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Home Guarantee Schemes

The Home Guarantee Scheme supports eligible home buyers purchase a home sooner through the First Home Guarantee, Family Home Guarantee or Regional First Home Buyer Guarantee.

Home Guarantee Schemes

We all know saving for a deposit can be tough, which is why we’re proud to work with the Australian Government to offer the Home Guarantee Scheme. The Scheme can help support eligible home buyers purchase a home sooner through the First Home Guarantee, Family Home Guarantee or Regional First Home Buyer Guarantee.

What is the First Home Guarantee?

The First Home Guarantee is to support first home buyers to enter the housing market sooner.

Typically, first home buyers who have less than a 20% deposit need to pay lenders mortgage insurance. Under the First Home Guarantee, eligible buyers can instead have as little as a 5% deposit to go towards the purchase or build of their new home and not pay lenders mortgage insurance.

What is the Family Home Guarantee?

The Family Home Guarantee is for single parents with dependents, including those who are not first home buyers. The purpose of the Family Home Guarantee is to support eligible single parents on a pathway to home ownership.

What is the Regional First Home Buyer Guarantee?

The Regional First Home Buyer Guarantee is to allow eligible regional first home buyers to enter the housing market sooner and purchase a home in regional areas with a deposit as little as 5 percent.

Am I eligible?

You can check your eligibility for the Home Guarantee Schemes by using the Eligibility Checklist.

What are the property price caps?

The Home Guarantee Schemes assist in the purchase or construction of a modest home and the value of the residential property must not exceed the relevant price cap for the area in which it is located. The price caps for capital cities, large regional centres and regional areas are available using the property price cap tool.

Further information

Information guides are available for the Guarantee Schemes:

For further details please visit Housing Australia’s website

How do I apply?

To apply for any of the Home Guarantee Schemes, you will need to meet the eligibility requirements noted above and complete a home loan application with us.

We recommend checking your eligibility and reading through all the finer details provided.

To be eligible for the Home Guarantee Schemes with us, you will need to meet the below prerequisites:

  • All required documentation to be held before reservation/assessment:

    • Completed Home Loan Application Form (no reservations to be made without application)

    • Home Buyer Declaration

    • Medicare Card

    • Current Notice of Assessment

      • Eligible first home buyers must use the maximum amount of their savings as a deposit (funds cannot be held back for other purposes, i.e. renovations, wedding, redraw etc.).

Please note, further lending criteria may apply.

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How can I buy a home sooner?

We’re proud to be one of the participating lenders of the Home Guarantee Scheme.

We could help you own your own home sooner. As a customer-owned bank, we exist because of you, for you. We have a range of home loans to suit your needs while you get to bank with a bank who cares.