5% Low Deposit Home Loan - First Home Guarantee

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The First Home Guarantee scheme in Australia is a government initiative designed to help first-time homebuyers enter the property market by making it easier for them to secure a home loan. Under the scheme, the government guarantees a portion of the home loan, which can help reduce the deposit that borrowers need to save.

The scheme is available to eligible first-time buyers who have a deposit of at least 5% but less than 20% of the property's value. The government guarantee can cover up to 15% of the property's value, depending on the lender's requirements.

The First Home Guarantee scheme is limited to specific property price thresholds and income limits, and it's only available for owner-occupied homes, not for investment properties. The scheme has specific eligibility criteria and is subject to availability, so interested buyers should check with their broker to see if they are eligible.

Interested buyers who want to learn more about the First Home Guarantee scheme in Australia can visit the website of the National Housing Finance and Investment Corporation (NHFIC) at https://www.nhfic.gov.au/support-buy-home/first-home-guarantee for more information.

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