The Home Guarantee Scheme is an Australian Government initiative that helps home buyers to buy a home sooner. The Home Guarantee Scheme supports home buyers who have saved a small deposit, and meet other eligibility criteria, to get a home loan to buy a home. There are three Guarantees available to suit different types of home buyers.
The First Home Guarantee is part of the Home Guarantee Scheme, an Australian Government initiative that helps home buyers to buy a home sooner.
The First Home Guarantee supports home buyers who have saved a minimum deposit of 5% of the Property Value, and meet other eligibility criteria, to buy a home.
For the 2025/2026 financial year, 35,000 places are available for the First Home Guarantee.
The Regional First Home Buyer Guarantee is part of the Home Guarantee Scheme, an Australian Government initiative that helps home buyers to buy a home sooner.
The Regional First Home Buyer Guarantee supports regional home buyers who have saved a minimum deposit of 5% of the Property Value, and meet other eligibility criteria, to buy a home in a regional area. For the 2025/2026 financial year, 10,000 places are available for the Regional First Home Buyer Guarantee.
The Family Home Guarantee is part of the Home Guarantee Scheme, an Australian Government initiative that helps home buyers to buy a home sooner. The Family Home Guarantee supports single parents or single legal guardians of one or more dependent children, to buy a home sooner. They need to have saved a minimum deposit of 2% of the Property Value and meet other eligibility criteria.
For the 2025/2026 financial year, 5,000 places are available for the Family Home Guarantee.
Home buyers usually need a deposit of 20% of the Property Value to get a home loan, and those with a smaller deposit may require Lenders Mortgage Insurance (LMI).
Under the Home Guarantee Scheme, Housing Australia provides a Guarantee to the lender, so home buyers only need a 2% or 5% deposit depending on the type of Guarantee. This helps home buyers to buy a home sooner, with lower upfront costs.
Home buyers are responsible for meeting all costs and repayments for home loans associated with the Home Guarantee Scheme including but not limited to stamp duty, application fee and legal costs.
- 1. Eligible home buyer
Home buyer meets all Home Guarantee Scheme eligibility criteria. - 2. Small deposit
Home buyer saves minimum deposit of 2% or 5% of Property Value, depending on Guarantee. - 3. Government Guarantee
Housing Australia provides Guarantee to Participating Lender to enable home buyer to borrow up to 95% or 98% of Property Value, depending on Guarantee. - 4. Home loan from Participating Lender
Participating Lender provides home loan. - 5. Home ownership
Home buyer buys and moves into their home.
A Guarantee protects the Participating Lender, not the home buyer. It is not a cash payment to a home buyer, or a deposit for a home – home buyers will not receive any funds. It essentially means that if a home buyer defaults on their home loan, and selling the property doesn’t cover the outstanding amount they owe on their mortgage, then Housing Australia ‘guarantees’ to pay the lender a shortfall up to a pre-agreed limit.
For the First Home Guarantee and the Regional First Home Buyer Guarantee, the pre-agreed limit is up to 15% of the Property Value; and for the Family Home Guarantee it is up to 18%. The exact amount is set during the application process and depends on the deposit and the Property Value when purchased.
For the Home Guarantee Scheme, the Property Value is assessed by the Participating Lender, and it may be different to the purchase price. Home buyers need to meet Home Guarantee Scheme eligibility criteria and also the lender’s own lending criteria.
