5% Deposit Scheme(No LMI)
Own your first home with just 5% deposit. No income caps. No waiting lists. Higher price caps from 1 October 2025. We'll map your eligibility, price caps, and lender options—then structure your loan so you avoid Lenders Mortgage Insurance (LMI) and buy sooner.
What You'll Get
5% Deposit Scheme benefits
5% Deposit Only
2% for single parents
No LMI Required
Government guarantee
Higher Price Caps
From 1 Oct 2025
NSW Price Caps (From 1 Oct 2025)
First-Home Specialist
Expert guidance through the scheme
5% Deposit Scheme (No LMI) Solutions
The Australian Government's 5% Deposit Scheme helps first-home buyers purchase with a 5% deposit (or 2% if you're a single parent/legal guardian) while avoiding LMI. The Government gives your lender a guarantee so the lender can approve a higher LVR loan without charging LMI. From 1 October 2025, there are no income caps, no place limits, and higher property price caps nationwide. Perfect for first home buyers - explore our comprehensive First Home Loans service for complete guidance.
NSW Price Caps
Higher property price caps from 1 October 2025 - both the purchase price and lender-assessed value must be at or below the cap
Sydney / NSW Capital & Regional Centres
Includes Illawarra, Newcastle, Lake Macquarie
Other NSW Areas
All other NSW locations
Property Price Caps from 1 October 2025
| Location | Current Property Price Cap | Property Price Cap effective 1 October 2025 |
|---|---|---|
| NSW - capital city and regional centre | $900,000 | $1,500,000 |
| NSW - other | $750,000 | $800,000 |
| VIC - capital city and regional centre | $800,000 | $950,000 |
| VIC - other | $650,000 | $650,000 |
| QLD - capital city and regional centre | $700,000 | $1,000,000 |
| QLD - other | $550,000 | $700,000 |
| WA - capital city | $600,000 | $850,000 |
| WA - other | $450,000 | $600,000 |
| SA - capital city | $600,000 | $900,000 |
| SA - other | $450,000 | $500,000 |
| TAS - capital city | $600,000 | $700,000 |
| TAS - other | $450,000 | $550,000 |
| ACT | $750,000 | $1,000,000 |
| NT | $600,000 | $600,000 |
| Jervis Bay Territory and Norfolk Island | $550,000 | $550,000 |
| Christmas Island and Cocos (Keeling) Islands | $400,000 | $400,000 |
Regional centres: NSW (Illawarra, Newcastle, Lake Macquarie), VIC (Geelong), QLD (Gold Coast, Sunshine Coast)
Note: These changes are not effective until 1 October 2025. The Home Guarantee Scheme is currently available with existing eligibility criteria and price caps.
Our 5% Deposit Scheme Process
We simplify the entire process and guide you through every step to make your first home purchase smooth and stress-free
2-Minute Eligibility Check
We confirm your postcode cap, deposit path (5%/2%) and any stackable NSW benefits (e.g., FHB stamp duty relief; grant for new builds).
Lender Strategy
We select Participating Lenders that best fit your credit profile and property type.
Pre-Approval
We package your loan to leverage the Government guarantee and avoid LMI.
Contract to Settlement
We coordinate the lender submission and conditions so you can buy and move in smoothly.
Ready to Buy Your First Home with 5% Deposit?
Take advantage of the 5% Deposit Scheme and make your first home purchase a reality with minimal deposit and no LMI
Book Free First-Home PlanWhat We Offer
Comprehensive 5% deposit scheme (no lmi) solutions tailored to your needs with expert guidance and competitive rates
5% deposit for first home buyers
Professional guidance and support throughout your loan journey.
2% deposit for single parents/legal guardians
Professional guidance and support throughout your loan journey.
No Lenders Mortgage Insurance (LMI)
Professional guidance and support throughout your loan journey.
No income caps from 1 October 2025
Professional guidance and support throughout your loan journey.
No waiting lists or place limits
Professional guidance and support throughout your loan journey.
Higher property price caps nationwide
Professional guidance and support throughout your loan journey.
Access to 50+ participating lenders
Professional guidance and support throughout your loan journey.
