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Buy your first home with a deposit as little as 5%.

At Great Southern Bank, we’re proud to keep helping more first home buyers step onto the property ladder with our continued involvement in the Australian Government’s Home Guarantee Schemes, as follows:

  • New Home Guarantee (NHG) and
  • First Home Loan Deposit Scheme (FHLDS)

With the support of the Australian Government, the NHG and FHLDS provide eligible first home buyers the opportunity to purchase their first home with a deposit as little as 5% and without having to pay Lenders’ Mortgage Insurance (LMI).

New Home Guarantee places

For eligible first home buyers looking to build or purchase a newly constructed home, 10,000 Scheme places are available from 1 July 2021 to 30 June 2022 through the NHG Scheme.

If you would like to register your interest in the 2021-22 release of the NHG, please complete and submit the form below and a Great Southern Bank Home Loan Specialist will be in touch soon.

First Home Loan Deposit Scheme places

Due to a limited number of places on the 2021-22 First Home Loan Deposit Scheme, and an overwhelming response, we are no longer able to accept applications.

Register your interest
Simply complete and submit the form and a Home Loan Specialist will be in touch soon.
The process
1. Check your eligibility
Using the online tools
2. Register your interest
or chat to a Great Southern Bank Home Loan Specialist
3. Buy an eligible home
within 90 days of scheme approval
4. Move into your home
within six months of settlement (exceptions apply for new builds).
Great Southern Bank’s normal lending criteria will also apply.
Eligibility
There are a number of eligibility requirements you should be aware of. These include:
  • All applicants must be first home buyers, aged 18 years and over, be Australian citizens, and have a valid Medicare card
  • In the last financial year, individuals must have earned less than $125,000 and couples less than $200,000
  • You’ll need to have your 2020-21 tax returns completed and have received a notice of assessment from the ATO
  • Couples must be married or in a de-facto relationship
  • The property you are looking to purchase must be an acceptable property type and within the property price threshold for your suburb and postcode. You can view the property price cap for your suburb on NHFIC’s website

The government has created handy online tools to help you check your eligibility.

Check your eligibility for:


Individuals | Couples

Related Documents

NHFIC FHLD Scheme Information Guide
First Home Loan Deposit Scheme Fact Sheet
NHG Scheme Information Guide
New Home Guarantee Fact Sheet
Get in touch
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Sat: 8:00am - 4:00pm (AEST)

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What is Lender’s Mortgage Insurance and who needs to pay for it?

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Important Information

Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply. Applications are subject to credit approval. Ask us for details. More information about the First Home Loan Deposit Scheme and the NHFIC is available at www.nhfic.gov.au.

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Discuss my Great Southern Bank Home Loan
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What stage are you at?
I'm ready to apply for a home loan
I'm applying for pre-approval
I want to know if I qualify
I'm researching my options

Applying for pre-approval allows you to know the maximum amount you can borrow while you look for a property.

Pre-approval means that a lender has agreed to lend you an amount of money in-principle, but the loan hasn't been proceeded to full or final approval.

While pre-approval is not a fully approved loan it can help you narrow your search, negotiate, and make an offer with certainty and confidence.

How much would you like to borrow?
If you are unsure, please enter an approximate amount.
The minimum amount you can borrow is $100,000
When would you like to borrow?
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Now
Within 3 months
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Great Southern Bank was previously known as CUA.
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Do you have a home loan with Great Southern Bank?
Great Southern Bank was previously known as CUA.
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Would you like to tell us anything else?
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How would you like to connect?
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Speak to a Home Loan Specialist
First Home Loan Deposit Scheme
New Home Guarantee
Family Home Guarantee

The Australian Government has introduced three initiatives to support eligible Australians to build or purchase a new home sooner: the First Home Loan Deposit Scheme, New Home Guarantee and the Family Home Guarantee.

Thanks [Name], we'll speak to you soon
One of our Home Loan Specialists will call you on [0413 456 789] at your preferred time.
To help you get the most out of your call, we recommend having some details ready:
  • Identification details
  • Details of your income and expenses
  • Financial details, including what you own and what you owe
In the meantime, if you have any questions, we’d be happy to help.
Call us on 133 282
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Sat: 8:00am - 4:00pm (AEST)
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