The First Home Loan Deposit Scheme is an Australian Government initiative designed to help eligible first home buyers enter the property market sooner by significantly reducing the deposit requirement.
The Australian Government has extended this popular scheme, with 10,000 places available annually. For the 2024-2025 financial year, applications remain open with new spots regularly released.
First home buyers typically need a 20% deposit to avoid Lenders Mortgage Insurance (LMI), which can delay homeownership by years. Through the First Home Loan Deposit Scheme, the National Housing Finance and Investment Corporation (NHFIC) guarantees up to 15% of your home loan from a participating lender, allowing you to:
Standard First Home Purchase:
With the First Home Loan Deposit Scheme:
As experienced Perth building consultants, Emily Rose Homes specialises in guiding first home buyers through this scheme when building a home. Our team coordinates with reputable mortgage brokers who understand the scheme’s requirements.
To qualify for the First Home Loan Deposit Scheme, you must:
For official program details, eligibility requirements, and price caps for Perth and regional WA, visit the National Housing Finance and Investment Corporation website.
Ready to take your first step toward building your dream home in Perth? Contact our building consultants today for personalised guidance on accessing the First Home Loan Deposit Scheme.
Information current as of March 2025. Terms, conditions, and eligibility criteria are subject to change. Please contact Emily Rose Homes for the most up-to-date information.
