First Home Guarantee Scheme and First Homeowner Government Grants

First Home Guarantee Scheme (FHGS) and First Homeowner Government Grants

We are here to help you assess your maximum borrowing power to find the best combination of the lowest interest rate and the loan structure, including the First Home Guarantee Scheme (FHGS) and First Homeowner Government Grants.

We have helped many Australian first-home buyers across Australia. Our team is very experienced and has deep financial knowledge. Our research-based team has the latest policy updates and information to help you get low-deposit home loans and maximum benefits from Government Grants and Schemes.

First Home Guarantee Scheme (FHGS)

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.

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.

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. Eligibility criteria apply.

 

First Home Guarantee Scheme (FHGS) and First Homeowner Government Grants

Grant/Scheme Details Value

First Home Guarantee Scheme, Regional First Home Guarantee Scheme and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 50,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $900,000 for Sydney and regional centres.
  • Property value must not exceed $750,000 for the rest of the state.

Insurance savings depend on the value of your property.

First Home Super Saver Scheme
  • You can deposit a maximum of $27,500 per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.

Lower cash deposit required to buy.

First Home Owner Grant
  • New homes or substantially renovated homes ≤$600,000
  • New builds: combined home + land value $≤750,000

$10,000

First Home Buyer Assistance Scheme
  • New homes Stamp duty exemption ≤$650,000.

    Stamp duty reduction $650,000 – $800,000.

  • Established homesStamp duty exemption ≤$650,000.

    Stamp duty reduction $650,000 – $800,000.

  • Vacant landStamp duty exemption ≤$350,000.

    Stamp duty reduction $350,000 – $450,000.

Tax savings depend on the value of your property.
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$10,000

+ tax and insurance savings.
Grant/Scheme Details Value

First Home Guarantee and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $750,000.

Insurance savings depend on the value of your property.

First Home Super Saver Scheme
  • You can deposit a maximum of $27,500 per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.

Lower cash deposit required to buy.

Home Buyer Concession Scheme
  • All property types at any price.
  • A concession cap is implemented for the amount of tax that will be waived.
  • You must have a household income up to $170,000 with no dependents.
  • Eligible incomes increase relative to the number of dependent children under your care up to a maximum of $186,650
 Capped at $34,790.
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$34,790

+  other tax and insurance savings depending on the value of your property.
Grant/Scheme Details Value

First Home Guarantee and Family Home Guarantee Scheme

  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $800,000 for Melbourne and regional centres.
  • Property value must not exceed $650,000 for the rest of the state.

Insurance savings depend on the value of your property.

First Home Super Saver Scheme

  • You can deposit a maximum of $27,500 of per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.

Lower cash deposit required to buy.

First Home Owner Grant

  • New apartments, houses and townhouses ≤$750,000.
 $10,000

Homebuyer Fund

  • State contributes funds in exchange for a share or proportional interest in the property.
  • Eligible homebuyers can receive up to 25% of the home’s value.
  • You can buy with a 5% deposit.
  • Aboriginal and Torres Strait Islander Victorians can receive up to 35% of the home’s value.
  • Aboriginal and Torres Strait Islander Victorians can buy with a 3.5% deposit.
  • Property value must not exceed $950,000 in Melbourne and Geelong.
  • Property value must not exceed $600,000 in eligible regional areas.
  • Ongoing obligations apply.

Insurance savings depend on property value and other factors.

Stamp duty savings

  • New and established homes
    Stamp duty exemption ≤$600,000.
    Stamp duty reduction $600,000 – $750,000.

Tax savings depend on the value of your property.

Further concessions and exemptions are available depending on other factors.
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$10,000

+ tax and insurance savings.
Grant/Scheme Details Value

First Home Guarantee and Family Home Guarantee Scheme

  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $600,000 for Adelaide and regional centres.
  • Property value must not exceed $450,000 for the rest of the state.

Insurance savings depend on the value of your property.

First Home Super Saver Scheme

  • You can deposit a maximum of $27,500 per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.

Lower cash deposit required to buy.

