The Family Home Guarantee (FHG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers purchase a home sooner. QBANK is proud to support the Family Home Guarantee (FHG) to help single parents purchase a home sooner.
|Home Loan||Loan to Value Ratio||Interest Rate||Comparison Rate*|
|Special Offer Classic Variable||<98%||4.74% PA||4.76% PA|
|3 Year Fixed^||<98%||6.69% PA||5.92% PA|
1 To be eligible for the above rates, a salary credit of at least $1,500 per month must be deposited into your QBANK transaction account. New lending only.
The Family Home Guarantee (FHG) is an Australian Government initiative that aims to support eligible single parents with at least one dependent child in purchasing a family home. It is administered by the National Housing Finance and Investment Corporation (NHFIC) under the Home Guarantee Scheme (Scheme) on behalf of the Australian Government.
From 1 July 2022, 5,000 Family Home Guarantees will be made available each financial year (up until 30 June 2025) to eligible single parents with at least one dependent child, subject to their ability to service a loan.
The Family Home Guarantee can be used to build a new home or purchase an existing home with a deposit of as little as 2 per cent, regardless of whether that single parent is a first home buyer or a previous home owner. Investment properties are not supported by the Family Home Guarantee.
Eligible single parents with at least one dependent child looking to build a new home or purchase an existing home are able to apply for a loan to purchase an eligible property through a participating lender.
NHFIC guarantees to a participating lender up to 18 per cent of the value of the property, provided the borrower has a minimum 2 per cent deposit, and is eligible for the Family Home Guarantee.
This will enable single parents with at least one dependent child to enter, or re-enter, the housing market sooner.
If you would like to know more about the Scheme please download the Family Home Guarantee (FHG) Information Guide and the Family Home Guarantee (FHG) Fact Sheet or visit the NHFIC Website. For more information about QBANK Home Loans (including credit eligibility criteria, terms and conditions, fees and charges) please visit our Home Loan Key Fact Sheet.
Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.
Interest rates current as at 16 August 2022 and are subject to change without notice.
Fact Sheets are available HERE
Target Market Determination is available here.
If you would like to know more about the FHG please visit https://www.nhfic.gov.au/
*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. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term.