First Home Guarantee

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.

All applicants can be first home buyers or must not have owned or had an interest in residential property (whether as an investment or owner occupied) in the past 10 years.

Individual applicants must have earned less than $125,000 or $200,000 for joint applicants in the last financial year (as evidenced on your ATO Notice of Assessment).

All applicants must be at least 18 years of age and have a valid Medicare card (or Defence ID).

All applicants must be Australian citizens or permanent residents with either a valid Australian passport, proof of Australian citizenship or proof of Permanent Residency.

Applicants must have a deposit of between 5 per cent and 20 per cent of the property’s value.

Applicants need to be owner occupiers of the purchased property. FHBG does not support investment properties.

Your purchased property must be an acceptable property type and within the property price threshold for the suburb and postcode. You can check the property price cap for your area on Housing Australia.

With a home loan under the FHBG, you’ll need to make scheduled repayments of the principal and interest of the loan for the full loan term. Limited exceptions are available for interest-only loans, relating mainly to construction lending.

The loan agreement must have a principal and interest term of no more than 30 years.