Are your home ownership dreams feeling out of reach?

As an approved lender of the Australian Government’s Home Guarantee Scheme, we are here to help
bring your dream of first home ownership to life.

Home Guarantee Scheme

As an approved lender of the Australian Government’s Home Guarantee Scheme, we are here to help bring your dream of first home ownership to life.

What is it?

Are your home ownership dreams feeling a little out of reach? The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible homebuyers purchase a home sooner with a very low minimum deposit. Plus, with no Lenders Mortgage Insurance (LMI), you could save thousands!  

The Scheme is administered by the National Housing Finance and Investment Corporation (NHIFIC) and include the following Guarantees:

  • First Home Guarantee (FHBG), previously known as the First Home Loan Deposit Scheme – for eligible first home buyers
  • Family Home Guarantee (FHG) – for eligible single parents with dependents

Check your eligibility

Two first time home owners, a young man in a white shirt and a woman in a blue plaid shirt, smile and hold the keys to their first home, standing in their kitchen with moving boxes behind them

First Home Guarantee

The First Home Guarantee is part of the Home Guarantee Scheme, supporting eligible first home buyers purchase a home sooner.

  • Minimum deposit: 5%, no LMI
  • Purchasing history: Must be first home buyers
  • Property type: Building or purchasing new or existing homes

Download the factsheet

A young boy piggybacks his mum as both of them smile at the camera.

Family Home Guarantee

The Family Home Guarantee supports single parents with dependents on the pathway to home ownership. This includes those who are not first home buyers.

  • Minimum deposit: 2%, no LMI
  • Purchasing history: Not required to be first home buyer but must not own property at the time of entering a loan under the Family Home Guarantee
  • Property type: Building or purchasing new or existing homes

Download the factsheet

FAQs

Am I eligible for the First Home Guarantee?

First Home Guarantee eligibility:

  • You intend to be an owner occupier of the property
  • You’re 18+ years of age, an Australian citizen and have a Medicare card number
  • Singles have earned no more than $125,000 taxable income in the last financial year
  • Couples are married or defacto and have combined earnings of no more than $200,000 taxable income in the last financial year
  • You're building or purchasing a home below the property price cap of the location you’re buying in

Am I eligible for the Family Home Guarantee?

Family Home Guarantee eligibility:

  • You intend to be an owner occupier of the property
  • You’re 18+ years of age, an Australian citizen and have a Medicare card number
  • Must be a single parent with at least one dependent child and have earned no more than $125,000 taxable income in the last financial year
  • You're building or purchasing a home below the property price cap of the location you’re buying in
  • Applicants can be either first home buyers or previous owners who do not currently own a home.

Which properties are eligible?

The maximum property price thresholds for the Family Home Guarantee are the same as those applying to the First Home Guarantee.*

State Capital city & regional centres* Rest of state
NSW* $900,000 $750,000
VIC $800,000 $650,000
QLD $700,000 $550,000
WA $600,000 $450,000
SA $600,000 $450,000
TAS $600,000 $450,000

 

Territory All areas
ACT* $750,000
NT $600,000
Jervis Bay Territory & Norfolk Island $550,000
Christmas Island & Cocos (Keeling) Islands $400,000

 

*Note that regional centres only include the areas identified as (1) in New South Wales, Illawarra and Newcastle and Lake Macquarie, (2) in Victoria, Geelong, and (3) in Queensland, Gold Coast and Sunshine Coast.

A postcode look-up tool is available at nhfic.gov.au for general information. You are able to use this tool to get an idea of whether a property is in a particular price cap area.

Is the New Home Guarantee (NHG) still available?

No Scheme place for a New Home Guarantee will be allocated by NHFIC after 30 June 2022.

A New Home Guarantee (NHG) place reserved on, or before 30 June 2022, will still be able to progress to settlement, subject to meeting eligibility criteria and NHG requirements and timelines.

I want to know more about the Home Guarantee Scheme

Download the Scheme information guides for more information:

First Home Guarantee Information Guide

Family Home Guarantee Information Guide

You can find more information about the HGS and eligibility criteria for each Guarantee on the National Housing Finance and Investment Corporation website.

 

A first time home owner applying for the First Home Loan Deposit Scheme using a laptop.

How to apply

1. Check if you’re eligible
Use the government’s simple online eligibility tool to find out if you can apply.

2. Talk to our home loan specialists
Buying your home can be overwhelming. We’ll help guide you through the process and help find the best home loan for your needs.

3. Find your first home
This is the fun bit – shopping. Remember, your home will need to meet certain eligibility criteria for the scheme.

Register your interest

Why choose us?

 

The smart choice for uni staff and graduates with discounts and extra benefits.

 

We’re customer owned. We put our members first.

 

Sustainability matters to us. We believe in the power of responsible investment.