FIRST HOME LOAN DEPOSIT SCHEME
Are you a first home buyer? The First Home Loan Deposit Scheme (FHLDS) is a new Government initiative to help Australians purchase their first home.
One of the challenges to first home buyers achieving their dream of home ownership can be the time it takes to save a deposit. The FHLDS provides “a guarantee that will allow eligible first home buyers to purchase a home with a deposit of as little as 5% without needing to pay for lenders mortgage insurance.”1
10,000 new FHLDS places will be made available from July 2020.2
Who is Eligible?
The FHLDS is for individuals earning less than $125,000 and married or de-facto couples earning less than $200,000 in the last financial year.2
Property Price Caps
If you are eligible, the FHLDS assists the purchase or construction of a residential property with a price cap of $600,000 in Melbourne and Victorian regional centres.3
Learn more on the Australian Government’s National Housing Finance and Investment Corporation website.
1 First Home Loan Deposit Scheme: FACT SHEET. National Housing Finance and Investment Corporation.
2 First Home Loan Deposit Scheme (FHLDS). National Housing Finance and Investment Corporation.
3 Property price thresholds. National Housing Finance and Investment Corporation.