Compare the eligibility criteria for our home pathways below.

Click here for more information on the home pathways.

If you are a single parent or single legal guardian of at least one dependent, please click here to find out more.

Eligibility Criteria

   
    Home Guarantee Scheme*5  
  Victorian Homebuyer Fund*4 First Home Guarantee
(FHBG)
Regional First Home Buyer Guarantee (RFHBG) Family Home Guarantee
(FHG)
First Home Buyer Advantage Plus and Government Scheme Lending*6
Who is eligible?

Australian or New Zealand citizens or permanent Australian residents7

Australian citizens or permanent residents7

Individual or joint applicants8

Either first home buyers or previous homeowners who haven’t owned a property in Australia in the last 10 years

Australian citizens or permanent residents7

Individual or joint applicants8

Either first home buyers or previous homeowners who haven’t owned a property in Australia in the last 10 years

At least one borrower must have lived in the regional area or adjacent regional area for the previous 12 months

Australian citizens or permanent residents7

Single parents or single legal guardians who do not currently own a property or do not intend to own a separate property when they settle on the home

Australian citizens or permanent residents7

First home buyers

Purchase location Victoria only Australia-wide Australia-wide Australia-wide Australia-wide
Minimum deposit 5% for eligible applicants, 3.5% for eligible Aboriginal and Torres Strait Islander applicants 5% 5% 2% 5%
Income threshold Up to $135,155 for individuals (excluding single parents) and $216,245 for single parents and joint applicants Up to $125,000 for singles and $200,000 for couples Up to $125,000 for singles and $200,000 for couples Up to $125,000 N/A
Property price caps Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. No

 Key benefits

   
    Home Guarantee Scheme*5  
  Victorian Homebuyer Fund*4 First Home Guarantee
(FHBG)
Regional First Home Buyer Guarantee (RFHBG) Family Home Guarantee
(FHG)
First Home Buyer Advantage Plus and Government Scheme Lending*6
Variable rates

From 5.99% p.a. (Comparison Rate 5.99% p.a. )

Owner Occupied | Principal & Interest | LVR<60%

Fixed rates

From 5.54% p.a. (Comparison Rate 6.82% p.a. )

Owner Occupied | Principal & Interest | Fixed 3 Years

Government’s contribution to equity Yes, up to 25% for eligible applicants, 35% for eligible Aboriginal and Torres Strait Islander applicants in exchange for an equivalent share in the property No No No No
Avoid Lenders Mortgage Insurance (LMI) Yes, minimum 5% deposit required for eligible applicants, 3.5% for eligible Aboriginal and Torres Strait Islander applicants Yes, minimum 5% deposit required Yes, minimum 5% deposit required Yes, minimum 2% deposit required Yes if 20% deposit or with limited Parental  Guarantee
Option of third party guarantee to avoid/reduce LMI No No No No Yes6
Annual fee Waived Waived Waived Waived Waived
Establishment fee Waived Waived Waived Waived Waived
Settlement fee Waived Waived Waived Waived Waived
Valuation fee Waived - for one property only Waived - for one property only Waived - for one property only Waived - for one property only Waived - for one property only. For construction loans, valuation fee for progress payments apply.
Unity Bank legal fee Waived Waived Waived Waived Waived

 

Home Loan calculators

Use our Home Loan calculators to determine the amount you can borrow and monthly repayment amounts.

Submit an enquiry today!

  • 1 Only available for First Home Buyers, Housing Australia and the Victorian Homebuyer Fund. Minimum home loan balance $150,000. Not available for internal product switches. Maximum loan period 30 years. Interest rate calculated daily charged monthly. Loan to Value Ratio (LVR), is the ratio of money you borrow compared to the value of the property used as security, as determined by the Bank.
  • 2 Comparison Rate is calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. WARNING: These Comparison Rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different Comparison Rate. Comparison rates for Variable Interest Only loans are based on an initial 5 year Interest only period. Comparison rates for Fixed Interest Only loans are based on an initial Interest Only period equal in length to the fixed period. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan. Interest rates are on a per annum basis.
  • 3 Only available for First Home Buyers, Housing Australia and the Victorian Homebuyer Fund. Minimum home loan balance $150,000. Not available for internal product switches. Maximum loan period 30 years. Interest rate calculated daily charged monthly. After fixed period interest rate reverts to First Home Buyer Advantage Plus and Government Scheme Lending standard variable rate.

4 Unity Bank is a participating lender for the Victorian Homebuyer Fund,  an initiative of the Victorian Government under which the Government contributes up to 25%  (up to 35% for Aboriginal and Torres Strait Islanders) of the price of the property for eligible applicants buying eligible properties, in exchange for an equivalent interest in the property secured by a 2nd mortgage, and Unity Bank lends the balance purchase price, less the deposit, secured by a 1st mortgage. Terms and conditions, fees and charges, Scheme eligibility criteria and lending criteria apply. Full details available on application. All information is correct as at 18 November 2024 and subject to change. Target Market Determination available here.

5 Unity Bank is authorised to offer the Australian Government’s Home Guarantee Scheme, under which the Government guarantees up to 15% of the value of the property (FHBG and RFHBG) and up to 18% for FHG. The Guarantees are not cash payments or deposits for your home loan. For more information click First Home Guarantee (PDF), Family Home Guarantee (PDF) and Regional First Home Buyer Guarantee (PDF). Target Market Determination available here.

6 Only available for first home buyers. Minimum home loan balance $150,000. Maximum loan period 30 years. Interest rate calculated daily charged monthly. For third party guarantees, credit eligibility applies to guarantor and guarantor must grant Unity Bank a mortgage over their property as security.

7 For the Victorian Homebuyer Fund and Home Guarantee Scheme, permanent residents include New Zealand citizens.

8 Joint applicants may include partners, friends, siblings, and other family members.

* Credit eligibility, terms and conditions, additional fees & charges may apply. New loans only. Valuation fee waived for one property only.

All information including interest rate is subject to change.