The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme. The purpose of the First Home Guarantee is to support eligible home buyers to enter the housing market sooner. It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value.

Please visit our dedicated First Home Guarantee (FHBG) page or speak with one of our Home Loan Advisers.

The Australian Government has introduced the First Home Guarantee (FHBG) to assist eligible first home buyers to purchase a home sooner. It does this by providing a guarantee to participating lenders that will allow eligible first home buyers to purchase a home with a deposit of as little as 5%, and the additional benefit of not having to save for Lenders Mortgage Insurance (LMI). 

You can check your potential eligibility on the Housing Australia website.

Visit the Housing Australia website to use the Property Price Cap Tool – a postcode search tool to help home buyers determine the property price caps for the suburb they are purchasing in.

No. The First Home Guarantee (FHBG) allows eligible home buyers with deposits as low as 5% to get a home loan without paying Lenders Mortgage Insurance (LMI) fees.

Maximum purchase prices (property price caps set by Government legislation) are applicable for eligible properties purchased under the Home Guarantee Scheme. You can find them on the Housing Australia website. 

• Completed and signed application form – including signed privacy declaration; 
• Needs Analysis; 
• Verification of income and expenses – payslips etc; 
• Evidence of 5% genuine savings; 
• Evidence of funds to complete the transaction – savings plan/gift from family; 
• Signed Home Buyer Declaration (Statutory Declaration) – Peoples Choice will provide this to you.