First Home Owner Grant

  • New homes off the plan, new builds or substantially renovated homes ≤$575,000.
 $15,000

HomeStart

  • SA government backed lender only.
  • You can avoid additional loan charges.
  • Starter Loan of up to $10,000, five-year term with no repayments or interest(it is a secondary loan type).
  • Eligible if your household income is ≤$65,000 (singles) or ≤$90,000(couples).
  • You will need to cover the deposit.

$10,000

(Must be paid back at completion of term).
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$25,000

+ insurance savings.
Grant/Scheme Details Value

First Home Guarantee and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $600,000 for Hobart and regional centres.
  • Property value must not exceed $450,000 for the rest of the state.

Insurance savings depend on the value of your property.

First Home Super Saver Scheme
  •  You can withdraw up to $15,000 per financial year, up to a total of $50,000 across multiple years for payment towards your home loan.

Lower cash deposit required to buy.

First Home Owner Grant
  • New homes off the plan & new builds up to any value.

$10,000

Stamp duty savings
  • Established homes

    50% discount when you buy a home valued <$600,000.

Tax savings depend on the value of your property.
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$10,000

+ tax and insurance savings.
Grant/Scheme Details Value
First Home Guarantee and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $700,000 for Brisbane and regional centres.
  • Property value must not exceed $550,000 for the rest of the state.
 Insurance savings depend on the value of your property.
First Home Super Saver Scheme
  •  You can withdraw up to $15,000 per financial year, up to a total of $50,000 across multiple years for payment towards your home loan.
 Lower cash deposit required to buy.
First Home Owner Grant
  • New homes off the plan, new builds or substantially renovated homes ≤$750,000. Note the grant amount is $15,000 for contracts signed before 20.11.2025.
 $30,000
Queensland housing finance loan
  • A low deposit loan for those who can afford to buy or build a home but aren’t able to get private finance from a lender.
  • You must have a household income ≤$141,000.
  • Covers established and new builds.
  • You can buy a house with a 2% deposit or the difference between the max loan you can get and the purchase price.
  • No LMI needed.
 Insurance savings depend on property value.
Stamp duty savings
  • Vacant landStamp duty exemption ≤$350,000.
    Stamp duty reduction $360,000 – $500,000
  • New and existing homesStamp duty exemption ≤$650,000.
    Stamp duty reduction $650,000 – $730,000.
 Tax savings depend on the value of your property.
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$30,000

+ tax and insurance savings.
Grant/Scheme Details Value
First Home Guarantee and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $ 600,000.
 Insurance savings depend on the value of your property.
First Home Super Saver Scheme
  • You can deposit a maximum of $27,500 per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.
 Lower cash deposit required to buy.
First Home Owner Grant
  • New homes off the plan & new builds up to any value.
 $10,000
Maximum total support available ($) Scheme eligibility may be subject to income caps, property value & other criteria.

$10,000

+ insurance savings.
Grant/Scheme Details Value
First Home Guarantee and Family Home Guarantee Scheme
  • Eligible buyers can purchase with a 5% deposit (lenders criteria apply).
  • Eligible single parents can buy a house with a 2% deposit.
  • No lenders mortgage insurance (LMI) needed.
  • Up to 40,000 guaranteed loans per financial year (both schemes combined).
  • Property value must not exceed $600,000 for Perth and regional centres.
  • Property value must not exceed $450,000 for the rest of the state.
 Insurance savings depend on the value of your property.
First Home Super Saver Scheme
  • You can deposit a maximum of $27,500 per financial year.
  • You can withdraw up to $50,000 toward your first deposit from your super.
  • From then on, you can withdraw up to $15,000 per financial year for payment towards your home loan.
 Lower cash deposit required to buy.

