First Home Guarantee

The First Home Guarantee is part of the Home Guarantee Scheme, an Australian Government initiative that helps home buyers to buy a home sooner. We are proud to be a participating lender in this initiative. For the 2025/26 financial year, there are 35,000 places available for the First Home Guarantee.

Eligible borrowers can use the First Home Guarantee in conjunction with other government programs like the First Home Super Save Scheme, and relevant state and territory first home owner grants and stamp duty exemptions (find out more about those here).

How does the First Home Guarantee work?

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 type of Guarantee. This helps home buyers to buy a home sooner, with lower upfront costs.

If you’re eligible for the First Home Guarantee, the minimum deposit required is 5% of the property value.

What type of home can I buy?

For a property to be eligible it must be a residential property. Eligible residential properties generally include:

• an existing house, townhouse or apartment
• a house and land package
• land and separate contract to build a home
• an off-the-plan apartment or townhouse.

Property price caps also apply, based on where you buy. Search the property price threshold for a suburb or post code at the Housing Australia website.

Get in touch with us

Book an appointment online, by calling 133 462, or at your local IMB branch.

Submit your home loan application

Once you have received conditional approval from IMB, we will collect the documents required for eligibility and reserve your Guarantee.

Buy a home

You now have 90 days to purchase your first home after you’re approved for the First Home Guarantee.

Eligibility criteria

Home buyers need to meet a range of eligibility criteria to qualify for the Home Guarantee Scheme. For the First Home Guarantee, these include:

Citizenship – be an Australian citizen(s) or permanent resident(s)

Income – taxable income at or below $125,000 (individual) or $200,000 (joint), shown on your ATO Notice of Assessment

Deposit – minimum 5% of the Property Value

Property ownership - must be a first home buyer or not have owned a property in Australia in the last 10 years prior to the date you execute your home loan* (applies to both in a joint application)

Owner-occupier – you must buy or build a home to live in (investment properties are not eligible)

Loan type – owner-occupier loan with Principal and Interest repayments, with a maximum loan term of 30 years

Applicant type –Individuals or buying with one partner, friend or family member

Minimum age – must be at least 18 years old

Purchase property - Your purchased property must bean acceptable property type and within the property price threshold for the suburb and postcode.

How do I apply for the First Home Guarantee?

Check your eligibility

The section titled "Eligibility Criteria" below details the main eligibility criteria. You can find out more at the Housing Australia website to check your eligibility.

‍Fact sheets and information guides

For complete information on eligibility, property types and more from Housing Australia, click on the information guide links below or head to housingaustralia.gov.au.

• Home Guarantee Scheme Fact Sheet
• First Home Guarantee Information Guide