First Home Loan Deposit Scheme

MyState Bank is a proud Participating Lender for the Australian Government’s First Home Loan Deposit Scheme (FHLDS).

Scheme places are capped each financial year. Please note that Scheme places for this financial year are fully reserved.

Prior to applying, please read the Scheme Information Guide.

To register your interest, make an appointment now.

The Application Process

Make an appointment with a MyState Bank lender to start your application

Are you eligible?

If you can tick off all of these requirements, then you’re most likely eligible to receive the offer:

  • You are single or joint borrowers. If joint borrowers you are in a married or de facto relationship
  • You’re at least 18 years of age
  • You pass an income test
  • You have at least a 5% deposit saved
  • You and any other applicant are first home buyer’s
  • You are going to live in the property (not an investment)
  • You and any other applicant are Australian Citizens
  • The property you are looking to purchase falls within the Property Price Thresholds

Find out more about the eligibility requirements on the official NHFIC website and by downloading the FHLDS Fact Sheet along with the FHLDS Frequently Asked Questions Sheet.

For more detailed information, please view the Scheme Information Guide.


Income test

The Scheme includes an income test for:

  • Singles – your taxable income for the previous financial year must not be more than $125,000
  • Couples – your combined taxable income for the previous income year must not be more than $200,000

For applications received from 1 July each financial year, it is a requirement that you have your ATO Notice of Assessment from the previous financial year completed.


Property Price Thresholds

There is a maximum property purchase price under the Scheme which applies in capital cities, large regional centres and regional areas. You can find a list of the property price thresholds as well as a tool to search by postcode on the NHFIC website.

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