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Buy Your Own Home
With Just 5% Deposit
Speak with our experts to secure your place!
Benefits of the First Home Guarantee Scheme
Own Your
Home Sooner
Only 5% of genuine savings required for your deposit
No Need
to Pay LMI
This could save you between $10-20,000...
Stamp Duty Concession
Depending on where you live you could save $10-25,000...
Lower
Interest Rates
You'll be assessed at 80% LVR which can provide lower rates
What is the First Home Guarantee Scheme?
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.
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Under the FHBG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to buy a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
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For the FHBG, any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan.
Who is Eligible?
Apply as an individual or 2 joint applicants
Must be a property to live in
First home buyers or previous homeowners who haven't owned a property in Australia in the past ten years.
Must be over 18 years of age
An Australian citizen(s) or permanent resident(s)* at the time they enter the loan
Earn up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment
What is the expected availability?
35, 000 places available for 2023-24 Financial Year
Assessed and allocated each year
Released to States & Territories on a per capita basis
Contact us to learn how many places are available
Are there price caps
on purchase price?
Source: Housing Australia
