Family home guarantee
The Family Home Guarantee (FHG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible single parents or eligible single legal guardians of at least one dependent to buy a home sooner. It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.
The FHG aims to support eligible single parents or eligible single legal guardians of at least one dependent to buy a home, whether that single parent or single legal guardian is a first home buyer or a previous homeowner. From 1 July 2024 – 30 June 2025, 5,000 FHG places are available.
Under the FHG, part of an eligible home buyer’s home loan from a participating Lender is guaranteed by NHFIC. This enables an eligible home buyer to purchase a home with as little as 2% deposit without paying Lenders Mortgage Insurance.
For the FHG, any Guarantee of a home loan is for up to a maximum amount of 18% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan.
First home guarantee
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.
Under the FHBG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to buy a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
For the FHBG, any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.
Housing Australia has authorised a panel of participating Lenders to offer the FHBG to home buyers.
From 1 July 2024 – 30 June 2025, 35,000 FHBG places are available.
First home owner grant
The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It 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.
More Information
To see if you are eligible or to obtain more information about the First Home Owner Grant, please click and select the state or territory in which you intend to purchase your home.
Victoria Gov’t homebuyer fund
Eligible homebuyers can now receive a contribution of up to 25% towards the purchase price of their property, reducing their minimum required deposit to 5% and avoiding the need to pay Lenders Mortgage Insurance.
For eligible Aboriginal or Torres Strait Islander homebuyers, this contribution is up to 35% and the minimum required deposit is 3.5%.
The Victorian Homebuyer Fund is a shared equity scheme, meaning that the State’s financial contribution is made in exchange for a share, or proportional interest in the property. Click for more information
