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 Grant Schemes, 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
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.
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.
First home buyer resources:
Why choose us?
We know how essential teachers are. That’s why we offer great discounts and benefits for you.
We’re customer owned. You put your students first, we put our members first.
Sustainability matters to us. We believe in the power of responsible investment.