Help & support
The Australian Government 5% Deposit Scheme is for aspiring home buyers – first home buyers with a minimum 5% deposit, or single parents with a minimum of 2%.
The Australian Government 5% Deposit Scheme makes home ownership more achievable by helping you buy sooner with a smaller deposit, supported by a Government guarantee.
Depending on the eligibility criteria and your financial situation, you may be required to contribute more than a 5% deposit. It is also important to keep in mind additional costs associated with purchasing a home such as stamp duty and conveyancing fees are not covered by the scheme and may still apply.
To apply for the Australian Government 5% Deposit Scheme, speak to a CommBank Home Lending Specialist who will guide you through the application process.
To access the Scheme, you need to meet borrower eligibility criteria including:
Australian citizen or permanent resident, at least 18 years old.
Saved a minimum deposit of 5%.
A first home buyer or have not owned a property or land in Australia in the last 10 years.
Buying a home in Australia priced at or below the location’s price cap.
Planning to live in the home as an owner-occupier (no investment properties).
Applying for an owner-occupier home loan with Principal and Interest repayments from a Participating Lender, up to 30 years (plus up to 3 years to build a new home).
Applying on your own or jointly (max 2 applicants) with a partner, friend, or family member.
To access the Scheme, you need to meet borrower eligibility criteria including:
Australian citizen or permanent resident, at least 18 years old.
Saved a minimum deposit of 2%.
Single parent or single legal guardian of one or more dependent children.
Not have any other property interest once your new home settles.
Buying a home in Australia priced at or below the location’s price cap.
Planning to live in the home as an owner-occupier (no investment properties).
Applying for an owner-occupier home loan with Principal and Interest repayments from a Participating Lender, up to 30 years (plus up to 3 years to build a new home).
Applying on your own (no joint applications).
First Home Owners Grant
A one-off payment for eligible first home buyers who purchase or build a residential property to live in. Eligibility isn’t based on financial considerations such as your income.
Stamp duty concession
Stamp duty is a tax levied by state or territory on certain purchases, including buying a home, land, or investment property. Depending on your state or territory, you may be eligible for concessions as a first home buyer.
First Home Super Saver Scheme
Save money for your first home using your superannuation fund. Run by the Australian Taxation Office (ATO), the scheme helps first home buyers save faster by allowing them to withdraw voluntary super contributions they’ve made to their super.
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*Awarded 'Bank of the Year - First Home Buyers' for 2025 by Canstar in July 2025.
Applications are subject to credit approval. Full terms and conditions will be set out in our loan offer, if an offer is made. Fees and charges are payable.
