Home Guarantee Scheme (HGS): Full Breakdown of Government Support

Christian Stevens, Mortgage Broker

Published January 31, 2025, 2:10 p.m ET

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🔑 Key Facts

What Is the Home Guarantee Scheme?

The HGS is a federal government initiative delivered by Housing Australia to help eligible Australians buy a home sooner.

It supports buyers who don’t have a 20% deposit by acting as a guarantor on part of the loan — which removes the need for costly LMI and opens the door to faster approvals.

There are three core schemes under the HGS:

  • First Home Guarantee (FHBG) – For eligible first home buyers with a 5% deposit
  • Family Home Guarantee (FHG) – For single parents with a 2% deposit
  • Regional First Home Buyer Guarantee (RFHBG) – For first-time buyers purchasing in regional areas with a 5% deposit

What Do These Schemes Help With?

Full ownership retained: The government does not own any share of your property

Who Is Eligible?

While each scheme has its own criteria, common requirements include:

  • Australian citizenship, aged 18+
  • First home buyer status (except FHG, which includes previous owners)
  • Income under $125,000 (single) or $200,000 (couple)
  • Owner-occupier intentions (not for investment)

Property Price Caps by Scheme

Each scheme includes maximum property value limits depending on your location. These vary by state and whether you’re buying metro or regional:

  • NSW Metro: $900,000
  • VIC Metro: $800,000
  • Regional: $500,000–$750,000 (scheme-dependent)

Check Housing Australia’s postcode lookup tool or talk to Flint for specific thresholds in your area.

Application Process

Things to Keep in Mind

📞 Unsure Which Guarantee Scheme You Qualify For?

At Flint, we make navigating the Home Guarantee Scheme easy:

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