AU Australia property term
5% Deposit Scheme (formerly First Home Guarantee)
Australia-wide
Plain-English definition
An Australian Government scheme that guarantees part of an eligible home loan so a buyer can purchase with a deposit as low as 5% without lenders mortgage insurance.
Why this matters to a foreign buyer
It is not a cash grant and is only available to Australian citizens and permanent residents who meet the scheme and lender rules. Temporary visa holders and ordinary foreign buyers are not eligible.
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