5% Deposits for all first home buyers early on 1 October 2025.

The Albanese Government will guarantee a portion of a first home buyer’s home loan, so they can purchase with a lower deposit and not pay Lenders Mortgage Insurance.

Under the changes, all first home buyers will have access, with no caps on places or income limits. Property price caps will also be set higher in line with average house prices, providing access to a greater variety of homes.

For the average first home buyer, access to the scheme cuts years off the time it takes to save for a deposit and saves tens of thousands of dollars on Lenders Mortgage Insurance. In just the first year alone, first home buyers using the scheme are expected to avoid around $1.5 billion in potential mortgage insurance costs.

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