The Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme) is administered by Housing Australia. It is a government guarantee to a Participating Lender — not a cash payment to the buyer, and not a deposit paid on your behalf.
Under the Scheme’s first home buyer pathway, eligible buyers may purchase with a minimum 5% deposit of the property’s assessed value, where the Participating Lender agrees. The Scheme is designed so that eligible applicants do not pay Lenders Mortgage Insurance (LMI) for a loan supported by the Guarantee. Scheme eligibility alone does not mean a loan will be approved — you must also meet the Participating Lender’s credit policy. Full current rules, property types, and price caps are on the official First Home Buyers site — they can change.
Edgeview Finance can help eligible first home buyers explore whether the Scheme may be relevant to their circumstances as part of a Finance Readiness Check. We describe how the Scheme works and what we will prepare next. We do not decide eligibility, grant Scheme places, or prescribe a lending outcome.
Official detail (guides only — a Participating Lender confirms eligibility):
Important: This panel is general information about the Australian Government 5% Deposit Scheme only. It does not cover any separate Scheme pathway with a lower minimum deposit. It is not credit advice and is not a guarantee you will qualify. Speak with a Participating Lender about your individual situation. Use the page Finance Readiness Check CTA if you want Edgeview to map where you stand and the order of moves before anyone talks to a lender.
General information only · Australian Government 5% Deposit Scheme · retrieved 27 Sep 2026 (Brisbane) · eligibility confirmed by a Participating Lender · not credit advice · Eligibility Checker