The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to support up to 10,000 eligible first home buyers to purchase their first home each financial year. The New Home Guarantee (NHG) is an additional initiative first launched in November 2020 which supports an additional 10,000 eligible first home buyers build a new dwelling or purchase a newly built dwelling each financial year. These programs are administered by the National Housing Finance and Investment Corporation (NHFIC), a corporate Commonwealth entity.

Under the First Home Loan Deposit Scheme, NHFIC guarantees participating lenders up to 15 per cent of a first home buyer’s home loan, allowing eligible first home buyer’s to purchase a home with a deposit of 5 per cent.  To be eligible first home buyers must meet certain criteria including property price caps, (which vary across states and territories), intention to be an owner-occupier and taxable income under $125,000 (or $200,000 for couples).

See https://www.nhfic.gov.au/research/fhlds-trends-insights-report-2020-21 for further information, including latest statistics by LGA and trends and the full report First Home Loan Deposit Scheme and New Home Guarantee Trends & Insights Report 2020–21.