Loading account
Get started
Tax & Government

First Home Guarantee (FHG)

5% deposit, no LMI, government guarantee. For eligible first-home buyers.

What is FHG?

The First Home Guarantee (FHG) is a federal scheme that lets eligible first-home buyers purchase with a 5% deposit and no LMI — the government guarantees the remaining 15%. Previously capped at 35,000 places per year; check current allocation.

Why it matters for you

Saves $15K–$30K in LMI for eligible applicants. Income caps apply: $125K for singles, $200K for couples in 2026. Price caps vary by state/region. Most major lenders participate.

See if the FHG works for you

Free. No pressure. No credit check.

Related terms

State cash grant for first-home buyers — usually new builds only.

Tax & Government

Save for a deposit through super at concessional 15% tax rates.

Tax & Government

The insurance you pay when your deposit is under 20%.

Home Buying Basics
Last updated: April 2026