Eligible buyers may purchase with a minimum 5% deposit and no LMI. The scheme supports part of the loan so a participating lender can waive LMI. You still need lender approval, and the property must be within your area's maximum eligible home price (metro vs regional/other).

Talk to an Aussie Broker. We'll confirm eligibility, check your suburb's maximum home price limit, compare lenders and handle your application end-to-end, right through to pre-approval and settlement support.

Yes. From 1 Oct, there are no income caps and no place limits. Maximum home price limits by area still apply, and you must meet lender approval and standard credit criteria.

It's a government-backed pathway (part of the home guarantee framework) that lets eligible first-home buyers purchase with as little as 5% without paying LMI. It's not a cash grant or discount. Area price limits and normal lending checks apply.

There's no fixed end date published for these settings. Policy can change, so treat this as current guidance and check with an Aussie Broker for the latest position before you make decisions.

Broadly, first-home buyers purchasing a principal place of residence within their area's maximum eligible home price, who also meet lender approval (income, expenses, credit history, and responsible lending checks). Final eligibility depends on the lender and the property.

No. Houses, townhouses and units can be eligible, subject to the local price limit, lender policy and valuation.

A home you'll live in (not an investment) that sits within the maximum eligible home price for the area and meets the lender's policy and valuation standards.

The updated settings, no income caps and no place limits, start 1 Oct. If you're planning to buy, organise your documents and pre-approval now so you can move quickly.

No. LMI is waived for eligible applications under the scheme. You'll still need to budget for other costs such as stamp duty, conveyancing, inspections and moving.

From 1 Oct, there are no place limits. Area maximum home price limits still apply, and you must qualify with a lender.

Aussie Brokers work with multiple participating lenders and will compare them for you (not all lenders are available through all brokers).