1. Check Eligibility
Capx Finance can assist in checking if you meet the general requirements of the Government Scheme.

2. Find a Participating Bank or Lender
Davinder Singh, being a Senior Mortgage Broker and ex-home lending banker with major banks in Melbourne, has vast experience across both major and non-major banks.

We can guide you in identifying suitable participating lenders based on your individual circumstances and borrowing capacity.

3. Application and Pre-Approval
Your loan application is submitted to a participating lender who assesses it in line with both the lender’s and the scheme’s eligibility criteria.

4. Purchase Your Home
Once your application is pre-approved, you can proceed with buying an eligible property.
Please note: All loan applications and approvals are subject to both government scheme guidelines and the participating bank’s lending criteria.

At Capx Finance, we believe that every Australian deserves the chance to own their home.

With years of experience as a Mortgage Broker and strong relationships with both major and non-major banks, Davinder Singh provides expert guidance tailored to your needs, ensuring your application runs smoothly and helping you secure the loan tailored to your needs under under the 5% Deposit No LMI Scheme.

In your first home journey, Capx Finance is committed to helping you make confident, informed decisions about your home loan.

Frequently Asked Questions

Do I need to be a first home buyer?

Generally yes, but since October 2025 you may also qualify if you have not owned property in Australia in the past ten years, even if you owned a home before that.

Is there an income limit?

No. Income caps were removed from 1 October 2025, so what you earn no longer affects your eligibility for the scheme itself. Your income still affects how much a lender will lend you.

Are there limited places?

No. The annual cap on places was abolished in October 2025, so eligible applicants are no longer competing for a limited number of spots.

Does the government own part of my home?

No. The government provides a guarantee to your lender, which is what removes the LMI cost. You keep full ownership of the property and you are responsible for the full loan.

Can I use it with the Victorian stamp duty concession?

Generally yes. The scheme operates at the federal level, while stamp duty concessions, the First Home Owner Grant and the First Home Super Saver scheme are separate. They can often be used together, subject to each one’s own eligibility rules.

Can I buy an investment property with it?

No. The property must be one you live in. It cannot be a pure investment purchase.

Can I apply with a friend or sibling?

Yes. Joint applications are open to two or more eligible buyers, including friends and siblings, not only couples.

Which lenders offer it?

The scheme runs through participating lenders on the Housing Australia panel, which includes major banks, smaller banks and non-banks. Lender choice matters here, and we can help you work out which participating lenders suit your situation.

Scheme details are current at the time of writing and are subject to change. This information is general in nature and does not take into account your personal objectives, financial situation or needs. Full eligibility criteria are available at housingaustralia.gov.au.