Established, new, off-the-plan properties
Professional guidance and support throughout your loan journey.
House and land packages included
Professional guidance and support throughout your loan journey.
Vacant land with building contract
Professional guidance and support throughout your loan journey.
Why Choose the 5% Deposit Scheme?
Experience the difference with our expert guidance and comprehensive support designed to help you achieve your financial goals
Buy Sooner
5% (or 2%) minimum deposit instead of 20%, allowing you to enter the property market faster.
Save Thousands
No LMI payable under the scheme, saving you thousands of dollars in insurance costs.
No Income Caps
No income caps & no waiting list from 1 Oct 2025, making the scheme accessible to more buyers.
Bigger Target Range
Higher property price caps nationwide, giving you access to more properties in your budget.
Ready to Experience These Benefits?
Join thousands of satisfied customers who have improved their financial situation with our expert guidance
Book Free ConsultationStep-by-Step Timeline
Simple, transparent steps to get your 5% deposit scheme (no lmi) approved with expert guidance every step of the way
Chat (10–15 min)
Goals, deposit, suburbs discussion to understand your needs and preferences.
Eligibility & Caps
Confirm scheme fit and your exact price cap based on your location.
Pre-approval
Via a Participating Lender under the 5% Deposit Scheme.
Find a Property
Use cap tables/postcode tools; sign contract within lender timeframes.
Settle & Move In
Meet occupancy obligations to keep the guarantee in place.
Frequently Asked Questions
Common questions about 5% deposit scheme (no lmi) answered by our expert team
Do I pay LMI?
No. The Government guarantee enables lenders to approve with 5% (or 2%) deposit without LMI.
Can I buy an established home?
Yes—established or new, off-the-plan, house & land, or build on vacant land (with a contract), subject to price caps.
Can friends or siblings apply together?
Yes—joint applications (two people) are allowed for first-home buyers. We'll confirm lender rules.
How long do I have if I'm building?
Scheme terms support up to three years to build (plus the standard loan term up to 30 years).
Do I apply directly to Housing Australia?
No. You apply via Participating Lenders approved to offer the scheme.
Which cap applies to me?
Use the price cap tables (or postcode tool) and confirm with your lender. From 1 Oct 2025, the higher caps apply.
What are the NSW price caps from 1 October 2025?
Sydney/NSW capital & regional centres: $1,500,000. Other NSW: $800,000. Both purchase price and lender-assessed value must be at or below the cap.
What documents do I need to prepare?
Proof of ID & residency/citizenship, deposit/savings statements (5% or 2%), income & employment docs, existing debts/expenses, contract/build details (if applicable), and any lender forms.
Still Have Questions?
Our expert team is here to help answer any questions you may have about 5% deposit scheme (no lmi)
Sumit Joshi
Senior Loan Advisor & Director
“We can't thank Sumit enough for helping us secure our first home - especially in such a tough and competitive market. He truly went above and beyond at every step of the process. From answering all our questions with patience to finding the best possible deal, his dedication and expertise made all the difference. We always felt supported and informed, and his commitment gave us confidence during a very stressful time. Thanks to him, we're now proud homeowners. Highly recommend to anyone looking for a mortgage broker who genuinely cares.”
- Vandhana Naidu
What Our Customers Say
Based on 331+ verified Google Reviews. Here's what our satisfied customers have to say about their experience with RyRo Loan Centre.
Vandhana Naidu
"We can't thank Sumit enough for helping us secure our first home - especially in such a tough and competitive market. He truly went above and beyond a..."
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"I can't recommend Sumit enough! As a first-time home buyer, I was nervous about the whole process, but he made everything so easy and straightforward...."
“We can't thank Sumit enough for helping us secure our first home - especially in such a tough and competitive market. He truly went above and beyond at every step of the process. From answering all our questions with patience to finding the best possible deal, his dedication and expertise made all the difference. We always felt supported and informed, and his commitment gave us confidence during a very stressful time. Thanks to him, we're now proud homeowners. Highly recommend to anyone looking for a mortgage broker who genuinely cares.”
Vandhana Naidu
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