What is the First Home Guarantee (FHBG)?

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

People’s Choice is a participating lender offering the First Home Guarantee. If you’re interested in applying for the First Home Guarantee, please register your interest below or speak with our Home Loan Specialists to discuss the options available to you.

Who is eligible for the First Home Guarantee (FHBG)?

To be eligible, you need to meet the following criteria:
  • Have a minimum 5% deposit
  • Be Australian citizens or permanent residents

  • Be applying as individual or joint applicants, which may include partners, friends, siblings, and other family members
  • Be first home buyers or previous home owners who haven't owned a property in the ten years prior to the date they execute their home loan. Prior property ownership includes a freehold interest in real property in Australia (this includes owning land only), an interest in a lease of land in Australia with a term of 50 years or more, or a company title interest in land in Australia.

Property price caps

Maximum purchase prices (property price caps set by Government legislation) are applicable for eligible properties purchased under the Home Guarantee Scheme (HGS). The property price caps are the same for all HGS Guarantees.

Visit the Housing Australia website to use the Property Price Cap Tool – a postcode search tool to help home buyers determine the property price caps for the suburb they are purchasing in.


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