First Home Buyer

Home Guarantee Scheme

Home Guarantee Scheme

Your Guide to the Home Guarantee Scheme: Unlock the Door to Your Dream Home! 

Hey there! We know how important it is for you to achieve your homeownership dreams. Luckily, the Australian government has your back with the Home Guarantee Scheme. This awesome program was created to help you secure your own home, and we’re here to give you all the juicy details. Get ready to learn about the benefits, eligibility criteria, and how this scheme can be a game-changer for you and your family. 


Understanding the Home Guarantee Scheme 

Say hello to the Home Guarantee Scheme, a fantastic government initiative that makes life easier for first home buyers. It’s all about overcoming the challenges of entering the property market, like saving up a huge deposit. 


Benefits of the Home Guarantee Scheme 

  • Low Deposits, High Dreams: The Home Guarantee Scheme lets you secure a home with a deposit as low as 5% of the property’s value. No more stressing about saving up a massive amount upfront – homeownership is within reach! 
  •  No Mortgage Insurance Frenzy: Forget about Lenders Mortgage Insurance (LMI) eating up your hard-earned cash. With the Home Guarantee Scheme, you can avoid this extra expense and save even more money. 
  • Play the Field for the Best Deals: There’s a bunch of lenders that participate in this scheme. That means you can shop around for the best interest rates and loan terms that suit your unique financial situation. 
  • More Houses, More Options: With a lower deposit requirement, you can expand your horizons and consider a wider range of properties. Imagine finding your perfect home in that dream location you thought was out of reach! 


Eligibility Criteria 

To qualify for the Home Guarantee Scheme, you’ve got to meet a few requirements, such as: 

  • Being an awesome Aussie citizen or permanent resident. 
  • Being at least 18 and kicking. 
  • Never owning a property in Australia before. 
  • Meeting income thresholds, which can vary based on where you live and your family’s size. 


How to Apply 

  • Hunt for “Guaranteed Homes”: Look for properties approved under the Home Guarantee Scheme. These little gems are your ticket to success.  
  • Check Your Eligibility: Make sure you’re eligible by meeting the scheme’s criteria, like income thresholds and property value limits. 
  • Get Your Finances in Order: Connect with a lender or mortgage broker to secure financing for your dream home. Don’t forget to tell them about your Home Guarantee Scheme participation. 
  • Apply with a Lender: The application process is usually handled through participating lenders. They’ll walk you through the steps and get you closer to approval. 
  • Score Your Dream Home: Once you’re approved, it’s time to make your move! Purchase the property you’ve been eyeing and enjoy those beautifully reduced deposit requirements and potential savings on mortgage insurance. 


The Australian Home Guarantee Scheme is your golden ticket to homeownership. It’s time to turn those dreams into reality! With reduced deposits, no LMI expense, and the freedom to choose the best loan terms, you’re on your way to joining the ranks of proud homeowners. Don’t worry – as your financial adviser & mortgage broker, we are here to guide you through the ins and outs of this scheme and help you make informed decisions along your homeownership journey. Let’s do this!