The First Time Buyer Loan in Australia refers to various mortgage products and government programs designed to assist first-time home buyers. Key initiatives include the First Home Loan Deposit Scheme (FHLDS), allowing eligible buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI), and the First Home Owner Grant (FHOG), which offers a one-off payment to help cover the costs of purchasing or building a new home.