Family Home Guarantee

Are you eligible?

To qualify for the Family Home Guarantee, you need to meet eligibility criteria relating to your personal circumstances that include the following:

• Single parent / single legal guardian - of one or more dependent children
• Citizenship and permanent residency - be an Australian citizen or permanent resident at the Home Loan Date*
• Income - taxable income must be at or below the income cap - $125,000 as shown in the Notice of Assessment (NOA) for the previous financial year, issued by the Australian Taxation Office (ATO)
• Deposit - must have minimum deposit savings of 2% of the Property Value
• Prior property ownership - you must be a home buyer who currently doesn't own property or not have any other property interest once your new home settles
• Owner-occupier - you must buy or build a home to live in (investment properties are not eligible), that is priced and valued at or below the locations price cap
• Minimum age - you must be at least 18 years old.

What is a single parent or single legal guardian?

To be eligible for the Family Home Guarantee, you need to be:

• single, which means you don’t have a spouse and/or a de facto partner. If you are separated but not divorced, you are not considered single; and
• the natural parent or adoptive parent or legal guardian of one or more dependents.

What is a dependent child?

Under the Family Home Guarantee, a dependent child can be one of the following:

• a person aged 16 years or older, who lives with you and receives a disability support pension (as defined in the Social Security Act 1991)
• a “dependent child” (as defined in sections (2), (3), (4), (5), (6), and (7) of Section 5 of the Social Security Act 1991) where:
  • they are under the age of 16, live with you, and you are legally responsible (part or full-time) for their day-to-day care, welfare and development; or
  • they are between 16 and 22 years old, live with you, and are wholly or substantially dependent on you, and their financial year income is no more than $14,370.55 (effective 1 January 2025).

Check your eligibility

To help you work out if you are eligible for the Family Home Guarantee, use the Eligibility Tool for a quick check of the main eligibility criteria. The tool is only a guide and your Participating Lender will confirm your eligibility.

What type of home can you buy?

You can buy a new or existing residential property below the price cap for the location.

Check the property price caps

Use the Postcode Search Tool to check the price cap for the location you want to buy in. The tool is only a guide - confirm the price cap with your Participating Lender for any property you are considering buying.

Note both the purchase price and the Property Value must not exceed the price cap. For new builds with vacant land and a separate contract to build a home, the combined land purchase price and build cost must be equal to or under the price cap.

What type of home loan do you need?

You will need a home loan from a Home Guarantee Scheme Participating Lender, that meets certain requirements including that it is:

• an owner-occupier home loan
• requires regular Principal and Interest repayments (with limited exceptions for interest-only loans)
• has a term of up to 30 years (plus up to three years to build a new home).