Home Guarantee Scheme.

Defence Bank is right behind the Australian Government’s Home Guarantee Scheme.

This initiative supports eligible home buyers and single parents to purchase a home sooner.

First Home Guarantee (FHBG).

The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme.

The purpose of the FHBG is to support eligible home buyers to enter the housing market sooner.

It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value.

To apply for the FHBG, home buyers must be:

• Applying as an individual or joint applicants.
• An Australian citizen(s) or permanent resident(s) at the time they enter the loan.
• At least 18 years of age.
• Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office).
• Intending to be owner-occupiers of the purchased property.
• First home buyers or previous homeowners who haven't owned a property in Australia in the past ten years.

Find out more about the First Home Guarantee.

Family Home Guarantee (FHG).

The Family Home Guarantee (FHG) is part of the Home Guarantee Scheme.

The FHG is for eligible single parents and eligible single legal guardians of at least one dependent, such as aunts, uncles or grandparents. Applicants can include those who are not first home buyers.

The purpose of the FHG is to support eligible single parents and eligible single legal guardians to buy a home. It does this by allowing Housing Australia to issue 5,000 guarantees each financial year to eligible single parents and eligible single legal guardians with a deposit of between 2% and 20% of the property value.

An eligible single parent or eligible single legal guardian is not required to be a first home buyer but must not own property at the time of entering a loan under the FHG. The single parent or single legal guardian must meet the eligible lender's credit assessment criteria.

Find out more about the Family Home Guarantee.

Regional First Home Buyer Guarantee (RFHBG).

The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme.

The purpose of the RFHBG is to help eligible regional home buyers to buy a home sooner, in a regional area.

It does this by allowing Housing Australia to issue 10,000 guarantees each financial year for eligible loans to regional home buyers with a deposit of between 5 and 20% of the property value.

To apply for the RFHBG, home buyers must be:

• Applying as an individual or joint applicants.
• An Australian citizen(s) or permanent resident(s) at the time they enter the loan.
• At least 18 years of age.
• Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office).
• Intending to be owner-occupiers of the purchased property.
• Home buyers who have not previously owned, or had an interest in, a property in Australia or in the ten years prior to the date they execute their home loan.
• First home buyers or previous homeowners who haven't owned a property in Australia in the past ten years.

Find out more about the Regional First Home Buyer Guarantee.

Do these schemes work with DHOAS?

All schemes apply to Defence Bank’s competitive range of existing home loan packages including the Defence Home Ownership Assistance Scheme (DHOAS).

See our range of DHOAS home loans.