Australian Government 5% Deposit Scheme

Making home ownership more achievable by helping you buy sooner with a small deposit, supported by a Government guarantee.

Bank of us is pleased to be a Participating Lender for the scheme.

Scheme features:

Low deposit options
No income caps
No Lenders Mortgage Insurance (LMI)
Wide choice of home types
Government-backed support: A Government guarantee is provided to the lender for your loan
Unlimited spots and no waiting lists
Purchase a property up to the property price caps set by the Scheme for your location

First Home Buyers

The Australian Government 5% Deposit Scheme helps you buy your first home with a minimum 5% deposit with a Government guarantee.

No income caps, no waitlists and no LMI means you have lower upfront costs and could own your first home sooner.

Fact Sheet Information Guide

Single Parents

The Australian Government 5% Deposit Scheme helps you into your new family home if you have saved a minimum 2% deposit with a Government guarantee.

No income caps, no waitlists and no LMI helps get you into your own home sooner.

Fact Sheet Information Guide

For more info & tools to help you apply

Find out more

Bank of us lending criteria, terms and conditions, including fees and charges apply. Full details are available on application.

Eligibility criteria apply. You can find more information about the Australian Government 5% Deposit Scheme on the Housing Australia website Home | Housing Australia

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Bank of us acknowledges and pays respect to the palawa - Tasmanian Aboriginal people - as the traditional owners of all the lands and waters. And we pay our respects to Elders past, present and emerging for they hold the knowledge, memories and culture of Aboriginal people in lutruwita/ Tasmania.