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  • About the Scheme

    The First Home Loan Deposit Scheme is an initiative of the Australian Government to help first home buyers purchase a home faster. It does this by providing a guarantee that will allow eligible first home buyers to purchase a home with :

    A deposit of as little as 5%
    without having to pay lenders mortgage insurance (LMI)

    Mortgageport™ is proud to be one of the first lenders in the Australian Government’s new First Home Loan Deposit Scheme initiative.

    How does it work?

    The Australian Government, through the National Housing and Finance Investment Corporation (NHFIC) will guarantee the difference between your deposit (of a least 5 percent) and 20 percent of the value of your home. This means first home buyers can enter the market sooner and be exempt from paying LMI, which will potentially save them thousands. Download NHFIC fact sheet

    The Application Process

    Check your eligibility

    Find out if you qualify for the Scheme using NHFICs online tools and calculators below.

    Secure your spot

    Enquire online and a Mortgageport team member will be in contact shortly to assist you with your application and help you secure a slot.

    Find a property

    Purchase a property that meets the conditions of your Scheme Approval within 90 days.

    Move in

    You must move into your new home within 6 months of your loan settling.

    Am I eligible?

    To qualify for the Scheme, you’ll be subject to the following eligibility criteria. You need to be able to provide documentation to verify your eligibility to secure your position.

    Eligibility criteria includes

    All applicants must be First Home buyers looking to buy a property they will live in.

    All applicants must be Australian citizens who are at least 18 years of age.

    Individual applicants must have earned less than $125,000 and couples less than $200,000 in the last financial year. Couples must be married or de-facto.

    There are property price caps which vary depending on the location in which you buy. You can work out the property price cap based on your situation using NHFIC’s online tool https://www.nhfic.gov.au/what-we-do/support-to-buy-a-home/first-home-loan-deposit-scheme/

    NHFIC’s Scheme Eligibility tool

    To make things easier, the Government and NHFIC have created an online tool to help you understand whether you are eligible for the scheme.

    Property price tool

    The government has also developed a tool to help first home buyers find out the property price cap for the suburb in which they are looking to purchase a property.

    Ready to Get Started?

    Enquire online now to register your interest

    Enquire Now

    Who is Mortgageport ?

    Mortgageport was established in 1998 and has a proud history in providing home loans. We operate as a Non-Bank Lender and Mortgage Manager to provide our customers with access to a wider range of mortgage solutions, Mortgageport treats our customers as individuals and understands that everybody is different


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