1
Start with 5%
Eligible first home buyers may be able to purchase with a 5% deposit, helping reduce the amount needed upfront.
Smaller upfront deposit
First home buyers
A simpler way to buy your first home
See how a 5% deposit and expert support could help you buy sooner.
2
Understand the scheme
We help you understand the 5% Deposit Scheme, check the key eligibility requirements and compare suitable participating lenders.
Clear eligibility guidance
3
Buy with confidence
A Mortgage Matrix broker can compare options, prepare your application and guide you from pre-approval through to settlement.
Support to settlement
Mortgage Matrix home buyers
Compare your home loan options
Adjust a few details to see indicative lender options.
Loan settingsFirst home buyer · Owner occupied · 95% LVR
Loan amount
First home buyer?
Property use
Rate type
Repayment type
Loan to Value Ratio (LVR)95% · 80–95% LVR
40%60%70%80%95%
95% LVRmeans the loan is about 95% of the property's estimated value.
3 indicative first home buyer options$570,000 loan · 80–95% LVR · rates shown from 70–80% LVR tier · Variable
Swipe to compare options
WARNING: This comparison rate is 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 shown are based on a $150,000 secured loan over 25 years. Rates, repayments and options are indicative only and are not an approval, quote or personal recommendation. Eligibility, lender policy, servicing, valuation, LMI and final pricing must be confirmed by a Mortgage Matrix broker. For eligible owner-occupied first home buyers above 80% and up to 95% LVR, the displayed options use the standard 70–80% pricing tier for indicative comparison only. Scheme eligibility, lender participation and final pricing are not guaranteed. The lender and product are confirmed after you submit the purchase enquiry.
Calculate your borrowing power
Get a quick indication of how much you may be able to borrow before comparing suitable first home buyer loan options.
$
$
$/ month
$/ month
Enter gross income before tax. Other loan repayments can include personal loans, car loans and existing home-loan commitments.
$
$
$/ month
$/ month
Enter gross income before tax. Other loan repayments can include personal loans, car loans and existing home-loan commitments.
Estimated borrowing power
$551,061
Estimated repayment$3,247/ month · 30 year term
$4,371/ month
Estimated income available for a new home-loan repayment after living costs and declared commitments.
Borrowing capacity varies between lenders and depends on income treatment, living expenses, liabilities and your individual circumstances.
Indicative estimate only and not credit advice. HECS/HELP is not included in this estimate. A Mortgage Matrix broker will confirm your actual borrowing capacity with suitable lenders.
First home buyers5% could be enough
Government backing can help eligible buyers purchase sooner with a much smaller deposit.
Why it matters
Less time saving. More time moving.
For eligible first home buyers, the Scheme can reduce one of the biggest barriers to buying: the upfront deposit.
5%minimum deposit
$0LMI under the Scheme
Noneincome caps
Unlimited Scheme places and no waiting list.
Scheme eligibility, property price caps and home-loan approval requirements apply. A participating lender must confirm your eligibility and approve the home loan.
FIRST HOME BUYER CHECK
See your first-home options
2 min•No credit check•Free broker review
Step 1 of 617% complete
Takes around 2 minutes
What price range are you considering?
Choose the closest estimate. You can update the exact figure later.
Secure form • No credit check • Reviewed by a Mortgage Matrix broker
FIRST HOME BUYER CHECK
2 min•No credit check•Free broker review
Step 1 of 617% complete
Takes around 2 minutes
What price range are you considering?
Choose the closest estimate. You can update the exact figure later.
Secure form • No credit check • Reviewed by a Mortgage Matrix broker
Mortgage Matrix home buyers
Compare your home loan options
Adjust a few details to see indicative lender options.
Loan settingsFirst home buyer · Owner occupied · 95% LVR
Loan amount
First home buyer?
Property use
Rate type
Repayment type
Loan to Value Ratio (LVR)95% · 80–95% LVR
40%60%70%80%95%
95% LVRmeans the loan is about 95% of the property's estimated value.
3 indicative first home buyer options$570,000 loan · 80–95% LVR · rates shown from 70–80% LVR tier · Variable
Swipe to compare options
WARNING: This comparison rate is 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 shown are based on a $150,000 secured loan over 25 years. Rates, repayments and options are indicative only and are not an approval, quote or personal recommendation. Eligibility, lender policy, servicing, valuation, LMI and final pricing must be confirmed by a Mortgage Matrix broker. For eligible owner-occupied first home buyers above 80% and up to 95% LVR, the displayed options use the standard 70–80% pricing tier for indicative comparison only. Scheme eligibility, lender participation and final pricing are not guaranteed. The lender and product are confirmed after you submit the purchase enquiry.
First home buyers5% could be enough
Government backing can help eligible buyers purchase sooner with a much smaller deposit.
Why it matters
Less time saving. More time moving.
For eligible first home buyers, the Scheme can reduce one of the biggest barriers to buying: the upfront deposit.
5%minimum deposit
$0LMI under the Scheme
Noneincome caps
Unlimited Scheme places and no waiting list.
Scheme eligibility, property price caps and home-loan approval requirements apply. A participating lender must confirm your eligibility and approve the home loan.
Calculate your borrowing power
Get a quick indication of how much you may be able to borrow before comparing suitable first home buyer loan options.
$
$
$/ month
$/ month
Enter gross income before tax. Other loan repayments can include personal loans, car loans and existing home-loan commitments.
