Home Guarantee Scheme

Effective 1 July 2022, there have been changes to the Australian Government’s Home Guarantee Scheme.

If you’re looking for assistance to buy your first home or a family home, here’s what you need to know.

Home Guarantee Scheme

From 1 July 2022, the First Home Loan Deposit Scheme will be known as the Home Guarantee Scheme (HGS).

Under the HGS there will be two Guarantees available to eligible home buyers.

First Home Guarantee.

The First Home Guarantee, (previously known as the First Home Loan Deposit Scheme) has been expanded and will offer 35,000 places each financial year, beginning 1 July 2022.

Eligible first home buyers can purchase a new or existing home with a deposit of just 5%, avoiding Lenders Mortgage Insurance (LMI). Income and property price caps apply.  Download the fact sheet here.

Family Home Guarantee

The Family Home Guarantee has been extended to offer 5,000 guarantees each year from 1 July 2022 to 30 June 2025. This scheme aims to support eligible single parent families, with at least one dependent child, to purchase a family home with a deposit as little as 2%, regardless of whether that single parent is a first home buyer or a previous home owner. Income and property price caps apply. Download the fact sheet here.

The previous New Home Guarantee will no longer be available for new applications from 1 July 2022. 

Herein information is sourced from www.nhfic.gov.au.  Interested parties should seek appropriate financial advice and make their own investigations as to eligibility for concessions, rebates, exemptions and grants. Information is current as at July 2022, though is subject to change without notice, and no warranty, express or implied, is given as to its accuracy. AVJennings disclaims liability for any loss, damage or claim of any nature or kind (including negligence) incurred by any party which arises out of any alleged reliance on this article. ® Registered Trademark. © AVJennings Properties Limited. ABN 50 004 601 503. NSW Builders Licence 39168C, QLD Builders Licence No QBCC41712, VIC Builders Licence CDB-U 57318, SA Builders Licence BLD56537.