The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.
Under the FHBG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to buy a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
For the FHBG, any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.
From 1 July 2024 –30 June 2025, 35,000 FHBG places are available.
For more information on how this scheme could assist you, or are eligible with buying your first home. Book an appointment to come and see Jarrod by emailing jarrod@wealthcreation.com.au or Martin at martin@wealthcreation.com.au.
