FHLDS

The First Home Loan Deposit Scheme is a Government-backed initiative to help Australians

get into their first home sooner.

The National Housing Finance and Investment Corporation (NHFIC) will provide a guarantee for eligible first home buyers on low and middle incomes so that they can purchase a home with a deposit of as little as 5%.

The Scheme will support up to 10,000 home loans each financial year, starting from 1 January 2020, through a panel of participating lenders

Helping you buy your first home sooner

EasyAs Finance proudly working with the big lenders alongside the Australian government on the First Home Loan Deposit Scheme to help more eligible first home buyers get into their first home sooner and purchase through this initiative without having to pay lender's mortgage insurance which can save you thousands of dollars

How does it work?

Eligible applicants will receive a limited guarantee from the Australian Government to purchase their first home with a deposit of as little as 5%,The New Scheme places are released at the start of each financial year, with the latest release on 1 July 2020.

EasyAs Finance can help you to secure your place through our panel of lenders as well as low interest rate and first home buyer grant for eligible applicants

SCHEME ELIGIBILITY

To apply to the Scheme, you'll be subject to the following eligibility criteria and lender approval.

You need to be able to provide documentation of your eligibility to secure your position.

Eligibility criteria includes:

All applicants must be First Home Buyers and must not have owned or had an interest in residential property (whether as an investment or owner occupied).
Individual applicants must have earned less than $125,000 or $200,000 for couples in the last financial year (as evidenced on your ATO Notice of Assessment).
Couples must be married or in a de facto relationship. Other persons buying together, including friends, siblings or a parent/child are not eligible.
All applicants must be at least 18 years of age and have a valid Medicare card (or Defence ID).
All applicants must be Australian citizens with either a valid Australian passport or proof of Australian citizenship. Permanent residents are not eligible.
Applicants must have a deposit of between 5% and 20% of the property’s value.
Your purchased property price must be within the property price threshold for the suburb and postcode.
You can check the property price cap for your area using NHFIC’s online tool.