Home Buyers Assistance

Reimburse some costs associated with the purchase of your first home including mortgage registration fees, solicitor and/or conveyancing fees, valuation fees, inspection fees, mortgage insurance premiums and lender fees.
  • Property value ≤ $400,000
 ≤ $2,000
Keystart
  • A low deposit loan for those who don’t meet the requirements of mainstream lenders.
  • Can buy a house with a deposit between 2% and 10% (subject to property location).
  • No LMI needed.
  • Must meet income limits (subject to property location).
  • Property value ≤$750,000$ (subject to property location)
  • Shared equity schemes available.
 Insurance savings depend on property value.
First Home Owner Grant
  • For new homes only.
  • South of 26th parallel: land and building value≤$750,000.
  • North of 26th parallel: land and building value ≤$1,000,000.
 $10,000
Stamp Duty Exemptions
  • Vacant land purchase to the value of ≤ $300,000 = pay no stamp duty, $300,000-$400,000 = reduced stamp duty.
  • House purchase to the value of ≤ $430,000 = pay no stamp duty, $430,000 – $530,000 = reduced stamp duty.
 Tax savings depend on the value of your property.
Total grants/discounts available ($) Scheme eligibility may be subject to income caps, property value other criteria.

≤ $12,000

+ tax and insurance savings.
VOXFIN
Home Buyer

Eligibility Criteria

To apply for the FHBG, home buyers must be:

    • Applying as an individual or two joint applicants
    • An Australian citizen(s) or permanent resident(s)* at the time they enter the loan
    • At least 18 years of age
    • Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
    • Intending to be owner-occupiers of the purchased property
    • First home buyers or previous homeowners who haven’t owned or had an interest in a real property in Australia (this includes owning land only) in the past ten years.
    Access the Eligibility Tool – a short questionnaire to help home buyers determine which Guarantee/s they may be eligible for.
    Contact a Participating Lender for more information, including the full list of eligibility criteria.
    Contact Us

    Deposit Required

    Home buyers applying for the FHBG need to have between 5% and 20% of the value of an eligible property saved as a deposit. The minimum deposit required for the FHBG is 5%, but Participating Lenders may require a higher percentage deposit based on individual financial circumstances.*

    Home buyers should speak with a Participating Lender to find out whether a deposit is made up of genuine savings for the purposes of their lending criteria and the FHBG.

    Home buyers should confirm with their Participating Lender whether any cash grants received under other Australian Government, State or Territory schemes or programs can be considered as part of their genuine savings.

    Contact a Participating Lender for more information and to discuss individual circumstances. 

    Home Loans

    *Eligible home buyers are responsible for meeting all costs and repayments for home loans associated with the Home Guarantee Scheme including but not limited to stamp duty, application fee and legal costs.

     

    Property Loans

    Property types and price caps

    Under the HGS, home buyers can buy a residential property, including:

    • An existing house, townhouse or apartment
    • A house and land package
    • Land and a separate contract to build a home
    • An off-the-plan apartment or townhouse.

    Use the Property Price Cap Tool  to look up the property price caps for each location.

    Specific timeframes and criteria apply to different property types. The contract of sale and (if applicable) eligible building contract may need to be executed by specific dates.

    Contact a Participating Lender for more information, including the full list of property criteria

    Contact Us

    How to Apply

    Contact a Participating Lender for more information, including the full list of property criteriaHGS applications can only be made with a Participating Lender or their authorised representative (a mortgage broker). Housing Australia does not accept HGS applications or provide personal financial advice.

    Home buyers (and those advising them) should consider consulting a Participating Lender and seeking independent financial and legal advice about whether a particular home loan or property, and the terms of the HGS suit personal circumstances and objectives.

    Before entering into a home loan agreement, home buyers should consider talking with their lender (or broker) about the potential implications of changing interest rates or house prices on individual circumstances. Notice of Assessment (NOA)

    Participating Lenders

    Housing Australia has authorised a panel of Participating Lenders to offer the HGS to home buyers.

    Notice of Assessment (NOA)

    The HGS includes an income test, which is assessed by lenders using a Notice of Assessment (NOA).
    Once a tax return has been processed, the Australian Taxation Office (ATO) sends a statement called the Notice of Assessment to the taxpayer’s myGov Inbox.

    First Homeowner Government Grants

    For HGS reservations made from 1 July 2023 to 30 June 2025, the relevant Notice of Assessment is the 2022-2023 financial year. Housing Australia advises applicants to speak to their Participating Lender to understand the risk of signing a Contract of Sale prior to obtaining the latest Notice of Assessment.

    In any other circumstances where you cannot produce a Notice of Assessment (for example, you have been working overseas), please contact your Participating Lender for advice on other documentation it may accept as evidence of your income.

