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Family Home Guarantee

Purchase a family home with a deposit as little as 2% with no cost of Lenders Mortgage Insurance. Talk to us today to find out if you are eligible.

Help for single parents and single legal guardians to buy a home

The Mutual Bank is proud to play a part in helping make home ownership a reality for single parent families.

The Mutual Bank is one of a limited number of participating lenders appointed by Housing Australia to offer the Family Home Guarantee which is part of the Australian Government’s Home Guarantee Scheme.

The Family Home Guarantee initiative aims to support eligible single parents and eligible single guardians of at least one dependent, such as aunts, uncles or grandparents. Applicants can include those who are not first home buyers.

The FHG is open to eligible buyers over the age of 18 who are Australian Citizens or permanent residents.

Home Guarantee Scheme Eligibility Criteria apply. The Eligibility Tool on the Housing Australia website helps home buyers to determine which guarantee/s they may be eligible for.

Under this Guarantee there’s no Lenders Mortgage Insurance to pay which enables eligible single parents and eligible single legal guardians to buy a home with a deposit between 2 and 20% of the property value without the need to purchase Lenders Mortgage Insurance

There are property price caps which vary depending on the location in which you buy. You can work out your property price cap by visiting the Housing Australia website.

A limited number of Family Home Guarantee places are available over four financial years to 30 June 2025.

We can help you through the application process.

To register your interest for a place in the Family Home Guarantee please enquire now or talk to us on 1300 688 825.

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

You can find more information about price caps and search property price caps by suburb on the Housing Australia website.

Lenders Mortgage Insurance (LMI) is a one-off premium added to your home loan if you do not have a 20% deposit. It is an insurance policy which covers the lender against the losses they may suffer if the borrower can no longer pay loan repayments. If a borrower defaults on their mortgage, LMI means the lender can recover what is owed to them by repossessing the property the home loan is tied to. If the property’s value has fallen, the lender can suffer a loss. This is the risk LMI covers.

Learn more about Lenders Mortgage Insurance

Yes. Eligible first home buyers may also be able to take advantage of the Australian Government’s First Home Super Saver Scheme and may also be eligible for other NSW Government grants and concessions.

We're ready to help you

Important Information

Eligibility criteria, terms and conditions apply to the Family Home Guarantee. Eligibility criteria, terms, conditions, fees, and charges apply to all loans and are available on application.

    

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Any advice or information on this site does not take into account your personal objectives, financial situation, or needs and you should consider whether it is appropriate for you. Please review our Product Disclosure Statement, Target Market Determinations, Terms and Conditions, Financial Services Guide, and Credit Guide before deciding to acquire a product.

Eligibility and lending criteria, conditions, fees, and charges apply to all loans. Interest rates, fees, and charges may change without notice. Information is current as at date of appearance and is subject to change. We use reasonable efforts to provide accurate and up to date information. However, mistakes may still occur from time to time and we cannot guarantee that this website is free from any errors, inaccuracies or omissions. Maitland Mutual Limited trading as The Mutual Bank ABN 94 087 651 983 AFSL/Australian credit licence 238139.

The Mutual Bank acknowledges the Traditional Custodians of Country across Australia and recognises their continuing connection to lands, waters and communities. We pay our respects to Aboriginal and Torres Strait Islander cultures and to Elders past and present.