Supporting first home buyers looking to build or purchase a new home.
About FHLDS (New Homes)
In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).
Under the FHLDS (New Homes), first home buyers can build or purchase a new home, including:
- newly-constructed dwellings
- off-the-plan dwellings
- house and land package
- land and a separate contract to build a new home
There are particular requirements and timeframes which apply for each type of property.
If you are unable to meet the timeframes or requirements for eligible properties under the FHLDS (New Homes), you may be able to apply to build or purchase a new home under the existing First Home Loan Deposit Scheme.
Am I eligible?
- You need to be an Australian citizen, at least 18 years old, with a Medicare card, and a first home buyer looking to buy a property that you will live in.
- You need to be able to demonstrate your ability to save over time, with a minimum 5% deposit saved for the property you wish to buy.
- You must meet the income eligibility requirements, which are single buyers earning up to $125,000, or a couple earning up to $200,000 per year.
- There are property price thresholds that will apply in capital cities, large regional centres and regional areas. Use NHFIC's property price threshold tool to work out the maximum property purchase price in the area you're interested in under the Scheme.
The application process
Key information about FHLDS (New Homes)
Handy tips for first home buyers
Terms and conditions, fees, charges, eligibility and lending criteria apply. Full details available on application. All information is correct as at 12 November 2020 and is subject to change without notice.