Supporting first home buyers looking to build or purchase a new home.
About New Home Guarantee
In the 2021-22 Federal Budget, the Australian Government announced 10,000 places specifically for eligible first home buyers building or purchasing new homes. This scheme is called the New Home Guarantee.
Under the New Home Guarantee, first home buyers can build or purchase a new home, including:
- newly-constructed dwellings
- off-the-plan dwellings
- house and land package
- land and a separate contract to build a new home
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 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.
Key information about New Home Guarantee
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 that meets the conditions of your Scheme Approval.
Move in
Move into your new home! Check out our tips to assist you with your move.
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 12 November 2020 and is subject to change without notice.
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