Home buyers need to meet a range of eligibility criteria to qualify for the Home Guarantee Scheme. These depend on the type of Guarantee, and include the following:
- Citizenship – be an Australian citizen(s) or permanent resident(s) at the Home Loan Date*
- Income – taxable income at or below $125,000 (individual) or $200,000 (joint), shown on your ATO Notice of Assessment
- Deposit – minimum 5% (First Home Guarantee or Regional First Home Buyer Guarantee) or 2% (Family Home Guarantee) of the Property Value
- Property ownership –
- First Home Guarantee or Regional First Home Buyer Guarantee: must be a first home buyer or not have owned a property in Australia in the last 10 years (applies to both in a joint application) at the Home Loan Date*
- Family Home Guarantee: must be a buyer who currently doesn’t own property or not have any other property interest once your new home settles
- Owner-occupier – you must buy or build a home to live in (investment properties are not eligible)
- Loan type – owner-occupier loan with Principal and Interest repayments from a Participating Lender, up to 30 years (plus up to 3 years to build a new home)
- Applicant type –
- First Home Guarantee / Regional First Home Buyer Guarantee: Individuals or buying with one partner, friend or family member
- Family Home Guarantee: Single parents or single legal guardians of one or more dependent children
- Minimum age – must be at least 18 years old
Home Loan Date*
The Home Loan Date is the date you sign your home loan agreement with your Participating Lender. You should confirm this date with the lender, as this date can vary between buyers and lenders.
| First Home Guarantee | Regional First Home Buyer Guarantee | Family Home Guarantee | |
| Eligibility criteria |
To be eligible, home buyers must meet criteria relating to personal circumstances, the property, and the home loan. Check the website and Information Guide for full details. |
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| Minimum deposit | 5% of property value | 5% of property value | 2% of property value |
| Home buyer type | Individuals or buying with one partner, friend or family member. | Individuals or buying with one partner, friend or family member. One of the home buyers must have lived in the regional area of purchase, or an adjacent regional area, for the 12 months up to the Home Loan Date. |
Single parents or single legal guardians of one or more dependent children. |
| Homeowner status | First home buyers or those who haven’t owned a property in Australia in the last 10 years. | Buyers who don’t currently own property or those who won’t have any other property interest once their new home settles. |
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| Property type | New or existing home to be lived in as an owner-occupier |
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| Property price caps | Price caps vary by location and can be viewed on Housing Australia's website |
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| Income test | Taxable income up to $125,000 (individual) or $200,000 (joint) | Taxable income up to $125,000 | |
| Purchase location | All Australia | Regional areas only |
All Australia |
| Home loan type | An owner-occupier home loan from a Participating Lender with:
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| Citizenship | Australian citizen(s) or permanent resident(s) |
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| Available places FY 2025-26 | 35,000 | 10,000 | 5,000 |
| More information | This comparison table provides an overview of key features of the Home Guarantee Scheme. If you are not eligible for one type of Guarantee, you might be eligible for another. Find out more about each Guarantee on Housing Australia’s website www.housingaustralia.gov.au | ||
Use the Eligibility Tool on Housing Australia’s website www.housingaustralia.gov.au for a quick check of the main eligibility criteria to help you work out which Guarantee you might be eligible for.
Also look at the information on Housing Australia’s website and the Information Guide that you can download from the website.
Submit a Home Loan enquiry to start your application, or speak with one of our Home Loan Consultants to discuss the most suitable Guarantee for you. They will assess your eligibility and submit an application to Housing Australia to reserve a Guarantee place for you.
This place is held for 14 days, to give you time to complete your application and apply for a home loan.
Work with one of our Lending Specialists to complete your application. You’ll need to provide documents such as proof of citizenship of permanent residency, your ATO Notice of Assessment from last financial year, and a signed Commonwealth Statutory Declaration confirming you meet the Home Guarantee Scheme eligibility criteria.
Once all your documents are provided, we will request Housing Australia to secure your Guarantee Place, allowing you time to find a home.
If you are eligible, our Lending Specialist will notify you that your place is pre-approved. You then have 90 days to find a home and sign a contract of sale.
Note that your home loan will also need to be approved by Auswide Bank, based on our own lending criteria.
Use the Postcode Search Tool on Housing Australia’s website to check the price cap for the location you want to buy in. The tool is only a guide – confirm the price cap with your Lending Specialist for any property you are considering buying.
Once you find your new home and sign a contract of sale, your Lending Specialist will manage the final approvals.
Once settlement is completed, it is time to move in!
To retain the Guarantee on your home loan, you must meet ongoing requirements, such as living in the property as an owner-occupier.
If these criteria aren’t met, the Guarantee may no longer apply, and you could be required to pay LMI or other additional costs.
More For First Home Buyers
The First Home Owners' Grant is a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria.
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