Who can apply
First home buyers
To participate in the Scheme, you need to meet borrower eligibility criteria including:
- Australian citizen or permanent resident, at least 18 years old
- Minimum deposit of 5%
- First-home buyer or haven’t owned a property or land in Australia in the past 10 years
- Buying a home priced within property price caps for your area
- Planning to live in the home as an owner-occupier
- Applying for an owner occupied home loan with principal and interest repayments, with a loan term of up to 30 years (if you're building a new home, you can use up to 3 years of this term for construction)
- Applying on your own or jointly (max 2 applicants)
Single parents or legal guardians
To participate in the Scheme, you need to meet borrower eligibility criteria including:
- Australian citizen or permanent resident, at least 18 years old
- Minimum deposit of 2%
- Single parent or single legal guardian of one or more dependent children
- Not holding another property interest at settlement
- Buying a home priced within property price caps for your area
- Planning to live in the home as an owner-occupier (no investment properties)
- Applying for an owner occupied home loan with principal and interest repayments, with a loan term of up to 30 years (if you're building a new home, you can use up to 3 years of this term for construction)
- Applying on your own
Property Price Caps
Search price caps by suburb to see what you can buy under the First Home Buyer Scheme.
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