At G&C Mutual Bank, we understand that saving for your first home can be difficult. We have a proud history of providing flexible and competitively-priced products for first home buyers. We’re proud to have been chosen to offer loans under the Australian Government's First Home Loan Deposit Scheme, to help even more first home buyers realise their dream of home ownership.

Overview of the Scheme


The Australian Government has introduced the First Home Loan Deposit Scheme to support first home buyers purchase a home sooner. The National Housing Finance and Investment Corporation (NHFIC) provides a guarantee that will allow eligible first home buyers to purchase a home with a deposit of as little as 5%, without needing to pay for Lenders Mortgage Insurance (LMI) or rely on a guarantor.

You can check your potential eligibility on the NHFIC website. There's different eligibility criteria depending on whether you are applying as a single or a couple.

If you're ineligible for the Scheme, we'll work with you to explore other options to help you get into your first home.

The maximum property price varies depending on your location. Use NHFIC's online tool to check the property price threshold for the suburb in which you are looking to purchase. 

Applications for the First Home Loan Deposit Scheme through G&C Mutual Bank are now open.  

We'll help you navigate the process, and submit a request to reserve a place in the Scheme on your behalf. Places are limited.

We're ready to help you via our online home loan application, online enquiry form, 1300 364 400 or through a Mobile Lender or Service Centre.

First Home Owner Grant: The First Home Owner Grant is a government scheme providing a one-off payment for eligible first home buyers who purchase or build a residential property to live in.

Stamp duty concessions: Stamp duty is a tax levied by state or territory governments 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.

The First Home Super Saver Scheme: The First Home Super Saver Scheme allows you to save money for your first home using your superannuation fund. This scheme, run by the Australian Taxation Office (ATO), helps first home buyers save faster by allowing them to withdraw voluntary super contributions they’ve made to their super.