    First Home Buyer

    As a First Home buyer, you are choosing VOXFIN for:

    • Savings on stamp duty
    • Simplified home loan process
    • Maximise your borrowing power
    • Lowest interest rates in Australia
    • Give you a complete understanding of the costs involved
    • Personalised loan structure to meet your needs and lifestyle
    • The best mortgage & home loan broker in Australia will guide you
    • Get your preapproval guaranteed so you can buy with confidence
    • Access to First Home Guarantee Scheme (FHGS) and Government Grants
    Contact Us

    Frequently Asked Questions (FAQS)

    Questions and queries related to FIRST HOME GUARANTEE SCHEME (FHGS) AND FIRST HOMEOWNER GOVERNMENT GRANTS

    CAN I PURCHASE A PROPERTY FROM MY PARENTS?

    Non-arm’s length transactions are allowed under the HGS, however the property must have a purchase price and a value under the property price cap for its location.

    FIRST HOME BUYER GUIDE OF EACH STATE IN AUSTRALIA

    Check out each state link below for more details:  

    VICTORIA
    https://www.vic.gov.au/first-home-buyer-guide

    NEW SOUSOUTH WALES (NSW)
    https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer

    First Home Buyers Assistance scheme
    https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme

    Queensland 
    First homeowner grant
    https://qro.qld.gov.au/property-concessions-grants/first-home-grant/

    WESTERN AUSTRALIA (WA)
    First homeowner grant (FHOG)
    https://www.wa.gov.au/organisation/department-of-finance/fhog

    SOUTH AUSTRALIA (SA)
    First Homeowner Grant
    https://www.revenuesa.sa.gov.au/first-home-owners-grant 

    TASMANIA
    First Homeowner
    https://www.sro.tas.gov.au/first-home-owner 

    AUSTRALIAN CAPITAL TERRITORY (ACT, CANBERRA)
    First Homeowner Grant
    https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme/first-home-owner-grant 

    NORTHERN TERRITORY (NT)
    First homeowner grant
    https://nt.gov.au/property/home-owner-assistance/first-home-owners/first-home-owner-grant

    WHAT GUARANTEES ARE AVAILABLE UNDER THE HOME GUARANTEE SCHEME?

    The Home Guarantee Scheme (HGS) has three Guarantees:

    • First Home Guarantee (FHBG) supports eligible home buyers in buying a home sooner, with a deposit of as little as 5%.
    • Regional First Home Buyer Guarantee (RFHBG) supports eligible regional home buyers in buying a home sooner in a regional area, with a deposit of as little as 5%.
    • Family Home Guarantee (FHG) supports eligible single parents and eligible single legal guardians of at least one dependent to buy a home, with a deposit of as little as 2%.

    Note – the New Home Guarantee (NHG) is no longer available. An 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.

    WHAT IS THE 'GUARANTEE' PROVIDED BY HOUSING AUSTRALIA?

    Housing Australia provides a Guarantee to a Participating Lender in respect of an eligible loan provided by that Participating Lender to an eligible home buyer under the First Home Guarantee (FHBG), eligible regional home buyer under the Regional First Home Buyer Guarantee (RFHBG), or eligible single parent or eligible single legal guardian under the Family Home Guarantee (FHG).

    The guaranteed amount is the difference between the eligible borrower’s deposit (of at least 5% for FHBG or RFHBG and at least 2% for FHG) and 20% of the value of the eligible property. This enables an eligible home buyer to buy a home without paying Lenders Mortgage Insurance.

    DO I HAVE TO PAY BACK HOUSING AUSTRALIA?

    No. While there are no costs or repayments associated with the Guarantee issued by Housing Australia, you are responsible for meeting all costs for and payments on the home loan that is the subject of the Guarantee. 

    You also need to observe the requirements of the Guarantee for as long as you are covered by the Guarantee. 

    DO ALL PARTICIPATING LENDERS APPLY THE SAME ELIGIBILITY CRITERIA FOR THE GUARANTEES?

    Yes. However, Participating Lenders may apply their own additional criteria for loans offered under the Guarantees, such as restrictions on certain properties in the suburbs, purchasing property with an existing tenancy, Australian permanent resident visa classes, or a higher percentage deposit based on your circumstances.

