The Australian Government 5% Deposit Scheme is for aspiring home buyers just like you – first home buyers with a minimum 5% deposit, or single parents or legal guardians with a minimum 2% deposit. The Scheme is administered by Housing Australia.
The Australian Government 5% Deposit Scheme includes the following:
More information is available via the Australian Government 5% Deposit Scheme website.
Once you understand your budget and how much you can borrow, you can apply for pre-approval. Pre-approval shows your borrowing power and could help you secure a property. It is valid for 90 days and provides you with conditional loan approval for a home loan subject to specific conditions, giving you the confidence when searching, enquiring, and making offers on properties. It is important to note that a pre-approval is subject to valuation of the chosen property that must be acceptable to the bank and other conditions may apply.~
When you apply for your pre-approval our lenders take into account:
Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.
Interest rates current as at 1 March 2026 and are subject to change without notice.
Subject to lenders mortgage insurance approval.
Fact Sheets are available here.
Target Market Determination is available here.
* WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate displayed is calculated based on a secured loan amount of $150,000 over a 25 year term.
~The pre-approval service provides you with a preliminary, conditional loan approval. It is subject to QBANK’s credit eligibility criteria and lending terms and conditions. QBANK and our mortgage insurer must both pre-approve the proposed loan amount, term and conditions. The pre-approval is valid for 3 months from the date it is granted. Final approval of the loan is subject to QBANK receiving a valuation of the secured property. Additional settlement conditions may apply.
^ After the expiry of the fixed rate period, the interest rate changes to QBANK’s Classic Variable Home Loan Product Rate (currently 7.59%p.a. for Owner Occupier | 7.61%p.a. Comparison Rate and 7.94%p.a. for Investor | 8.02%p.a. Comparison Rate).
