The Home Guarantee Scheme is an Australian Government Initiative to support eligible home buyers to buy a home sooner. This Scheme is backed by Housing Australia. You may be eligible for the First Home Guarantee Scheme or Family Guarantee Scheme.
35,000 places are available for FY2023-2024.
To apply for this, you must meet the following eligibility criteria
have a minimum of 5% deposit
apply as individual or 2 joint applicants
be an Australian citizen(s) or permanent resident(s) over 18 years
earn a taxable income of no more than $125K (individual) or $200K (joint applicants)
use the property as owner-occupied
first home buyers or previous homeowners who haven't owned a property in Australia in the past ten (10) years
The following residential property types can be used for this
existing house, townhouse or apartment
house & land package
land and a separate contract to build a home
off-the plan apartment or townhouse
How do I apply?
Book a discovery meeting with us At this meeting, you will meet your mortgage broker. We will learn more about you and your goals. This is an opportunity to advise us on what you are looking to achieve. Are you looking to buy an existing house, house & land package, or to construct a new dwelling?
We will conduct some assessment Following our initial consultation (discovery meeting) with you, we will carry out some assessment to assess your eligibility and loan options. At this stage, we will request some documents from you to help us complete our assessment
We will present our findings to you At the end of assessment, we will present you with the outcome and loan options specific to your requirements. We will walk you through the process including which guarantee scheme is best suited for your needs now and into the future.
Loan application and approval At the step, we will lodge the application on your behalf to your preferred lender with all supporting documents. We will provide progress update on the application and liaise with the lender for any further information. Following approval, you will have 90 days to purchase your home under the Home Guarantee Scheme.
Who are the participating lenders?
At the time of writing this post, there were 33 Participating Lenders authorised by Housing Australia to offer the Home Guarantee Scheme to home buyers. A number of these lenders are included in UZO Finance lender panel. For an updated list of Participating Lenders, please refer to Housing Australia website
What is the property price cap for FY 2023-2024?
State | Capital City and Regional Centre* | Rest of State |
NSW | $900,000 | $750,000 |
VIC | $800,000 | $650,000 |
QLD | $700,000 | $550,000 |
WA | $600,000 | $450,000 |
SA | $600,000 | $450,000 |
TAS | $600,000 | $450,000 |
Territory | All areas | |
ACT | $750,000 | |
NT Regional | $600,000 | |
Jervis Bay Territory & Norfolk Island | $550,000 | |
Christmas Island and Cocos (Keeling) Islands | $400,000 |
* Regional centres are Newcastle and Lake Macquarie, Illawarra, Geelong, Gold Coast and Sunshine Coast.
Regional First Home Buyer Guarantee Property Price Cap Table
The price caps for the RFHBG are listed in the table below.
State# | Regional Centre* | All other Regional Areas |
NSW | $900,000 | $750,000 |
VIC | $800,000 | $650,000 |
QLD | $700,000 | $550,000 |
WA | $450,000 | |
SA | $450,000 | |
TAS | $450,000 | |
Territory# | Regional area | |
ACT | Not applicable | |
NT Regional | $600,000 | |
Jervis Bay Territory & Norfolk Island | $550,000 | |
Christmas Island and Cocos (Keeling) Islands | $400,000 |
* Regional centres are Newcastle and Lake Macquarie, Illawarra, Geelong, Gold Coast and Sunshine Coast.
# The greater capital city areas of the States and the Northern Territory; and the entire Australian Capital Territory are excluded from the RFHBG.Â
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