The First Home Loan Deposit Scheme (FHLDS) is a program from the federal government’s National Housing Finance and Investment Corporation (NHFIC). The Australian government initiative is designed to support Australian first home buyers by allowing them to purchase property with a deposit of just 5%, and without having to pay for Lender’s Mortgage Insurance (LMI).
It is one of the three key schemes offered by the NHFIC to assist struggling homebuyers purchase a property sooner:
- First Home Loan Deposit Scheme - Buy your first home sooner with a deposit of as little as 5%.
- New Home Guarantee - Build or buy a new home with a deposit of as little as 5% (higher property price caps may be available)
- Family Home Guarantee - Supports eligible single parents with at least one dependent child to purchase a home with a deposit of as little as 2%.