Check your eligibility with us or on the Housing Australia website, housingaustralia.gov.au. If you're ineligible, we'll still work with you to explore other options to help you get into your own home.
Unity Bank is an approved lender under the Australian Government's First Home Guarantee helping eligible home buyers realise their dream of home ownership. You can start with just a 5% DEPOSIT and avoid thousands of dollars in lenders mortgage insurance costs.
If you currently live in a regional area, you may be eligible for the Regional First Home Buyer Guarantee.
The First Home Guarantee (FHBG) is an Australian Government initiative to help you as an eligible home buyer enter the housing market sooner. It is administered by Housing Australia under the Home Guarantee Scheme (Scheme) on behalf of the Australian Government.
Usually as a home buyer with less than a 20 per cent deposit, you need to pay lenders mortgage insurance. Often, this could amount to thousands of dollars. Under the First Home Guarantee, you can purchase a home with a deposit of as little as 5 per cent without the big cost of lenders mortgage insurance. This is because Housing Australia guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible home buyer’s home loan.
To find out more or assess your eligibility, talk to us, download the First Home Guarantee Fact Sheet or view the information guide.
You can apply through Unity Bank for a loan to purchase a residential property, and we will reserve a place in the guarantee on your behalf, provided your application meets the eligibility criteria.
The First Home Guarantee can also be used conjunction with other Government initiatives such as stamp duty concessions.
Credit eligibility, terms and conditions, fees & charges apply.
Please note that the First Home Guarantee is not a cash payment or a deposit for your home loan. Minimum home loan balance $150,000. Not available for top-ups or internal product switches. Maximum loan period 30 years. Applicants can be first home buyers as well as people who have not owned property in Australia in the last 10 years.
* Other fees and charges may apply and will be specified at the time the loan is approved.
