A 5% deposit. A 2% deposit for single parents. Real pathways, explained properly.
The Broker Society helps eligible first home buyers, including single parents and the self employed, access the Australian Government 5% Deposit Scheme and the 2% Family Home Guarantee, with no LMI and no bank bias.
The Australian Government 5% Deposit Scheme
For eligible first home buyers, purchasing with a deposit as low as 5% and no LMI.
No income caps
Previous income limits were removed in October 2025. Your income no longer restricts access to the scheme.
No waitlist
Places were once capped and filled quickly. The scheme now has unlimited places, so eligible buyers can apply when ready.
No LMI
Housing Australia guarantees up to 15% of the property value, so you avoid Lenders Mortgage Insurance entirely.
Property price caps apply
Caps vary by location. We confirm the current cap for your target area as part of your first conversation.
Self employed and using the scheme
Being self employed does not rule you out of either scheme. It does mean a bit more preparation on the income side, since lenders participating in the scheme still need to assess your business income properly, whether that is through recent tax returns and financials via self employed home loans, or a low doc pathway where it genuinely fits. We regularly help self employed first home buyers and self employed single parents access these schemes, working through which participating lenders assess business income sensibly and structuring the application so your business structure does not become the obstacle. If you are self employed and think a 5% or 2% deposit path might be out of reach because of how your income looks on paper, it is worth a proper conversation before you assume that.
What to expect working with us
A proper first conversation
No forms up front. We talk through your situation, your deposit and your timeline before anything else happens.
Face to face or online, your choice
Meet in person at our Noosaville office or jump on a video call. Either way, we share our screen and walk you through the visuals and numbers on your loan and lender options together.
A team behind every conversation
The Broker Society is five brokers, not a solo operator. Whoever you speak with can bring in the right person for your specific situation.
Support all the way through
From your first eligibility check through to settlement, and beyond if your circumstances change.
Two deposit pathways, one guarantee behind them both
The Australian Government 5% Deposit Scheme, administered by Housing Australia, lets eligible first home buyers purchase with as little as a 5% deposit, and eligible single parents or legal guardians purchase with as little as a 2% deposit through the Family Home Guarantee. In both cases the government guarantees the gap between your deposit and the standard 20%, which means no Lenders Mortgage Insurance. Since October 2025, the scheme has no income caps and no waitlist, so most eligible buyers can access it as soon as they are ready. You cannot apply to Housing Australia directly. Applications go through a participating lender, which is exactly where we come in.
Minimum deposit, first home buyers
Minimum deposit, single parents and guardians
Lenders Mortgage Insurance under either scheme
The 2% Deposit Scheme for single parents: Family Home Guarantee
For eligible single parents and single legal guardians with at least one dependent child.
Minimum 2% deposit
A significantly lower entry point than the standard scheme, designed specifically for single parent households.
No income caps
Your income does not restrict access under the current single parent pathway.
Higher guarantee coverage
Housing Australia guarantees up to 18% of the property value under this pathway, reflecting the smaller deposit.
You do not need to be a first home buyer
Eligibility is based on being a single parent or guardian of a dependent child, not on never having owned property before.
How we help you access the scheme
Check your eligibility
We assess your circumstances against the current scheme rules, including the single parent pathway and self employed income where relevant.
Compare participating lenders
Not every lender on our panel takes part in the scheme, and not all participating lenders assess applications the same way. We compare the ones who do to find the best fit for your situation.
Manage the application
Paperwork, lender liaison and keeping you informed at every stage, so you are never left chasing anyone.
Layer in other support
Once you are settled, it is also worth thinking ahead to buying your next home or refinancing down the track. We check what else you may be entitled to, including First Home Owner Grants and stamp duty concessions specific to your state, alongside the scheme.
Ready to check your eligibility?
Whether you are a first home buyer chasing a 5% deposit, a single parent looking at the 2% pathway, or self employed and unsure where you stand, we will give you a straight answer.