$
$
$/ month
$/ month
Enter gross income before tax. Other loan repayments can include personal loans, car loans and existing home-loan commitments.
Estimated borrowing power
$551,061
Estimated repayment$3,247/ month · 30 year term
$4,371/ month
Estimated income available for a new home-loan repayment after living costs and declared commitments.
Borrowing capacity varies between lenders and depends on income treatment, living expenses, liabilities and your individual circumstances.
Indicative estimate only and not credit advice. HECS/HELP is not included in this estimate. A Mortgage Matrix broker will confirm your actual borrowing capacity with suitable lenders.
Helpful home buying guides
Make your first move with confidence
Explore practical guides about deposits, government support, pre-approval and preparing to buy your first home.
Swipe to explore guides
Guide 1
Start here
5% deposit scheme
How the 5% Deposit Scheme can help you buy sooner
Learn how eligible first home buyers may purchase with a 5% deposit, avoid Lenders Mortgage Insurance and access participating lenders.
Read guide
Guide 2
First home buyers
The complete first home buyer guide
Understand borrowing power, deposits, upfront costs, government schemes and the main steps from pre-approval through to settlement.
Read guide
Broker guide
Pre-approval
How to get pre-approved before you start looking
See how pre-approval can clarify your budget, strengthen your position with agents and help you move quickly when you find the right home.
Read guideFirst home buyer FAQs
Questions about buying your first home?
Clear answers about the Australian Government 5% Deposit Scheme, eligibility and what happens when you start your home loan application with Mortgage Matrix.
Yes. The Australian Government 5% Deposit Scheme is available to Australian citizens and permanent residents who are at least 18 years old, provided the other Scheme requirements are also met. Temporary residents are not eligible under the Scheme. If you are buying with another person, both applicants need to meet the eligibility criteria.
Not necessarily. Eligible first home buyers may be able to purchase with a minimum 5% deposit through the Australian Government 5% Deposit Scheme. The Scheme can allow a participating lender to lend up to 95% of the home's value without Lenders Mortgage Insurance. You still need to meet the lender's lending criteria and have enough funds for applicable purchase costs.
Potentially. For the first home buyer stream, you can generally be eligible if you are buying your first home or you have not owned a property or land in Australia during the previous 10 years. Other Scheme requirements also apply, including buying within the relevant property price cap and intending to live in the property.
Yes. You can start your home-buying review online through this page. Once you submit your details, a Mortgage Matrix broker will review your position, check the relevant Scheme and lender requirements, compare suitable options and contact you about the next step.
The initial online review only takes a few minutes. Once we have the information and documents required, we can assess your position, compare suitable lenders and prepare the next stage of your application. Lender assessment times vary, but our team manages the process and follows up with the lender for you.
A Mortgage Matrix broker will review your borrowing position, deposit, purchase plans and any potential first home buyer Scheme eligibility. We will then explain suitable lender options, help you understand your likely buying range and guide you through pre-approval, purchase and settlement when you are ready.
Helpful home buying guides
Make your first move with confidence
Explore practical guides about deposits, government support, pre-approval and preparing to buy your first home.
Swipe to explore guides
Guide 1
Start here
5% deposit scheme
How the 5% Deposit Scheme can help you buy sooner
Learn how eligible first home buyers may purchase with a 5% deposit, avoid Lenders Mortgage Insurance and access participating lenders.
Read guideGuide 2
First home buyers
The complete first home buyer guide
Understand borrowing power, deposits, upfront costs, government schemes and the main steps from pre-approval through to settlement.
Read guideBroker guide
Pre-approval
How to get pre-approved before you start looking
See how pre-approval can clarify your budget, strengthen your position with agents and help you move quickly when you find the right home.
Read guideFirst home buyer FAQs
Questions about buying your first home?
Clear answers about the Australian Government 5% Deposit Scheme, eligibility and what happens when you start your home loan application with Mortgage Matrix.
The Australian Government 5% Deposit Scheme is available to Australian citizens and permanent residents who are at least 18 years old, provided the other Scheme requirements are also met. Temporary residents are not eligible under the Scheme. If you are buying with another person, both applicants need to meet the eligibility criteria.
Not necessarily. Eligible first home buyers may be able to purchase with a minimum 5% deposit through the Australian Government 5% Deposit Scheme. The Scheme can allow a participating lender to lend up to 95% of the home's value without Lenders Mortgage Insurance. You still need to meet the lender's lending criteria and have enough funds for applicable purchase costs.
Potentially. For the first home buyer stream, you can generally be eligible if you are buying your first home or you have not owned a property or land in Australia during the previous 10 years. Other Scheme requirements also apply, including buying within the relevant property price cap and intending to live in the property.
Yes. You can start your home-buying review online through this page. Once you submit your details, a Mortgage Matrix broker will review your position, check the relevant Scheme and lender requirements, compare suitable options and contact you about the next step.
The initial online review only takes a few minutes. Once we have the information and documents required, we can assess your position, compare suitable lenders and prepare the next stage of your application. Lender assessment times vary, but our team manages the process and follows up with the lender for you.
A Mortgage Matrix broker will review your borrowing position, deposit, purchase plans and any potential first home buyer Scheme eligibility. We will then explain suitable lender options, help you understand your likely buying range and guide you through pre-approval, purchase and settlement when you are ready.