Available until June 2025, the guarantee has 5,000 application spots up for grabs each financial year for single parents or guardians with as little as a 2% deposit.

What is the Family Home Guarantee?

The Family Home Guarantee is a component of the government’s Home Guarantee Scheme, designed to help support eligible single parents or guardians with at least one dependent child purchase a home sooner.

It is administered by Housing Australia (formerly the National Housing Finance and Investment Corporation) on behalf of the Australian Government. 

Under the scheme, 5,000 guarantees will be made available each financial year to help single parents or guardians purchase a property with as little as a 2% deposit without having to pay lenders mortgage insurance (LMI). This means you can borrow up to 98% of the property’s value.

Eligible participants can either be a first home buyer or a previous owner-occupier and must pay principal & interest (P&I), and take out a loan no longer than 30 years.  

The Family Home Guarantee can be used to build a new home or purchase an existing property.

Family Home Guarantee price caps

For single parents or guardians looking to take advantage of the scheme, there are property price caps to be aware of. Ultimately, the cap depends on which state or territory you live in and the regional area within the states. The table below shows just how much you can spend on a first home in specific regions to be eligible to receive the Family Home Guarantee.

State Capital City & Regional Centres Rest of State
New South Wales $900,000 $750,000
Victoria $800,000 $650,000
Queensland $700,000 $550,000
Western Australia $600,000 $450,000
South Australia $600,000 $450,000
Tasmania $600,000 $450,000
Australian Capital Territory $750,000
Northern Territory $600,000
Jervis Bay Territory and Norfolk Island $550,000
Christmas Island and Cocos (Keeling) Islands $400,000

Source: National Housing Finance & Investment Corporation 

*Regional centres are Newcastle and Lake Macquarie, Illawarra, Geelong, Gold Coast, and Sunshine Coast.

Family Home Guarantee eligibility

To be eligible, single parents or legal guardians must show (for the purposes of the Social Security Act 1991) that they are legally responsible for the day-to-day care, welfare, and development of the dependent child, and that the dependent child is in their care.

To qualify for this federal government scheme, you will need to:

  • Be an Australian citizen or permanent resident aged over 18 years.

  • Be single and a natural or adoptive parent or a legal guardian with at least one dependent child living with you. A person is considered single if they don’t have a spouse or de factor partner.

  • Have earned $125,000 or less last financial year.

  • Have at least a 2% deposit and not more than 20%.

  • Plan to live in the property you’re buying and only own the one property upon settlement.

Eligible properties

Under the Family Home Guarantee, a property must be a ‘residential property’ to be considered eligible. This includes

  • an existing house, townhouse or apartment  

  • a house and land package  

  • land and a separate contract to build a home  

  • an off-the-plan apartment or townhouse 

Before taking up any of these guarantees, home buyers should discuss their individual circumstances with a participating lender.  

Participating lenders 

  • Commonwealth Bank

  • NAB

  • Westpac

  • RAMS

  • BankSA

  • Bank of Melbourne

  • St George
  • Australian Military Bank

  • Australian Mutual Bank

  • Auswide Bank

  • Bank Australia

  • Bank First

  • Bank of Heritage Isle

  • Bank of Us

  • bcu

  • Bendigo Bank

  • Beyond Bank Australia

  • Border Bank

  • Community First Credit Union

  • Credit Union SA

  • Defence Bank

  • Firefighters Mutual Bank

  • G&C Mutual Bank

  • Gateway Bank

  • Great Southern Bank

  • Health Professionals Bank

  • Indigenous Business Australia

  • Illawarra Credit Union

  • IMB Bank

  • Mortgageport

  • Newcastle Permanent Building Society 

  • P&N Bank

  • People First Bank (formerly People's Choice, renamed following its merger with Heritage Bank)

  • Police Bank


  • Queensland Country Bank

  • Regional Australia Bank

  • Teachers Mutual Bank

  • The Mutual Bank

  • UniBank

  • Unity Bank Limited 

  • WAW


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

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