Key differences between the Guarantees to support you to buy a home

The Scheme comparison table outlines the key differences between the First Home Guarantee (FHBG) and Family Home Guarantee (FHG).

The comparison table is provided as a guide and does not confirm that an applicant will secure a Guarantee or loan from a Participating Lender.

The Scheme places noted in the comparison table are for the 2022-23 financial year.

	First Home Guarantee	Family Home Guarantee
Minimum deposit	5%	2%
Property type	New and existing homes¹	New and existing homes¹
Number of places	35,000 places from 1 July 2022 to 30 June 2023	5,000 places from 1 July 2022 to 30 June 2023
Borrower eligibility	Single and couple² applicants	Single parent with at least one dependent child
Purchasing history	Must be first home buyers	First home buyers or previous home owners³

For a property to be eligible it must be a 'residential property' - this term has a particular meaning under the Home Guarantee Scheme. Contact a Participating Lender for more information or to discuss your personal circumstances.
Couples are only eligible for the First Home Guarantee (FHBG) if they are married or in a de-facto relationship. Other persons buying together, including siblings, parent/child or friends, are not eligible.
Applicants can be either first home buyers or previous owners who do not currently own a home. An applicant must not currently have a freehold interest in real property in Australia, a lease of land in Australia or a company title interest in land in Australia.

Support to buy a home