Government Family Home Guarantee

We recently helped a single parent secure their next home with the Family Home Guarantee using only a 2% deposit. Did you know the Family Home Guarantee could help you step into the property market with just a 2% deposit (plus applicable stump duties)? Let’s break it down with an example:

Purchase Price: $510,000

Deposit Needed: $10,200 (2%) plus

Government Charges and Stump Duty: $25,000

TOTAL savings required: $35,200

Government Support: The Family Home Guarantee acts as a guarantor for part of your loan, helping you avoid costly lender’s mortgage insurance (LMI).

This program is designed to support eligible buyers, such as single parents, achieve home ownership sooner. It’s a great way to turn your dream of owning a home into reality without needing a huge upfront deposit.

Every financial journey is unique, and I’m here to help you navigate the options available to you. Let’s chat about whether the Family Home Guarantee could be the perfect fit for your situation and get you on the path to home ownership!