Hi ,
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme, an Australian Government initiative to support eligible first home buyers purchase a home sooner.
It is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.
Under the FHBG, part of an eligible first home buyer’s home loan from a Participating Lender is guaranteed by NHFIC. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
Eligible residential properties include:
- an existing house, townhouse or apartment
- a house and land package
- land and a separate contract to build a home
- an off-the-plan apartment or townhouse
Are you looking to purchase your first home? Give Chamberlain Property Advocates a call on 03 9686 2288 today. We are here to help. We offer a free consultation, so why not call today?