
Apply directly with a participating lender
Meet some of our first home buyers who have benefited from the Scheme
Contact a participating lender if you have questions or would like to apply for a Scheme place.
Have a general question about the Scheme?