Government Guarantee Schemes

The First Home Buyer Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers purchase a home sooner. The purpose of the First Home Buyer Guarantee (FHBG) is to support eligible home buyers to enter or re-enter the housing market sooner.

It does this by allowing Housing Australia to issue up to 35,000 guarantees each financial year in the form of loans to eligible home buyers with a deposit of between 5 and 20 per cent of the property value.

The Family Home Guarantee (FHG) is for single parents with dependents and single legal guardians, including those who are not first home buyers. The FHG is designed to support eligible single parents on a pathway to home ownership. 5,000 guarantees will be issued for each of the 2022-23, 2023-24 and 2024-25 financial years to eligible single parents with a deposit of between 2 and 20 percent of the property value.

The Regional First Home Buyer Guarantee (RFHBG) is an Australian Government initiative that aims to support eligible regional home buyers to purchase a home sooner. Under the RFHBG, part of an eligible regional home buyer’s home loan from a Participating Lender will be guaranteed by Housing Australia. This is aimed at enabling the eligible regional home buyer to purchase a modest home in a regional area with as little as a 5% deposit. The RFHBG is open across selected regional areas in Australia to all eligible regional home buyers in respect of Eligible Loans. The number of places under the RFHBG is limited.

If you think you're eligible, contact Regional Australia Bank, as an approved Participating Lender, to apply for a loan.

We'll step through the application process with you and if approved, will help organise the loan. Under the Home Buyer Guarantee (HBG), or Family Home Guarantee (FHG) part of an eligible home buyer’s home loan will be guaranteed by Housing Australia up to a maximum amount of 15% of the value of your property (as assessed by your lender).

Get packing to move in to your new home within 90 days of settlement.

If you’re a first home buyer, you may be eligible to withdraw voluntary super contributions you’ve made to put toward a home deposit. Under the First Home Super Saver Scheme, first home buyers, who make voluntary super contributions of up to $15,000 per financial year into their super, can withdraw these amounts (in addition to associated earnings / less tax) from their super fund to help with a deposit on their first home.

Visit the ATO website for more information.

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a state specific grant under the First Home Owner Grant (New Homes) scheme. This is a one-off payment for eligible first home buyers who purchase or build a residential property to live in.

Visit the First Home Owners Grant website to find out more.

Most State and Territory governments provide stamp duty concessions to first home buyers and sometimes waive the need to pay stamp duty altogether. Whether you’re purchasing an investment property or a principal place of residence are all taken into account. Since stamp duty can add another 3-5% to the purchase price, this is a real help. Depending on your state or territory, you may be eligible for concessions as a first home buyer.

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