A federal government scheme that lets eligible first home buyers purchase with as little as a 5% deposit and pay no Lenders Mortgage Insurance. The government guarantees the portion of your deposit that falls short of 20%, so the lender doesn't need LMI to cover its risk.
You're not borrowing the difference and you're not giving up any share of your home. The guarantee simply sits behind your loan, and it falls away as you build equity.
The scheme was expanded significantly, and a lot of the advice still circulating hasn't caught up:
Income caps removed — your salary no longer restricts access
Places unlimited — the old annual quota is gone, so there's no rush to beat a cut-off
Price caps lifted — $800,000 for the Dubbo region and most of regional NSW
If you were told a year or two ago that you earned too much or that places had run out, that advice is out of date. Worth checking again.
Australian citizen or permanent resident, 18 or over
You generally must not have owned property in Australia before
At least 5% genuine deposit
Purchase price at or under $800,000 in the Dubbo region
You must live in the home, not rent it out
The loan must be with a participating lender
On a $600,000 purchase, a 5% deposit is $30,000 instead of $120,000. You also avoid an LMI premium that on that loan size can run well into five figures.
For most people it isn't about saving the premium — it's about buying four years earlier than they otherwise could.
The deposit isn't the whole story:
Conveyancing or solicitor's fees — $1,500 to $2,500
Building and pest inspection — around $400 to $800
Stamp duty — often nil for eligible first home buyers, but confirm at your price point
Transfer and mortgage registration fees
Rates adjustments and home insurance
On that $600,000 purchase, allow $3,000 to $5,000 on top of your $30,000.
Not every lender participates, and those that do apply their own credit policy on top of the scheme rules — so qualifying for the guarantee doesn't automatically mean qualifying for the loan. We check both, match you to a participating lender that suits your situation, and manage the application.
Book a free appointment at a time convenient to you — face to face in our Church Street office in Dubbo, over the phone, or by video call. No obligation, and no cost to you. Call 02 6885 0588 or book online.
shantelle jamhour
The team at Dubbo Mortgage Brokers went above and beyond to help me secure the right loan. They were friendly, responsive, and made what could have been a stressful process feel simple and straightforward. Nothing was too much trouble, and they kept me informed every step of the way. I couldn't be happier with the service I received and would definitely recommend them to family and friends.
Blayne Mcghee
A huge thank you to Adam and team, they've been our go to Brokerage team since 2020 and they always exceed expectations. Our most recent loan was pretty complex, but Adam and the team worked tirelessly to ensure we got our desired outcome. They're on top of every detail and any additional requirements were sorted quickly with no hassle to us. We highly recommend Adam and team!
Katie Hicks
The team at Dubbo Mortgage Brokers were very timely and efficient with all the work they did. They always replied to our communications promptly and pulled off an amazing refinance and purchase. We are now very happily living in our new home thanks to the team at Dubbo Mortgage Brokers. Highly recommend!
Robert B
I had an outstanding experience with the team at Dubbo Mortgage Brokers. A huge thank you to Adam, Brad, and Caitlin for all of their hard work and support throughout the entire process. They were professional, knowledgeable, and genuinely committed to helping me secure the best possible deal. They all worked together seamlessly, making the process smooth and stress-free. No matter how many questions I had, they were always available to provide clear advice, keep me informed, and make sure I understood every step along the way. I highly recommend Dubbo Mortgage Brokers to anyone looking for a reliable and professional mortgage broker. Their communication, dedication, and customer service were exceptional, and I couldn’t be happier with the outcome. I’ll definitely be using them again in the future. Thanks again, Adam, Brad, Caitlin, and the whole team!
Marivic Cabrera
Thank you so much to Adam and Brad for supporting us every step of the way in purchasing our home. Their quick responses and superb communication made the whole process smooth, easy and stress-free. We truly couldn’t have done it without them. Mavic & Mickael
Michael Skupien
Can't speak highly enough of Adam and the team at Dubbo Mortgage Brokers. They kept us in the loop the whole time and were always reachable if we had questions.
Dubbo Mortgage Brokers ABN: 24 828 996 302. Credit Representative 453008 of My Local Broker Pty Ltd is authorised under Australian Credit Licence 481374
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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