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Home Guarantee Scheme 

Helping you buy your home with a deposit from as little as 5%

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  • Latest update

    From 1 July 2024, the Home Guarantee Scheme (HGS) offers more support to help eligible home buyers purchase a home sooner, including first home buyers, single parents, and people in regional areas.

    50,000 new places are now available for the 2024-25 financial year across three Scheme Guarantees:

    • 35,000 for the First Home Guarantee (FHBG)
    • 10,000 for the Regional First Home Buyer Guarantee (RFHBG)
    • 5,000 for the Family Home Guarantee (FHG)


    The HGS, an Australian Government initiative administered by Housing Australia, is available through 32 participating lenders. Since January 2020, over 160,000 Australians have benefited from the scheme.

  • Unlock your homeownership dream faster

    Saving for a house deposit can feel like climbing a mountain. Don’t let it hold you back! We’re proud to partner with the lenders who participate in the Government’s Home Guarantee Scheme to offer a helping hand.

    With a smaller deposit required, you could be in your new home sooner than you think. Let’s explore your options and turn that dream into reality!

  • What is the First Home Guarantee?

    Own your first home sooner!

    The Australian Government’s First Home Guarantee helps eligible low and middle-income earners buy a home with just a 5% deposit. With 35,000 spots available this year, it’s a great chance to get on the property ladder faster.

  • What is the Regional First Home Buyer Guarantee?

    Own your dream home sooner in regional Australia!

    The Government’s Regional First Home Buyer Guarantee is designed specifically for you. This program allows eligible low and middle-income earners to purchase a home in a regional area with a deposit as low as 5%.

    With 10,000 spots available this year through participating lenders, it’s a great opportunity to unlock homeownership in a thriving regional community.

  • Why this is great news for you

    In today’s rising cost-of-living environment, saving a substantial down payment (20%) to avoid Lenders Mortgage Insurance (LMI) or relying on a guarantor can feel impossible.

    The First Home Guarantee allows eligible buyers to contribute a minimum deposit of only 5% of the property’s value. Housing Australia then provides a guarantee to the lender, covering up to 15% of the property’s value.

  • Are you eligible for the First Home Guarantee, Family Home Guarantee or Regional First Home Buyer Guarantee?

    To check your eligibility for the Home Guarantee Scheme, you can visit the Housing Australia website. The following conditions will normally apply:

    • You must be an Australian citizen or permanent resident who is 18 years or older.
    • You can’t have owned or had any share (including apartments or company titles) in a residential property in the past 10 years, no matter if it was an investment or a place you lived in.
    • Singles: Your taxable income (from your ATO Notice of Assessment) must be under $125,000 per year.
    • Couples: Your combined taxable income (from your ATO Notices of Assessment) must be under $200,000 per year.
    • Under the First Home Guarantee and Regional First Home Buyer Guarantee, eligible co-borrowers include those who are married, in a de facto partnership, siblings, parent and child, or friends.
    • The Guarantee is applicable solely to Owner Occupied home loans that are repaid on a principal and interest basis.
    • Investment properties and Interest Only loans do not qualify for the Guarantee.
    • If the loan is for both purchasing vacant land and constructing a house, it may be eligible.
    • Eligibility is maintained even if the construction loan agreement allows Interest Only payments during the partially funded period.
    • Applicants are required to provide a deposit ranging from 5% to 20% of the property’s value and must contribute the maximum amount of funds they have available.
    • Under the Regional First Home Buyer Guarantee, at least one applicant is required to have resided in the specified region (ASGS SA4 2016) or a neighbouring region for the entirety of the past 12 months.
    • To check if your postcode is eligible under the Regional First Home Buyer Guarantee, go to Housing Australia Regional Checker.

    The maximum price of the property you can purchase depends on the suburb and postcode of your new property. Use Housing Australia’s property price threshold tool to verify the price limit for the suburb and postcode of your property.

    The Guarantee can be utilised just once for the settlement of a home. If you fail to buy a property within the necessary timeframe, you might have the opportunity to reserve a new place.

How to apply

To apply for the First Home Guarantee, Family Home Guarantee or Regional First Home Buyer Guarantee, speak to one of our mortgage brokers who will guide you through the application process. Simply contact us or call (02)8089 0297.

1. Prepare

Discuss with our mortgage brokers the steps to take in preparation for being allocated a place (subject to eligibility criteria).

2. Applying

Our mortgage brokers will assist in gathering the necessary documents, submit them for you, and provide regular updates on the status of your application.

Under the Home Guarantee Scheme, you must buy your home within 90 days following approval.

3. Settle in

Relax and enjoy your new home after purchase.

Grants and Concessions

First Home Owners (New Homes) Grant

The First Home Owner Grant, established in 2000, is a governmental initiative aimed at mitigating the impact of the Goods and Services Tax (GST) on home purchases or construction. This grant provides a single payment to qualified first-time homebuyers acquiring or constructing a residential property for personal occupancy. Eligibility for the grant does not depend on financial criteria like income.

For more details, visit the First Home Owners Grant website.

Stamp duty concessions

Stamp duty is a tax imposed by state or territory governments on specific transactions, such as the purchase of homes, land, or investment properties. As a first home buyer, depending on the state or territory you reside in, you might qualify for certain discounts or exemptions.

As a first home buyer in NSW, you could qualify for a complete waiver or a discounted rate on transfer duty through the First Home Buyers Assistance Scheme.

For the latest thresholds for concessions and exemptions on stamp duty in NSW visit First Home Buyers Assistance scheme.

  • Essential Information

    Applications are subject to credit approval. Once the allocation of loans under the scheme has been exhausted, standard lending approval criteria, including the need for LMI where appropriate, will apply.

    To find out more about the Home Guarantee Scheme, visit the Australian Government’s webpages for the First Home Guarantee, Family Home Guarantee and Regional First Home Buyer Guarantee.