First Home Guarantee
As a new homeowner, we want you to focus on the important things. For some, understanding where you stand as a future homeowner and what Grants you might be eligible for can be confusing.
The First Home Guarantee is a Government Scheme to help eligible first-time homeowners own their new home sooner.
How does the First Home Guarantee work?
The First Home Guarantee, formerly know as the First Home Loan Deposit Scheme, provides a guarantee that will allow future homeowners with a deposit as little as 5% to purchase a home without needing to pay Lender’s Mortgage Insurance (LMI).
Who can apply for the First Home Guarantee?
From 1 July 2023 to 30 June 2024, there are 35,000 spots available for first time homeowners to use the First Home Guarantee.
As a Federal Government Initiative, the eligibility criteria is the same across Australia. The only criteria that varies across each States and Territory is the property threshold amount. To access more information on the property thresholds in your area of interest, please contact QPG.
First time homebuyers or previous homeowners who haven’t owned a property in Australia in the past 10 years.
Can apply individually or 2 joint applicants. Applicants do not need to be defacto or married.
You must be an Australian Citizen or Permanent Resident.
How do you apply?
As the First Home Guarantee is an exclusive Government Initiative, it’s important to receive an assessment on your current situation and be referred to a Broker that can assist with the participating lenders. To learn more or be connected with a Broker that can assist with the First Home Guarantee, you may:
Own your home sooner with the First Home Guarantee
If you haven’t found answers on this website to questions about first home buyer assistance and how to apply, contact us. Alternatively, if you’re ready, register your interest now!