Imagine unlocking the door to your very own home, sooner than you ever thought possible. With the Australian Government’s 5% Deposit Scheme, aspiring home buyers just like you can finally achieve that dream!
Whether you’re starting out or starting over, the 5% Deposit Scheme (previously known as Home Guarantee Scheme) means you can secure a fixed-price house and land package with a minimum 5% deposit with no Lenders Mortgage Insurance.
Key Features and Benefits.
- Low deposit options: Minimum 5% for first home buyers.
- No income caps: Support for all Australians, no matter your income.
- No Lenders Mortgage Insurance: Save on upfront fees.
- Government backing: A Government guarantee is provided to the lender for your loan.
- Unlimited spots and no waiting list: Apply when you’re ready.
How do I secure a spot in the scheme?
John Berghella, General Manager at MyChoice Home Loans says,
Securing a spot in the 5% Deposit Scheme is very similar to the pre-approval process with a lender, meaning you don’t need to have a land or build contract already. By applying, your space will be reserved for up to 90 days, and if this lapses, you can apply again.
- Check your eligibility here or read the information guide.
- Contact MyChoice Home Loans who’ll assess your eligibility, guide you through loan options and submit your application.
- Find your new home! Once approved you’ll have up to 90 days to sign a contract of sale.
- Buy your home and move in. Once a contract of sale is signed your lender will manage final approvals. Congratulations you’re a homeowner!
Am I eligible?
You need to meet the below criteria:
- You are a first-time buyer or have not owned a property in 10 years or more
- You intend to live in the home (principal place of residence)
- You are not purchasing as an investment property, or are purchasing on someone’s behalf
- You are an Australian citizen or permanent resident
Turnkey homes for first home buyers in the Hunter Valley.
With house and land packages currently available in Vineyard Grove, Cessnock and Lochinvar Downs, Lochinvar, secure the home of your dreams in the NSW Hunter Valley for under $800,000, the answer to getting your first home and into the property market.
Single-storey homes in Lochinvar.
Experience convenience at your doorstep in Lochinvar Downs, with nearby local schools, a thriving community, sporting facilities, shopping centres and more. Lot 701B features the Gembrook home design comprising of 3-bedrooms, 2.5-bathrooms and a large open plan kitchen, living and dining area.
Single-storey homes in Cessnock.
Set amongst a backdrop of scenic bushland and nearby vineyards, this idyllic estate is the perfect location with all the conveniences of modern living. Lot 808A and 808B both feature the Glenbrook home design boasting 3-bedrooms, 2-bathrooms and a spacious open plan living area.
Is it time to purchase your first home?
Ready to apply? Explore our packages ready for you to move into across NSW or chat to our exclusive team at MyChoice Home Loans. We cannot wait to help you achieve your home ownership dreams in 2026.