Australia includes Permanent Residents in on First Home Guarantee. First time in history

In the past, the First Home Guarantee scheme has only been available for Australian citizens to purchase a property.

What’s changed?

This year, the National Housing Finance and Investment Corporation (NHFIC), on behalf of the Australian Government, has announced that they will be including Permanent Residents (PR) to be eligible to take part in the First Home Guarantee Scheme.

Benefits in summary

Why is this a big deal? For Australian Citizens and Permanent Residents who are eligible, they will be able to borrow with as little as 5% deposit without having to pay Lender’s Mortgage Insurance (LMI)

What’s more interesting is that if you have previously owned a property but have not in the last 10 years, you will also be eligible to be considered under the First Home Guarantee Scheme.

The Government has allocated 35,000 spots for this scheme to enable Australians and Permanent Residents to easily afford a home.


To apply for the FHBG, home buyers must be:

  • Applying as an individual or 2 joint applicants
  • An Australian citizen(s) or permanent resident(s) at the time they enter the loan
  • At least 18 years of age
  • Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
  • Intending to be owner-occupiers of the purchased property
  • First-home buyers or previous homeowners who haven’t owned a property in Australia in the past ten years.

Properties covered under this scheme

Under the HGS, home buyers can buy a residential property, including:

  • 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.

There are, however, price caps for the properties mentioned.


There are currently 33 participating lenders who will be taking part in the First Home Guarantee Scheme.

More information on the First Home Guarantee Scheme here.

Speak to us

If you want to see if you are eligible or know someone who is. Speak to us below by filling up our form to book a free appointment, give us a call on 0433 068 970 or email us at leo@elaineee

We are award-winning Mortgage Brokers in Perth, Western Australia

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