First Home Guarantee (FHBG)
Get into your new first home sooner!
The FHBG is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers purchase a home sooner.
It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
Refer to the FHBG Fact Sheet and Information Guide for full details.
Make an appointment with a MyState Bank lender to start your application
Who is eligible?
Check your eligibility using the Housing Australia Eligibility Tool - a short questionnaire to help home buyers identify which Guarantee/s they may be eligible for.
Generally, to apply for the FHBG, home buyers must be:
- Individual or joint applications.
- Australian citizens or permanent residents who are at least 18 years of age.
- Individual applicants with a taxable income of up to $125,000 per annum, and joint applicants with a combined taxable income of $200,000 per annum, as shown on the Notice of Assessment issued by the Australian Taxation Office.
- Applicants can be either first home buyers or previous homeowners who haven’t owned a property in Australia in the past 10 years. Prior property ownership includes an interest in real property (including owning land) in Australia, a lease of land in Australia or a company title interest in land in Australia.
- Applicants who intend to be owner-occupiers of the purchased property.
Property price thresholds
Use the Property Price Cap Tool to look up the property price thresholds by suburb or postcode.
