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.
FHG · family home guarantee · single parent guarantee
- 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.