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French Doors

Family Home

Guarantee  

Family Home Guarantee

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Overview

Family Home Guarantee

The Family Home Guarantee aims to support eligible single parents with at least one dependent child in purchasing a family home, regardless of whether that single parent is a first home buyer or a previous homeowner.

10,000 Family Home Guarantees will be made available over four financial years from 1 July 2021 to 30 June 2025.

Usually, first home buyers with less than a 20% deposit need to pay lenders' mortgage insurance.

Under this Scheme, part of an eligible first home buyer’s home loan from a Participating Lender will be guaranteed by NHFIC. This is aimed at enabling you to purchase your first home sooner with as little as a 2% deposit.

Any guarantee of your home loan is for up to a maximum amount of 18% of the value of your property (as assessed by your lender). This guarantee is not a cash payment or a deposit for your home loan.

View the Family Home Guarantee fact sheet to learn more.

Mother and Child
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