What is family home guarantee?
The Family Home Guarantee is a Home Guarantee Scheme stream specifically for eligible single parents and single legal guardians: 2% deposit, no LMI, available for both first home buyers AND single parents previously on the property ladder.
The Family Home Guarantee (FHG) is a federal stream specifically for eligible single parents and single legal guardians with at least one dependent child. Unlike the First Home Guarantee, FHG isn't restricted to first home buyers, single parents who've previously owned a home but no longer do are eligible.
Terms: 2% minimum deposit (vs. 5% for the standard HGS), no LMI charged, Government guarantees the lender up to 18% of the property value. Eligibility: single parent / single legal guardian with ≥1 dependent child, Australian citizen aged 18+, income limit $125,000.
Annual cap: 5,000 places per financial year. The FHG was extended in the 2024 federal Budget to include single legal guardians beyond biological/adoptive single parents. Property price caps match the standard HGS state-by-state caps.
Also called
FHG · family home guarantee · single parent guarantee
Related
- Home Guarantee Scheme (HGS): The HGS is a federal scheme where the Government guarantees up to 15% of an eligible buyer's loan, letting them buy with…
- First Home Buyer schemes (umbrella): Australian first home buyers can stack up to four concessions: the federal Home Guarantee Scheme (no LMI), the state Fir…
- Lenders Mortgage Insurance (LMI): LMI is a one-off premium that protects the lender (not the borrower) when the LVR is above 80%; typical cost on a $500,0…
General information only, not personal financial advice. Verified against https://ratesniffers.com.au/glossary on 2026-06-01.