Saving a deposit is one of the biggest hurdles first home buyers face. Between rent, rising living costs and the pressure to save tens of thousands of dollars, it can feel like you are constantly chasing a moving target. For many people, the deposit is the part that holds them back, not the repayments.
The first home guarantee gives buyers a realistic pathway into the market sooner without needing a full 20 percent deposit. If you have been feeling overwhelmed or unsure how you will ever save enough, this scheme might be the opportunity that finally gets you into your first home
The video explains how challenging it can feel to save a deposit for your first home and highlights why the first home guarantee is such a helpful option. It shows that many first home buyers spend years trying to reach a full 20 percent deposit only to watch prices rise faster than they can save. The message is simple and encouraging. You may not need a huge deposit to get started and the scheme can help you buy sooner by allowing eligible buyers to purchase with a smaller deposit and without paying lenders mortgage insurance. It is a reminder that buying your first home might be more achievable than you think.
Instead of saving eighty to one hundred and twenty thousand dollars for a 20 percent deposit, many buyers can now get started with a much smaller amount. This can bring your buying timeline forward by years.
Lenders mortgage insurance can cost thousands of dollars. With the scheme, that cost disappears and more of your savings stay with you.
While you are saving, property prices continue to move. The scheme helps you get in earlier before the gap widens.
Even with the scheme, navigating the process alone can feel overwhelming. When you work with us, you receive guidance on eligibility and income thresholds, access to participating lenders, support preparing your documents, a clear understanding of your borrowing capacity and ongoing help before, during and after your loan settles. There is no pressure, no obligation and no cost to you because the lender pays the fee.
No. You can buy with as little as 5 percent without paying LMI.
No. Existing homes are eligible depending on your area’s price cap.
Yes. Places are limited each financial year
Yes. Singles and couples can both apply.
Absolutely. First‑home buyers often benefit the most because they receive guidance at every stage.
Ready to start your lending journey? Fill out the form below and our expert team will contact you within one business day.
