Get into your first home sooner
Save thousands in Lenders Mortgage Insurance costs
All members get access to the same great loan benefits
The First Home Guarantee (FHBG) is an Australian Government initiative to help eligible first home buyers purchase a home sooner. It does this by providing a guarantee that will allow eligible first home buyers to purchase a home with a deposit of as little as 5% without needing to pay for Lenders Mortgage Insurance (LMI).
From 1 July 2022, there will be 35,000 FHBG places available for the 2022-23 financial year.
To apply to the First Home Guarantee, you'll be subject to the following eligibility criteria. You need to provide documentation to prove your eligibility and secure your position.
Eligibility criteria includes:
Eligible property types for the First Home Guarantee include:
The government has also developed a questionnaire to help first home buyers determine the property price caps for the suburbs where they’re looking to purchase a property. All you need to do is follow the link and enter the postcode for the area you want to buy in to find out the property price cap.
What about the state and federal building grants on offer?
Great news! The building grants currently on offer from state and federal governments are independent to this Scheme, which means if you're eligible for both this Scheme and any of the other grants, you'll benefit from both.
No matter what stage you're at when it comes to buying a home, we're here to help you from application to settlement, as well as answer any questions that come up along the way.
Are you after more information? One of our experienced home lenders will get in touch with you to answer any questions you may have.Enquire now
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Meeting the eligibility criteria does not mean that you will receive either a guarantee or a loan from a participating lender.
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