We compare your rates with 50+ lenders
How a 5 percent deposit home loan works
Under the First Home Guarantee, the government guarantees the gap between your 5% deposit and the 20% lenders normally require. Your lender treats the loan as if you put down 20%, which means no LMI. That saving alone is often worth $15,000 to $30,000.
Your repayments are based on 95% of the property value. The guarantee sits in the background between the government and the lender. Single parents can access even lower entry through the Family Home Guarantee with just a 2% deposit.
According to Housing Australia, from October 2025 the scheme removed income caps and place limits permanently. See our full First Home Guarantee breakdown for eligibility details.
Do you qualify for the guarantee?
Since October 2025, the expanded scheme is open to more buyers than ever. Here are the key eligibility criteria. A 15-minute call with a Stryve broker can confirm where you stand.
Australian citizen or permanent resident
You must be an Australian citizen or permanent resident aged 18 or over at the time of purchase.
Never owned property in Australia
You cannot have previously owned residential property in Australia, including investment property.
Owner-occupier only
The property must be your primary residence. You need to move in within 12 months and live there while you hold the guarantee.
No income caps since Oct 2025
Income limits have been removed entirely. Your income only matters for loan serviceability, not scheme eligibility.
No annual place limits
The quota system is gone. You can apply any time of year without racing against a cap that runs out early.
Within your state's price cap
Property price caps vary by state and area. Sydney is $1.5M, Melbourne $950K, Brisbane $1M. See Housing Australia for the full list.
What lenders look at
Having 5 percent saved is the starting point, not the finish line. Lenders assess several areas before approval, and each weighs them differently.
You don’t need to meet every criterion perfectly. A broker’s job is matching your profile to the lender whose policy suits it best.
5 percent is the practical minimum under the guarantee. That’s $35,000 on a $700K property instead of $140,000.
02
Clean credit history
Lenders check for defaults, late payments, and existing debts. Minor issues narrow your options while serious defaults close doors. Checking your credit file before applying gives you time to address anything.
03
Serviceability at buffer rates
Lenders test whether you can afford repayments at roughly 3% above the current rate. That buffer can reduce borrowing capacity significantly, which is why pre-approval matters before you start searching.
04
Employment and income
PAYG borrowers need recent payslips and tax documents. Self-employed borrowers face more scrutiny, with most lenders wanting 2 years of returns, though some accept 1 year.
05
Eligible property type
The property must be residential and owner-occupied. Houses, townhouses, apartments, and house-and-land packages qualify. Investment properties do not.
Not sure where you stand?
A 15-minute call clarifies your deposit position, borrowing capacity, and which lenders fit. No obligation, no pressure.
See if you qualifyNot all lenders participate, and rates vary
Rates vary between lenders
Two participating lenders can charge rates 0.5% apart on the same guarantee. On a large loan, that gap costs thousands per year.
Approval criteria differ widely
A lender might decline a self-employed borrower that another would approve. Apartment and income policies also vary by participant.
Your income assessment changes
How a lender calculates your borrowing capacity depends on their own policy. The same income can qualify for different amounts at different lenders.
Stryve matches you to the right fit
Instead of applying to one lender and hoping, Stryve compares participants to find the strongest match for your situation.
Commission transparency
Stryve publishes what we earn from every lender. You can see exactly how we’re paid before choosing who to apply with.
Alternative pathways exist
Other options include the Help to Buy scheme with 2% deposit and lender products that accept deposits below 10%.
What our customers
say about us
Don't just take our word for it. See what hundreds of satisfied clients across Sydney say about their experience with Stryve Finance.
“Nate and Dylan were extremely helpful in helping us secure our new home. They were easy to contact from day one, and answered any questions we had. We felt reassured at all times and are very grateful for their patience with us. I have recommended Stryve to 3 friends now who have all been successful in achieving their goals of purchasing their homes. We are so happy with the service and will definitely keep on recommending Stryve to our family and friends.”
Whitney Tran
Homeowner
“I never had a problem with Dylan. From the start of our journey on mortgage til the very end and even with refinancing, he/they were very helpful, transparent, honest and really keen to help their clients! Highly recommended.”
Cristianne Del Valle
Homeowner
“On behalf of my husband and I, we would like to truly thank Dylan Bertovic for all his assistance in helping us with our new loan - approved in time before our settlement. Dylan worked above and beyond expected. He took the time to explain every step and process with us. Any questions we had, Dylan would go out of his way to ensure they were answered. He made the process stress free and ensured we got the best possible deal. We highly recommend Dylan to all our family and friends.”
Merna Yalda
Homeowner
“Nate is great to work with, very knowledgeable, responsive and genuinely invested in helping me find the right solution. Highly recommend this firm to anyone looking for reliable, competitive and professional brokerage services.”
Julia
Homeowner
“Dylan has not only been a longtime friend, but also the trusted mortgage broker of choice for my family. He answers the phone at all hours, communicates extensively through all steps of a sometimes-complicated process and manages my risk. He has a straight to the point approach which I appreciate. Simply gets the job done, and gets it done very quickly. Thanks for everything Dylan, you're a champion broker and a good mate.”
Christian Barać
Homeowner
“Nate and Dylan were the ultimate professionals in securing a home loan to help us purchase our first home! Following the purchase of our home, they have continued to provide their exceptional service and have been able to secure two rate reductions in six months! Being self-employed wasn't an issue for me as Nate knew the process back-to-front and was able to provide sound advice throughout the application process.”
Justin Tomas
Homeowner
“It was an absolute brilliant experience with Stryve. Our first purchase was with Dylan he was always clear re: the next steps, quick to respond, never tired of questions and went over and above with communication. We went back and used him again for our next investment and the experience was just as wonderful as the first. Stryve also reviews our loans every 6 months to make sure we are getting the best rates on offer. We couldn't ask for more!”
Amber Motii
Homeowner
Frequently asked questions
Can you buy with a 5 percent deposit?
A personalised assessment matched to your income, deposit, and property goals. No obligation, no pressure. You’ll speak with a broker who specialises in first home buyer applications.
See if you qualify