Home Guarantee Scheme – Buying Your New Home?

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Let’s help you understand more about Home Guarantee Schemes!

The Home Guarantee Scheme (HGS), is an Australian Government initiative to help you buy or build your home sooner. We’re proud to continue supporting this initiative.

First Home Guarantee

Under the expanded Home Guarantee Scheme, the Government is now releasing 35,000 First Home Guarantee places each year to support eligible first home buyers or buyers who have not owned a property in the past 10 years to purchase a new or existing home with a deposit as low as 5%.

Buy your home sooner

The First Home Guarantee is an Australian Government Guarantee that helps first home buyers or buyers who have not owned a property over the past 10 years to buy a home sooner.

You can use the First Home Guarantee to purchase a new or existing home with a deposit of as little as 5%. You can’t use the First Home Guarantee to buy an investment property. 

Eligibility criteria

To apply for the First Home Guarantee, you’ll be subject to the following eligibility criteria. You need to be able to provide documentation of your eligibility to secure your position. 

Eligibility criteria includes: 

Your purchased property must be an acceptable property type and within the property price threshold for the suburb and postcode. You can check the property price cap for your area on NHFIC’s website

  • All applicants can be First Home Buyers or must not have owned or had an interest in residential property (whether as an investment or owner occupied) in the past 10 years.
  • Individual applicants must have earned less than $125,000 or $200,000 for joint applicants in the last financial year (as evidenced on your ATO Notice of Assessment).
  • All applicants must be at least 18 years of age and have a valid Medicare card (or Defence ID).
  • All applicants must be Australian citizens or Permanent Residents with either a valid Australian passport, proof of Australian citizenship or proof of Permanent Residency.
  • Applicants must have a deposit of between 5% and 20% of the property’s value
  • Your purchased property must be an acceptable property type and within the property price threshold for the suburb and postcode. You can check the property price cap for your area on NHFIC’s website.

Family Home Guarantee

5,000 guarantees will be issued each year until 30 June 2025 to support eligible single parents or legal guardians with at least one dependent child to buy their first home or to re-enter the housing market with a deposit of as little as 2%.

Find your new home as a single parent:

The Family Home Guarantee is an Australian Government scheme that helps single parents or legal guardians buy a family home.

You can use the Family Home Guarantee to build a new home or buy an existing home with a deposit of as little as 2%. Both first home buyers and previous home owners can apply. You can’t use the Family Home Guarantee to buy an investment property.

To be eligible for the Family Home Guarantee you must:

  • be an Australian citizen or Permanent Resident, aged 18 years or over
  • be a single parent or legal guardian with at least one dependent living with you
  • have earned $125,000 or less last financial year.
  • Property requirements
  • You can currently own a home, but you must intend not to when you settle on your new HGS purchase.
  • You have at least a 2% deposit to contribute towards your property purchase.
  • The single parent or legal guardian must be the only name listed on the loan and the certificate of title.

This article is general and has not taken into account your objectives, financial situation, or needs. Consider whether any advice is right for you. You may need financial advice from a qualified adviser. Consider the product disclosure statement (PDS) before making any financial decision. For more information.

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