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The First Home Loan Deposit Scheme (FHLDS) is a Government initiative which is designed to support eligible first home buyers with attaining their goals of home ownership sooner.

If your application meets the eligibility criteria as set by the National Housing Finance & Investment Corporation (NHFIC), the NHFIC will provide a guarantee to the lender for part of your loan. This will enable you to purchase your first home with a deposit as little as 5% without having to pay any Lender's Mortgage Insurance (LMI).

While the original 10,000 places made available this financial year (2020-2021) have now been reserved, the Australian Government has committed an additional 10,000 places specifically for eligible first home buyers looking to purchase or build new homes. This is called the First Home Loan Deposit Scheme (New Homes).

  • If you're looking to purchase an existing dwelling that has previously been lived in, this means places may not be available to take up under the Scheme. However, if you're still a first home buyer, please contact us, as there may be other ways we can support you.
  • If you're looking to purchase or build a new home, this means you may be eligible to request a reservation of a FHLDS (New Homes) place.

At a Glance

With a FHLDS or FHLDS (New Homes) Guarantee you could purchase a home valued at: $300,000 Pay a deposit of as little as: $15,000 And avoid paying any LMI in conjunction with your loan.

If you were purchasing your first home today, you would normally need to provide a deposit of at least 20% of the property‘s value to avoid paying Lender‘s Mortgage Insurance (LMI).

With a guarantee provided under the First Home Loan Deposit Scheme though, you can provide a deposit of as little as 5% and the guarantee will mean that you can avoid paying LMI.


You can check your potential eligibility for the Scheme by clicking on one of the buttons below.


Available guarantees are limited and expected to run out fast! Submit a Reservation Application today!



Submit a Reservation Application using the online form on this page and one of our Lending Specialists will be in touch to discuss your circumstances and eligibility.

Why not ask our Lending Specialist about the First Home Owners’ Grant and HomeBuilder Grant at the same time!



Our Lending Specialists will let you know what information and supporting documents are required to reserve a Guarantee allocation. Available allocations are limited and are issued by NHFIC on a ‘first in best dressed’ basis. We will confirm with you once a reservation is in place.

If a reservation is confirmed, your allocation will be reserved for 14 calendar days. This allows time for initial assessment of your Home Loan Application.



Once you have a reservation, your Lending Specialist will work with you to process your Home Loan Application. If your Home Loan Application is successful either a Pre-Approval or Conditional Approval can be issued. Both types will have conditions applicable to them. This will allow your reservation to be extended for another 90 days to allow you to select a property to buy or build.



If you haven’t already, select a property you want to buy and your Lending Specialist will help submit your Home Loan application for final assessment.

We will need to obtain a valuation of the property to ensure you still meet the requirements of the FHLDS, as well as our own lending criteria.



Following unconditional approval of your Home Loan Application, your Lending Specialist will assist you with obtaining a Guarantee Certificate from NHFIC and getting your application to Settlement.

After Settlement you are free to move into your First Home!



Auswide Bank Ltd ABN 40 087 652 060, Australian Credit Licence 239686 is the credit issuer. Approval is subject to meeting our credit assessment criteria. Terms, conditions, fees and charges apply. Prior to entering into a credit contract with us you should read our Credit Guide.

Auswide Bank is a panel lender for the First Home Loan Deposit Scheme (FHLDS). Eligibility criteria apply. Once the Scheme allocation for non-major panel lenders has been utilised (or taken up), standard lending approval criteria, including the need for LMI where appropriate, will apply.

To find out more about the First Home Loan Deposit Scheme, download the Australian Government‘s FHLDS Scheme Information Guide. To find out more about the First Home Loan Deposit Scheme (New Homes) places, download the Australian Government’s FHLDS (New Homes) Information Guide.