SUpport for Single Parents
The Family Home Guarantee is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government. It aims to support eligible single parents with at least one dependent child to purchase a family home.
Between 2021-2025, 10,000 Family Home Guarantees will be available.
Eligible single parents with at least one dependent child looking to build a new home or purchase an existing home are able to apply for a loan to purchase an eligible property through a participating lender, regardless of whether that single parent is a first home buyer or a previous home owner.
NHFIC will guarantee up to 18% of the value of the property, provided the borrower has a minimum 2% deposit. This will enable single parents with at least one dependent child to enter, or re-enter, the housing market sooner.
Under the Scheme, you can purchase a property with as little as 2% deposit, with the NHFIC guaranteeing up to 18% of the property value.
There are several factors that will determine your eligibility to participate in the Family Home Guarantee Scheme. These include:
- Your citizenship status
- Your marital status
- Presence of dependent children
- Your income
- How much deposit you have
- If the property is owner-occupied or an investment
- If you already own any property or land
Loans under the Family Home Guarantee require scheduled repayments of the principal and interest of the loan for the full period of the agreement. The loan agreement must have a term of no more than 30 years.
We’ll help you determine your eligibility as well as take care of all the paperwork.
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