It’s important to note, each Government scheme will be subject to limitations and eligibility criteria that may change – so it’s best to do your own research when applying.
This page provides information about schemes that are available nationwide. If you’re interested in schemes offered by People’s Choice for a particular state, you can visit our dedicated state pages by clicking below.
National first home buyer schemes
People’s Choice is a participating lender offering the Home Guarantee Scheme (HGS), which is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by Housing Australia.
The Home Guarantee Scheme includes:
- First Home Guarantee (FHBG) – for eligible home buyers
- Regional First Home Buyer Guarantee (RFHBG) – for eligible regional home buyers
- Family Home Guarantee (FHG) - for eligible single parents and eligible single legal guardians of at least one dependent
Maximum purchase prices (property price caps set by Government legislation) are applicable for eligible properties purchased under the Home Guarantee Scheme. The property price caps are the same for all HGS Guarantees.
Visit the Housing Australia website to use the Property Price Cap Tool – a postcode search tool to help home buyers determine the property price caps for the suburb they are purchasing in.
First Home Guarantee (FHBG)
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme. The purpose of the First Home Guarantee is to support eligible home buyers to enter the housing market sooner.
It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value.
To be eligible, home buyers applying for the First Home Guarantee must:
- Have a minimum 5% deposit
- Be Australian citizens or permanent residents
- Be applying as individual or joint applicants, which may include partners, friends, siblings, and other family members
- Be first home buyers or previous home owners who haven't owned a property in the ten years prior to the date they execute their home loan. Prior property ownership includes a freehold interest in real property in Australia (this includes owning land only), an interest in a lease of land in Australia with a term of 50 years or more, or a company title interest in land in Australia.
You can find more information about the First Home Guarantee and eligibility criteria on the Housing Australia website.
Regional First Home Buyer Guarantee (RFHBG)
The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme. The purpose of the Regional First Home Buyer Guarantee is to help eligible regional home buyers to buy a home sooner, in a regional area.
It does this by allowing Housing Australia to issue 10,000 guarantees each financial year for eligible loans to regional home buyers with a deposit of between 5 and 20% of the property value.
To be eligible, home buyers applying for the Regional First Home Buyer Guarantee must:
- Be Australian citizens or permanent residents
- Be applying as individual or joint applicants, which may include partners, friends, siblings, and other family members
- Have a minimum 5% deposit
- Have lived (or at least one applicant if applying as joint applicants) in the regional area or adjacent regional area you are purchasing in for the preceding 12-month period to the date you execute the home loan agreement. Employees who have been required to relocate for work may be exempt from this requirement and should check with their Participating Lender if this applies.
The Regional Checker allows home buyers to enter the suburb or postcode of their current home and the suburb or postcode they would like to purchase in, so they can confirm if they would be eligible for the Regional First Home Buyer Guarantee. The Regional Checker is available on the Housing Australia website.
All other Home Guarantee Scheme eligibility criteria apply to all applicants. Home buyers who are not eligible for the Regional First Home Buyer Guarantee may be eligible for the First Home Guarantee or the Family Home Guarantee.
You can find more information about the Regional First Home Buyer Guarantee and eligibility criteria on the Housing Australia website.
Family Home Guarantee (FHG)
The Family Home Guarantee (FHG) is part of the Home Guarantee Scheme. The Family Home Guarantee is for eligible single parents and eligible single legal guardians of at least one dependent, such as aunts, uncles or grandparents. Applicants can include those who are not first home buyers.
The purpose of the Family Home Guarantee is to support eligible single parents and eligible single legal guardians to buy a home. It does this by allowing Housing Australia to issue 5,000 guarantees each financial year to eligible single parents and eligible single legal guardians with a deposit of between 2 and 20% of the property value.
An eligible single parent or eligible single legal guardian is not required to be a first home buyer but must not own separate property at the time of settling a loan under the Family Home Guarantee. The single parent or single legal guardian must meet the eligible lender's credit assessment criteria.
To be eligible, home buyers applying for the Family Home Guarantee must:
- Have a minimum 2% deposit
- Be an Australian citizen or permanent resident
- Be an eligible single parent or eligible single legal guardian of at least one dependent
You can find more information about the Family Home Guarantee and eligibility criteria on the Housing Australia website.