By Kain, Mortgage Broker at Aussie Home Loans Clayfield
Saving for a 20% home deposit can take over 10 years—but with the Home Guarantee Scheme (HGS), you may be able to buy with just 5% down and no LMI (Lenders Mortgage Insurance). This scheme has already helped 193,000 first-home buyers get into the market faster. Could it help you too?
How the Home Guarantee Scheme Works
Instead of giving you cash, the government guarantees part of your home loan, so you can:
✔ Buy with just 5% deposit (or even 2% for some buyers)
✔ Avoid costly LMI, which can save you thousands
✔ Get into your first home years sooner
Not all lenders offer this scheme—so it’s important to know your options.
Three Ways to Qualify
The HGS is available under three programs:
1️⃣ First Home Guarantee
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Helps first-home buyers enter the market faster
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35,000 places available this year
2️⃣ Regional First Home Buyer Guarantee
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Supports buyers in regional areas
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Limited to 10,000 spots, so act fast!
3️⃣ Family Home Guarantee
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For single parents (you don’t have to be a first-home buyer)
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Buy with just a 2% deposit, no LMI
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Only 5,000 places this year
Why More Buyers Are Using the HGS
Just five years ago, only 1 in 10 first-home buyers used this scheme. Now, it’s closer to 1 in 3.
Why?
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Rising home prices
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High living costs
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Expanded eligibility (now includes friends, siblings, and buyers who haven’t owned in 10+ years)
Things to Consider
✔ Eligibility rules apply (income and property price limits)
✔ Not all lenders offer HGS, so choices are limited
✔ You’ll still need loan approval—but with expert help, you can navigate the process easily
Find Out If You Qualify
Want to fast-track your homeownership with just a 5% deposit?
As a Mortgage Broker in Clayfield, Nundah, and Hendra, I can help you:
✅ Check your HGS eligibility
✅ Find the best lender offering the scheme
✅ Get a loan tailored to your budget
📞 Contact Kain at Aussie Home Loans Clayfield today!