    In addition, not all Participating Lenders will offer the same home loan products. For example, some Participating Lenders may allow you to buy land before entering into a contract with a builder, while others may require you to enter into a building contract before you settle on your land. Check with your Participating Lender to see what additional criteria you may need to satisfy. 

    IS STAMP DUTY WAIVED UNDER THE SCHEME?

    Housing Australia does not administer stamp duty and cannot grant any waivers for it. Contact your relevant state or territory authority for more information on stamp duty.

    I THINK I AM ELIGIBLE FOR MORE THAN ONE GUARANTEE - WHICH ONE DO I CHOOSE?

    Home buyers must meet certain eligibility criteria for the Scheme, which differ slightly for each of the Guarantees. To help you identify which Guarantee/s you may be eligible for, access the Eligibility Tool. You can also contact your Participating Lender for more information and to discuss your personal circumstances. 

    CAN I APPLY FOR A LOAN WITH SOMEONE ELSE?

    For the First Home Guarantee (FHBG) or Regional First Home Buyer Guarantee (RFHBG), you can apply as an individual or with another person as part of a joint application. The person you’re applying with may be (but is not limited to) a spouse, de facto partner, friend, sibling or other family member.

    The Family Home Guarantee (FHG) is only open to eligible single parents and eligible single legal guardians of at least one dependent, and you can only apply as a single applicant.

    ARE AUSTRALIAN PERMANENT RESIDENTS ELIGIBLE?

    The Guarantees are only open to current Australian citizens and permanent residents. If you are applying as a joint applicant, you will need to be either an Australian citizen or permanent resident. 

    THE PERSON I’M BORROWING WITH IS A TEMPORARY RESIDENT, AND I’M AN AUSTRALIAN CITIZEN. ARE WE ELIGIBLE?

    No, to be eligible as joint applicants, each applicant must either be an Australian citizen or permanent resident.  If each applicant is not an Australian citizen or permanent resident, then the joint application is not eligible under any of the Guarantees.

    WHY HAS MY LENDER SAID I’M NOT AN ELIGIBLE AUSTRALIAN PERMANENT RESIDENT WHEN THE INFORMATION GUIDE SAYS I AM?

    While Australian permanent residents are eligible as defined under the Australian Citizenship Act 2007 (Cth), Participating Lenders may have their own lending policies that restrict lending to certain permanent resident visa classes. In such cases, you may wish to check with another Participating Lender to see if you are eligible for the Scheme.

    I’M A FOSTER CARER FOR A CHILD. AM I CLASSIFIED AS AN ELIGIBLE SINGLE LEGAL GUARDIAN FOR THE FAMILY HOME GUARANTEE?

    No, to be eligible for the Family Home Guarantee as a single legal guardian, you require a court issued guardianship order.

    CAN I APPLY AS A SINGLE APPLICANT EVEN IF I HAVE A SPOUSE/DE-FACTO PARTNER?

    Yes. If you apply as an individual (single applicant), then only you individually, will need to satisfy the eligibility criteria. Please note, this means only you are named on the Guarantee place reservation and loan application (and your partner would not be included in the servicing of the loan).

    The Family Home Guarantee is only open to eligible single parents and eligible single legal guardians, and you can only apply as a single applicant (and cannot have a spouse or de facto partner). 

    AM I ELIGIBLE FOR THE FAMILY HOME GUARANTEE IF I HAVE BEEN SEPARATED, BUT THE DIVORCE HAS NOT YET BEEN FINALISED?

    No. The Family Home Guarantee requires applicants to be single and not have a spouse. If a borrower is separated but still legally married, they are not eligible. 

    WHAT IS THE MINIMUM OR MAXIMUM PERCENTAGE OF CUSTODY AN APPLICANT NEEDS TO HAVE TO BE ELIGIBLE FOR THE FAMILY HOME GUARANTEE?

    It is expected that the eligible single parent or eligible single legal guardian demonstrates that they are the natural or adoptive parent or legal guardian of a dependent within the meaning of s.5 of the Social Security Act 1991 (Cth). In a general sense, the person must show that they are legally responsible for the day-to-day care, welfare, and development of the dependent child and that the dependent child is in their care. This is not solely determined on the percentage of custody.

