How it Works:

  • Eligibility: You must be a first home buyer who hasn't owned a home in the past 10 years.
  • You must be an Australian citizen or approved migrant.
  • Deposit: You save a minimum 5% deposit. 
  • Government Guarantee: Housing Australia provides a guarantee to your chosen participating lender (up to 15% of the property value). Purchase: You can buy an off the plan, new or existing home, townhouse or apartment. 



Key Changes from October 1, 2025: 

  • Unlimited Places: All eligible Australian first home buyers can apply, as there are no longer limits on the number of Government guarantees available.
  • No Income Limits: Eligibility is no longer restricted by income. Higher income earners can apply if they meet the other conditions.
  • Higher Property Price Caps: Property price caps are increased to help buyers in a wider range of locations.

How to Participate:

  1. Check Eligibility: Visit the Housing Australia website to determine your eligibility.
  2. Find a Participating Lender: Apply for a mortgage loan through a participating lender.
  3. Secure a Guarantee: If eligible, you can reserve a place under the scheme.
  4. Put your team in place. Buyers agent, lawyer, building inspectors and so on.
  5. Buy Your Property: Use your 5% deposit and the Government guarantee to purchase your property.

Key requirements

  • Principal Place of Residence: The property you purchase must be your main home.
  • Ongoing Requirement: You must continue to live in the property to retain the guarantee on your home loan. 
  • Consequences of Not Living There: If you stop living in the property, the guarantee may no longer apply, and you would need to secure and to pay additional costs like Lenders' Mortgage Insurance (LMI).