The Home Guarantee Scheme (HGS) - formerly the First Home Loan Deposit Scheme - is a government-backed initiative that allows eligible buyers to purchase a home with as little as 5% deposit without needing to pay Lenders Mortgage Insurance (LMI).
There's also a stream within the scheme for single parents, allowing them to buy with just a 2% deposit.
No LMI
Saves clients up to $33,000
in upfront costs
Accelerated Entry
Buying with 5% instead of
20% means fewer years lost
to saving
Increased Borrowing Power
Less deposit required allows for
stronger borrowing capacity with a
competitive rate and no LMI cost
ELIGIBILITY OVERVIEW
- First home buyer or eligible single parent
- NO Income Caps
- Property price caps apply (e.g., $950,000 for metro Melbourne)
- Australian citizens or permanent residents
This initiative brings forward the timeline to buy - and lets clients skip the LMI trap entirely. We've helped dozens fast-track their goals through this path.
WHAT TO DO NEXT
If someone is saving for a deposit or unsure whether they qualify, a 10-minute check could open up options they didn't know existed. Let us run the numbers.
* Bank and Government policies are subject to change at any time
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Whether you have questions about our services or want to schedule a consultation, we're here to assist you every step of the way.
Our Office
420 St Kilda Road,
Melbourne VIC 3004
Australia
Phone
+61 0431 611 010
info@arlofinance.com.au
manan@arlofinance.com.au
Business Hours
Monday - Friday: 9am - 5pm
Saturday: By appointment
Sunday: Closed