The Family Home Guarantee is an Australian Government initiative administered by the National Housing Finance and Investment Corporation (NHFIC) that’s intended to help support single parents with dependents buy a family home. Unlike the First Home Owners Grant, First Home Guarantee Scheme and the First Home Vacant Land Concession, you don’t need to be a first home buyer to access the scheme that makes a total of 10,000 houses available each financial year from 1 July 2021 to 30 June 2025. This initiative enables eligible single parents to buy a home with just a 2% deposit – that means you won’t have to pay lenders mortgage insurance – on a home valued up to $600,000.*
For more information on the Family Home Guarantee scheme, please visit the official Housing Australia website.
*The information on this website regarding grants and schemes provided by Hallmark Homes is for general information purposes only. It is not financial advice. Consult with qualified financial advisors for personalised guidance.
2%
minimum deposit for eligible single parents.
No LMI
Lenders Mortgage Insurance waived.
$700,000
Property Cap in Brisbane, Gold Coast and Sunshine Coast.
Administered by the NHFIC on behalf of the Federal Government, the Family Home Guarantee scheme enables eligible single parents with dependents to apply for a home loan with a 2% deposit. If the eligible borrower meets the 2% deposit requirement, the NHFIC will guarantee up to 18% of the property value – capped at $700,000 in Brisbane, Gold Coast and Sunshine Coast, and $550,000 outside of these areas in Queensland – to meet the 20% deposit needed to avoid paying LMI.
This initiative is broader in scope than most first home buyer schemes and, in addition to building a new home (land and build contract), house and land packages and off-the-plan apartments and townhouses, also enables eligible borrowers to buy an existing house, apartment or townhouse.
For more information on the Family Home Guarantee scheme, please visit the official House Australia website.
*The information on this website regarding grants and schemes provided by Hallmark Homes is for general information purposes only. It is not financial advice. Consult with qualified financial advisors for personalised guidance.
Whether it’s your first or second home that you’re building, a family home is one of the biggest investments you’ll ever make. That’s why it’s so important to build with a reputable home builder like Hallmark Homes and learn as much about the process of building a home as you can. Our ‘Building Your Very First Home – An Essential Guide’ helps you navigate the process of building a home, and whether this is your first time building a home or not, you’re sure to find the insights inside valuable.
Eligible House and Land Packages
| Willow 251 - Nest - Harmony | |
| Floor Area | 250.84m2 |
| Land Area | 584m2 |
| Cedar 255 - Nest - Harmony | |
| Floor Area | 254.55m2 |
| Land Area | 623m2 |
| Manly 186 - Luma - Harmony | |
| Floor Area | 185.81m2 |
| Land Area | 322m2 |
| Banksia 229 - Luma - Harmony | |
| Floor Area | 228.54m2 |
| Land Area | 585m2 |
| Birch 245 - Nest - Harmony | |
| Floor Area | 248.05m2 |
| Land Area | 613m2 |
| Cove 202 - Luma - Harmony | |
| Floor Area | 201.6m2 |
| Land Area | 960m2 |
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