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First Home Guarantee

Get into your own home sooner

Caring for 1.9 million customers
$272 million reinvested back into local communities
Australia’s most satisfied home loan customers*

Welcome news for first home buyers

With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee. Designed to help you buy your first home faster, the Guarantee acts by lowering the deposit you need to take out a home loan.

Here’s how it works

The Australian Government, through the National Housing and Finance Investment Corporation (NHFIC), will guarantee us, as the lender, the difference between your deposit (of at least 5% ), and 20% of the value of your first home. This means you can buy your first home sooner, and be exempt from paying Lenders Mortgage Insurance (LMI), which can potentially save you thousands.

With the latest round of applications for the Guarantee now open, we are once again proud to be a participating lender in this great initiative.

Am I eligible?

  • You need to be an Australian citizen, at least 18 years old, with a Medicare card, and a first home buyer looking to buy a property that you will live in.
  • You need to be able to demonstrate your ability to save over time, with a minimum 5% deposit saved for the property you wish to buy.
  • You must meet the income eligibility requirements, which are single buyers earning up to $125,000, or a couple earning up to $200,000 per year. 
  • 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 Guarantee.

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 for singles and couples

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 within the price threshold for the area you're interested in under the Guarantee.

Move in

Move into your new home! Check out our tips to assist you with your move. 

Things you should know

* Roy Morgan Single Source Australia, March 2022

Terms and conditions, fees, charges, eligibility and lending criteria apply. Full details available on application. All information is correct as at 22 January 2020 and is subject to change without notice. 

Target Market Determinations for products are available.

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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