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.
Applications for the FHBG can be made directly with a Participating Lender or their authorised representative (a mortgage broker).
NHFIC does not accept, assess, approve or maintain waitlists for any Guarantee place applications.
The FHBG 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 Scheme reservations made from 1 July 2022 to 30 June 2023, the relevant Notice of Assessment is the 2021-2022 financial year. From 1 July 2022 to 31 August 2022, NHFIC will provide a grace period to all participating lenders so that they can progress to the scheme pre-approval without the latest Notice of Assessment (NOA). However, the 2021-2022 NOA is still required prior to the issuance of a Guarantee Certificate so home buyers are encouraged to lodge their tax return as soon as possible.
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.
For more information about Tax Time 2022, please contact the Australian Taxation Office.
The eligibility checker is a short questionnaire to assist home buyers to identify which Guarantee may be applicable.
To apply for the FHBG, applicants must be:
For more information, including full eligibility criteria, contact a Participating Lender.
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 their 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.
Applicants need to have between 5% and 20% of the value of an eligible property saved as a deposit.
View the relevant property price caps for each location.
The minimum deposit required by 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.
Applicants should confirm with their lender if any cash grants received under other Australian Government, State or Territory schemes or programs can be considered as part of their genuine savings.
For more information and to discuss individual circumstances, contact a Participating Lender.
Learn more about the FHBG
Read the information guide for more details about the FHBG
Find answers to common questions