The Australian Government's Home Guarantee Scheme can be a lifeline for home buyers who find it challenging to save the conventional 20% deposit required to purchase a home.

The Scheme includes three types of Guarantees below. 

Achieve your dream of homeownership sooner!

With Home Guarantee Scheme, you have the opportunity to buy a home with a smaller deposit and avoid the burden of expensive Lenders' Mortgage Insurance. So, your dream of moving into your own home might be closer than you thought!

Compare key benefits and eligibility at a glance

  First Home Guarantee*2 Regional First Home Buyer Guarantee*2,3 Family Home Guarantee*1
How does it work Australian Government initiative to help eligible first home buyers.
Part of the home loan will be guaranteed by Housing Australia.
Australian Government initiative to help eligible home buyers purchase a home in a regional area.
Part of the home loan will be guaranteed by Housing Australia.
Australian Government initiative to support eligible single parents and single legal guardians with at least 1 dependent child in purchasing a home.
Part of the home loan will be guaranteed by Housing Australia.
Australian citizens or permanent residents5
Borrower eligibility Individual and joint applicants.6
Either first home buyers or previous homeowners who haven’t owned a property in Australia in the last 10 years.
Individual and joint applicants.6
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.
Single parents or single legal guardians who do not currently own a property or do not intend to ow5%n a separate property when they settle on a home.
Minimum deposit amount 5% 5% 2%
Minimum loan amount $150,000 $150,000 $150,000
Maximum loan to value ratio (LVR) - no LMI 95% 95% 98%
Fees and charges Waived Unity Bank establishment, valuation, settlement, and legal fees*
Government fees At cost At cost At cost
Offset account 100% offset - variable only
Redraw4 Yes Yes Yes
Additional repayments Variable - Yes
Fixed - up to $10,000 pa
Ability to split between fixed and variable Yes Yes Yes
Property price Caps Property price caps apply. Search the property price threshold for a suburb or postcode here.

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Listen to our podcast below where we discuss the benefits and common questions asked about the Home Guarantee Scheme**

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* Credit eligibility, Scheme eligibility, terms and conditions, additional fees & charges may apply. New loans only. Valuation fee waived for one property only. 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. Purchasers must be Australian citizens or permanent residents, at least 18 years of age, meet income caps and occupy the home as their principal place of residence. Target Market Determination available here. The information on this page is correct at the time of publishing but may change at any time without notice to you.

** Eligibility criteria terms and conditions apply to our Unity Bank Products and scheme eligibility applies to the Government Schemes. Fees & charges may apply. Any general advice or information on this podcast does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review our Disclosure Documents before acquiring any product. For full information on these options go to www.unitybank.com.au/explore-our-first-home-pathways.html. Unity Bank Limited. ABN 11 087 650 315. AFSL/Australian Credit Licence 240399


1. FHG is only available for eligible single natural or adoptive parents or eligible single legal guardians of at least one dependent, who do not own property on the date of loan execution. For more information click Family Home Guarantee (PDF).
2. FHBG and RFHBG are only available for first home buyers or previous home owners who haven’t owned a property in the ten years prior to the date they execute their home loan. For more information click First Home Guarantee (PDF) or Regional First Home Buyer Guarantee (PDF).
3. Regional area is defined by the Australian Bureau of Statistics as an Australian Statistical Geography Standard 2016 Statistical Area Level 4 (ASGS SA4 2016). The greater capital city areas of each state and the NT; and the entire ACT are excluded from the RFHBG. For more information click here.
4. Minimum redraw amount is $100 and the amount to cover one (1) repayment (whether that be monthly, fortnightly or weekly) must be left in advance.
5. For Home Guarantee Scheme, permanent residents include New Zealand citizens for the purposes of citizenship applications only.
6. Joint applicants may include partners, friends, siblings, and other family members.