Support for single parents
Under the Family Home Guarantee, your minimum savings goal drops to 2%. This is because the Australian Government acts as a guarantor, so you don’t have to fork out extra funds for LMI – even if your deposit is less than 20%.
Plus, you don’t need to be a first-time home buyer. The Family Home Guarantee is available to eligible single parents re-entering the property market as well as first-time buyers.
Places are available now
From July 1, 2022, the National Housing Finance and Investment Corporation (NHFIC) released 5,000 places under the Family Home Guarantee.