Support to buy a home
Schemes comparison table
View the table below for a brief overview of the key differences between the three Schemes.
Please note that this table is provided as a guide only and does not mean that you will receive either a guarantee or a loan from a Participating Lender.
View an overview of the property price caps applicable for eligible properties purchased under the First Home Loan Deposit Scheme, New Home Guarantee or Family Home Guarantee.
| First Home Loan Deposit Scheme | New Home Guarantee | Family Home Guarantee | |
| Minimum deposit | 5% | 5% | 2% |
| Property type | New and existing homes 1 |
Building or purchasing new homes |
New and existing homes 1 |
| Number of places |
10,000 places from 1 July 2021 to 30 June 2022 |
10,000 places from 1 July 2021 to 30 June 2022 |
10,000 places from 1 July 2021 to 30 June 2025 |
|
Borrower eligibility |
Single and couple2 applicants | Single and couple2 applicants | Single parent with at least one dependent child |
| Purchasing history | Must be first home buyers |
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 each of the Schemes, and Participating Lenders can assist if there is any doubt.
- Couples are only eligible for the First Home Loan Deposit Scheme or the New Home Guarantee if they are married or in a de-facto relationship with each other. Other persons buying together, including siblings, parent/child or friends, are not eligible for these Schemes.
- Applicants can be either first home buyers or previous owners who do not currently own a home. That is, the 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.