Buying my first home

Current FHLDS allocation exhausted. New Home Guarantee (NHG) spaces are still available. We expect the next round of FHLDS to be announced around July 2022. 

Whether you’re buying or building your first home, the experience can be a daunting, as it’s probably one of the biggest purchases you’ll ever make.

To support you in your first home buyer journey, there are several types of support from the Australian Government that you may be eligible for.  To help minimise your research time we have summarised the opportunities below that could help you with your first home experience. 

Toggle Item

First Home Loan Deposit Scheme (FHLDS) and New Home Guarantee (NHG)

The First Home Loan Deposit Scheme and New Home Guarantee have been designed to support eligible first home buyers. These Schemes provide a guarantee to Participating Lenders that allow you to purchase your first home sooner, with a deposit of as little as 5%, without having to pay Lenders Mortgage Insurance. This is because the National Housing Finance and Investment Corporation (NHFIC) guarantees the difference between the borrower’s deposit of at least 5% and 20% of the value of the eligible property.

From 1 July 2021, the (FHLDS) reset for the financial year (2021-22) with 10,000 new places becoming available under the Scheme. Additionally, on 8 May 2021 the Australian Government also announced an extension to the New Home Guarantee (formerly FHLDS - New Homes), seeing 10,000 extra places become available from 1 July 2021 to 30 June 2022.

We’ve been approved as a FHLDS and New Home Guarantee Participating Lender by the National Housing Finance and Investment Corporation (NHFIC) to offer you these options.


Toggle Item

Check your eligibility

Note: You can only apply for the FHLDS or New Home Guarantee, but not both.

An owner occupied home loan paid on a principal and interest basis must be entered into. Investment properties are not supported

18+ Australian Citizen and not have previously owned or had an interest in a residential property

Must be able to provide 2020-21 Notice of Assessment issued by the ATO to reserve a place in the Scheme

Singles with a taxable income of up to $125,000 p.a and couples* with a combined taxable income of up to $200,000 p.a for the previous financial year

Applicants must have a deposit of at least  5% of the value of an eligible property saved.  If 20% or more

Your maximum property purchase price will be restricted by the suburb and postcode**


* Couples are only eligible for the scheme if they are married or in a de facto relationship. Other persons buying together, including siblings, parent/child or friends, are not eligible

** To find out the property price threshold of a suburb you a looking to buy in you can try the NHFIC tool here.

For detailed eligibility criteria review the FHLDS and New Home Guarantee fact sheets or use the handy comparison table to determine which option may be eligible for.

FHLDS and New Home Guarantee information guides are also available.

There are no costs or repayments associated with the Scheme guarantee. However, first home buyers are responsible for meeting all costs and repayments for the home loan associated with the guarantee.



Properties you could buy with the New Home Guarantee




How to apply?

Your application can be lodged through us or one of our approved brokers. To get started, register your interest by completing the form below and one of our Home Loan Specialists will be in touch with you. 


Jordan and Carlie's story

First home buyers (and our lovely Members), Jordan and Carlie help us with some insight into what it's like to buy their first home with the help of the First Home Loan Deposit Scheme. 


If you are a first home buyer and also a single parent, the Family Home Guarantee could also be an option for you.

Queensland Country Bank is not currently a Participating Lender of the Family Home Guarantee. A list of participating Family Home Guarantee lenders can be found on the NHFIC website.  We will advise when we are available to take applications via our website once approved.


Family Home Guarantee (FHG)

Saving to purchase a family home can be a challenging task, especially when you are a single parent.

The Family Home Guarantee is designed to support eligible single parents by providing a guarantee to Participating Lenders which allows you to buy a family home with a deposit of as little as 2%. This Guarantee enables single parents with at least one dependent child to enter or re-enter the housing market sooner.  Normally, to avoid paying Lenders Mortgage Insurance, anyone purchasing a property will need to save a 20% deposit (based on the property value). Taking advantage of the Family Home Guarantee will allow you to bypass Lenders Mortgage Insurance without having to stress about providing an extra 18% in your deposit.  Investment properties are not covered by the Family Home Guarantee.  

Find out more

As a first home buyer you may also be eligible for other government support programs like the First Home Super Saver Scheme, state and territory First Home Owner Grants, and stamp duty concessions.