Australian Government 5% Deposit Scheme

Eligible buyers may qualify under the Australian Government 5% Deposit Scheme.

Let Horizon help you get into your first home sooner with the Australian Government 5% Deposit Scheme.

This scheme reduces your upfront costs with no income caps, no waitlists and no lenders mortgage insurance (LMI) so you're on the path to homeownership quicker.

Find something that suits your lifestyle and your budget with a wide choice of home types, both new and existing. Have flexibility on the type of property you're after whether that's a family home, an apartment, or you're wanting to build on vacant land - as long as the property meets the location specific price caps.

How it works

Low minimum deposit

First home buyers must save a minimum deposit of 5% or 2% for single parents.
Government backing

The Australian Government provides a guarantee to the authorised lender so that they're able to provide a loan to the home buyer for up to 95% or 98% of the home's value.
No LMI fees

The home buyer will not be required to pay for lenders mortgage insurance (LMI) which reduces the upfront costs needed when purchasing a home.