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First Home Guarantee.

The First Home Guarantee (FHBG, previously known as the First Home Loan Deposit Scheme) has been expanded and will offer 35,000 places to eligible first home buyers each year from 1 July 2022.

What is the First Home Guarantee scheme?

The FHBG is an Australian Government initiative designed to help eligible first home buyers purchase their first home sooner.

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, avoiding the need to pay lenders mortgage insurance.

How does the First Home Guarantee work?

Eligible first home buyers, with a deposit as little as 5%, can apply for a loan 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?

35,000 First Home Guarantee places will be available each financial year from 1 July 2022.

What types of property can be purchased?

To be eligible a property must be a ‘residential property’.  Eligible residential properties include:

  • Existing house, townhouse or apartment
  • Off-the-plan apartment or townhouse
  • House and land package
  • Land and a separate contract to build a home

Contact a participating lender for more information.

Who is eligible?

To be eligible, you must meet the following criteria;

Australian citizen

  • You must be an Australian citizen at least 18 years of age. 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.


  • 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.

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.


  • You must be intending to occupy the home. 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 FHBG is used to purchase modest homes. Price thresholds vary between states and territories, and between capital cities and regional areas. 

Can the scheme be used with other government incentives?

Yes, FHBG 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:

Further information

Download the First Home Guarantee Fact Sheet or visit



Disclaimer: the above information has been sourced from  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 July 2022, 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.