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First Home Guarantee

Aka, the 5% deposit scheme.

Meet the First Home Guarantee.

The First Home Guarantee (FHBG) is an Australian Government initiative to help first home buyers buy their first home. Eligible first home buyers can buy or build a home with a deposit of as little as 5% (lenders criteria apply). The government guarantees 15% of the home so eligible buyers do not need to pay the traditional Lenders Mortgage Insurance (LMI).

Eligibility requirements & More Information

FHBG eligibility requirements:

  • You haven’t previously owned or had an interest in a property in Australia, in the last 10 years
  • You’re an eligible first home buyer
  • You’re an Australian citizen or Permanent Resident
  • You’re 18 years of age, or older
  • You possess a deposit of at least 5% in genuine savings
  • You meet property price threshold requirements
  • Applying as an individual, couple (married/ de facto), or joint application with friends and family.

 

More Info:

From 1 October 2025, big changes are coming to the First Home Guarantee.

  • Unlimited places – no cap on the number of buyers who can access the scheme

  • Higher property price caps – up to $900,000 in metro SA and $500,000 in non-metro.

  • No income caps – opening the scheme up to more first home buyers

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