Enquire now to find out if you're eligible
Great opportunity for eligible single parents
Life as a single parent can present some challenging circumstances. One of the main issues facing many single parents is securing suitable housing for themselves and their children.
Family Home Guarantee is a new Australian government initiative that aims to support eligible single parents to purchase a family home
With as little as 2% deposit, eligible single parents will be able to enter, or re-enter, the housing market and enjoy stable living arrangements sooner.
Family Home Guarantee is administered by the National Housing Finance and Investment Corporation (NHFIC), on behalf of the Australian government. It guarantees to us, as a participating lender, up to 18 per cent of the value of the property.
We’re proud to be a participating lender and look forward to helping even more families into their homes.
Am I eligible?
The following eligibility criteria must be satisfied at the time the loan agreement is entered into:
• You must be an Australian citizen at least 18 years of age, and a single parent with at least one dependant. Permanent residents are not eligible.
• You must meet the income eligibility requirements - your taxable income cannot exceed $125,000 for the previous financial year (child support payments are not included as income for the purposes of the income cap).
• As the single parent, your name must be the only name listed on the loan and the title.
• You must be able to provide a deposit of at least 2% of the value of the property. If you have a deposit greater than 20% your home loan cannot be covered by the Scheme.
• You must intend to be the owner/occupier of the purchased property
• You can either be a first home buyers or previous owner-occupiers who do not currently own a home.
• There are property price thresholds that will apply in capital cities, large regional centres and regional areas. Use NHFIC's property price threshold tool to work out the maximum property purchase price in the area you're interested in under the Scheme.
• The property you wish to purchase must meet the property eligibility requirements under the Scheme.
We're here to help you with your application
If you meet the eligibility criteria the next step is to reach out to our team who can assist with your application. Complete our simple online enquiry form and a team member will be in contact with you shortly.
The application process
Check your eligibility
Check your eligibility for the Scheme using NHFIC's online tool.
Make an appointment
Enquire online and a Bendigo team member will be in contact shortly to assist you with your application
Buy your home
Purchase a property that meets the conditions of your Family Home Guarantee approval within 90 days.
Key information about the Scheme
Handy tips for first home buyers
Things you should know
Terms and conditions, fees, charges, eligibility and lending criteria apply. Full details available on application. All information is correct as at 01 July 2021 and is subject to change without notice.