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​First Home Loan Deposit Scheme (FHLDS) Eligibility

The purpose of the First Home Loan Deposit Scheme (FHLDS) is to help low income Australian families own their first home. As such, there are strict eligibility criteria.

According to the Australian Government, to be eligible, you must be:

  • Australian citizens who are least 18 years old.

  • Taxable annual income of no more than $125,000 (singles) or no more than $200,000 (couples)

  • Couples who are either married or in a de-facto relationship. So, siblings, a parent and child or two friends buying together would not eligible.

  • Able to contribute at least at least 5% deposit, and no more than 20% of the property’s value.

  • Eligible for Principle and Interest (P&I) Loans. i.e., no interest-only loans.

  • Using the Property as your principal place of residence (PPR).

  • First home buyers who have not previously owned or had an interest in a residential property, either on their own or jointly with someone else, including body corporate and company-owned properties, regardless of whether it was an investment or owner-occupied property and whether it was ever lived in.


There is only a maximum of up to 10,000 applicants each year. So, you have to be quick.



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