The Australian Government’s New Home Guarantee

Why wait to get your first home when you have everything at your fingertips to start right now?

The New Home Guarantee: More Opportunities To Buy Your First Home

Great news for first-home buyers!
The New Home Guarantee has been extended, offering an additional 10,000 places from 1 July 2021 to 30 June 2022.

Typically, first home buyers with less than a 20% deposit are required to pay lenders mortgage insurance. However, under this scheme, eligible first home buyers can have part of their home loan guaranteed by NHFIC (National Housing Finance and Investment Corporation). This enables you to purchase your first home sooner, with as little as a 5% deposit.

The guarantee provided by NHFIC covers up to a maximum of 15% of the value of your property, as assessed by your lender. It’s important to note that this guarantee is not a cash payment or a deposit for your home loan. Instead, it offers peace of mind and increased accessibility to home ownership.

Take advantage of the New Home Guarantee and explore the possibilities of buying your first home with a smaller deposit.

View the New Home Guarantee fact sheet to learn more.

If your home loan is covered by the Scheme, you can also access other government programs – like the Australian Government’s First Home Super Saver Scheme, Home Builder Grant, or First Home Owner Grant and concessions that may be offered by State and Territory governments. These other programs apply their own criteria and conditions, and you should make your own enquiries on their terms.

This scheme enables you to purchase your first home sooner, with as little as a 5% deposit.

New Home Guarantee FAQs

See What Schemes You Qualify For

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