Support to Buy a Home

Help to Buy

The Federal Government introduced legislation into the Commonwealth Parliament to establish the Help to Buy Program that will be administered by Housing Australia. The Program has not commenced. 

The Government announcement is available at Delivering more help for Australian home buyers | Treasury Ministers

The Home Guarantee Scheme (HGS)

The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by the Housing Australia on behalf of the Australian Government.

The Scheme includes three types of Guarantees:  

  • First Home Guarantee (FHBG) – supporting eligible home buyers to buy a home sooner, with a deposit as little as 5%. For FY2023-24, 35,000 places are available.
  • Regional First Home Buyer Guarantee (RFHBG) – supporting eligible regional home buyers to buy a home sooner, in a regional area, with a deposit as little as 5%. For FY2023-24, 10,000 places are available.
  • Family Home Guarantee (FHG) – supporting eligible single parents and eligible single legal guardians of at least one dependent to buy a home sooner, with a deposit as little as 2%. For FY2023-24, 5,000 places are available.

The New Home Guarantee (NHG) is no longer available. A NHG place reserved on, or before 30 June 2022, will still be able to progress to settlement, subject to meeting eligibility criteria and NHG requirements and timelines. 

  • There are still places available for the current 2023-24 financial year that can be secured through a Participating Lender.
  • The Scheme will continue in the 2024-25 financial year. Housing Australia will make an announcement regarding the new places on 1 July 2024.
  • Please note the relevant Notice of Assessment (NOA) that your lender will require to validate your eligibility for a HGS Guarantee.
    • For reservation for a Scheme Place made by a Participating Lender on or before 30 June 2024, the 2022-23 NOA will be required. A Guarantee can be issued (and settlement occur after this date, subject to all other criteria being met).
    • For reservations for a Scheme Place made by a Participating Lender on or after 1 July 2024, the 2023-24 NOA will be required. A Participating Lender can provide a 90 day expiry period whilst the NOA is being obtained however will be required prior to any Guarantee being issued and settlement occurring.  


How the HGS works

Housing Australia works with Participating Lenders to facilitate loans to eligible home buyers who meet income eligibility thresholds and other eligibility criteria and don’t have the 20% deposit typically required for a home loan.

Eligible home buyers can apply for a loan through a Participating Lender who has been authorised by Housing Australia to participate in the HGS. 

Housing Australia provides a Guarantee to the Participating Lender of up to 15% of the value of a home loan under the First Home Guarantee or the Regional First Home Buyer Guarantee; and up to 18% under the Family Home Guarantee. This enables the home buyer to buy a home without paying Lenders Mortgage Insurance. The Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.

Housing Australia has authorised a panel of 32 Participating Lenders to offer the HGS.