As an approved lender for the Australian Government’s, First Home Loan Deposit Scheme we can help eligible first home buyers to purchase a home with a deposit of as little as 5%, and the added bonus of not having to save for Lenders' Mortgage Insurance (LMI). If you’re a first home buyer interested in applying for the FHLDS, please register your interest below or speak with our Home Lending Specialists to discuss the options available to you.

To be eligible, you need to check off the following criteria:

  • You're purchasing a home to live in yourself or with your spouse or de facto partner
  • You're aged over 18
  • You're a first home buyer. You have never owned a freehold interest in real property in Australia, an interest in a lease of land in Australia with a term of 50 years (or more), or a company title interest in land in Australia
  • You're an Australian citizen

  • You earned less than $125,000 in the previous tax year as an individual, or less than $200,000 as a couple

  • You have saved a 5% deposit plus standard fees and charges (e.g. stamp duty)

Depending on what home you wish to buy, there are a few other requirements

  • The property is a 'residential property'
  • Limits apply to the maximum property purchase price for each state and region the property is located in. For example, if you live in regional South Australia, the price cap is $350,000

  • You must be the sole registered owner/s of the property when it is the settlement date of your home loan
  • The property must be an established dwelling, a new-build dwelling that is purchased under a house and land package, land and a separate contract to build, or an off-the-plan apartment or townhouse
  • You can only receive the First Home Loan Deposit Scheme Guarantee once
  • There is a limited allocation of guarantees available under this scheme, which once taken up, the guarantee will not be available until a new allocation is released
  • Applications are subject to credit approval. Terms, conditions, fees, charges and lending criteria apply and are available upon application. Home loans are issued by People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd ABN 11 087 651 125 AFSL/Australian Credit Licence 244310. Contact us on 13 11 82 with any questions or visit your nearest branch to talk to a consultant.
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People’s Choice Credit Union is collecting the above information so that we may respond to your enquiry and provide information in relation to products and services we provide. We will only use this information, unless you are already a member or subsequently decide to obtain a service or product from us,  to respond to your enquiry and to contact you from time to time to provide you with information about services and products which may be of interest to you (including products and services of third parties). We may not be able to contact you if you do not provide to us this information. You can opt out of receiving direct marketing from us at any time. We disclose your personal information to relevant members of our staff. We may also disclose your personal information to agents, contractors, government agencies and bodies  who assist us in our dealings with you. Our Privacy Policy (which you can obtain at this link, in branch or by contacting us on 13 11 82 and asking for a copy) contains more information on how you can access and correct your personal information, how we use your personal information (including how to opt out of marketing), how to complain if you believe we’ve breached our privacy obligations, and how we deal with complaints. It also provides more detail on how we manage and protect your personal information if you are interested. People's Choice address is 50 Flinders St, Adelaide, 5000.

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