    I LIVE IN REGIONAL AUSTRALIA. AM I ELIGIBLE FOR THE REGIONAL FIRST HOME BUYER GUARANTEE?

    To be eligible for the Regional First Home Buyer Guarantee (RFHBG), you (or at least one applicant when applying as joint applicants) must have lived in the regional area or adjacent regional area you are purchasing in for the preceding 12-month period to the date you execute a home loan agreement.

    Where the applicant has been required by their current employer to relocate and, as a result, it has been impracticable to satisfy the 12-month requirement, applicants may be eligible and should check with their Participating Lender if this applies. Other eligibility and lenders criteria apply to all applicants.

    WHAT DO YOU DEFINE AS A REGIONAL AREA?

    A regional area is defined as: 

    • the Statistical Area Level 4 (ASGS SA4 2016) areas in a State or the Northern Territory that are not a capital city of that State or Territory; and 
    • Norfolk Island; or the Territories of Jervis Bay, Christmas Island or Cocos (Keeling) Islands; as defined in the version published by The Australian Bureau of Statistics (ABS) in July 2016. 

    The greater capital city areas of each state and the Northern Territory; and the entire Australian Capital Territory are excluded from the RFHBG. If you live in these areas, you may be eligible for the First Home Guarantee or Family Home Guarantee. 

    AM I ELIGIBLE TO APPLY FOR A GUARANTEE IF I HAVE BEEN APPROVED FOR AUSTRALIAN CITIZENSHIP BUT HAVEN'T HAD THE CITIZENSHIP CEREMONY?

    No, the Home Guarantee Scheme requires applicants to be an Australian citizen by the date they enter into their home loan agreement with a Participating Lender. Applicants need to finalise the citizenship process, including the ceremony and receipt of the certificate.

    I RECEIVE PAYMENTS FROM CENTRELINK. CAN I STILL APPLY FOR THE GUARANTEES?

    This will depend on your personal circumstances, the nature of the payment you receive and whether your income exceeds the limits for the Scheme. 

    If you have a question about your application or would like to apply, contact a Participating Lender.

    I’M AN ELIGIBLE SINGLE PARENT PREPARING TO SELL MY EXISTING HOME WITH MY FORMER PARTNER, CAN I BUY A DIFFERENT HOME UNDER THE FAMILY HOME GUARANTEE IN MY OWN NAME?

    Yes, unlike the First Home Guarantee and the Regional First Home Buyer Guarantee, you may be eligible for the Family Home Guarantee if you own property at the time of your Home Loan Agreement. An eligible scenario would include where you’re selling the home you currently own (jointly or individually), and using the funds from the settlement, you purchase a different home in your name solely.

    WHAT IF I OWN OR HAVE AN INTEREST IN PROPERTY IN AUSTRALIA?

    There are different property ownership tests for the different Guarantees.

    First Home Guarantee (FHBG) or Regional First Home Buyer Guarantee (RFHBG): In the 10 years prior to your Home Loan Date, you have not held 

    • a freehold interest in real property in Australia (this includes owning land only)
    • an interest in a lease of land in Australia with a term of 50 years (or more) or
    • a company title interest in land in Australia.

    These tests apply for property interests in all States and Territories of Australia, regardless of whether the property was residential or commercial property, for investment or owner-occupied purposes and whether or not it was ever lived in. 

    They also apply to you whether or not any of the interests listed above have been held by you on your own or together with someone else – for example, where you held an interest in property with a former spouse or de facto partner. 

    Family Home Guarantee (FHG): At the time of the Home Loan Date, you do not currently hold, or at the settlement of the property you are purchasing, you do not intend to separately hold:

    • a freehold interest in real property in Australia (this includes owning land only),
    • an interest in a lease of land in Australia with a term of 50 years (or more) or
    • a company with a title of interest in land in Australia.

    These tests apply for property interests in all States and Territories of Australia, regardless of whether the property was residential or commercial property, for investment or owner-occupied purposes and whether or not it was ever lived in.

    I’M AN ELIGIBLE SINGLE PARENT PREPARING TO BUY OUT MY EXISTING HOME FROM MY FORMER PARTNER, CAN I APPLY UNDER THE FAMILY HOME GUARANTEE?

