Buying your first home can be an exciting time, but saving for it can be a challenge. That’s why we provide members with a number of options that could help you get in to your first home sooner. Community First is proud to be a part of the latest Australian Government initiative which is great news for eligible first home buyers.

The First Home Loan Deposit Scheme

On 12/12/19, The National Housing Finance and Investment Corporation (NHFIC) announced that Community First has been appointed to the initial panel of residential mortgage lenders to offer guaranteed loans under the Australian Government’s new First Home Loan Deposit Scheme, which commences 1 January 2020.

What is the scheme?

The scheme is an Australian Government initiative to allow eligible home buyers access to a home loan with 5% deposit, to help them get in to their first home sooner. While Community First has been offering the ability to buy with just 5% deposit for quite some time, under the scheme, a guarantee is provided so lender’s mortgage insurance is not payable, which helps reduce the costs of the transaction for the buyer.

Am I eligible?

To see if you’re eligible, an online tool as well as further information is available at

How do I apply?

Applications for the scheme are not yet open. However, if you’d like to register your interest, simply complete the form below and we’ll contact you when applications are available to be taken. We expect that we will be able to start taking applications from 1 February 2020.

Register your interest now >

Where can I find more information?

Go to


Credit eligibility criteria, terms & conditions, fees & charges apply.

This information is general advice only and does not take into account your objectives, financial situation or needs (your "personal circumstances"). Before deciding whether to buy any product, you should consider your personal circumstances. You should read and consider the Terms and Conditions when deciding to use any product (terms and conditions, fees and charges may apply). Our product Conditions of Use are available at