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10,000 New Home Guarantee places

In May 2021, the Australian Government announced the temporary extension of the New Home Guarantee. An additional 10,000 New Home Guarantee places will be available from 1 July 2021 until 30 June 2022.

What is the New Home Guarantee?

The New Home Guarantee will provide an additional 10,000 places, under the First Home Loan Deposit Scheme (New Homes), specifically for eligible first home buyers building or purchasing a new home.

Under the Scheme, the government provides a guarantee helping eligible first home buyers purchase or build a new home, with a deposit as low as 5 percent, without the need to pay for lenders mortgage insurance.

How does the New Home Guarantee work?

Eligible first home buyers can apply for a loan (with a deposit as little as 5%) with a participating lender.  Up to 15% of the value of the property, or the balance of the remaining 20% deposit, will be guaranteed by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the government.  The guarantee is not a cash payment or deposit for a home loan.

How many people can get assistance?

10,000 New Home Guarantee places will be available from 1 July 2021 until 30 June 2022.

What types of property can be purchased?

Eligible New Home Guarantee properties include:

  • Newly-constructed dwellings
  • Off-the-plan dwellings
  • House and land packages
  • Land and a separate contract to build a home

Contact a participating lender for more information.

Who is eligible?

Complete the following check list to see if you may be eligible;

Australian citizen ☑

  • You must be an Australian citizen. Permanent residents are not eligible. If you’re applying under the Scheme as part of a couple, then you will both need to be Australian citizens and both be first home buyers.

Income ☑

  • Singles can earn up to $125,000 per annum and couples can earn a combined taxable income of $200,000 per annum.

Prior property ownership ☑

  • The scheme is only in place to assist genuine first home buyers.  You won’t be eligible for the Scheme if you have previously owned or had an interest in a property in Australia.

Age ☑

  • You must be 18 years of age or over at the time you enter into a home loan with your participating lender.

Existing deposit ☑

  • Singles, or married or de-facto couples (together) must have saved a deposit equal to at least 5% (but less than 20%) of the value of an eligible property.

Owner-occupier ☑

  • You must be intending to occupy the home as investment properties are not supported by the Scheme.  If you don’t live in your property, or if you move out, your home loan will no longer be guaranteed by the Scheme. 

Is there a property price threshold?

Yes, property price thresholds have been set to ensure that the New Home Guarantee is used to purchase modest homes. Price thresholds for the New Home Guarantee differ from the main First Home Loan Deposit Scheme and the new Family Home Guarantee. Price thresholds also vary between states and territories, and between capital cities and regional areas.  Visit the NHFIC website to find out more.

Can the scheme be used with other government incentives?

Yes, the New Home Guarantee can be used in conjunction with existing incentives such as the First Home Super Saver Scheme, the First Home Owners Grant and stamp duty concessions.  For more information about available incentives in your state visit:

First Home Loan Deposit Scheme

The New Home Guarantee places are in addition to the existing First Home Loan Deposit Scheme (FHLDS) and the new Family Home Guarantee.

Further information

Download the New Home Guarantee Fact Sheet here.

For more information about the New Home Guarantee and the FHLDS, visit http://www.nhfic.gov.au


The above information has been sourced from www.nhfic.gov.au.  Interested parties should seek their own financial advice and make their own investigations as to eligibility for concessions, rebates, exemptions, and grants. Information is correct as of June 2021, but is subject to change and no warranty, express or implied, is given as to its accuracy. AVJennings disclaims liability for any loss, damage or claim of whatever nature or kind (including negligence) incurred by any party which arises out of any alleged reliance on this article. ® Registered Trademark. © AVJennings Properties Limited. ABN 50 004 601 503. NSW Builders Licence 39168C, QLD Builders Licence No QBCC41712, VIC Builders Licence CDB-U 57318, SA Builders Licence BLD56537.