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First Home Loan Deposit Scheme

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First home loan deposit scheme

Register your interest

One of the biggest challenges for those looking to enter the property market for the first time is building up a deposit. Gateway is proud to partner with the Australian Government on the First Home Loan Deposit Scheme (FHLDS) to help more first home buyers reach their dream of home ownership sooner.

Whether you are looking for a no-frills low interest rate, or the full package with money-smart features, we've got you covered with a Gateway home loan.

Unfortunately all FHLDS places with Gateway Bank have been reserved for this financial year. FHLDS places can become available from time to time as some applicants who have reserved a Scheme place will withdraw their application. Please register your interest with Gateway Bank and we will contact you if a place becomes available and we can also take you through our range of solutions for first home buyers.

Popular home loans

Low Rate Essentials Home Loan

  • Redraw facility available.
  • Unlimited extra repayments.
  • Borrow between $50k and $2m.

2.60% pa1
Variable Rate (up to 80%LVR)

2.63% pa
Comparison Rate

Premium Package Home Loan

  • 100% offset account available.
  • Unlimited extra repayments.
  • $150k minimum loan amount.

2.64% pa1
Variable Rate (up to 80% LVR)

2.98% pa
Comparison Rate

What is the Scheme?

The FHLDS is an Australian Government initiative that supports eligible first home buyers to purchase a home with a deposit of as little as 5%. The National Housing Finance and Investment Corporation (NHFIC) will then provide a guarantee to the lender covering up to 15% of the property’s value.

The NHFIC has appointed Gateway Bank to offer loans to be guaranteed under the Scheme, which will support up to 10,000 loans each financial year. Apply now for your Scheme place with Gateway Bank.


FHLDS Fact Sheet






Who is eligible?

Find out if you meet the Scheme’s eligibility criteria. Please note that this tool is provided as a guide only and does not guarantee that you will receive either a Scheme place or a loan from Gateway Bank.

Eligibility Checklist:

  • Do you have your Notice of Assessment, issued by the ATO, for the previous income year (FY20)?

  • Was your taxable income no more than $125,000 as a single, or no more than $200,000 as a couple (spouse or de facto) for the previous financial year?

  • Will you be an Australian citizen at your home loan date?

  • Will you be 18 years or over at your home loan date?

  • Do you satisfy the prior property ownership test? (i.e. have you never directly or indirectly owned real estate). 

  • Is the loan for an established property located within Australia?

  • Do you have a deposit of between 5% and 20% of the purchase price of the property you would like to purchase?

  • Do you intend to reside in the property you purchase as an owner-occupier while your home loan is guaranteed under the Scheme?

  • Is the property purchase price within the threshold for your property’s suburb and postcode? You can check this using the NHFIC’s property price threshold tool.

How to apply

  1. Check your eligibility.
  2. Then register your interest for a Scheme place with Gateway and we will verify your eligibility.
  3. Then apply for your home loan with Gateway.
  4. You're all done! A Gateway consultant will be in touch soon.

* Please note that we are not able to provide Construction Loans under the First Home Loan Deposit Scheme.

As a first home buyer you may also qualify for additional assistance

First Home Owners Grant

More information >


First Home Super Saver Scheme

More information >


Stamp Duty Concessions

More information >


HomeBuilder Grant

More information >


Girl with laptop 

We'll be with you throughout your home buying journey


There’s a lot to think about when buying a home, so we’re here to keep it simple. 

If you would like more information, call us on 1300 302 474 (8am  6pm, Monday to Friday AEDT). 

Arrange a call back


First home buyers guide

Things you should know:

Please note that the number of available Scheme places are limited each financial year and applying with Gateway Bank does not guarantee a successful application.

Rates advertised apply to principal and interest repayment types only. Gateway reserves the right to vary these interest rates at any time. Comparison rates are calculated based on a loan amount of $150,000 over a 25 year term. WARNING: 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. Applications for finance are subject our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
1 Variable rate special offers are available for a limited time only and may be varied or withdrawn at any time. The offer is available for new loans and top ups of $50,000 or more.