This is an Australian Government initiative to support eligible first home buyers purchase their first home sooner with a 5% deposit and no Lenders Mortgage Insurance (LMI).
Eligible first home buyers can apply for a loan to either build or purchase an eligible property through a participating lender, up until 30 June 2022.
A newly constructed dwelling also includes a home that has been substantially renovated, or knocked down and rebuilt, by the vendor.
Limited places are available for this scheme.
You must be an Australian citizen, aged 18 years or over. Permanent residents aren’t eligible. Single applicants must have earned $125,000 or less in the previous financial year and couples $200,000 per annum for the previous financial year. Couples are only eligible if they are married or in a de-facto relationship.
Contact a mortgage broker who can help you lodge your application through one of the participating lenders.
Find out more on how to apply at