Family Home Guarantee (FHG)

What is the Family Home Guarantee (FHG) and how does it work?

The Family Home Guarantee is an Australian government initiative that supports eligible single parents and single legal guardians to buy a home sooner. 

If you’re eligible, you can purchase or build a home with a deposit of as little as 2 per cent without paying Lenders Mortgage Insurance (LMI), which could potentially save you thousands. This is because the Housing Australia, which administers the Scheme, guarantees to us, as a participating lender, up to 18 per cent of the value of the property.

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Am I eligible?

• You need to be an Australian citizen or permanent resident and at least 18 years of age. 
• You need to be a single parent or single legal guardian with at least one dependent child. 
• You need to meet the income eligibility requirements. Your taxable income cannot exceed $125,000 for the previous financial year, as shown on the Notice of Assessment (issued by the Australian Taxation Office). Child support payments are not included as income.
• You need to be able to demonstrate your ability to save over time (genuine savings), with a minimum 2% deposit saved for the property you wish to buy plus enough to cover standard fees and charges like stamp duty.
• As the single parent or single legal guardian, your name must be the only name listed on the loan and the title.
• You can be either a first home buyer or previous homeowner who does not currently own property.
• There are property price thresholds that apply. Use the Housing Australia postcode search tool to find out the maximum property price of the area you're interested in.

What type of property can I buy?

For a property to be eligible it must be:

• an existing house, townhouse or apartment
• a house and land package
• land and a separate contract to build a home
• an off-the-plan apartment or townhouse

Key information about the Family Home Guarantee

How to apply

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