The First Home Guarantee (FHG)
This may be a fantastic opportunity for eligible first home buyers to enter the property market sooner. Administered by the federal government, this initiative allows eligible buyers to purchase a home with a deposit as low as 5% without having to pay Lenders Mortgage Insurance (LMI).
Under the scheme, the government steps in and guarantees to the lender up to 15% of the property value. This opens the door for first home buyers who might not have a large deposit saved up.
To be eligible, you'll need to meet certain criteria, so it's worth checking the details on the Housing Australia website or chatting to your lender.
How it works
- Save as little as 5% deposit plus stamp duty (if any) and transaction costs
- Government guarantees up to 15% of the property’s value
- No income cap applies for applications lodged from 1 October 2025
Eligibility snapshot
- Australian citizen or permanent resident
- First home buyer (you and your co-buyer must not have owned property in Australia in the last 10 years)
- Minimum 5% deposit saved
- Intend to live in the property
- Property value is below the relevant location threshold set out here
For more information about the Home Guarantee Scheme, please click here.
View Properties
For loan applications from 1 October 2025
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Disclaimer: The information provided here and in the First Home Buyer Hub is for general informational purposes only and is intended to assist first home buyers in understanding the home buying process in Australia. While every effort has been made to ensure the accuracy and currency of the content, including summaries of first the home buyer guarantee, government grants, stamp duty concessions, and other incentives in some States, the material presented should not be relied upon as legal, financial, tax or investment advice.
Government policies, eligibility criteria, and entitlements may change over time and vary between jurisdictions. Users must consult official government sources and seek independent professional advice (including legal and tax advice) tailored to their individual circumstances before making any decisions or taking any action based on the information contained on this website.
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