    Yes, unlike the First Home Guarantee and the Regional First Home Buyer Guarantee, you may be eligible for the Family Home Guarantee if you own property at the time of your Home Loan Agreement. An eligible scenario would include where you’re purchasing the home you currently own jointly, which, on the settlement date, will be transferred to your name solely.

    I ALREADY OWN LAND. CAN I USE THE GUARANTEES TO BUILD ON IT?

    If you currently own residential property within Australia (e.g., land), then you are not eligible for any of the Guarantees.

    If you have previously owned but do not currently own property within Australia (i.e., freehold land, lease or company title), or if you currently own but at the settlement of the property you are purchasing, you do not intend to hold a separate interest in the property, then you may be eligible for the Family Home Guarantee if you are an eligible single parent or an eligible single guardian.

    WHAT IF MY PERSONAL CIRCUMSTANCES MEAN THAT I HAVE NOT RECEIVED A NOTICE OF ASSESSMENT (NOA) IN RESPECT OF MY TAXABLE INCOME?

    If you’re applying as joint applicants and one of you earns less than the tax-free threshold and is therefore not required to lodge a tax return, then you will need to provide your Participating Lender with evidence of your income.

    Your Participating Lender needs to be satisfied that your combined income as joint applicants is equal to or less than the taxable income threshold of $200,000. You will also need to declare via the Home Buyer Declaration (provided to you by your Participating Lender) that all information you provided to the lender in relation to your taxable income is true.

    In any other circumstances where you cannot produce a Notice of Assessment (for example, you have been working overseas), please contact your Participating Lender for advice on other documentation it may accept as evidence of your income. 

    ARE THE PROPERTY PRICE CAPS FLEXIBLE?

    No. The property price caps for the Home Guarantee Scheme are set by the Australian Government. 

    These caps have been set to ensure the Guarantees support people in buying a modest home anywhere across Australia. 

    ARE THE PROPERTY PRICE CAPS THE SAME FOR ALL THE GUARANTEES?

    Yes, the same property price caps apply across all three Guarantees in the Scheme.

    IS THE PRICE CAP FOR LAND AND BUILD FOR THE TOTAL PACKAGE, OR JUST THE BUILD PORTION?

    The property price threshold refers to the combined total of the purchase of land and the contract to build. 

    If the overall house and land price is over the applicable price cap, you will be ineligible for the relevant Guarantee. 

    WHAT IS A SCHEME PLACE RESERVATION?

    When you apply for a Home Guarantee Scheme-backed loan with a Participating Lender, your lender will assess your eligibility and then reserve a Scheme place on your behalf.

    This Scheme place will be reserved for you for 14 days, during which time you will need to organise a finance pre-approval with your Participating Lender.

    WHAT IF I HAVE A RESERVED PLACED BUT DECIDE TO CHANGE PARTICIPATING LENDER?

    If a Participating Lender reserves a Scheme place on your behalf and you then decide to apply for a Scheme-backed loan with another Participating Lender, you may be able to link that reservation to your existing Scheme place if: 

    • your original reservation remains active 
    • your preferred Participating Lender is available to make a reservation on your behalf 

    If you decide to apply to more than one Participating Lender, it is important that you: 

    • understand the time periods within which you must meet certain requirements – these will commence from the date of your first Scheme place reservation 

    use the same reservation details when speaking with each Participating Lender. If you do not use the same details, there may be issues in making a linked reservation on your behalf, which may impact your ability to obtain a Scheme-backed Loan from that Participating Lender. 

    WHAT HAPPENS IF MY SCHEME PLACE RESERVATION EXPIRES?
    • If your Home Guarantee Scheme place reservation expires you will be required to reapply for another Scheme place with a Participating Lender.
    • You will only be able to reapply if there is a Scheme place available at the time your Participating Lender submits an application on your behalf.
    WHEN DO I FIND OUT IF I HAVE SECURED A PLACE?

    Your Participating Lender will tell you if you have been successful in reserving a Home Guarantee Scheme place for a guaranteed loan under the relevant Guarantee. 

