First Home Guarantee (FHBG)

Supporting eligible home buyers to buy a home sooner.

Eligible home buyers have the chance to acquire a house through the Home Buyer Guarantee with as low as a 5% down payment. The Guarantee works by reducing the down payment required for a house loan, which is intended to help you purchase your home more quickly.




Introduction Statement


The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers purchase a home sooner. It is administered by the 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 purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.

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.

From 1 July 2023 – 30 June 2024, 35,000 FHBG places are available to eligible home buyers.


Download Fact Sheet Download Information Guide





To apply for the FHBG, home buyers must be:


  • applying as an individual or 2 joint applicants  
  • an Australian citizen(s) or permanent resident(s)* at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
  • intending to be owner-occupiers of the purchased property
  • first home buyers or previous homeowners who haven't owned a property in Australia in the past ten years.

*The Department of Home Affairs classifies New Zealand Citizens as Permanent Residents for the purposes of citizenship applications only. This does not extend outside of this process. To verify your eligibility for the Home Guarantee Scheme, please perform a VEVO check with a participating lender.

Access the Eligibility Tool - a short questionnaire to help home buyers identify which Guarantee/s they may be eligible for.

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