The Regional First Home Buyer Guarantee (RFHBG) is a valuable government initiative aimed at helping eligible buyers across regional Australia enter the property market with just a 5% deposit—without the need for costly lender’s mortgage insurance. Designed to make homeownership more accessible, the Guarantee supports regional Australians to buy or build a modest home in their area. For those who meet the criteria, it’s an incredible opportunity to achieve homeownership sooner, while saving on upfront costs.
The Regional First Home Buyer Guarantee enables regional buyers to enter the property market with as little as a 5% deposit, reducing the need for costly lender's mortgage insurance. Through this scheme, the government guarantees up to 15% of the property’s value for eligible buyers, making homeownership more achievable.
To qualify, buyers must:
The RFHBG applies to a range of residential properties, including existing homes, house-and-land packages, and off-the-plan builds, with price limits varying by state. For NSW, these caps are set at $900,000 in key regional centres and $750,000 in other regional areas.
To see if your area qualifies under the Regional First Home Buyer Guarantee, use the Regional Checker on the Housing Australia website. This tool allows you to enter the postcode of your prospective property and confirm if it’s within an eligible regional area. It's a helpful first step to ensure your purchase location meets the program's requirements before moving forward.
Our Information Evening in Scone will cover the RFHBG details, eligibility requirements, and the application process. We’ll also dive into the broader financial landscape for regional buyers, with a local mortgage broker available to answer questions. Whether you're a first-time buyer or looking to understand government support options, this is an invaluable opportunity to explore pathways to owning a home in the Hunter Region.