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Overview
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Family Home Guarantee
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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.
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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.
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