The purpose of the First Home Guarantee (FHBG) is to support eligible first home buyers to enter the housing market sooner.
It does this by allowing NHFIC to issue up to 35,000 guarantees each financial year from 2022-23 for eligible loans to first home buyers with a deposit of between 5 and 20 per cent of the property value.
The Family Home Guarantee (FHG) is for single parents with dependents, including those who are not first home buyers. The purpose of the Family Home Guarantee is to support eligible single parents on a pathway to home ownership.
The FHG has an annual allocation of 5,000 places, from 1 July 2022 until 30 June 2025.
The small, small print:
Bank of us lending criteria, terms and conditions , including fees and charges apply. Full details are available on application.
To find out more about the Home Guarantee Scheme visit the NHFIC website.