What's the FHB Guarantee in plain English?

Government scheme: 5% deposit, no LMI for eligible FHBs. Limited places per year.

Am I eligible as a Bangladeshi PR holder?

Yes — PR/citizen, FHB, income/property caps. Currently $900K Sydney cap.

Wait — Lakemba houses are over $900K. How does that work?

Most Lakemba houses exceed cap. Lakemba units fit, or guarantor loan for a house.

Is FHB Guarantee compatible with halal home loans?

Limited — depends on Islamic provider participation. We confirm.

How fast do FHB Guarantee places run out?

Often reserved within months of 1 July financial year start. Apply early.

5% Deposit Home Loans Lakemba: First Home Guarantee + Bengali Support

Who this guide is for

Lakemba area first home buyers wanting to know if a 5% deposit is realistic — particularly Bangladeshi families saving carefully and watching property prices rise.

FHBs with $50K-$70K saved looking at $1.0M-$1.4M Lakemba house
Eligible PR/citizen Bangladeshi couples ready to buy
Buyers who have heard about FHB Guarantee but don't know the rules
Muslim families wanting to know if halal 5% options exist

The local picture

Lakemba houses now sit between $1.0M and $1.4M. Saving 20% deposit ($200K-$280K) takes years. Many Bangladeshi families want to know if there's a faster pathway.

The good news: yes, the First Home Guarantee scheme allows eligible buyers to buy with 5% deposit and no LMI. The catch: eligibility rules are specific.

How Mortgagefy helps locally

Mortgagefy confirms First Home Guarantee eligibility for your situation, identifies which lenders participate in the scheme for Lakemba purchases, and submits your application.

Bengali support throughout. Free advice.

How it works — 4 simple steps

Free FHB Guarantee chat

20-minute call (Bengali) to confirm scheme eligibility for your situation.

Compare participating lenders

We identify FHB Guarantee panel lenders that work for Lakemba.

Application + scheme paperwork

We compile your documents and FHB Guarantee declaration.

Settle in Lakemba

You move into your $1.1M Lakemba house with $55K deposit.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.

Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.

Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.

If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.

Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.

ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

Find out if you can buy in Lakemba with 5% deposit

Free 20-minute call with Bengali support to confirm eligibility.

Start Your Free Assessment Call 0432 634 648

Get your personalised answer in 2 minutes

Free, no obligation. We'll match you with the right lender for your situation.

Related Lakemba Resources

Mortgage Broker Lakemba Halal Home Loans Lakemba Self-Employed Loans Bangladeshi Buyers

Use our calculators: Model repayments and borrowing power with our free home loan calculators.

Can I Buy a House in Lakemba With Just 5% Deposit?