    Processing times vary between different Participating Lenders – generally, the time it takes to assess your eligibility for a Guarantee aligns with the Participating Lender’s timeframe for assessing your loan application. 

    Your home loan cannot be guaranteed under the Scheme unless you are also approved by your Participating Lender for an eligible loan on an eligible property or build. 

    Housing Australia is unable to provide advice about the status of your application for a Scheme place or associated loan application.

    HOW LONG DO I HAVE TO FIND A PROPERTY?

    After gaining a Home Guarantee Scheme place, you will be required to enter into a contract of sale (and an eligible building contract if constructing) within 90 days of being advised you have been pre-approved under the Scheme. No extensions from the required timeframe can be given. 

    There may be other timelines related to your Scheme place that differ between the guarantees, depending on the type of property you intend to purchase. 

    Contact your Participating Lender for more information on your Scheme reservation and the relevant timelines. 

    WHAT HAPPENS WHEN I FIND A PROPERTY?

    When you sign a contract of sale, it is important that you contact your Participating Lender immediately to finalise your financial details for your loan application. Your Participating Lender will notify Housing Australia and process your home loan application.

    CAN I BUILD MY OWN HOME?

    No, owner-builder contracts are not eligible under any of the Guarantees. 

    Contact your Participating Lender for more information on eligible building contracts.

    MY LAND IS NOT TITLED YET. WILL THIS AFFECT MY SCHEME RESERVATION?

    Participating Lenders require your land to be titled prior to any issuance of a Housing Australia Guarantee – therefore the land will need to be titled before the end of your 90-day pre-approval period. 

    WHEN DO I NEED TO MOVE IN?

    You must move into the property within six months of the date your home loan settles or, if you are building, once an occupancy certificate is issued. 

    Having an existing tenancy arrangement in the property you are purchasing will not necessarily exclude you from accessing the Scheme providing you meet the 6-month requirement outlined above. There are no extensions to this 6-month timeline. 

    Please contact your Participating Lender to discuss your particular situation.

    WHAT HAPPENS IF I MOVE OUT?

    If you move away for an extended period and your home becomes an investment property (i.e. you rent it out to tenants), then your home loan may no longer be guaranteed under the relevant Guarantee. If your move is a temporary one and you do not rent out your house (i.e. it remains your home) then your home loan may continue to be guaranteed under the relevant Guarantee. 

    Before moving out (or if you believe you may need to move out), you should discuss this with your Participating Lender so that you are fully aware of your responsibilities under the relevant Guarantee and the policies of your lender. If your home loan is no longer guaranteed under the relevant Guarantee, your Participating Lender may require you to take certain actions (including paying fees and/or charges or taking out lenders mortgage insurance). 

    Note that members of the Australian Defence Force are still required to be owner-occupiers under the Guarantees. If you are unable to meet the owner-occupier requirement because of your ADF duties, you may still be eligible if, at the time of entering into the relevant loan agreement, you intended to live in the property. We encourage you to speak to your Participating Lender about your specific scenario.

    WHAT HAPPENS IF I NEED TO SELL MY HOME?

    You can sell your home at any time even if your loan is guaranteed under the Home Guarantee Scheme. The Guarantee will end when the home is sold.

    DO AUSTRALIAN DEFENCE FORCE MEMBERS NEED TO BE OWNER-OCCUPIERS?

    Members of the Australian Defence Force are still required to be owner-occupiers under the Guarantees. However, if they are unable to meet the owner-occupier requirement because of their duties, they can still be eligible, if they intended to live in the property at the time of entering into their loan agreement with a Participating Lender.

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    We assist Australians throughout the nation. We work with over 35 lenders in Australia to bring you the best loan option with the lowest interest rate and the most appropriate home loan structure to grow your property portfolio

    About Us

    Australians have trusted us as expert home loan mortgage brokers for all types of their loans and mortgage needs such as first home buyer loans, refinancing home loans, agribusiness loans, business loan brokers, commercial loan brokers, car loan brokers, asset and equipment finance brokers, SMSF property loans, property development finance brokers, business car loan brokers, bad credit score lenders, medical professionals’ loans, personal loan brokers, and many more to help them find the suitable loans to finance their property dreams.

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