Home Guarantee Scheme

Our home loan for first home buyers with government assistance.
Category: Home Loans  Last Updated March 19, 2025  Effective March 21, 2025

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Comparison rate based on $150,000 loan over 25 years. WARNING: This comparison rate is 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.
Interest Rate
5.74% PA
Comparison Rate
5.79%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

 Product Features

  • Offset Additional Information: This loan is used in conjunction with the Australian Government's Home Guarantee Scheem (HGS). Housing Australia provides a guarantee that will allow eligible first home buyers (and other eligible borrowers) to purchase a home with a deposit of as little as 2%, without needing to pay for Lenders Mortgage Insurance (LMI) or rely on a guarantor.
  • Redraw Additional Information: Your loan comes with a repayment redraw facility. This gives you access to additional repayments if you?re at least one full repayment ahead, you can redraw $100 or more. It?s simple to redraw using our App or Online Banking.
  • Npp Payid
  • Npp Enabled
  • Other Additional Information: You can increase your loan amount throughout the life of the loan, subject to equity held in your property and our approval.
  • Other Additional Information: Switching is a change to one or more aspects of your loan's terms and conditions, for example switching from a variable rate to a fixed rate or switching from Interest Only to Principal and Interest repayments.
  • Other Additional Information: Splitting is when you divide one loan into two or more loan accounts, generally with different loan types, repayment types or interest rates.
  • Other Additional Information: Flexible repayment options weekly, fortnightly or monthly
  • Other Additional Information: You can make extra repayments or repay your loan in full at any time. Extra repayments may enable you to redraw funds, subject to conditions
  • Other Additional Information: Valuation fee waived up to $1,000.
  • Other Additional Information: Establishment Fee Waived
  • Digital Banking Additional Information: 24/7 access via internet banking and mobile app

 Product Eligibility

  • Natural Person
  • Min Age - 18.
  • Employment Status - Employed.
  • Residency Status - Permanent Resident. Additional Information: You must be an Australian citizen or permanent resident to apply
  • Other Additional Information: Applications for credit are subject to the Bank?s eligibility and suitability criteria and normal credit approval process.
  • Other Additional Information: 95% if approved under the First Home Guarantee or Regional FHB Guarantee, or 98% under Family Home Guarantee
  • Other Additional Information: As per Home Guarantee Scheme (HGS) property caps
  • Other Additional Information: Purchase or refinance for First Home Buyer Owner Occupiers only
  • Other Additional Information: This loan is used in conjunction with the Australian Government's Home Guarantee Scheem (HGS). Housing Australia provides a guarantee that will allow eligible first home buyers (and other eligible borrowers) to purchase a home with a deposit of as little as 2%, without needing to pay for Lenders Mortgage Insurance (LMI) or rely on a guarantor.

 Limitations & Restrictions (Constraints)

  • Opening Balance of 0.00
  • Min Balance of Additional Information: Maximum purchase prices (property price caps) are applicable for eligible properties purchased under the Home Guarantee Scheme in capital cities, large regional centres and regional areas.