For First Home Buyers and Single Parents
Benefits of the Australian Government's 5% Deposit Scheme
Low deposit options
No income caps
Save on upfront fees
Wide choice of home types
Government-backed support
Unlimited spots and no waiting lists
Purchase up to the price caps set by the Scheme for your location
The Scheme supports first home buyers and single parents
For first home buyers
Check your eligibility
To access the Scheme, you need to meet borrower eligibility criteria.
Need more information?
If you have any questions or would like to have a chat - we're here to help.
Single Parents
Check your eligibility
To access the Scheme, you need to meet borrower eligibility criteria
Need more information?
If you have any questions or would like to have a chat - we're here to help.
Tools and resources
Useful resources
Here you’ll find some handy tools and resources about the Australian GovernmentDeposit Scheme.
Check your eligibility
Identify your borrower eligibility for the Scheme (either as a First Home Buyer or a Single Parent).
Check property price caps
Determine the property Price Caps for the suburb you are purchasing in.
Fact Sheet
Read the Fact Sheet to find out more about the Australian Government 5% Deposit Scheme
Read the FAQs
Read some common FAQs about the Scheme
Home Buyer Declaration form
Get the Home Buyer Declaration form here.
First home buyer information guide
Read more information for First Home Buyers.
Single Parents Information Guide
Read more information for single parents.
First Home buyer booklet
A guide for those who are looking to buy their first home with BankVic.
First home buyer hub
Buying your first home sooner
How the Australian Government’s 5% Deposit Scheme and other government support can help
Read more
First home buyer hub
A page dedicated for first home buyers
Find out more
Borrowing power calculator
Find out how much you can afford as a new home loan
Visit here
Important Notice
All loans are subject to lending assessment and approval criteria. Terms, conditions fees and charges apply. Information on our website about the Australian Government 5% Deposit Scheme is general in nature. Whilst we have taken steps to ensure the information is accurate, we don’t guarantee it is complete and it should not be relied on as personal advice.
The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for our home loans are based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rates have been calculated on a loan amount of $150,000 over a term of 25 years.