So, you’ve learned everything you need to know about the First Home Loan Deposit Scheme from my previous blog article, “First Home Loan Deposit Scheme: A Definitive Guide for Beginners”.

Now, you’re wondering if you’re eligible for it.

How do you qualify? How do you apply? What requirements are necessary?

In this article, I’ll be discussing everything you need to know about the eligibility and application process for the First Home Loan Deposit Scheme.

First Home Loan Deposit Scheme: Eligibility and Application

Your Application

All applications for the First Home Loan Deposit Scheme have to be made directly with one of the Scheme’s participating lenders. Note that the National Housing Finance and Investment Corporation (NHFIC) doesn’t accept applications directly from first home buyers.

Before making a reservation, consider whether you’re applying as a single or as part of a couple.

Note that once a Scheme place has been reserved for you – as a single or as a couple – it can only be changed by withdrawing and submitting a new application. Your ability to secure a Scheme place when doing so will hinge on whether a place is available at that time.

Your Eligibility Checks

To qualify for the First Home Loan Deposit Scheme, there are several eligibility criteria that you must meet.

How to Apply

All applications for the First Home Loan Deposit Scheme have to be made directly with one of the Scheme’s participating lenders. Note that the NHFIC doesn’t accept applications directly from first home buyers.

What You Need to Prepare

Initially, you’ll need to submit the following information to a participating bank or to your mortgage broker for the Scheme Place Reservation process.

The Bottom Line

If you need more information about the eligibility and application process for the First Home Loan Deposit Scheme, don’t hesitate to contact me for assistance.


Will Bell Mortgage Broker is a mortgage and finance broker based in Melbourne specializing in residential home loans.  Will is all about the average Australian understanding just enough of the broader economy to take action on your own personal economy.  He is the host of the My Personal Economy Podcast which you can check out here.

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