Enter the property market with as little as a 2% or 5% deposit, depending on the scheme.
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Australian Government support for eligible home buyers
The Home Guarantee Scheme is an Australian Government initiative that helps Australians to buy a home sooner. The Home Guarantee Scheme supports home buyers who have saved a small deposit, and meet other eligibility criteria, to access a home loan to buy a home.
The Scheme is administered by Housing Australia. The Mutual Bank is one of a number of lenders approved by Housing Australia to offer the Scheme.
Home buyers usually need a deposit of 20% of the property value to get a home loan, and those with a smaller deposit may require Lenders Mortgage Insurance (LMI).
Under the Home Guarantee Scheme, Housing Australia provides a Guarantee to the lender, so home buyers only need a 2% or 5% deposit depending on the Scheme. This helps home buyers to buy a home sooner, with lower upfront costs.
Home buyers are responsible for meeting all costs and repayments for home loans associated with the Home Guarantee Scheme including but not limited to stamp duty, application fee and legal costs.
There are three Guarantees available to suit different types of home buyers.
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