What to understand first
- Eligible first home buyers can apply with a minimum 5% deposit and avoid lenders mortgage insurance through a government guarantee.
- Applicants must meet the scheme rules, location-specific property price caps and a participating lender’s approval criteria. Eligible Australian citizens and permanent residents can apply.
- A separate pathway supports eligible single parents or legal guardians with a minimum 2% deposit. It has its own conditions.
Source: Australian Government — First Home Buyers ↗ · Single-parent pathway ↗
Planning your next step
The right starting point is the full budget and a finance conversation. Land2Handover can help you connect with a finance professional, then explore the land and builder connections needed for your new home.
Bring these questions to your conversation
- Which support is relevant to my circumstances?
- What is the complete budget, including costs outside the home price?
- When would any assistance become available?
- What needs to be confirmed before I commit to land or a building contract?
Your questions
Is the guarantee a cash grant?
No. It backs part of the lender’s risk. You remain responsible for your home-loan costs and repayments.
Can it be used for a new build?
Eligible home types include house and land packages and vacant land with an eligible building contract, subject to the applicable rules.
General information only. This is not a loan offer or an eligibility assessment. Confirm the latest rules with the government source and the relevant finance professional. Land2Handover is not a government agency or a participating lender.