Government Home Guarantee Schemes
The Home Guarantee Scheme is an Australian Government initiative, administered by Housing Australia, designed to help eligible home buyers, particularly those with small deposits to purchase a home sooner. The scheme offers three tailored guarantees:
- First Home Guarantee
- Regional First Home Buyer Guarantee
- Family Home Guarantee.
Under the scheme, a 2% or 5% deposit is required (depending on the guarantee type), as Housing Australia provides a guarantee to the lender, reducing the need for Lenders Mortgage Insurance . Eligibility hinges on criteria such as Australian citizenship or permanent residency, income thresholds, property ownership history, and owner-occupier status.
Applications must be made through a Participating Lender, who assesses eligibility, submits applications to Housing Australia, and guides home buyers through the process.
Once a place is reserved, applicants typically have 90 days to find a property and sign a contract, with both the purchase price and the lender-assessed property value needing to fall within a location-specific price cap.
A My Local Broker can assist with with eligibility, applying, or how each guarantee differs. Contact a Local broker today
Full information is available from Housing Australia
Information is correct at August 2025.
Disclaimer: The information provided in this article is not legal or financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the recommendations, having regard to your own objectives, financial situation and needs. We encourage you to consult a finance professional before acting on any suggestions provided in this article or on this website.
