Are you a single parent or legal guardian? The Family Home Guarantee is here to help you. It is a government program to help you buy a family home sooner.

This great scheme lets you buy a home with as little as a 2% deposit. The government guarantees up to 18% of the property’s value. This means you do not have to pay for Lender’s Mortgage Insurance (LMI).

We are a participating lender. We are ready to help you and your family find a home.

Am I Eligible for the Family Home Guarantee?

You must meet these rules to be eligible:

  • You must be a single parent or legal guardian. You need to have at least one child. This now includes aunts, uncles, and grandparents.
  • You must be an Australian citizen or permanent resident. You need to be at least 18 years old.
  • Your taxable income cannot be more than $125,000. (Child support is not included).
  • You must have a deposit of at least 2%. The deposit cannot exceed 20%.
  • Only your name can be on the loan and the property title.
  • You must plan to live in the home.
  • You can be a first home buyer or a previous homeowner who does not own a home now.

You must also meet our lending rules and be able to afford the loan.

How Does the Family Home Guarantee Work?

Here is a simple look at how the scheme works:

Ready to Apply?

The process is simple, and we are here to help.

  1. Check Your Eligibility: Use the Housing Australia eligibility tool to see if you qualify.
  2. Confirm Property Price Caps: Price caps apply and are different for each area. You can check the price cap for your location using the Housing Australia tool.
  3. Chat to Us: We will have a chat to make sure you can afford the loan and meet our rules.
  4. Submit Your Application: We will help you with all the documents and the application. For more information, see our Home Loan Documents Checklist.
  5. Buy Your Home: After approval, you will have 90 days to buy your new home.

Don’t let a small deposit stop you. The Family Home Guarantee is a great way to buy a home.

Enquire online now or call us to find out if you are eligible. Start your home ownership journey today!

Contact EZ Mortgage Broker (Mortgage Broker Online Pty Ltd, ABN: 28 657 661 615, Credit Rep No. : 538522, AFG Accredited Member, ACL:389087)

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