The Australian Government’s Home Buyer Scheme

The Australian Government Has Improved Accessibility For Aussies To Purchase Their First Home By Allowing For Deposits As Low As 2-5%

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Save up to $30,000 in Lenders Mortgage Insurance (LMI)*

First Home Loan Deposit Scheme: Buy your first home with 5% deposit.

Family Home Guarantee: Buy a home with 2% deposit for single parents with one or more dependants.

New Home Guarantee: Purchase a new home with a deposit of 5%.

Only 50,000 Spots (Total) Each Fiscal Year

How The Home Guarantee Scheme Works

The government works with select lenders to assist eligible home buyers without the standard 20% deposit. They offer a guarantee covering a portion of the loan value, enabling buyers to purchase a home without Lenders Mortgage Insurance. Eligibility criteria apply.

Check the table below to discover the savings on LMI for different loan amounts.

*Estimated savings only, $35,000 savings based on a loan amount of $850,000.

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The Three Different Types of Home Guarantee Scheme

The Home Guarantee Scheme (HGS) is an initiative by the Australian Government designed to assist qualified home buyers in expediting their home purchase. There are three distinct types of guarantees listed below. Maximum purchase prices are applicable for eligible properties purchased under the Home Guarantee Scheme (HGS). See the list of property caps here.

First Home Guarantee (FHBG)

Supporting eligible home buyers to buy a home sooner.

Minimum deposit: 5%

Places FY2023-24: 35,000

Regional First Home Buyer Guarantee (RFHBG)

Supporting eligible regional home buyers to buy a home sooner, in a regional area.

Minimum deposit: 5%

Places FY2023-24: 10,000

Family Home Guarantee (FHG)

Supporting eligible single parents of at least one dependent to buy a home sooner.

Minimum deposit: 2%

Places FY2023-24: 5,000

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How Do I Qualify?

You’ll need to meet at least the following criteria to be eligible for a guarantee under the Home Guarantee Scheme:

Individuals aged 18 or older who are either Australian citizens or permanent residents.

Applying for an owner occupier home loan with principal and interest repayments.

Earning a taxable income not exceeding $125,000 for single applicants or $200,000 for joint applicants, as per the prior financial year's Notice of Assessment.

To apply fro First Home Guarantee or Regional First Home Buyer Guarantee, the purchase must be your first home.

To apply for First Home Guarantee or Regional First Home Buyer Guarantee, your must be a first home buyers or previous homeowners who haven’t owned a property in Australia in the past 10 years.

To apply for the Family Benefit Scheme, you must be a single parents or single legal guardians who do not currently own a property.

You must have a minimum 5% deposit (First Home Guarantee or Regional First Home Buyer Guarantee), or minimum 2% deposit (Family Home Guarantee).

Home Guarantee Scheme

There Is Only 50,000 Spots (Total) Each Fiscal Year.

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We're Here To Support You Through The Entire Home Buying Journey.

Make an enquiry

Send us an enquiry or call us on 1300 103 998. Our team will call you within 30 minutes during business hours. Our service is free of charge.

Get a pre-approval

We’ll review your situation and help you understand what you can afford by obtaining a pre-approved home loan. This will also guarantee you a spot in the Government's Home buying Scheme.

House Hunt

Once your pre-approval is in place, you can go house hunting. If you find something you like, let us know, and we’ll provide you with property reports. to aid you in your decision-making process.