02/09/2026
A 20% deposit is still one of the biggest misconceptions we hear from first home buyers.
For eligible buyers, the Australian Government 5% Deposit Scheme may provide an opportunity to purchase with a considerably smaller deposit and without paying Lenders Mortgage Insurance.
That doesn’t mean everyone can—or should—buy with 5%. Your borrowing capacity, property budget and other purchasing costs still matter.
But before assuming you’re years away, it’s worth understanding what may be available to you.
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Government scheme and lending eligibility criteria apply.
