How does the Australian Government 5% Deposit scheme work?

The Australian Government 5% Deposit Scheme allows eligible first-home buyers to purchase a property with as little as 5% deposit, without paying Lenders Mortgage Insurance (LMI). The buyer provides the 5% deposit, and the government guarantees up to 15% of the property value to the lender, so the bank treats the loan as if the buyer had a 20% deposit. The government does not contribute cash or take ownership of the property. Buyers must still cover other costs such as stamp duty (unless exempt), legal fees, and inspections. Eligibility criteria, property price caps apply.

How can I access government incentives for first-home buyers?

Government incentives are available to eligible first-home buyers and vary by state. We’ll assess your situation and help you access the grants and schemes you qualify for.

What fees should I be prepared for?

In addition to your deposit, you’ll need to budget for stamp duty (if applicable), transfer of land fee, legal fees, inspections, and loan setup costs. We’ll help you plan for these upfront.

First-Time Homebuyers with a 5% Deposit

Q: Am I eligible for the Australian Government 5% Deposit Scheme?

Eligibility depends on whether you're a first-time homebuyer and property value. We’ll assess your situation and confirm your eligibility during the consultation.

We help first-time homebuyers:

Navigate the home loan process
Access government schemes
Calculate deposit, and understand all the costs involved with professional support from start to finish.

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Download Free Guide

Specializing in First home buyer with just a 5% deposit and refinancing

How we can help

We specialize in helping first-time homebuyers secure a loan with only a 5% deposit, using the Australian Government 5% Deposit Scheme to help you avoid Lenders Mortgage Insurance (LMI).
Not sure where to start? Our team will walk you through each step of the home loan process, explaining everything in clear, simple terms.
We’ll make sure you’re aware of any first-home buyer grants and incentives available, like the First Home Owner Grants, to help you save on costs.
Get a clear picture of how much you need to save, covering everything from deposit to stamp duty and other fees.
Whether it's your first inquiry or settlement day, we’ll be by your side to make sure the process goes smoothly, no surprises, just expert help.
We provide expert mortgage guidance without charging you a fee.

Start with Just a 5% Deposit

Expert Loan Guidance

Access Government Schemes

Calculate Your Deposit & Fees

Full Support Throughout

Completely Free of Charge

Book Free Consultation

Download Free Guide

Specializing in First home buyer with just a 5% deposit without LMI and refinancing

How to Buy Your First Home with Just 5% Deposit

Get all the information you need to buy your first home in one convenient guide:

Find out if you are eligible to access government grants and other incentives.
How the Australian Government 5% Deposit Scheme works to save you from paying LMI.
A complete breakdown of deposits, fees, and stamp duty.
Step-by-step guidance through the loan application process.

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Download Free Guide

Case Study

Meet Jon and Jen, a couple from Melbourne looking to purchase their first home, valued at approximately $650,000.
In a typical situation, Jon and Jen would need to save a 20% deposit, which amounts to $130,000, in addition to covering other costs such as stamp duty, transfer of land fees, legal fees, and loan establishment and settlement fees.
However, with the Australian Government 5% Deposit Scheme, Jon and Jen only need to put down a 5% deposit, which is just $32,500. This significantly reduces the upfront costs and makes their dream of owning a home much more achievable.

Are you in a similar situation?

If you’re wondering whether you’re eligible for the Australian Government 5% Deposit Scheme, book a free, no-obligation consultation with us. We’ll assess your financial situation and guide you through the process of buying your first home with as little as a 5% deposit.

Book Free Consultation

How the process works

01

We’ll assess your financial situation and confirm your eligibility for the 5% deposit scheme and other first-home buyer incentives. You’ll gain clarity on your options and the best path forward toward homeownership.

Step 1: Free Consultation & Eligibility Check

If you're eligible for the scheme and other incentives and choose to proceed, we’ll guide you through the entire loan process. From gathering the necessary documents to preparing your application, we’ll handle all the details to ensure a smooth experience.

Step 2: Proceed with the Loan Application

We’ll assist you in collecting all required documents and submitting your loan application. Once you receive pre-approval, you’ll know exactly how much you can borrow, ensuring that you meet the requirements to utilize your 5% deposit effectively.

Step 3: Gather Your Documents, apply for the Loan Application, and Get Pre-Approval

After you’ve found your dream home, we will work closely with your conveyancer/solicitor to manage the legal details and paperwork. From final loan approval to settlement day, we’ll ensure the entire process is smooth and stress-free, so you can focus on moving into your new home.

Step 4: Finalize & Settle

What Our Clients Are Saying

“Working with Liem and his team made buying our first home so much easier. They were always available to answer our questions and guided us through the entire process!”

H.P

“We didn’t know where to begin, but LNG Mortgage Solutions helped us from day one. Their expertise in first-home grants saved us thousands!”

H.M

“Thank you for all the support, Liem. I will be surely getting back in the future needs!”

L.M

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Ready to Buy Your First Home with Just 5% Deposit?

Book a Free Consultation today, and we’ll make sure you’re fully prepared for every step of the home-buying process.

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Contact Us

Liem Ngo - LNG Mortgage Solutions
Phone: 0415 455 009
Email: liem.ngo@lngmortgagesolutions.com
Website: www.lngmortgagesolutions.com.au

Focus on helping you become debt-free faster and offering ongoing support throughout your financial journey