We’re proudly supporting the Australian Government 5% Deposit Scheme. Find the
information you need to buy your home as a first home buyer or single parent.
Scheme changes from October 1, 2025
The Australian Government 5% Deposit Scheme is for aspiring home buyers – first home buyers with a minimum 5% deposit, or single parents with a minimum of 2%. We’re proud to continue supporting this initiative.
Scheme features
- Low deposit options
- No income caps
- No Lenders Mortgage Insurance (LMI)
- Unlimited spots and no waiting lists
- Purchase a property up to the property price caps set by the scheme for your location
- Government-backed support: the Australian Government provides a guarantee to NAB to enable you to buy your home with a lower deposit.
Eligibility criteria
The Australian Government 5% Deposit Scheme gives you the flexibility to choose the type of home that suits your lifestyle, location and budget, right across Australia. To access the Scheme, you need to meet borrower eligibility criteria including:
- All applicants must be Australian citizens or permanent residents at least 18 years of age.
- Applicants must have saved a minimum deposit of 5% for first home buyers or 2% for single parents.
- First home buyers must not have owned (in full or in part) residential property (whether as an investment or owner occupied) in the past 10 years.
- Single parent applicants may have owned property within the past 10 years, but must not have interest in residential property, either as an investor or owner occupier when settling on their new property.
- Applicants must buy a home in Australia priced at or below the location’s price cap.
- Applicants must plan to live in the home as an owner occupier (the Scheme is not available for investment properties).
- Applicants must apply for an owner occupier home loan with principal and interest repayments from a participating lender with a loan term of up to 30 years.
- Applicants can apply on their own or jointly with a partner, friend, or family member (maximum of two applicants).