Government Support for
Home Buyers

We’re proudly supporting the Australian Government’s home buyer support Schemes.

About the schemes

The Australian Government has created several Schemes to support home buyers purchase their home sooner.
Australian Military Bank is proud to be supporting the initiative and eligible home buyers to enter the property market.

First Home Loan
Deposit Scheme

New Home Guarantee

Family Home Guarantee

Allows eligible first home buyers to purchase a new or existing home with a deposit of as little as 5%.

Allows eligible first home buyers to purchase or build a new home with a deposit of as little as 5%.

Allows eligible single parents to purchase a family home with a deposit of as little as 2%.

About the Process

Scheme eligibility

Not sure which Scheme to apply for? Answer a few questions to find out which Scheme you could apply for.

How does it work?

Under these Schemes, part of an eligible home buyer’s home loan from a Participating Lender will be guaranteed by NHFIC.

When is it available?

From 1 July 2021, 30,000 new places are available under the First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee.

Scheme Eligibility

To apply for these Schemes, you'll be subject to certain eligibility criteria. You need to be able to provide documentation of your eligibility to secure your position.


The National Housing Finance and Investment Corporation's (NHFIC) Scheme eligibility tool

To make things easier, the Australian Government have created an online tool to help you to understand which Scheme you may apply for.

Eligibility criteria include

Applicants must be either First Home Owners (FHLDS/NHG) or eligible single parents (FHG)

Individuals and must have earned less than $125,000 and couples less than $200,000 in the last financial year. Couples must be married or defacto (FHG applicants must be individuals)

All applicants must be at least 18 years of age, Australian citizens and have a Medicare card

There are property price caps which vary depending on the location in which you buy. You can work out your property price cap using NHFIC’s online tool

Are you a member of the Australian Defence Force?

You may be eligible for the DHOAS home loan subsidy.
Get in touch to talk to us about DHOAS or check out our DHOAS Home Loans.

Are you a first home buyer?

There are a number of schemes that may benefit you including First Home Owner Deposit Scheme, First Home Owner Grant and Stamp Duty exemption.

Speak to us today so we can help you make the most of these schemes depending on your circumstances 


LMI is a requirement for borrowers when their home loan deposit is less than 20% of their property’s purchase price. This is charged at the time of settlement and can be paid up front or capitalised onto the total loan amount (conditions apply).


Not all home loans are able to take the benefit of the Scheme. The Scheme is restricted to ‘Eligible Loans’, which are home loans:

  • made by a Participating Lender to
    (1) a single eligible first home buyer, or
    (2) a couple who are both eligible home buyers, and
  • that are for the purchase of an Eligible Property that is to be occupied by you as the owner, for as long as it is backed by the Scheme

In addition to these overarching eligibility requirements, the loans must:

  • be secured by a registered first ranking mortgage over the eligible property
  • have no other registered owners at the time of settlement other than the eligible borrower/s
  • have 100% of the loan drawdown proceeds used for the purchase (or towards the purchase and improvement) or construction of the eligible property
  • have a loan amount commitment not less than 80% and not more than 95% of the relevant Value of the property
  • have a loan term of 30 years or less
  • require regular principal and interest loan repayments. Exception to this will be granted during the construction of a new dwelling, whereby lenders will be able to allow borrowers to make interest only repayments for the period in which the dwelling is being constructed until it can be occupied by the borrower.
  • allow for no changes to loan terms, such as increased limit

​For more information, visit: https://www.nhfic.gov.au/eligibility/


For a property to be eligible for the scheme it must:

  • be a ‘residential property’ – this term has a particular meaning under the Scheme, and you should ask your lender if there is any doubt
  • have a purchase price under the price cap for its location – click here to view the property price caps
  • be purchased by an eligible first home buyer under the scheme
  • at the settlement date for your home loan, you will be the sole registered owner/s of the property
  • be a property which is (1) an established dwelling, or (2) a new-build dwelling that is purchased under a house and land package, a land and separate contract to build a home or an ‘off-the-plan’ arrangement that is financed under an Eligible Loan from a participating lender

​For more information, visit: https://www.nhfic.gov.au/eligibility/

Applications are subject the banks normal lending criteria. Fees charges and lending criteria apply and will be included with our loan offer. A Financial Services Guide (FSG) is available at all Branches, on our website and upon request.

© Australian Military Bank 2021

Australian Military Bank Ltd ABN 48 087 649 741
AFSL and Australian Credit Licence Number 237 988.