First Home Guarantee

Supporting eligible first home buyers purchase a home sooner.

Guarantee overview


Minimum deposit required

35,000 places

Number of places FY2022-23

Must be first home buyers

Purchasing history

New and existing homes

Property type

Single and couple applicants

Borrower eligibility

Maximum purchase prices apply

The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible first home buyers purchase a home sooner. It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government. 

Under the FHBG, part of an eligible first home buyer’s home loan from a Participating Lender is guaranteed by NHFIC. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance. 

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. 

From 1 July 2022 – 30 June 2023, 35,000 FHBG places are available to eligible first home buyers. 


To apply for the FHBG, home buyers must be:  

  • applying as an individual or couple (married / de facto)  
  • an Australian citizen(s) at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for couples, as shown on the Notice of Assessment (issued by the Australian Taxation Office) 
  • intending to be owner-occupiers of the purchased property  
  • first home buyers who have not previously owned, or had an interest in, a property in Australia. 

Access the Eligibility Tool – a short questionnaire to help home buyers identify which Guarantee/s they may be eligible for. 

Contact a Participating Lender for more information, including the full list of eligibility criteria. 

Property types and price caps

Under the FHBG, home buyers can purchase a residential property, including: 

  • an existing house, townhouse or apartment 
  • a house and land package
  • land and a separate contract to build a home 
  • an off-the-plan apartment or townhouse.

Use the Property Price Cap Tool to look up the property price caps for each location. 

Specific timeframes and criteria apply to the different property types. The contract of sale and (if applicable) eligible building contract may have to be executed by specific dates.

Contact a Participating Lender for more information, including the full list of property criteria. 

How to apply

Applications can only be made with a Participating Lender or their authorised representative (a mortgage broker). NHFIC does not accept applications for the HGS or provide personal financial advice. 

Home buyers (and those advising them) should consider consulting with a Participating Lender, and seeking independent financial and legal advice about whether a particular home loan or property, and the terms of the HGS suit personal circumstances and objectives. 

Before entering into a home loan agreement, home buyers should consider talking with their lender (or broker) about the potential implications of changing interest rates or house prices on individual circumstances.  

Participating Lenders

NHFIC has authorised a panel of 32 Participating Lenders to offer the HGS to home buyers.

Deposit required

Home buyers applying for the FHBG need to have between 5% and 20% of the value of an eligible property saved as a deposit. The minimum deposit required for the FHBG is 5%, but Participating Lenders may require a higher percentage deposit based on individual financial circumstances.  

Home buyers should speak with a Participating Lender to find out whether a deposit is made up of genuine savings for the purposes of their lending criteria and the FHBG.  

Home buyers should confirm with their Participating Lender whether any cash grants received under other Australian Government, State or Territory schemes or programs can be considered as part of their genuine savings. 

Contact a Participating Lender for more information and to discuss individual circumstances. 

Notice of Assessment (NOA)

The HGS includes an income test, which is assessed by lenders using a Notice of Assessment (NOA).  

Once your tax return has been processed, the Australian Taxation Office (ATO) sends a statement called the Notice of Assessment to your myGov Inbox.  

For HGS reservations made from 1 July 2022 to 30 June 2023, the relevant Notice of Assessment is the 2021-2022 financial year. NHFIC advises applicants to speak to their Participating Lender to understand the risk of signing a Contract of Sale prior to obtaining the latest Notice of Assessment. 

Contact the ATO for more information about Tax Time 2022

Need help?

Questions or queries

Please contact a Participating Lender if you have questions or would like to apply for a Scheme place. NHFIC does not accept, assess, approve or maintain waitlists for any Scheme place applications.

If your question is not resolved, contact NHFIC.

Frequently Asked Questions

Search our Frequently Asked Questions database for general information about the Home Guarantee Scheme.