This includes both the Family Home Guarantee Scheme and its New Home Guarantee Scheme - geared at helping single-parent families and first home buyers respectively.

The government said it will reissue its unused guarantees to help first home buyers and single-parents buy homes with deposits as little as five and two percent respectively.

Up to 4,651 unused guarantees from the 2020/21 financial year will be available to buyers who haven't yet had an opportunity to purchase their first home.

This means that of the 20,000 spots that were available, almost a quarter of recipients were unsuccessful in finding a home.

This is greater than the last reissue, in which 18% of First Home Loan Deposit Scheme spots went unused.

Prime Minister Scott Morrison said that the government wants more first home buyers to get into the place of their dreams.

"The pandemic and lockdowns have interrupted the plans of many home buyers this year, so this is about ensuring we give thousands more families the opportunity they need," Mr Morrison said.

"We want to help Australians into their first home or a home that they've had built for them and their family, and with our support first home buyers are at their highest level in nearly 15 years."

Shadow Minister for Housing and Homelessness, Jason Clare, said that suggesting an extra 4,651 home buyers would benefit is taking 'regifting at Christmas to a new level'.

"These aren't new places - these are places out of the originally announced 20,000 cap for the year - regifted," Mr Clare told Savings.com.au.

"It’s harder to buy in Australia than ever before. Australians need more help to buy a home, not more lies from Scott Morrison."

Housing Minister Michael Sukkar said more than 300,000 Australians have been helped into home ownership through coupling the HomeBuilder and the first home super saver scheme.

This includes more than 60,000 Australians that have been assisted by the Home Guarantee Scheme.

"The Morrison government will continue to provide Australians who have that aspiration to go and buy a home, the opportunity to go and achieve that," Mr Sukkar said.

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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.

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Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.54% p.a.
5.58% p.a.
$2,852
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.49% p.a.
5.40% p.a.
$2,836
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • 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.
 Disclosure
5.64% p.a.
5.89% p.a.
$2,883
Principal & Interest
Variable
$250
$250
60%
  • 100% offset
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Offset
  • Redraw
  • More details
  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
 Disclosure
5.64% p.a.
5.89% p.a.
$2,883
Principal & Interest
Variable
$248
$350
60%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Offset
  • Redraw
  • More details
  • Check your eligibility in as little as one minute
 Disclosure
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.

Important Information and Comparison Rate Warning
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