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Australian Government 5% Deposit Scheme

Move into your first home sooner with ANZ and the Australian Government 5% Deposit Scheme. Talk to an ANZ Home Loan Specialist today to see if you qualify.

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The information on this page does not apply to ANZ Plus products.

What is the Australian Government 5% Deposit Scheme?

Saving a 20% deposit to buy a home can take years. And without it, you’ll need Lenders Mortgage Insurance (LMI), which could significantly add to your costs.

The Australian Government 5% Deposit Scheme makes home ownership more achievable by helping you buy sooner with a smaller deposit, thanks to a Government guarantee. The Scheme is for aspiring first home buyers with a minimum 5% deposit, or single parents and legal guardians with a minimum 2% deposit.

If you've saved a larger deposit, you may be required to contribute more than the minimum. When applying, you'll need to meet both the Scheme eligibility criteria and ANZ’s eligibility criteria.

Key benefits of the Scheme

Low deposit

Get help owning your first home sooner with a minimum 5% deposit or 2% for single parents.

No LMI

Skip Lenders Mortgage Insurance and save yourself those additional costs.

No income caps

The Scheme isn’t means tested, so a higher income won’t hold you back.

Unlimited spots

With unlimited spots and no waitlist, apply when you’re ready.

Are you eligible for the Scheme?

To access the Scheme, you need to meet borrower eligibility criteria including:

  • Australian citizen or permanent resident
  • Be at least 18 years of age
  • Saved a minimum deposit of 5%
  • A first home buyer (or have not owned a property or land in Australia in the last 10 years)
  • Buying a home in Australia priced at or below the location’s price cap
  • Planning to live in the home as an owner-occupier (no investment properties)
  • Applying for an owner-occupier home loan with Principal and Interest repayments from a Participating Lender, for a term of up to 30 years (plus up to two years to build a new home with ANZ)
  • Applying on your own or jointly with one other person (partner, friend, or family member).

To access the Scheme, you need to meet borrower eligibility criteria including:

  • Australian citizen or permanent resident
  • Be at least 18 years old
  • Saved a minimum deposit of 2%
  • Single parent or single legal guardian of one or more dependent children
  • Not have any other property interests once your new home settles
  • Buying a home in Australia priced at or below the location's price cap
  • Planning to live in the home as an owner-occupier (no investment properties)
  • Applying for an owner-occupier home loan with Principal and Interest repayments from a participating lender, for a term of up to 30 years (plus up to two years to build a new home with ANZ)
  • Applying on your own (no joint applications).

What type of property can you buy?

Any residential property in Australia priced below the property price caps. Properties include:

  • Existing or newly built property
  • Off-the-plan property
  • Vacant land with a fixed-price contract to construct a residence
  • House and land package

How to apply

Government documents to download

Find more information, tools and resources on the Australian Government 5% Deposit Scheme website. You can also download the key fact sheets and guides below.

Useful tips and tools

Connect with us to apply

Make an appointment

Chat with an ANZ Home Loan Specialist by phone, video call or in person at your nearest branch.

Book an appointment

Request a call back

Provide your details and an ANZ Home Loan Specialist will contact you via phone or email.

Response time is 1-3 days.

Request a call back

ANZ Mobile Lenderdisclaimer

ANZ Mobile Lenders are dedicated ANZ Home Loan Specialists who can provide personalised service when and where it suits you.

Find your ANZ Mobile Lender

Talk to your broker

You can also chat to an ANZ accredited broker when it comes to applying for a loan supported under the Scheme.

Your questions answered

The Australian Government provides a guarantee to your lender, helping you get a home loan with a smaller deposit (minimum 5% for first home buyers, or minimum 2% for single parents or legal guardians), but you’re still responsible for all costs and repayments.  

To keep the guarantee, you must meet certain ongoing obligations, such as living in the property as your main home. If these aren’t met, the guarantee could be withdrawn, and your lender may ask you to pay Lenders Mortgage Insurance or other additional costs. Speak to us to find out more.

Start by checking that you meet the Scheme eligibility criteria. Next, make sure you have a deposit to contribute (minimum 5% for first home buyers, or minimum 2% for single parents or legal guardians). Then, engage with a participating lender such as ANZ for a home loan that is backed by the Australian Government 5% Deposit Scheme. Finally, buy your new home and move in.

With a low deposit (just 5% for first home buyers or 2% for single parents or legal guardians), you could shave years off saving for a larger deposit. Plus, with no income caps, no waitlists, and no LMI, it’s easier to get into your own home sooner – with lower upfront costs.

There are unlimited places available for eligible home buyers and no waitlists.

A minimum of 5% of your home's value if you're buying your first home (or haven't owned a home or land in Australia in the last 10 years), or a minimum of 2% if you're a single parent or legal guardian. If you’ve saved a larger deposit, you may be required to contribute more than the minimum.

There are no income caps for the Scheme.

Choose from a new or existing home. This could be a house, townhouse, apartment, house-and-land package, off-the-plan property, or vacant land with a building contract. The property must be in Australia, be within the price cap for your location and you must live in it.

If you’re a first home buyer, you can apply on your own or with one other person, such as a partner, friend, or family member. Both applicants must meet the eligibility criteria.

If you’re applying as a single parent or legal guardian, you can only apply as an individual. Joint applications aren’t allowed.

There are no fees or charges to use the Scheme. But you are responsible for all other home loan costs and repayments, such as stamp duty and conveyancing fees.

The Home Guarantee Scheme was rebranded the Australian Government 5% Deposit Scheme on 1 October 2025. Along with the rebrand, the new Scheme includes several key changes to make it more affordable and accessible:

  • Income caps for applicants have been removed
  • Property price caps have been increased
  • There’s no longer a limit on the number of places for any guarantees
  • The Regional First Home Buyer Guarantee is now closed to new applicants; regional buyers can participate as either first home buyers or single parents/legal guardians, depending on their circumstances

The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditions, Product Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product. 

Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence 234527.

All Scheme applications will also be subject to ANZ’s credit approval criteria.

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ANZ Mobile Lending representatives operate under an ANZ Mortgage Solutions franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 Australian credit licence 234527.

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