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Family Home Guarantee

Realise your dream of a home for your family

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Unity Bank is an approved lender under the Australian Government's Family Home Guarantee supporting eligible single natural or adoptive parents of at least one dependent, as well as single legal guardians of at least one dependent in purchasing a family home.*

You can start with just a 2% DEPOSIT and avoid thousands of dollars in lenders mortgage insurance costs.

Take advantage of our lower rates

What is the Family Home Guarantee?

The Family Home Guarantee (FHG) is an Australian Government initiative to help you as an eligible single natural or adoptive parents of at least one dependent and eligible single legal guardians of at least one dependent, such as aunts, uncles or grandparents enter or re-enter the property market sooner with a home for your family. It is administered by Housing Australia under the Home Guarantee Scheme (Scheme) on behalf of the Australian Government.

Usually as a home buyer with less than a 20 per cent deposit, you need to pay lenders mortgage insurance. Often, this could amount to thousands of dollars. Under the Family Home Guarantee, you can purchase a home with a deposit of as little as 2 per cent without the big cost of lenders mortgage insurance. This is because Housing Australia guarantees to a participating lender up to 18 percent of the value of the property purchased that is financed by an eligible family home buyer’s home loan.

To find out more or assess your eligibility, talk to us, download the Family Home Guarantee Fact Sheet or view the information guide.

How does the Family Home Guarantee work?

You can apply through Unity Bank for a loan to purchase a residential property, and we will reserve a place in the guarantee on your behalf, provided your application meets the eligibility criteria.

The Family Home Guarantee can also be used conjunction with other Government initiatives that you may also be eligible for.

Submit an enquiry today!

         

Applying for the Family Home Guarantee

There are limited places available nationwide, so contact us and we will guide you through the steps below.

For further details, eligibility criteria or to discuss your needs, please contact us today.

Home Loan calculators

Use our Home Loan calculators to determine the amount you can borrow and monthly repayment amounts.

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  • 1 Only available for First Home Buyers and Housing Australia. Minimum home loan balance $150,000. Not available for internal product switches. Maximum loan period 30 years. Interest rate calculated daily charged monthly. Loan to Value Ratio (LVR), is the ratio of money you borrow compared to the value of the property used as security, as determined by the Bank.
  • 2 Comparison Rate is calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. WARNING: These Comparison Rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different Comparison Rate. Comparison rates for Variable Interest Only loans are based on an initial 5 year Interest only period. Comparison rates for Fixed Interest Only loans are based on an initial Interest Only period equal in length to the fixed period. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan. Interest rates are on a per annum basis.
  • 3 Only available for First Home Buyers and Housing Australia. Minimum home loan balance $150,000. Not available for internal product switches. Maximum loan period 30 years. Interest rate calculated daily charged monthly. After fixed period interest rate reverts to First Home Buyer Advantage Plus and Government Scheme Lending standard variable rate.

Credit eligibility, terms and conditions, fees & charges apply.

Please note that the Family Home Guarantee is not a cash payment or a deposit for your home loan. Minimum home loan balance $150,000. Not available for top-ups or internal product switches. Maximum loan period 30 years.

* Documentation supporting guardianship may be required.

** Other fees and charges may apply and will be specified at the time the loan is approved.

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© 2024 Unity Bank Limited. | ABN 11 087 650 315 | AFSL/Australian Credit Licence 240399 | BSB 882 000 Reliance Bank is a division of Unity Bank Limited. Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review our Disclosure Documents before acquiring any product.

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We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Unity Bank operates and where our team members reside.